Turkey’s Lessons for Emerging Economies
* The turmoil in Turkey is a clear warning for emerging economies that share some of Turkey’s economic features — low savings rate, heavy reliance on foreign borrowing and high inflation
* For Turkey, an urgent issue is to restore investor confidence
Not that long ago, Turkey’s emerging economy was the darling of global investors.
Robust growth driven by massive investments and construction tripled Turkey’s per capita GDP in 15 years and made it the world’s 17th largest economy.
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