Abstract :
Different economic policies have been carried out from 1923 till today in Turkey. We can cyclically classify the economic policies in Atatürk’s era as the period from the proclamation of the republic in 1923 to the world economic depression in 1929, the period in which liberal economic policies were practiced, and the statist economic policies practiced from 1930 until the death of Atatürk in 1938. In this study, the economic policies in Atatürk’s era (1923-1929) have been scrutinized. When the new Turkish State was established in 1920, it took over a very bad heritage from the Ottoman. In such a situation the ware of independence would be fought. Atatürk, in order to become a complete independent state, first emphasized the economic independence. For this purpose, İzmir Economic Congress was held in order to take some economic precautions and immediately practice them. This congress plays an important role in being the first congress held in the field of economy in the republic era in Turkey and in adopting the mixed economic model. At the end of the congress with the publication of a document named Misak-i (National) Economy, it was accepted that foreign capital would be permitted under the condition that it would develop home production, avoid luxary consumption, and contribute to economic development. In addition, important decisions that include 281 items were made by a group of farmers, merchants, businessmen, and labors. On the other hand, the decisions made in İzmir Economic Congress and the economic policies in RPP (CHP) took place in the programs of the established governments. With the establishment of Turkish Bank, the Industry and Mine Bank, and other local banks the credit facilities were increased. With the Law for The Encouragement of Industry in 1927, both the local industry was encouraged and the private industry was taken under protection. The economic crisis that first started in America and affected the whole world also affected Turkey and it become compulsory to take new economic precautions. At this vein, National Economic and Austerity Community was founded. The community had primarily three basic goals. These goals were to direct people to spare, save, and increase the use of local goods. As a result, it was aimed to increase the local production by decreasing import. On the other hand, the Law for Protection of the Value of Turkish Currency was introduced and it became possible to intervene the foreign exchange market. With this law, it paved the the way for those who tried to decrease the value of money to be punished. However, all these precautions fell short for stabilization because there was no bank to take the money policy under control. For this reason, the Law for the Central Bank was introduced. As a result, the economic foundations were laid by creating a new economic model.
