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Temporary Star or Emerging Tiger? Turkey's Recent Economic Performance in a Global Setting

Author

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  • Ziya Öniş

    () (Koc University)

  • İsmail Emre Bayram

Abstract

This article assesses the recent performance of the Turkish economy, questioning whether the currently observed unusual boom conditions will lead to a process of sustainable growth. The latest phase of Turkish neo-liberal transformation in the post-2001 era is placed in a broader historical and global context; at the same time, the performance of the economy in recent years is compared with that of other key emerging markets, based on selected macroeconomic indicators. Utilizing the East Asian experience as the principal benchmark for comparison, this paper examines whether Turkey is on its way to accomplishing tiger-like development performance. Given the current challenges to sustainable growth, we conclude that it is premature to suggest that the impressive performance of the recent years will lead to durable success and tiger-like performance. While the focus is on the Turkish experience, the paper also probes the very nature of tiger-like performance itself, highlighting the fact that in setting standards for exceptional economic performance we need to extend our horizons beyond high rates of economic growth sustained over time, to broader indicators of social, political and human development.

Suggested Citation

  • Ziya Öniş & İsmail Emre Bayram, 2008. "Temporary Star or Emerging Tiger? Turkey's Recent Economic Performance in a Global Setting," Koç University-TUSIAD Economic Research Forum Working Papers 0805, Koc University-TUSIAD Economic Research Forum.
  • Handle: RePEc:koc:wpaper:0805
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    File URL: http://eaf.ku.edu.tr/sites/eaf.ku.edu.tr/files/erf_wp_0805.pdf
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    More about this item

    Keywords

    Turkey; hyper-growth; East Asian tigers; emerging markets; human development; democratization.;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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