Independent and cutting-edge analysis on Turkey and its neighborhood

The stories of Turkey and Argentina need to be viewed from three different perspectives to better understand the causes and trajectory of the crises experienced by the two countries: 1.The long term development path. 2.The major economic imbalances behind the crises  3.The actions of the policy makers before, during and after the crises. This article focuses on the first point, long term development, and attempts to link it to the other two. Main conclusions are that 1. economic stability in the medium term is dependent on the maintenance of the two major resource flow balances of a country - the fiscal position and the current account position, 2. a credible and rational mechanism must be in place to manage the resource allocation question and 3. when it is time to "pay the bill", delays only increase the damage.

 
CONTRIBUTOR
Ümit Kumcuoğlu
Ümit Kumcuoğlu
This issue was published in collaboration with the Friedrich Naumann Foundation Turkey Office.
From the Desk of the Editor TPQ’s Fall 2019 issue, published in collaboration with the Friedrich Naumann Foundation, titled Populism and the Age of Upheaval, examines the rise of populism and its impact on the international order – from governance issues to the environment to gender ideology. Since 2016, the world has been monitoring and trying to forecast the turnout of a series of events that started with...
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