| Author (Corporate) | Organisation for Economic Co-operation and Development (OECD) |
|---|---|
| Publisher | OECD Publishing |
| Series Title | OECD Economic Surveys |
| Series Details | July 2016 |
| Publication Date | July 2016 |
| ISSN | 0376-6438 |
| Content Type | Report, Statistics |
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OECD iLibrary subscribers can access this title through the ESO Source url hyperlink. Non-subscribers can sometimes access a free access read only version, or read an extended summary of the source, through the ESO related url hyperlinks.Turkey’s economy has proven remarkably resilient in the face of a challenging global economic context. However, further action can be taken to raise productivity and advance the shift to a more balanced, sustainable and stronger growth path that will boost living standards for the entire population, according to the 2016 OECD Economic Survey of Turkey published in July 2016. Future reforms should aim to strengthen economic resilience and social cohesion, improve the business environment and extend Turkish firms’ capacity to participate in global value chains, according to the Survey. The Survey encourages Turkey to continue pursuing prudent macroeconomic policies aimed at bringing down inflation, increasing domestic savings, improving women’s participation in the labour force and boosting foreign direct investment. The OECD encourages Turkey to continue moving forward with a wide-ranging Action Plan to address structural problems in the regulatory environment. At the same time, labour market reforms to reduce informality, the simplification of business entry and exit rules, and new trade policies to foster exports should remain priorities. Ensuring a level playing field for businesses of all sizes and improving the quality of human capital will be essential to reviving productivity growth, accelerating the convergence between different types of firms and generating broad-based formal employment. Turkey's integration in global value chains remains below its potential. Improvements in trade and investment policies would make export orientation more profitable and attract more foreign direct investment. Moreover, substantial investment in human and knowledge-based capital will be necessary to catch up with international best practices. In addition, the Survey examines the issue of the influx of refugees from Syria which has boosted demand, but also poses short term challenges to labour markets. Continued progress with Turkey’s labour market reforms and further efforts to guarantee educational opportunity for new arrivals would help integrate refugees into higher quality jobs in the formal sector. |
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| Source Link | Link to Main Source http://www.keepeek.com/Digital-Asset-Management/oecd/economics/oecd-economic-surveys-turkey-2016_eco_surveys-tur-2016-en |
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| Countries / Regions | Turkey |
