Macroeconomic Performance, Stability and Sectoral Composition of Output Before and After AKP (Justice and Development Party) over the Post-Liberalization Era

Abstract

The paper primarily focuses on the comparative analysis of the performance and stability of Turkish economy over the post-AKP (Justice and Development Party) period (2003-2012) relative to pre-AKP period which is specified for two alternative time periods; (1980-2002) and (1989-2002) where 1980 and 1989 signify the years during which major structural reforms (in term of internal and external liberalization) were undertaken. We compute and compare the respective period averages and volatility measures of selected macroeconomic parameters and sectorial composition of GDP in terms of traded goods.