Evaluation of the Economic Development in a Selected Country/Region

Ecem Sultan Cirak

Master's thesis

Abstract:

In this thesis, Turkey's economic history, the economic programs it has implemented and its development status since 1923, the year of its establishment, are included, and then the situation between 2001 and 2020 is examined over the economic development factors. As economic development indicators, GDP and GDP growth rate, Foreign Direct Investments, foreign trade indices, R&D investments, number of patents, Global Innovation index, Human Development Index, happiness index of the citizens of the country, poverty rates and income justice are included in the evaluation. As a result of the study, it has been seen that although Turkey has made progress in many of the economic development indicators since its establishment, it has had difficulties in reaching its goals and lags behind developed countries. The reason for this is shown in the study as the frequent economic crisis due to the inability to create a foreign trade balance, the fact that growth does not cause an increase in the amount of savings despite the growth, on the contrary, it further disrupts the foreign trade balance and income inequality. As a result, it is sugested that in order for Turkey to achieve a regular development trend, it must first establish a foreign trade balance. For this, it is necessary to make plans to increase the added value in export products, and to increase incentives for R&D and technological developments. In order for income distribution to be more equitable, it is necessary to create job opportunities for poor people, and to focus on regional incentive practices in order to spread industrial development throughout the country.

Keywords

Growth, Industry, Economic Evaluation, Economic Development, Turkey

Language used: English

Date on which the thesis was submitted / produced: 31. 3. 2022

Thesis defence

• Supervisor: doc. Ing. Karel Tomšík, Ph.D.

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme / field:
Economics and Management / Economics and Management