Outward orientation and exchange rate policy in developing countries : the Turkish experience

The first section of the paper examines the principal characteristics of inward-oriented policies and their economic effects, describes the policy content of reform efforts made by developing countries, and indicates the impact of outward-oriented policies on exports and economic growth; the second section reviews the Turkish experience with inward orientation, briefly describes the 1980-81 reforms, and analyzes the economic effects of these reforms; policy priorities for the future. (DÜI-Hns)