Convenient Fictions, Inconvenient Truths

A Comment on Öniş and Bayram

Bibliographic Data

ID6094444
AuthorsRavi Arvind Palat (Binghamton University, corresponding author)
Year2008
Volume39
Pages85-95
Publication date2008-01-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueNew Perspectives on Turkey (JOURNAL)
Journal identifiersISSN: 0896-6346 • E-ISSN: 1305-3299
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0896634600005070
OpenAlexW2219280159
LanguageEN
References cited26

Ziya Öniş and İsmail Emre Bayram seek to assess whether the rapid rates of growth experienced by the Turkish economy since it weathered a severe crisis in 2001 as measured by several indices—high levels of investment, especially foreign investment; sustained “export orientation;” increased outlays for education, research and development; sustained economic and political stability, and “favorable regional dynamics” as the European Union (EU) enlargement process—are merely a flash in the pan or sustainable over the long-run. To do this they cast the Turkish trajectory against the “miracle economies” of East Asia, as well as some other middle-and low-income economies in Latin America and elsewhere. Based on this analysis, they conclude that while there are some serious concerns—low domestic savings rate, large deficits in the current account, tapering off the EU accession process, dependence on foreign capital and export markets— long-term sustainable growth can be achieved in Turkey if these vulnerabilities are addressed

Accession · Economics · Economy · European union · Exchange rate · Foreign direct investment · International economics · Investment (military · Macroeconomics · Monetary economics · Political science · Politics · Sustainable Growth Rate · Turkish · Turkish economy · Global Financial Crisis and Policies · International Development and Aid · Natural Resources and Economic Development