Turkish Economy Between Middle Income Trap and High Income Status
This book scrutinizes the last 15 years of exceptional growth in the Turkish economy, and presents a model for sustainable ongoing growth that has particular implications for other key emerging economies. The growth of the Turkish economy
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Edited by Ahmet Faruk Aysan, Mehmet Babacan, Nurullah Gur, Hatice Karahan
Turkish Economy
Ahmet Faruk Aysan • Mehmet Babacan Nurullah Gur • Hatice Karahan Editors
Turkish Economy Between Middle Income Trap and High Income Status
Editors Ahmet Faruk Aysan Department of Economics School of Management and Administrative Sciences Istanbul Sehir University Istanbul, Turkey Nurullah Gur Department of Economics and Finance School of Business Istanbul Medipol University Istanbul, Turkey
Mehmet Babacan Department of Economics and Finance School of Business Istanbul Medipol University Istanbul, Turkey Hatice Karahan Department of Economics and Finance School of Business Istanbul Medipol University Istanbul, Turkey
ISBN 978-3-319-70379-4 ISBN 978-3-319-70380-0 (eBook) https://doi.org/10.1007/978-3-319-70380-0 Library of Congress Control Number: 2017962236 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: Clearview / Alamy Stock Photo Printed on acid-free paper This Palgrave Macmillan imprint is published by the registered company Springer International Publishing AG part of Springer Nature The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
To the memory of my sister Ahmet Faruk Aysan To my dearest loves in life Mehmet Babacan To my grandfathers (Abdülkadir and Murat) and grandmothers (Munise and Sabiha) for their strong and sincere support Nurullah Gur To the memory of my father Hatice Karahan
Contents
n the Path to High-Income Status or to Middle-Income O Trap: The Turkish Economy in Search of Its Future 1 Ahmet Faruk Aysan, Mehmet Babacan, Nurullah Gur, and Hatice Karahan
Part I Political Economy
13
he Role of the State in the Turkish Economy 15 T Nurullah Gur olitical Economy of Transformation of Capital Struc
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