Turkey is one of the most dynamic economies in the world that is
growing very fast. It is one of the “Next 11” (N-11) countries which are known
as “Growth Markets”. Turkey has potential to grow and become an effective
contributor to the world economic growth.
Being a growth market means that the country has a large population with characteristics of a strong manufacturing and service industries. In addition, it also means that the country is open to the foreign investment and trade with other countries. Turkey’s population which is above 75 billion people provides the country with a powerful workforce and a populous internal consumer market. According to Jim O’Neill, Anna Stupnytska and James Wrisdale from Goldman Sachs Asset Management, for a country to be considered a Growth Market, “It needs to be an economy with adequate market size and depth that allows investors and business sufficient scale and liquidity to not only invest and develop, but also to perhaps exit as and when the decision is appropriate” (O'Neill, Stupnytska, and Wrisdale). Turkey has enhanced these features as its economy is expanding and growing. While Turkey’s geographic location is the major reason for its economic success, fiscal and financial measures that have been taken by the government after the 2001 crisis are other important factors that resulted in today’s remarkable achievements.
Being a growth market means that the country has a large population with characteristics of a strong manufacturing and service industries. In addition, it also means that the country is open to the foreign investment and trade with other countries. Turkey’s population which is above 75 billion people provides the country with a powerful workforce and a populous internal consumer market. According to Jim O’Neill, Anna Stupnytska and James Wrisdale from Goldman Sachs Asset Management, for a country to be considered a Growth Market, “It needs to be an economy with adequate market size and depth that allows investors and business sufficient scale and liquidity to not only invest and develop, but also to perhaps exit as and when the decision is appropriate” (O'Neill, Stupnytska, and Wrisdale). Turkey has enhanced these features as its economy is expanding and growing. While Turkey’s geographic location is the major reason for its economic success, fiscal and financial measures that have been taken by the government after the 2001 crisis are other important factors that resulted in today’s remarkable achievements.
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