Turkey's Economy: Checkpoint 1

Quick checkpoint - five questions on Turkey's economy, statism, the 2001 crisis, the boom and rate cuts.

Quick checkpoint - five questions on Turkey’s economy, statism, the 2001 crisis, the boom and rate cuts.

Question 1 of 5 Which crop is Turkey a world leader in?

Hazelnuts Rice Coffee Tea only

The Black Sea coast grows most of the world's hazelnuts.

Question 2 of 5 What was etatism in 1930s Turkey?

State-led industrialisation Free trade Colonial rule Banning industry

The state founded factories.

Question 3 of 5 What reform followed the 2001 crisis?

Central bank independence and bank restructuring Printing more money Closing all banks A fixed peg forever

Inflation fell to single digits by the mid-2000s.

Question 4 of 5 What drove Turkey's 2000s boom?

Stability, capital inflows and construction Oil exports Closing borders Hyperinflation

Foreign borrowing also built vulnerabilities.

Question 5 of 5 What happened after Turkey cut rates in 2021 despite inflation?

Inflation soared and the lira fell Inflation disappeared The lira doubled in value Nothing changed

Inflation peaked near 85 percent in 2022.

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