The Possible Effects of Transatlantic Trade and Investment Partnership (TTIP) on Turkish Economy
Due to the World Trade Organization’s (WTO) deadlocked multilateral trade negotiations, many countries have started to establish Free Trade Agreements (FTA). In this context, the European Union (EU) and the United States (US) have decided to establish bilateral Transatlantic Trade and Investment Partnership (TTIP). This note focuses on the impacts of this partnership on Turkish economy. To the best of our knowledge, we are the first to analytically analyze the economic impacts of the TTIP on Turkey by differentiating according to Turkey’s inclusion in and exclusion from the TTIP. By using Global Trade Analysis Project (GTAP) database and a general equilibrium model, the effects of various scenarios on GDP is studied within the framework of four-regional-consolidation, the EU, the U.S., Turkey and rest of the world. Obtained results show that Turkey could be in a gain of 35 billion USD if Turkey is included in TTIP compared to if she is excluded from the TTIP. Moreover, Turkey’s inclusion in TTIP is not only in favor of Turkey but also in favor of the EU and the USA in terms of higher GDP growth rates.
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- Joseph Francois & Miriam Manchin & Hanna Norberg & Olga Pindyuk & Patrick Tomberger, 2013. "Reducing Transatlantic Barriers to Trade and Investment: An Economic Assessment," IIDE Discussion Papers 20130401, Institue for International and Development Economics.
- Gemma Estrada & Donghyun Park & Innwon Park & Soonchan Park, 2012. "China's Free Trade Agreements with ASEAN, Japan and Korea: A Comparative Analysis," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 20(4), pages 108-126, 07.
- Joseph Francois & Olga Pindyuk, 2013. "Modeling the Effects of Free Trade Agreements between the EU and Canada, USA and Moldova/Georgia/Armenia on the Austrian Economy: Model Simulations for Trade Policy Analysis," FIW Research Reports series IV-003, FIW.
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