IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/84049.html
   My bibliography  Save this paper

Turkey and the OIC: Greater Economic Cooperation, Opportunities and Challenges

Author

Listed:
  • Bağış, Bilal
  • Yurtseven, Çağlar

Abstract

This paper aims to analyze potential future areas of greater cooperation between Turkey and the other OIC member economies. It then provides some specific policy recommendations. In particular, the paper aims to contribute to economic policymaking efforts in terms of the potential future areas of increased cooperation. Broadly speaking, the Muslim world has immense savings-holding accumulated over the past few decades. Human and physical capital potentials are extremely high. Yet, there are also huge economic disparities and extremely diverse demographic dynamics. This paper is built on the idea that a crucial strategy to boost economic development and social prosperity is an intense economic, financial and strategic integraton of the OIC members. In particular, countries with common historical, cultural and even religious backgrounds have much to gain from such specific collaboration efforts. In that line, this paper deals with opportunities and challenges regarding the strategic position of Turkey. It focuses on sectors in which Turkey has a comparative advantage within the OIC league. It further analyzes the reasons Turkey and the other OIC economies must cooperate and build stronger economic ties. The paper suggests that such a modern economic cooperation or a strategic union that is strengthened by historical, social and cultural roots is both inevitable and to the benefit of all parties.

Suggested Citation

  • Bağış, Bilal & Yurtseven, Çağlar, 2017. "Turkey and the OIC: Greater Economic Cooperation, Opportunities and Challenges," MPRA Paper 84049, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:84049
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/84049/1/MPRA_paper_84049.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-499, June.
    2. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2005. "Institutions as a Fundamental Cause of Long-Run Growth," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 6, pages 385-472, Elsevier.
    3. Munawar Iqbal & David T. Llewellyn (ed.), 2002. "Islamic Banking and Finance," Books, Edward Elgar Publishing, number 2499.
    4. Bilal Bagis, 2017. "Central Banking in the New Era," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 5(4), pages 197-225.
    5. O’Rourke, Kevin H. & Williamson, Jeffrey G., 2002. "When did globalisation begin?," European Review of Economic History, Cambridge University Press, vol. 6(1), pages 23-50, April.
    6. Krugman, Paul, 1980. "Scale Economies, Product Differentiation, and the Pattern of Trade," American Economic Review, American Economic Association, vol. 70(5), pages 950-959, December.
    7. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
    8. Krugman, Paul R., 1979. "Increasing returns, monopolistic competition, and international trade," Journal of International Economics, Elsevier, vol. 9(4), pages 469-479, November.
    9. Krugman, Paul R, 1981. "Intraindustry Specialization and the Gains from Trade," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 959-973, October.
    10. Philippe Aghion, 2005. "Growth and Institutions," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 32(1), pages 3-18, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alessandro Borin & Riccardo Cristadoro, 2014. "Foreign direct investment and multinational firms," Questioni di Economia e Finanza (Occasional Papers) 243, Bank of Italy, Economic Research and International Relations Area.
    2. Quamrul Ashraf & Oded Galor, 2013. "The 'Out of Africa' Hypothesis, Human Genetic Diversity, and Comparative Economic Development," American Economic Review, American Economic Association, vol. 103(1), pages 1-46, February.
    3. Simonetta Longhi & Peter Nijkamp & Iulia Traistaru, 2003. "Determinants of Manufacturing Location in EU Accession Countries," ERSA conference papers ersa03p310, European Regional Science Association.
    4. NguyenHuu, Tams & Karaman Örsal, Deniz Dilan, 2020. "A new and benign hegemon on the horizon? The Chinese century and growth in the Global South," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 14, pages 1-35.
    5. Giuseppe Francesco Gori & Renato Paniccià, 2015. "A structural multisectoral model with new economic geography linkages for Tuscany," Papers in Regional Science, Wiley Blackwell, vol. 94, pages 175-196, November.
    6. J. Peter Neary, 2000. "Monopolistic Competition and International Trade Theory," Working Papers 200025, School of Economics, University College Dublin.
    7. Paul Krugman, 2009. "The Increasing Returns Revolution in Trade and Geography," American Economic Review, American Economic Association, vol. 99(3), pages 561-571, June.
    8. Shachmurove Yochanan & Zilberfarb Ben-Zion, 2020. "Macroeconomic performance of the Israeli economy in the 21st millennium," Economics and Business Review, Sciendo, vol. 6(2), pages 45-65, June.
    9. Nunn, Nathan & Trefler, Daniel, 2014. "Domestic Institutions as a Source of Comparative Advantage," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 263-315, Elsevier.
    10. Aguirre, Alvaro, 2019. "Rebellions, Technical Change, and the Early Development of Political Institutions in Latin America," Journal of Comparative Economics, Elsevier, vol. 47(1), pages 65-89.
    11. Roberto Camagni & Roberta Capello, 2011. "Spatial Effects of Economic Integration: A Conceptualisation from Regional Growth and Location Theories," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume II, chapter 7, Edward Elgar Publishing.
    12. Traistaru, Iulia & Nijkamp, Peter & Longhi, Simonetta, 2002. "Regional specialization and concentration of industrial activity in accession countries," ZEI Working Papers B 16-2002, University of Bonn, ZEI - Center for European Integration Studies.
    13. Karayalcin, Cem & Ulubasoglu, Mehmet Ali, 2009. "Romes without empires: urban concentration, political competition, and economic growth," Working Papers eco_2009_18, Deakin University, Department of Economics.
    14. Gordon H. Hanson & Chong Xiang, 2004. "The Home-Market Effect and Bilateral Trade Patterns," American Economic Review, American Economic Association, vol. 94(4), pages 1108-1129, September.
    15. Gmeiner, Robert & Gmeiner, Michael, 2021. "Encouraging domestic innovation by protecting foreign intellectual property," International Review of Law and Economics, Elsevier, vol. 67(C).
    16. Toraubally, Waseem A., 2023. "Comparative advantage with many goods: New treatment and results," European Journal of Operational Research, Elsevier, vol. 311(3), pages 1188-1201.
    17. José M. Gaspar, 2020. "Paul Krugman: contributions to Geography and Trade," Letters in Spatial and Resource Sciences, Springer, vol. 13(1), pages 99-115, April.
    18. Etro, Federico, 2017. "Research in economics and monopolistic competition," Research in Economics, Elsevier, vol. 71(4), pages 645-649.
    19. Nayara Aguiar & Indraneel Chakraborty & Vijay Gupta, 2020. "Renewable Power Trades and Network Congestion Externalities," Papers 2006.00916, arXiv.org, revised Jan 2021.
    20. Sara Johansson & Therese Norman, 2011. "Determinants of regional comparative advantages in food industries," ERSA conference papers ersa10p809, European Regional Science Association.

    More about this item

    Keywords

    OIC; Turkey; International Trade; Economic Cooperation; Comparative Advantage;
    All these keywords.

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • F6 - International Economics - - Economic Impacts of Globalization
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:84049. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.