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Seoul Journal of Economics - Vol. 32 , No. 1

[ Article ]
Seoul Journal of Economics - Vol. 32, No. 1, pp.63-82
Abbreviation: SJE
ISSN: 1225-0279 (Print)
Print publication date 28 Feb 2019
Received 03 Jul 2018 Revised 31 Dec 2018 Accepted 04 Jan 2019

Can Turkey Escape from the Middle-Income Trap? What Has Been Done? What Can Be Done? Lessons from South Korea
Mustafa Malkoç YAŞAR
Mustafa Malkoç YAŞAR, Ph.D. Candidate and Research Assistant at Department of Economics, Giresun University, Turkey, Tel: +905444833753 (malkocyasar@gmail.com)
Former Visiting Researcher at Seoul National University, Seoul, Korea

JEL Classification: O10, O21, O52, O53


Abstract

Turkey has been a middle-income country for nearly half a century. Unlike Turkey, South Korea has managed to rapidly grow and become a high-income country. The success of South Korea may be an inspiration for many developing countries that cannot move from the middle-income trap, such as Turkey. This qualitative study focuses on the dynamics of development in both countries. Population, education, foreign trade, and R&D policies since 1953 are examined. Lessons from South Korea show that upgrading exports from low and middle tech to high tech is crucial for economic development.


Keywords: Middle-Income trap, Turkey, Korea, Economic planning

Acknowledgments

The author acknowledges the idea of publishing a special issue and the valuable comments from Prof. Dr. Keun Lee who is the editor of this journal. Special thanks are due to Prof. Dr. Keun Lee for his hospitability, support, and encouragement during a year of stay at Seoul National University. Seminars organized by Prof. Lee, which were held in Department of Economics and Center for Economic Catch-up, have considerably influenced the author for creating new horizons. The author is also grateful for the organization, especially to Prof. Dr. Keun Lee and Dr. Won Jin Song, during and after the conference held on June 23–24, 2017 in Jeju Island.


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