How Did Turkey overcome 2001 Debt Crisis : A Harvard Paper

It hasn’t been a lot of time since I had a SKYPE chat with a good friend from Turkey, one of Major Entrepreneurs in his country and a lovely person.  He mentioned Turkey’s Debt Crisis in 2001 and that triggered my curiosity to collect more information on the factors that brought a THIRD-WORLD Economy back then  to one of the most rapidly EMERGING ones today in 2011-2012.

Please find the PDF of a HARVARD Paper on the subject, and try to evaluate the key-factors.

It goes without saying that various political factors other than the strict monetary policy of Turkish Central Bank, as Commercial Affiliations with Countries -banned from many- like IRAN also played a Major role to the Turkish “miracle” we witness today.