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Bulletin of Central and Eastern Europe: Turkey the most European among the emerging markets, Adam Balcer

Turkey is often evoked as a classic example of the midsize emerging market, a phenomenon which most probably will leave an important imprint on the character of global economy in the 21st century. Indeed, Turkey as other emerging markets possesses strong points but also faces serious challenges. Its rise in coming decades can be even more spectacular than expected. On the other hand, Turkey can fall into the middle income trap and remain for ages an emerging market. Currently, Turkey finds itself between economies driven by low costs of labor and the most developed ones competing in the global arena through innovativeness.