Turkey in Turbulence: Heterodoxy or a New Chapter in Neoliberal Peripheral Development?

ABSTRACT While global monetary tightening by central banks, led the US Federal Reserve, has heightened concerns about a slowdown in world's economy and an increased likelihood of debt crises across developing countries, Turkey attracted attention for doing opposite. Indeed, country's economic policy makers have intensified easing towards credit expansion at risk exchange rate instability. This article analyses Turkish case makes four contributions. First, it establishes framework through which we can understand interpret choices government. Second, shows binding effects trilemma context fully integrated discusses how government tried to tackle these series ad hoc measures. Third, discloses distributional consequences such manoeuvres argues that burden adjustment fell on shoulders wage labour, while various competing rentier interests benefited from policies. Fourth, authors analyse policies broader perspective whether they be interpreted as courageous attempt peripheral claim some space, or essence only amount deepening neoliberal peripheralization.