Turkey in Turbulence: Heterodoxy or a New Chapter in Neoliberal Peripheral Development?

dc.authorid Yeldan, A. Erinc/0000-0002-3123-4374
dc.contributor.author Orhangazi, Özgür
dc.contributor.author Yeldan, Alp Erinç
dc.contributor.other Economics
dc.date.accessioned 2023-10-19T15:13:06Z
dc.date.available 2023-10-19T15:13:06Z
dc.date.issued 2023
dc.department-temp [Orhangazi, Ozgur; Yeldan, A. Erinc] Kadir Has Univ, Econ, Istanbul, Turkey en_US
dc.description.abstract While global monetary tightening by central banks, led by the US Federal Reserve, has heightened concerns about a slowdown in the world's economy and an increased likelihood of debt crises across developing countries, Turkey has attracted attention for doing the opposite. Indeed, the country's economic policy makers have intensified monetary easing towards credit expansion at the risk of increased exchange rate instability. This article analyses the Turkish case and makes four contributions. First, it establishes a framework through which we can understand and interpret the policy choices of the government. Second, it shows the binding effects of the trilemma in the context of an economy fully integrated in the global economy and discusses how the government tried to tackle these effects through a series of ad hoc policy measures. Third, the article discloses the distributional consequences of such policy manoeuvres and argues that the burden of adjustment fell on the shoulders of wage labour, while various competing rentier interests benefited from these policies. Fourth, the authors analyse these policies from a broader perspective of whether they can be interpreted as a courageous attempt by a peripheral developing economy to claim some policy space, or whether these policy choices in essence only amount to a deepening of neoliberal peripheralization. en_US
dc.identifier.citationcount 3
dc.identifier.doi 10.1111/dech.12792 en_US
dc.identifier.issn 0012-155X
dc.identifier.issn 1467-7660
dc.identifier.scopus 2-s2.0-85171799595 en_US
dc.identifier.scopusquality Q1
dc.identifier.uri https://doi.org/10.1111/dech.12792
dc.identifier.uri https://hdl.handle.net/20.500.12469/5608
dc.identifier.wos WOS:001070448200001 en_US
dc.identifier.wosquality Q2
dc.khas 20231019-WoS en_US
dc.language.iso en en_US
dc.publisher Wiley en_US
dc.relation.ispartof Development and Change en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/openAccess en_US
dc.scopus.citedbyCount 6
dc.subject Politics En_Us
dc.subject Politics
dc.title Turkey in Turbulence: Heterodoxy or a New Chapter in Neoliberal Peripheral Development? en_US
dc.type Article en_US
dc.wos.citedbyCount 6
dspace.entity.type Publication
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