Turkey’s Transitions : Integration, Inclusion, Institutions

Turkey has always been a country of strategic significance. Its geographic position as a bridge between East and West, its long and unique history of relations with the European Union (EU), and the particular rout the Republic of Turkey chose towards modernization after its foundation in 1923 have attracted the attention of historian and political scientists a like. More recently, Turkey’s economic success has become a source of inspiration for a number of developing countries, particularly – but no only – in the Muslim world. Over the last two years, however, questions have emerged over the lessons to be drawn from Turkey’s experience. Economic growth has come down to a modest 3-4% range - from well over 5% during 2002-2011 - and risks related to the country’s large external financing needs have not been banished. Critics have raised questions over the strength of Turkey’s legal and economic institutions, and economists are concerned that Turkey may remain ‘trapped’ in its current middle income status. This publication is addressed to policy makers both from other emerging markets and from Turkey itself. To the former, if offers lessons in how Turkey progressed towards international integration and increased social inclusion. To the latter, it offers a narrative of the country’s achievements and remaining challenges that may help define the reform agenda going forward.

Bibliographic Details

Main Author:	World Bank
Format:	Country Economic Memorandum biblioteca
Language:	English en_US
Published:	Washington, DC 2014-12-01
Subjects:	ACCOUNTABILITY, ADVANCED COUNTRIES, ADVANCED ECONOMIES, BALANCE SHEET, BANK FOR INTERNATIONAL SETTLEMENTS, BANKING REGULATION, BANKING RESTRUCTURING, BANKING SECTOR, BANKING SYSTEM, BARRIER, BINDING CONSTRAINTS, BUSINESS APPLICATIONS, BUSINESS CLIMATE, BUSINESS ENVIRONMENT, BUSINESS REGULATION, BUSINESS REGULATIONS, BUSINESS SECTOR, CAPITAL BASE, CAPITAL INFLOWS, CENTRAL BANK, CENTRAL BANKS, CIVIL LIBERTIES, CLOSED ECONOMY, COMMERCIAL BANKS, COMMUNICATION TECHNOLOGIES, COMPETITIVE MARKETS, CONNECTIVITY, CREATION OF JOBS, CURRENCY, CUSTOMS UNION, DEBT, DEBT SERVICE, DECENTRALIZATION, DEMOCRACIES, DEMOCRACY, DEMOGRAPHIC, DEPOSIT, DEPOSIT INSURANCE, DEREGULATION, DEVELOPING COUNTRIES, DISTRIBUTION OF INCOME, DIVIDEND, DOMESTIC CAPITAL, DOMESTIC CAPITAL MARKETS, DOMESTIC MARKET, DOMESTIC PRICES, ECONOMIC CONDITIONS, ECONOMIC CRISIS, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC INTEGRATION, ECONOMIC LIBERALIZATION, ECONOMIC PERFORMANCE, ECONOMIC STRUCTURE, EMERGING MARKET, EMERGING MARKETS, EMPLOYMENT, ENERGY RESOURCES, ENTREPRENEURSHIP, EXCHANGE RATE, EXTERNAL FINANCING, EXTRABUDGETARY FUNDS, FINANCIAL CRISES, FINANCIAL CRISIS, FINANCIAL INSTITUTIONS, FINANCIAL INSTRUMENTS, FINANCIAL INTEGRATION, FINANCIAL MANAGEMENT, FINANCIAL MARKETS, FINANCIAL SECTOR, FINANCIAL STABILITY, FINANCIAL SYSTEM, FISCAL CONSOLIDATION, FISCAL POLICY, FOREIGN CAPITAL, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN FINANCING, FOREIGN INVESTMENT, FOREIGN INVESTORS, FOREIGN MARKETS, FOREIGN TRADE, GLOBAL ECONOMY, GLOBAL EXPORT, GLOBAL EXPORTS, GLOBAL INVESTOR, GLOBALIZATION, GOVERNANCE INDICATORS, GOVERNMENT DEBT, GROSS DOMESTIC PRODUCT, GROWTH RATE, GROWTH RATES, HEALTH SERVICES, HOUSING, HOUSING PROVISION, HUMAN CAPITAL, INCOME, INCOME DISTRIBUTION, INEQUALITY, INFANT MORTALITY, INFLATION, INFLATION RATE, INFRASTRUCTURE DEVELOPMENT, INFRASTRUCTURE INVESTMENTS, INSTITUTIONAL ENVIRONMENT, INSTITUTIONAL REFORMS, INSURANCE, INTELLECTUAL PROPERTY, INTEREST RATE, INTEREST RATES, INTERNATIONAL CAPITAL, INTERNATIONAL CAPITAL MARKETS, INTERNATIONAL ECONOMY, INTERNATIONAL INVESTORS, INTERNATIONAL TRADE, INVESTMENT CLIMATE, INVESTMENT OPPORTUNITIES, JOB CREATION, LABOR MARKET, LABOR MARKETS, LAWS, LEGISLATION, LEVEL PLAYING FIELD, LIBERALIZATION, LIFE EXPECTANCY, LIQUIDITY, LIVING STANDARDS, MACROECONOMIC POLICIES, MACROECONOMIC STABILITY, MARKET PERFORMANCE, MARKET REGULATION, MARKET REGULATIONS, MARKET SHARE, METROPOLITAN AREAS, MIGRATION, MOBILE PHONE, MONETARY AUTHORITIES, MONETARY POLICIES, MONETARY POLICY, MONOPOLIES, MORAL HAZARD, MUNICIPAL SERVICES, MUNICIPALITIES, NATIONAL DEVELOPMENT, NEW MARKETS, NONBANK FINANCIAL INSTITUTIONS, PENSIONS, PER CAPITA INCOME, PER CAPITA PUBLIC EXPENDITURES, POLITICAL DEBATE, POLITICAL INSTABILITY, POLITICAL INSTITUTIONS, POLITICAL POWER, PORTFOLIO, POWER PARITY, PRIMARY EDUCATION, PRIVATE INVESTMENT, PRIVATE INVESTMENTS, PRIVATE SECTOR CREDIT, PRIVATIZATION, PRODUCTIVITY, PROPERTY RIGHTS, PROTECTION TO INVESTORS, PUBLIC DEBT, PUBLIC FINANCE, PUBLIC FINANCES, PUBLIC FUNDS, PUBLIC HOUSING, PUBLIC PENSION, PUBLIC POLICY, PUBLIC SECTOR GOVERNANCE, PUBLIC SERVICES, PUBLIC TRANSPORT, PURCHASING POWER, PURCHASING POWER PARITY, RED TAPE, REGULATOR, REGULATORS, REGULATORY AGENCIES, REGULATORY AUTHORITY, REGULATORY FRAMEWORK, REGULATORY INSTITUTIONS, REMOTE REGIONS, RENEWABLE ENERGY, REPUTATION, RETIREMENT, RISK TAKING, RULE OF LAW, SAVINGS, SECURITY ARRANGEMENTS, SHAREHOLDERS, SOCIAL DEVELOPMENT, SOCIAL OUTCOMES, SOCIAL SECURITY, SOCIAL SERVICES, STATE BANKS, STATE ENTERPRISES, TAX, TAX RATES, TELECOMMUNICATIONS INFRASTRUCTURE, TRACK RECORD, TRANSPARENCY, TRANSPORT, TREASURY, URBAN SERVICES, URBANIZATION, VERTICAL INTEGRATION, VOLATILITY, WORLD DEVELOPMENT INDICATORS, WORLD ECONOMY, WORLD TRADE, YOUNG PEOPLE, YOUTH,
Online Access:	http://documents.worldbank.org/curated/en/2014/12/20470497/turkeys-transitions-integration-inclusion-institutions-vol-2-main-report http://hdl.handle.net/10986/20688
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