Түркия экономикасының даму кезеңдері

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The economic history of the Republic of Turkey had four eras or periods. The first era had the development policy emphasizing private accumulation between 1923 and 1929. The second era had the development policy emphasized state accumulation in a period of global crises between 1929 and 1945. The third era was state guided industrialization based on import substituting protectionism between 1950 and 1980. The final, era was the opening of the economy to liberal trade in goods, services and financial market transactions since 1981.

However one distinct characteristic between 1923 and 1985, in large part as a result of government policies, a backward economy developed into a complex economic system producing a wide range of agricultural, industrial, and service products for both domestic and export markets the economy grew at an average annual rate of six percent. Since 1820, Turkey has experienced economic growth and human development at average levels (compared to the rest of the world) but at higher rates than other developing countries. At the time of the collapse of the Ottoman Empire (see Economy of the Ottoman Empire) during World War I and the subsequent birth of the Republic, the Turkish economy was underdeveloped: agriculture depended on outmoded techniques and poor quality livestock, and Turkey's industrial base was weak; the few factories producing basic products such as sugar and flour were under foreign control as a result of the capitulations. After the establishment of the Turkish Republic, the new government committed itself to a relatively moderate economic policy. The basic direction of Turkey's economic development has been preliminarily determined, namely, the development of modern national industries, protection of customs duties, encouragement of private investment and absorption of foreign investment. The first President, Mustafa Kemal Atatürk announced that foreign companies and foreign businessmen would be allowed to invest in Turkey within the framework of the law in 1921. Coping with the negative impact of the western economic crisis from 1929 to 1933 on the Turkish economy is the direct cause of the implementation of the nationalist policy in Turkey. The government stepped in during the early 1930s to promote economic recovery, following a doctrine known as statism. Growth slowed during the worst years of the depression, except between 1935 and 1939 when it reached six percent per year. During the 1940s, the economy stagnated, in large part because maintaining armed neutrality during World War II increased the country's military expenditures while almost entirely curtailing foreign trade.

In the 1950s, the Turkish government emphasized the liberal economic policies, encouraged private capital and foreign capital to invest in the industrial sector, and established the Turkish industrial development bank to provide loans to private entrepreneurs who invested in industry. In 1954, the Turkish government promulgated the Foreign Investment Act (Act no. 6224), offering many preferential conditions to foreign investors, opening up the domestic market and attracting foreign investors. With investors from the US, West Germany, France and Italy the following suit, the modern industrial sector is the preferred investment for foreign investors. After 1950 the country suffered economic disruptions about once a decade; the most serious crisis occurred in the late 1970s. In each case, an industry led period of rapid expansion, marked by a sharp increase in imports, resulted in a balance of payments crisis. Devaluations of the Turkish lira and austerity programs designed to dampen domestic demand for foreign goods were implemented in accordance with International Monetary Fund guidelines. These measures usually led to sufficient improvement in the country's external accounts to make possible the resumption of loans to Turkey by foreign creditors. Although the military interventions of 1960 and 1971 were prompted in part by economic difficulties, after each intervention Turkish politicians boosted government spending, causing the economy to overheat. In the absence of serious structural reforms, Turkey ran chronic current account deficits usually financed by external borrowing that made the country's external debt rise from decade to decade, reaching by 1980 about US$16.2 billion, or more than one quarter of annual gross domestic product. Debt servicing costs in that year equaled 33 percent of exports of goods and services. During this period, the number and size of private enterprises have shown a trend of substantial growth. According to statistics, there were 660 private enterprises with more than 10 employees in 1951, 1,160 in 1953 and 5,300 in 1960. At the same time, the average number of workers employed by the private sector increased from 25 to 33. The constitution promulgated in 1961 emphasizes the common development of the private economy and state owned economy, the organic combination of market economy and planned economy, and the leading position of the state in the financial field. Investment in the state owned economy is mainly concentrated in large enterprises that are capital – and technology intensive, such as infrastructure construction and metallurgy and chemical industry. The investment sector of the private economy is mainly small and medium sized enterprises that produce daily consumer goods such as food processing and textiles.

In the 1980s, the Turkish government abandoned the import important industrial development model, formulated new economic development strategies, encouraged private investment, expanded the market economy, established a free trade zone, and emphasized the competitiveness of the international market in the context of globalization. Furthermore, Turgutz Özal was appointed as the deputy prime minister to oversee economic affairs. In the year after the military coup, Özal's economic recovery plan was initially implemented, and the inflation rate fell from 140% to 35%. The government's fiscal revenues and expenditures gradually became balanced. After Özal was elected prime minister in 1983, he increased the implementation of new economic policies, devalued currencies, raised interest rates, frozen wages, encouraged private investment, attracted foreign investment, encouraged exports, relaxed import and export trade and currency restrictions, and increased export competitiveness. To alleviate the trade deficit, improve fiscal revenue and expenditure, and curb inflation. At the same time, the government is committed to transforming state owned enterprises and promoting the privatization of state owned enterprises. Since 1984, the government has abolished the preferential and subsidy policies enjoyed by state owned enterprises, implemented fair competition between state owned enterprises and private enterprises, and sold privately owned enterprises' securities and stocks to privately, canceled private investment restrictions, and expanded private investment.