1,720,969 research outputs found
Integration and manufacturing industry
No full textThis chapter studies the effects of European Union(EU) integration on the manufacturing sector.1 The first section describes the main developments in Turkey’s trade regime and trade performance, and the second examines the structure of protectionism. Market access issues emphasizing contingent protectionism and the issues related to technical barriers to trade are the subjects of the third and fourth sections. The fifth section analyzes conditions of competition, and the final section offers conclusions
Monetary Policy in the Euro Area: Lessons from 5 Years of ECB and Implications for Turkey
No full textDomestic implications of the trade agreements EU has concluded with Mediterranean Countries
No full text
Effects of Alternative Policy Regimes on Foreign-Payments Imbalances
Full text linkUsing a country-specific multisectoral general-equilibrium
trade model the paper examines the consequences of outward- and
inward-oriented development strategies. The analysis supports the view
that the unwillingness of some of the developing countries' governments
to pursue outward-oriented policies can be explained in terms of low
trade-elasticity values supposedly perceived by the policy makers,
and/or by the political power exercised by capitalists, whet seem to
lose most under outward-oriented policies
The EU-Turkey Customs Union: A model for Future Euro-Med Integration. MEDPRO Technical Report No. 9/March 2012
Full text linkThis paper studying the 1995 EU-Turkey Customs Union (CU) reveals that the CU has been a major
instrument of integration of the Turkish economy into the EU and global markets, offering powerful tools to
reform the Turkish economy. Turkish producers of industrial goods are protected by tariffs from external
competition to exactly the same extent as EU producers, and they face competition from duty-free imports of
industrial goods from world-class pan-European firms. In return, Turkish industrial producers have duty-free
market access to the European Economic Area, which was recently extended to certain Mediterranean
countries. Trade liberalisation achieved through the CU has thus successfully moved the Turkish economy
from a government-controlled regime to a market-based one, and Turkish producers of industrial goods have
performed remarkably well. The paper further shows that market access conditions for Turkish producers are
determined, in addition to tariffs, by standards, conformity assessment procedures, competition policy,
industrial property rights and contingent protectionism measures. The CU also offered Turkey the
opportunity to establish new institutions, and modernise and upgrade rules and disciplines required for the
elimination of technical barriers to trade, and for the implementation of the EU’s competition, industrial
property rights, and contingent protectionism policies
Turkey: Economic Reform and Accession to the European Union
Full text linkA copublication of the World Bank and the Centre for Economic Policy ResearchTurkey first applied for associate membership in the European Union (EU)—then the European Economic Community (EEC)—in 1959. The application resulted in an association agreement in 1963, whereby Turkey and the EU would, in principle, gradually create a customs union by 1995 at the latest. The customs union was seen as a step toward full EU membership at an unspecified future date. The EU unilaterally granted Turkey preferential tariffs and financial assistance, but the process of staged, mutual reductions in tariffs and nontariff barriers was delayed because of the economic and political conditions in Turkey. After pursuing inward-oriented development strategies throughout the 1960s and 1970s, Turkey switched over to a more outward-oriented policy stance in 1980. The opening up of the economy was pursued in part with the aim of integrating the country into the EU. Turkey applied for full membership in the EU in 1987. The response in 1990 was that accession negotiations could not be undertaken at the time because the EU was engaged in major internal changes, and that matters were further complicated by developments in Eastern Europe and the Soviet Union. However, the EU was prepared to extend and deepen economic relations without explicitly rejecting the possibility of full membership at a future date. Thus the plans for a customs union were revived
Reforming External Debt Governance in Turkey to Reach External Debt Sustainability
No full textThe paper argues that the attainment and maintenance of external debt sustainability is challenging, and that it is not a choice. A country whose government fails to respect external debt sustainability would eventually default on its external debt. But in the case of default the penalty is the inability to borrow in international markets, and hence the cost of defaulting could be extremely high. The paper emphasizes the importance of having a functioning external debt governance system that will reduce the probability of explosive debt trajectories over time requiring solutions to the following three issues. First, in policy circles minds should be clear about the importance of achieving sustainability of external debt. Second, policy makers have to agree on the way to attain external debt sustainability. Based on empirical analysis, the paper recommends implementing legal reforms, reducing inflation, and devaluing when necessary the real exchange rate. Finally, the country needs to find a way to translate the concept of external debt sustainability into policy technicality. In particular, such a translation requires the development of an institution that when established will enable the country to avoid facing external debt problems over time. The paper proposes the creation of an independent public advisory body, the External Debt Council, equipped with adequate resources to ensure sustainable debt management, and building and sustaining social consensus in the society on the achievement of external debt sustainability that will bind not only the officials in the present government but also the officials in future governments
Who benefits from the adjustment process in developing countries? A test on India, Kenya, and Turkey
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