Turkish business practices are robust enough after reforms to face likely strains from expected strong growth, the Organization for Economic Cooperation and Development (OECD) said in a report Tuesday.
But some company directors and big shareholders, notably in family-controlled groups, had to show more respect for the spirit as well as the letter of regulatory standards, the OECD said.
Turkey has staged a spectacular economic recovery since a financial crisis in 2001, sparked by delays in reform of banking practices as required under an agreement with the International Monetary Fund (IMF).
Since then Turkey has been applying a re-drawn but rigorous reform program sponsored by multibillion-dollar loans from the IMF.
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