The Republic of Türkiye, over its first century, has exemplified the unique rebuilding of a nation in economic, social, and cultural terms. Despite facing numerous challenges in the 100 years since its founding, the Republic of Türkiye has demonstrated resilience and progressed with determination, achieving economic growth and development aligned with the circumstances of each era. Gazi Mustafa Kemal Atatürk's remarks at the İzmir Economic Congress on February 17, 1923, even before the Republic was officially declared, clearly highlight the vital importance of economic growth and development for Türkiye:

"...To elevate our new Türkiye to the position it deserves, we must prioritize our economy above all else. Because the era we live in is nothing but an economic one... No matter how significant political and military victories may be, they cannot endure unless crowned by economic achievements; they soon fade away. Therefore, to secure and expand the benefits gained from even our most powerful and brilliant victories, we must ensure, solidify, and broaden our economic sovereignty…"

The primary goal of the young Republic, inheriting a devastated economy following World War I, was economic growth and development. Despite the global effects of the Great Depression of 1929, the Republic of Türkiye persistently pursued industrialization and development, achieving notable successes during this period. The economic pressures caused by World War II, the economic and political impacts of the military coups in 1960 and 1980, the Oil Crises of 1973 and 1979, national and international developments such as the Cyprus Peace Operation, the continued activities of terrorist organizations after the 1980s, the economic and political instabilities of the 1990s, the Marmara Earthquake in 1999, the Economic Crisis of 2001, the treacherous coup attempt in 2016, the COVID-19 pandemic in 2020, and finally, the earthquakes centered in Kahramanmaraş in 2023, have deeply affected the Turkish economy. Nevertheless, Türkiye has consistently succeeded in increasing its level of prosperity. These obstacles have not hindered Türkiye's transition from an agrarian society to an industrial one and, subsequently, to a knowledge-based economy. On the contrary, these experiences have strengthened Türkiye's economic resilience and capabilities, driving structural transformations in many areas.

At the time of the Republic's founding, Türkiye was an agrarian society. Over the past century, it has diversified its production structure, made significant strides in industrialization, and taken substantial steps toward becoming a modern economy. This transformation of the Republic of Türkiye is reflected in economic indicators and social development, income distribution, and global integration. This book aims to shed light on Türkiye's economic transformation by examining its story from a broad perspective. This book endeavors to present the economic achievements and challenges of the Republic of Türkiye's first century while guiding policymakers for the future.

The first chapter of A 100-Year Panorama of the Turkish Economy I examines Türkiye's economic growth performance and improvements in prosperity between 1923 and 2022, comparing them with the economic performance of the world's top 30 economies. The second chapter provides a comprehensive analysis of the industrialization process during key periods of the Republic, highlighting the rapid transformation of the economic structure. Chapter three examines the transformation of poverty from the early years of the Republic to the early 21st century. Chapter four analyzes inflation trends throughout the Republic's century-long history. The fifth chapter delves into the transformations in public finance, strategies for domestic borrowing, and the trajectory of domestic borrowing over a century. Chapter six explores concepts related to income distribution, the economic factors affecting it, and policies influencing income distribution across various periods. Chapter seven reviews the transformations in labor markets from the Republic's founding to the present day. Chapter eight investigates the political, social, and particularly economic dimensions of Türkiye's globalization process. Lastly, chapter nine examines Türkiye's renewable energy resources and explains their economic impacts.

As Türkiye embarks on its second century, it may encounter challenges similar to those it has faced in the past. Global economic and political uncertainties, the impact of climate change on agriculture and energy sectors, the adaptation process to digital transformation and artificial intelligence technologies, and demographic changes are among the factors that will influence Türkiye's future economic growth. Addressing structural issues frequently experienced by the Turkish economy, such as unemployment, high inflation, income inequality, and trade deficits, is crucial for achieving sustainable growth and increased prosperity. Türkiye possesses the strong economic foundations and human capital necessary to overcome these challenges. Our greatest hope is that Türkiye will continue to adopt sustainable growth strategies, enhance its competitiveness in the global economy, and further elevate its prosperity in its second century.

We extend our heartfelt thanks to all the authors and contributors who have supported the preparation of this work, and we hope that this book will benefit its readers.

Dr. İsmail ÇİFÇİ - Prof. Dr. Ramazan KILIÇ