The State and the Industrialization Crisis in Turkey by Henri J. Barkey

Author:Henri J. Barkey [Barkey, Henri J.]
Language: eng
Format: epub
Tags: History, General, Middle East
ISBN: 9780813380254
Google: O9-7AAAAIAAJ
Goodreads: 7417760
Publisher: Westview Press
Published: 1990-10-16T00:00:00+00:00

Policy-Based Cleavages

The policy issues that divided private sector interests ranged from industrialization policies to interest rates and quota allocations. These can be divided into five broad categories (1) protectionism and import substituting industrialization, (2) foreign trade and exchange rate policy, (3) banks and bank credits, (4) direct foreign investments, and (5) land and tax reform. While the saliency of these issues varied at different times, the intensity of conflict was determined by the availability of foreign exchange. In an economy as dependent as Turkey on foreign exchange receipts, shortages in such foreign exchange resources simultaneously restricted and increased opportunities for gains. This was the case because foreign exchange represented the primary source of economic rents. Therefore, it is not surprising that some import substituting businesses performed extremely well at the height of the economic crisis by manipulating this scarce resource.

The private sector achieved a modicum of cohesiveness only at the end of 1979 when confronted with a complete collapse of the economy. Until then, groups pursued their own interests with little regard for the long-term ramifications of their actions; any appearance of collaboration between them was due to the similarity in short-term interests and not to conscious attempts at restructuring industrial policies.

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