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Pelin Link / Cumhuriyet- public opinion in the economy of Turkey will establish a new cabinet of President Recep Tayyip Erdogan in recent days Prof. Dr. Daron speaks about the statement that Acemoglu ordered.
author Haberturk Nagihan Gypsum n "increase" Daron Acemoglu can arrive at the economy in rumor "Turkey was put to Acemoglu point itself. Acemoglu, in his statement to my newspaper, said that he did not come to such an offer, "No one has spent the model with me." The words spoken are just gossip. "the world's most cited as one of the 10 economists Massachusetts Institute of Technology (MIT) Professor Daron Acemoglu at once to rumors in the audience and responded to questions about the future of Turkey.
The Future Dark
Acemoglu, known for criticizing the government's economic policies, sees the future of the economy as bleak unless focusing on medium-term policies rather than on short-term policies to solve structural problems. Structural in the economy of Turkey, professor of political science and famous to draw the attention of the problems with justice, think not so easy to solve by the end of the problems of & Electoral uncertainty
Daron answers to Acemoglu to questions as follows :.
– There are rumors in the public mind that you are going to be held in the new cabinet of President Tayyip Erdogan. Do you want to comment on these rumors?
Nobody spent the theme with me. So I think these are just rumors.
-Turkey What are your expectations with regard to the economy?
The electoral uncertainty has disappeared. Will the economy of Turkey recover quickly? I do not think so. I think the structural problems of the economy of Turkey. Strong inflation, low investment rates and uncertainties over the elections that caused the appreciation of the dollar. Structural problems over the past 10 years, Turkey's economic growth by credit and fueled being related to the real estate sector. The economy of Turkey over the past 10 years, productivity growth has not been too much.
Not required
– Inflation is double dynasty for 10 consecutive months. Growth forecasts are negative for the second half of the year. Is there a risk of stagflation in the economy?
I think that there is a risk of a hard landing. This scenario is a very familiar scenario for emerging economies that are experiencing growth, fueled by consumption and not subject to foreign trade, in the real estate and construction sectors. It follows a growth like this and then a sudden position. Sometimes negative growth and sometimes inflation, sometimes bring problems in the banking sector. Turkey, I hope that the negative growth, especially in the bankruptcy of many companies in the construction industry and avoid the risk of a hard landing containing the spread to the rest of the banking and l & rsquo; # 39; s economy. However, "I do not think we have done the hard landing is necessary to avoid".
IMF program
Do you think that it is only one of the most fragile countries, Turkey yet? Can you solve the problem of an IMF program?
Yes, there are serious risks for Turkey. We have one of the highest inflation rates and one of the highest rates in terms of current account deficit. But as I said, I am more worried than the underlying structural issues. I think it could help the IMF program, but we just do not need to think in the short term, in the medium term.
Freedom of the press to know the state of healthy growth
Rights -Rights, institution of independence, freedom of the press and the European criteria of the policy against the 39 Economy of Turkey in a Negative Way Does it Affect? What is the impact of democracy on economic standards?
Much research, including my book The Fall of Nations, has been linked to this link. Democracy is good for growth. Political institutions that support political freedom are good for growth. This, of course, does not mean that you can not have growth without political freedom. China shows that it is possible. But overall, if society is liberated from oppression, freedom of expression, democratic control mechanisms, the economy is promoted and better if it does not exist. is not captured by circles of power and interests.
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