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Can Turkey Escape from the Middle- Income Trap? What Has Been Done? What Can Be Done? Lessons from South Korea
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- Authors
- Issue Date
- 2019-01
- Citation
- Seoul Journal of Economics, Vol.32 No.1, pp. 63-82
- Keywords
- Middle-Income trap ; Turkey ; Korea ; Economic planning
- 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.
- ISSN
- 1225-0279
- Language
- English
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