Economic effects of 24 ocak 1980 economic decisions, reflection and results

With the decisions which are taken on 24th of January 1980, Turkey's economy has liberalised and integrated with global markes. The bases of free markets were laid in this period. The main starting point of this stabilization program is to prevent the negative effects of the economic collapses in 1978-1979 from being reflected in 1980. With the ineffectiveness of the stabilization policies implemented in the mentioned years, a new stabilization programme prepared by Turgut Ozal was put into practice on January 24, 1980. The January 24 decisions aimed at opening up the economy for international markets in the long run and reducing government intervention in the markets. With the liberalization of this stabilization program, foreign capital inflows increased in the 1980-1989 period, the bottleneck of the foreign currency was exceeded, and the import and export figures increased significantly. But it failed to contain inflation. Inflation rates, which could not be reduced in any way, adversely affected the income distribution justice and further reduced the income of middle and lower income groups. In this study, we will try to examine reflections, results and impacts of Economic Decisions of the January 24th 1980. Keywords 24th January, Liberalisation, Economy of Turkey, Stabilization Policies, Inflation.