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Middle Income Trap and Turkey: Ways of Getting Out

Author

Listed:
  • Erhan UÄŸurlukol

    (Dokuz Eylül University)

  • Nevser Mine Tükenmez

    (Dokuz Eylül University)

Abstract

The main problem of developing countries in today's economy is that they cannot increase their per capita income above a certain level. This situation is expressed as middle-income trap. Being stuck at a certain level of gross domestic product per capita for long years, raised the question of whether Turkey is caught in the middle-income trap. Aim: To assess the situation in Turkey in terms of middle-income trap concept and to provide recommendations. Method: The concept of middle-income trap will be defined, relevant literature will be presented, exit strategies brought in the literature will be presented in conjunction with Turkey's current data. Findings: Whether or not in the middle income trap, there are important steps to be taken by Turkey in order to become a developed country economy: These can be listed as increasing the savings rate and investment in R & D and innovation, improving the quality of education, ensuring fairness in income distribution and in particular raising the level of technology used in the manufacturing industry

Suggested Citation

  • Erhan UÄŸurlukol & Nevser Mine Tükenmez, 2019. "Middle Income Trap and Turkey: Ways of Getting Out," BRAND. Broad Research in Accounting, Negotiation, and Distribution, EduSoft Publishing, vol. 10(1), pages 37-51.
    • Handle: RePEc:bra:journl:v:10:y:2019:i:1:p:37-51
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    File URL: http://www.edusoft.ro/brand/RePEc/bra/journl/brand_10.1_erhan.pdf
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