Publication

This paper explains how Turkey has a lower per capita income than that of any of the EU-25 countries. The author argues that with the right institutions and policies, Turkey could become a true tiger economy in the 21st century. At the same time, the author cautions that with institutions and policies like those that were implemented during the second half of the 20th century, Turkey could become a mangy cat. The paper analyzes some optimistic official reports on Turkey, issued by the World Bank’s recent Country Economic Memorandum.