The current account balance of the Turkish economy has deteriorated rapidly since 2003. Starting from a positive surplus in 2002, the current account deficit currently amounts to 6.6 percent of the GNP. This article investigates the structural causes of this phenomenon and argues that the mode of finance of the deficit thus far has been based on short term foreign capital flows with a significant debt burden.
Primary Language | Turkish |
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Journal Section | Research Article |
Authors | |
Publication Date | January 1, 2005 |
Published in Issue | Year 2005 Volume: 4 Issue: 7 |