A central bank like the federal reserve in the united states can help banks survive a bank run by9/26/2023 ![]() ![]() Over the past decade, Turkey has been on a steadily downward trajectory both economically and politically. Whoever emerges victorious in 2023, whether it is the current government or the opposition alliance, will face strong headwinds from tough international economic conditions and lofty popular expectations as they try to put the economy back on track.A change in government is likely if free and fair elections are held. Previous balance-of-payment crises in Turkey have ended in military interventions or the collapse of political parties.This has driven many young people, especially the well-educated, to emigrate abroad, while social unrest at home is likely to increase. Turkey will struggle to achieve sustainable growth and prosperity under its current presidential system. ![]() All of the papers will be available on the series landing page as they are released throughout the month of October. This paper is part of the series Turkish Views: Crisis and Opportunities for Turkey in 2023.
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