Turkey's economy was already struggling before the coronavirus pandemic hit. It has few options to limit the impact of the crisis.
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Articles on Turkish Economy
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The financial crisis provoked by the lira's fall isn't the true drama in Turkey. The real drama is a democratic transformation threatens the increasingly authoritarian president, Recep Tayyip Erdoğan.
President Erdoğan is accusing the West of striving to destabilise Turkey.
The Turkish lira has dropped more than 15% this year against the US dollar.
Does the Turkish government have ulterior motives in its attempt to make Istanbul a global financial centre?
Quick measures by the central bank prevented a financial crisis, but investors are worried. Longer-term economic effects will depend on how long Erdogan's purge goes on.
Top contributors
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Lecturer in Behavioural Sciences, Lancaster University
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Professor of Finance, King's College London
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Henry J. Leir Professor of Practice in Economics of the Middle East, Brandeis University
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Professor of International Relations, Keele University
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Associate Professor, School for the Future of Innovation in Society, Arizona State University
