OECD Economic Outlook, Volume 2004 Issue 1
OECD's June 2004 assessment of economic developments and prospects. In addition to the regular economic assessments and statistical information, this issue includes articles examining whether housing and mortgage market arrangements explain different degrees of economic resilience shown by OECD economies, through what mechanisms the US external deficit could adjust, to what extent stock market gyrations and one-off measures distort traditional measures of the fiscal stance, and how structural reform could enhance income convergence in Central European countries.
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Turkey
Growth was robust in 2003 and should continue above 5 per cent in 2004 and 2005. It is driven by exports and by improved consumer and business confidence, stemming from successful macroeconomic stabilisation which has reduced real interest rates. The government should sustain the recovery by sticking to rigorous fiscal and monetary policies so as to ensure macroeconomic stability. They should also act to develop and fully exploit the potential of the economy by enforcing and strengthening structural reforms in financial, labour and infrastructure markets as well as in the government sector...
Also available in: French
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