Foreign trade regime and trade liberalization in Turkey during the 1980s
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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2able 32 Petroleum refining 33 Petroleum 41 Fabricated metal Alcoholic beverages animal oil Ankara calculations Central Bank column commercial banks commodities commodity groups comparative advantage cost countries dated December December 22 decreased decree number denotes domestic duty economy effective protection rates etatist exchange rate exemption export credits Fabricated metal Fabricated metal products Following Tariff Rates foreign exchange fund tax fur production Grain mill growth rate I-O code Import Regime incentive Includes sectors increased interest rate Iron and steel Law Number Leather and fur Liberalization List metallic ore mining nominal protection rates nominal subsidy rates Non-ferrous metals OECD Official Gazette number payment period policies Price Stabilization Fund published quota RCA values Resource Utilization Support share of Turkish SITC Slaughtering and meat Source stamp duty Support and Price tax rate tax rebate rates total imports transport equipment Turkey Turkish exports Turkish Lira Utilization Support Fund value added tax world exports