Turkey´s Economy on the Way of Stabilization Cover Image
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Türkische Wirtschaft auf Stabilisierungskurs
Turkey´s Economy on the Way of Stabilization

Author(s): Siegfried Schultz
Subject(s): Economy
Published by: Südosteuropa Gesellschaft e.V.
Keywords: Turkish economy; EU accession of Turkey;

Summary/Abstract: In recent years, the Turkish economy has been characterised by a succession of ups and downs. Brief growth periods have been succeeded by severe crises, and these have been followed in turn by efforts to stabilise the economy. This course of events has been accompanied by shrinking growth rates and alarmingly high inflation rates. Stepwise, several reforms have been introduced since then, the positive effects of which are now becoming evident. Turkey is pinning high hopes on the possibility of joining the EU. However, this chance depends, as for the other accession candidates, on the fulfilment of numerous strict conditions. Political criteria are at the forefront of the current debate about Turkey, but economic criteria must not be forgotten either. In public debates these criteria are regarded to be achievable within the foreseeable future. Nevertheless, a closer examination of the EU documents concerning Turkey's economic progress reveals that there are still substantial deficits. If Turkey succeeds in the difficult task of overcoming these shortfalls, it will have substantially improved its competitiveness by the end of the preparation period and as a result will benefit on international markets irrespective of EU membership.

  • Issue Year: 2004
  • Issue No: 01
  • Page Range: 58-65
  • Page Count: 8
  • Language: German