Turkish Economic Liberalization and European Integration
Author(s)
Muftuler, Meltem
Abstract
The political and economic history of modern Turkey reflects that country’s attempt to catch up with, or adapt to, developments in Europe. This process has achieved further momentum since 1980 largely because of attempts to conform to the economic principles of the European Community (EC). The article examines economic reforms and policies in Turkey to clarify both the ramifications of ongoing European integration on the Turkish economy and the Turkish desire to become part of the EC as a full member. The 1994 economy faced a crisis reminiscent of the 1980’s, and reforms in the areas of taxation, privatization of state industry, and devaluation were designed to further Turkey’s desire to join the EC, to adjust to the 1995 customs union, and to prepare for the possibility of full membership.
