The effect of new Turkish foreign policy on international trade
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Turkish foreign policy has changed substantially within the last decade. Even though its relationship with the West still has significance, relations with neighboring countries and other countries in Africa, the Middle East, and Asia have improved. This new foreign policy incorporates Turkey's political and economic aspirations. Its aim is to utilize the country's economic strength in order to reach political goals while simultaneously using political tools to obtain economic benefits. This study analyzes the effects of the recent change in foreign policy on Turkey's international trade. Specifically, we investigate the influence of Turkish Prime Minister Erdoǧan's foreign visits on international trade by using a standard trade gravity model. Statistical analyses imply that Erdoǧan's visits help increase Turkish international trade.