Turkey: how an Economic Boom can be a Tinderbox

MadMilton

According to some indicators, Turkish economy seems healthier than the one of other more advanced countries. During the last decade Turkey grew at a sustained pace with an average 5% GDP increase per year. How can we explain, then, the recent political upheaval started in Taksim square from an economic perspective? Economist Sebnem Kalemli-Ozcan argues that what we can learn from the recent research in growth theory  is that institutional design is key for long-sustained growth. Indeed, considering other indicators on Turkey, such as those for inequality, property and civil rights, we end up reading a different story.

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