Politikekonomi.net Working Paper No: 2017-1 ver. 1.0
This paper introduces Turkey’s recurring economic cycle over the last century. Different from worldwide business cycles with a typical duration of 3-10 years and long waves of 40-60 years, Turkey’s economic cycle has a consistent duration of 20 years and is of a fixed shape. Turkey’s economic cycle does not overlap with worldwide business cycles or long waves. Worldwide business cycles and long waves can be explained by changes in the conditions of production, consumption and finance, but in the case of Turkey’s economic cycle such factors do not seem to be applicable.