Why Turkey’s Central Bank will stick with its unorthodox policies
Trusted Sources Research covers Turkey and South Africa in Emerging Europe and Africa from its Istanbul office. Our research focuses on the political and economic developments in these countries with an emphasis on infrastructure, energy, the financial sector and commodities. Our analyst in Istanbul also monitors trends in the Middle East and North Africa, in particular the implications of the “Arab Spring” for emerging economic trends in the region.
Political stability since 2002 and economic reforms have brought Turkey into the ranks of the top performers in the emerging markets. The country has grown by an average annual 5 per cent since 2002 despite the 2008 financial crisis in and in 2011 ranked second after China with GDP growth in exceeding 8 per cent. We believe that there are good prospects for further economic reforms in light of the country’s low debt and fiscal deficits.
In addition to careful assessment of the macroeconomic and policy outlook our research agenda includes studies on the growth potential and investment opportunities in banking, energy, infrastructure and leading industrial sectors. The banking sector is mature and well-developed thanks to strong regulations that were introduced after the local financial crisis in 2001. The industrial sector is mainly dominated by family-owned companies who are traded in the local stock market. Finally, the planned privatization of toll ways, bridges and electricity generation will create multiple opportunities for foreign investors in infrastructure and energy.
Our research on South Africa covers the economic and policy outlook with a special focus on the financial and mining sectors. South Africa is also entering an important political transition that merits attention because of its attractive conditions for foreign investors and ease of doing business. Because South Africa is a major participant in the global mining sector our research evaluates cross-BRIC themes in commodity markets, especially with regard to China and India.
