Economic history of Turkey

The economic history of the modern Republic of Turkey has four eras. The first era's development policy was defined by the transition from an agricultural imperial Ottoman economy into a diversified more industrialized economy. It emphasized on private accumulation between 1923 and 1929. The second era's focus was state accumulation in a period of global crises between 1929 and 1945. The third era focused on state-guided industrialization based on import-substituting protectionism between 1950 and 1980. The final era was the opening of the economy to liberal trade in goods, services, and financial market transactions since 1981.

Since 2018 the Turkish economy has been in a state of crisis. The Middle East institute has raised the possibility that Turkey is currently in a new economic era under President Erdoğan defined by reduced institutional financial independence, negative foreign exchange deficits, and political interference.