Turkey’s 2023 Economic Goal in Global Perspective

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The Republic of Turkey will celebrate its centenary in 2023. Its economic goal is to rank among the world’s 10 biggest economies. To move from its current 17th position, Turkey will have to grow on average 8% per annum. This paper assesses Turkey’s challenge and prospects from a global perspective, in light of present international conditions and trends, and possible lessons to be drawn from previous examples and experiences of fast growth, notably in East Asia. The paper raises questions regarding not just the benefits of high growth, but also its costs. Successful economic growth can be very costly in social terms. Hence Turkey’s aspirations for economic growth must be accompanied by visions and goals of social development.

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