The standing of industrialization has fallen in the list of social and ecomic objectives of developing countries in recent years. Turkey provides an ideal example of this beginning with a program adopted in 1980 under the auspices of the IMF and the World Bank. The macroecomic and microecomic issues concerning Turkish industrialization in global context with particular emphasis on the decade of the 1980s are examined. The rapid transformation in industrialization strategy from import substitution under heavy state direction to outward orientation has had a profound effect on industrialization of Turkey.
FIKRET SENSES is a Professor of Economics in the Department of Economics at the Middle East Technical University, Ankara, Turkey. He has published books and journal articles on the growth of the Turkish economy, and was an Economist with the Central Bank of Turkey.