Can Turkey Escape the Middle-Income Trap? An Institutional Approach to Economic Development

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Köse T., ÇINAR S. K.

SOSYOEKONOMI, vol.26, no.38, pp.151-170, 2018 (ESCI) identifier

  • Publication Type: Article / Article
  • Volume: 26 Issue: 38
  • Publication Date: 2018
  • Doi Number: 10.17233/sosyoekonomi.2018.04.09
  • Journal Name: SOSYOEKONOMI
  • Journal Indexes: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Page Numbers: pp.151-170
  • Keywords: Political Institutions, Economic Institutions, Economic Development, Turkey, GROWTH, DEMOCRACY, FERTILITY, URBANIZATION, OPENNESS
  • TED University Affiliated: Yes

Abstract

Since the early 2010's, Turkey is said to be caught in "middle-income trap" characterized by economic stagnation. In this article, we offer an institutional analysis for Turkey, and many other developing nations alike, which aspire to attain higher levels of economic affluence. Using a multi-method approach which combines econometric and historical analyses, we conclude that it would be very hard to progress economically for middle-income countries such as Turkey without addressing their deficiencies in political and economic institutions. Nature of this research enables replicability not only for the case study under analysis, but also for many comparable cases throughout the world.