An Anatomy of the Economy of the 'Turkish Republic of Nothern Cyprus' ("TRNC")

Theophanous, Andreas and Tirkides, Yiannis and Pelagidis, Theodore (2008): An Anatomy of the Economy of the 'Turkish Republic of Nothern Cyprus' ("TRNC"). Published in: Journal of Modern Hellenism , Vol. 25-26, (2008)

Abstract

Despite growth in recent years, the economy of the “TRNC” remains fragile and the sustainability of the convergence process without due reform and restructuring is questionable. For sustained investment and growth, far-reaching reforms are certainly required in the private and public sectors, in banking and finance and in the workings of a market economy. This paper presents an overview of the “TRNC” economy, develops the appropriate policy framework and sets clear strategic objectives for growth and efficiency.1 An overall assessment is that growth and developmental objectives can be better met within the framework of a unified Cypriot economy, which is part of the European and international economy.

• Item Type: MPRA Paper
• Language: English
• Keywords: Cyprus Economy, Sectoral Economics, Financial Sector, Labour Market
• Subjects: E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy; G - Financial Economics > G0 - General; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development

References

Theophanous A. and Tirkides Y. (Eds), Accession to the Eurozone and the Reunification of the Cyprus Economy, Intercollege Press, Nicosia 2006 (especially chapters I and VI). Ionnides Ch. P., In Turkey's Image: The Transformation of Occupied Cyprus into a Turkish Province, Aristide D. Caratzas, New Rochelle NY 1991. Mullen F. (Ed.) "Economic Perspectives in Cyprus: the path towards Reunification", PRIO Cyprus Center, 2007, p. 18 22 November 2006. Watson M. and Herzberg V., Wolfson Cyprus Group Conference, "Sustainable Economic Development in Cyprus: Towards Economic Convergence and Reunification - The Case of the Northern Part of Cyprus (Macroeconomic and Financial Frameworks)", May 2005, pp. 1-21. Ministry of Finance of the Republic of Cyprus, The Economy in the Occupied Part of Cyprus: An Assessment, Nicosia, June 2006. Noe W. and Watson M., "Convergence and Reunification in Cyprus: Scope for a Virtuous Circle", ECFIN Country Focus, Vol.2, no.3, 2005, pp.1-7. Theophanous A. and Tirkides Y., "The Cyprus Economy in Perspective: an Analysis of Growth and Structure", in Theophanous A. and Tirkides Y., Accession to the Eurozone and the Reunification of the Cyprus Economy, pp.70-73. Bahcheli S., "Census reveals soaring population in north", The Cyprus Mail, 7 May 2006.