Wilh revoluıionary changes in ıhe sysıem, Turüy's sırategic posilion has sıarıed LObeing evaluaıed.ln ıhis conıal some observers in Turkeyl and ıhe Wesı 2 have been examining how Turkey ıo'be ajfecıed by ıhese developmenıs and how lo continue lObe poıenıially imporıanı aclor in Europe, ıhe Middle Eası and Asia polilically, economically and sıraıegically. In this paper, by analysing the basic macroeconomic indicators like growth, industrial production, the structure of export and import, inflation, unemployment, we also focuse on human development, institutions and democracy In this work, beyond the analysis of the current situation, we evaluate the challanges and possibilities Turkey will face in the near future, by focusing on the variables which will have an impact on the economic and social performance of the country.Īnkara Üniversitesi Siyasal Bilgiler Fakültesi Dergisi (Prof. The source of the data for World Economy are obtained from OECD, World Bank, Eurostat and UNDP. Data used in this study are basic macroeconomic indicators published by TUIK and the globalization indices are taken from the work Axel, Gaston and Martens (2008), human development data on Turkey, published by UNDP. The analysis is applied to the Turkish economy for the 1980-2015 period, and it is divided to two sub-periods that are 15. In this work, we discuss the changing position of Turkish economy in a changing/shifting world from a multidimensional perspective. The global tendencies indicate that there will be a major shift in specialisation amoungst countries which will in turn change the distribution of added value in the whole world. The recent studies showed that the global economy will be in a process of restructuring while, pursuing and monitoring of national and regional policies will become harder in the near future. On the other hand, the reasons for the depth and length of the crisis are several, but many of the tensions and imbalances that fed the crisis resulted from deep-seated trends that are unlikely to reverse in the coming decades, at least without major changes in policies. The key regions of the world economy continue to underperform pre-crisis developments, This showed that lots of countries still can’t handle the effects of crisis. Of strategies to support the recovery of the economy and minimize the risks of relapse into stagnation. In addition, Turkey remains vulnerable to potential changes in investor sentiment towards emerging markets. Any changes to this image would cause capital flight, as exemplified by the outflow of portfolio investment and an increase in the cost of external debt that followed the nationwide protests over the proposed closure of Gezi Park last summer. Consequently, Ankara has become a hostage of its own image as an economically successful state with a stable socio-political system. This leaves Turkey exposed to over-dependence on investors, especially from the West. These include the country’s current account deficit, its over-reliance on short-term external financing, and unfinished reforms, for example of the education sector. However, the risks associated with a series of unresolved issues are becoming increasingly apparent. Economic development has been the basis of both socio-political stability inside the country and of an ambitious foreign policy agenda pursued by the AKP. In the decade since the Justice and Development Party (AKP) came to power, Turkey’s economy has become synonymous with success and well-implemented reforms.
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