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Temporary Star or Emerging Tiger? Turkey's Recent Economic Performance in a Global Setting

Published online by Cambridge University Press:  21 July 2015

Ziya Öniş  and
İsmail Emre Bayram
Ziya Öniş
Affiliation:
Department of International Relations, Koç University, İstanbul, Turkey, [email protected]
İsmail Emre Bayram
Affiliation:
Department of International Relations, Koç University, İstanbul, Turkey, [email protected]
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Abstract

This article assesses the recent performance of the Turkish economy, questioning whether the currently observed unusual boom conditions will lead to a process of sustainable growth. The latest phase of Turkish neo-liberal transformation in the post-2001 era is placed in a broader historical and global context; at the same time, the performance of the economy in recent years is compared with that of other key emerging markets, based on selected macroeconomic indicators. Utilizing the East Asian experience as the principal benchmark for comparison, this paper examines whether Turkey is on its way to accomplishing tiger-like development performance. Given the current challenges to sustainable growth, we conclude that it is premature to suggest that the impressive performance of the recent years will lead to durable success and tiger-like performance. While the focus is on the Turkish experience, the paper also probes the very nature of tiger-like performance itself, highlighting the fact that in setting standards for exceptional economic performance we need to extend our horizons beyond high rates of economic growth sustained over time, to broader indicators of social, political and human development.

Keywords

Turkeyhyper-growthEast Asian tigersemerging marketshuman developmentdemocratization
Type
Articles
Information
New Perspectives on Turkey , Volume 39 , Fall 2008 , pp. 47 - 84
Copyright
Copyright © New Perspectives on Turkey 2008

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