Publication Date: 2023/12/20
Abstract: This paper examines the economic shifts in Turkey during Recep Tayyip Erdogan's presidency (2014-present). Initially marked by stability and growth through AKP-led reforms, Erdogan's tenure took a controversial turn after a failed 2016 coup, resulting in strained international relations and economic repercussions. Erdogan's constitutional changes in 2017 concentrated presidential power, with his unorthodox economic approach causing severe instability in 2022, including an 80% inflation rate. The paper analyzes the economic consequences, emphasizing Erdogan's decision to decrease interest rates during inflation. It also explores Turkey's recent policy reversal, where a dramatic interest rate hike, the first since March 2021, aims to address the soaring inflation. The research provides insights into Erdogan's economic legacy and the challenges facing Turkey's future stability.
Keywords: Inflation, Interest Rates, Fx Rate, Sectors, Lira, Monetary.
DOI: https://doi.org/10.5281/zenodo.10409704
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT23DEC754.pdf
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