Industrialization strategies, foreign trade regimes and structural change in Turkey 1980–8

Between 1963 and 1977 (with the exception of a short period of liberalization), governments in Turkey adopted import-substitution industrialization strategies (ISI); due to scarcity of foreign currency, these were abandoned in 1978-9. The year 1980 marks the beginning of a new period, characterized by a consensus on the necessity to develop the economy’s export capacity and loosen the foreign exchange constraints, although not on the policy measures required.