Question

What do you know about industrial development of Turkey!​

Answer 1

Answer:

The economic history of the Republic of Turkey may be studied according to sub-periods signified with major changes in economic policy:

1923–1929, when development policy emphasised private accumulation;

1929–1945 when development policy emphasised state accumulation in a period of global crises;

1950–1980, a period of state guided industrialisation based on import substituting protectionism;

1980 onwards, opening of the Turkish economy to liberal trade in goods, services and financial market transactions.

However one distinct characteristic between 1923–1985, 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