Paper Topic:

Globalization and Turkey

Globalization and Turkey

Globalization is the liberalization process wherein there is a movement of goods and services between countries thereby creating an open economy . Globalization has also encouraged exchange of technologies information , ideas and cultures across nations

Several developing countries have attracted foreign direct investments and have adopted liberalization of trade . One of these countries is Turkey . In 1980 Turkey adopted a liberalization policy and invited foreign direct investments to the country . According to a study (Gazi E . 2006 ) Turkish has been successful in implementing trade liberalization as exports of

goods and services have continuously increased from 1980 up to present . The study cited the ratio of exports of goods and services has increased from 16 percent in 1990 to 33 percent in 1988 and has reached the 30 percent level at present However , although Turkey is quite successful in exports , the country had experienced economic set backs and difficulties due to economic and political factors that eventually slowed down its growth process

In to attain economic stability , according to report of the Turkish Embassy in London , the Turkish government in 2001 adopted significant structural reforms . Independent regulatory and supervisory authorities were set up for banking , telecommunications , and energy sectors and functions of the Central bank were enhanced policies were set to check inflation Stand-by agreements with IMF and World Bank were implemented and after plugging all the loopholes of the laws negotiations for Turkey membership in EU started on October 5 , 2005

The economic performance of Turkey...

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