The past 13 years have looked like a success story for Turkey. Under the ruling party, the Turkish economy has grown substantially and economic growth remains a central priority for President Erdogan and his party. However, the short-term benefits of their growth policies conflict with long-term national interests. Moreover, declining rule of law, attacks on freedom of speech, and rising instances of corruption could have economic costs.
With proper management, the Turkish economy could indeed become a shining star, but without it, Turkey may be stuck in the middle-income trap forever.
BPC held a report release and a discussion of the risks and prospects facing the Turkish economy heading into the 2015 parliamentary elections and beyond.
Deputy Director, International Monetary Fund’s European Department
Dr. Sebnem Kalemli-Ozcan
Professor of Economics, University of Maryland
Founder, Sidar Global Advisors
Former Senior Professional Staff Member, House Foreign Affairs Committee
Member, BPC Turkey Task Force