Featured paper · 2020
Facts on Business Dynamism in Turkey
Why Turkish firms stopped growing, told in declining startup rates and the rising market share of incumbents. The paper assembles a near-universal panel of Turkish firms and documents a pattern that mirrors the American slowdown a decade later.
Ufuk Akcigit, Yusuf Emre Akgunduz, Seyit Mümin Cilasun, Elif Özcan-Tok, Fatih Yilmaz. European Economic Review, 2020.
The policy line
Turkey's productivity slowdown was visible in firm-level data five years before it was visible in macro aggregates. The diagnostic was available; the response was not.
Summary
Why Turkish firms stopped growing, told in declining startup rates and the rising market share of incumbents. The paper assembles a near-universal panel of Turkish firms and documents a pattern that mirrors the American slowdown a decade later.
The Academy uses this paper as a primary text across its five pillars. The full text is available at the publisher.
