From a regulationist perspective, the article discusses Turkish industrial development and industrial policies in the context of the wider models of development. Since 1989, dependent financialisation has been a defining feature of Turkey’s development model. Financialisation has been shown to impose limits on the available industrial policy options. Exchange rate policies have impaired the effectiveness of industrial promotion policies. In spite of a gradual upgrading of Turkey’s manufacturing industry, key features of dependent industrialisation – like a weak capital goods sector or a significant reliance on imported inputs – have remained in place.
