Fading Attraction: Turkey's Shifting Relationship with the European Union

Posted: 25 Jul 2013

See all articles by Hadi Salehi Esfahani

Hadi Salehi Esfahani

University of Illinois at Urbana-Champaign

Esra Ceviker Gurakar

Okan University

Date Written: July 23, 2013

Abstract

In this paper, we examine Turkey’s changing economic relations with the European Union (EU) and the rest of the world during the past few decades. We argue that a combination of the EU’s reluctance to accept Turkey as a member, internal economic and political developments, and the rise of economic and political opportunities elsewhere have shifted the country to diversify its economic relations around the world and reduced its reliance on the ties with Europe. This shift, which had started long before the 2008 global financial crisis and accelerated in its aftermath, seems to have helped Turkey weather relatively well the recent economic storms in Europe.

Keywords: Turkey, European Union, Trade, Customs Union, Political Economy

JEL Classification: F5, F15, O16

Suggested Citation

Esfahani, Hadi Salehi and Ceviker Gurakar, Esra, Fading Attraction: Turkey's Shifting Relationship with the European Union (July 23, 2013). Quarterly Review of Economics and Finance, 2013, Available at SSRN: https://ssrn.com/abstract=2297475

Hadi Salehi Esfahani

University of Illinois at Urbana-Champaign ( email )

Department of Economics
1206 South Sixth Street, 210DKH
Champaign, IL 61820
United States
217-333-2681 (Phone)
217-333-1398 (Fax)

Esra Ceviker Gurakar (Contact Author)

Okan University ( email )

Faculty of Economics and Business Administration
Department of International Trade
Istanbul
Turkey
+90 216 677 16 30 #1121 (Phone)

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