Foreign trade regime and trade liberalization in Turkey during the 1980s

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Ashgate Publishing, Limited, 1994 - Political Science - 250 pages
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In 1979, the Turkish economy stood bankrupt and isolated from the world economy. All imports were subject to licensing and quantitative restrictions. Exports amounted to less than five per cent of GNP. Unauthorized possession of foreign currency was punishable by jail sentence. The liberalization of the economy started with the policy package of January 1980. Turkey during the 1980s adopted the policy of gradual liberalization. The liberalization process addressed first export promotion, domestic financial liberalization, and public sector reform. Import liberalization followed. Thereafter external financial liberalization and finally, the reform of capital markets were introduced. This book studies the liberalization of the Turkish foreign trade regime. It describes in detail the reforms undertaken with the objective of opening up the economy and also the extent of trade liberalization achieved over the decade.

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Import regime and protectionism

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