Turkey's full membership to the European Union: an analysis in view of business cycles

Abstract

Turkey's desire for membership, initially in the European Economic Cooperation (EEC), and later in the European Union (EU) started with the Ankara Agreement in 1963. As the movement continues today, the dates and financial terms for Turkey's full membership to the European Union have not yet been clearly determined. Although Turkey's globally competitive potential has flourished with the liberal ization policies since the 1980s, and its dynamism and competitive force have often been expressed since the enactment of the Customs Union Agreement in 1995, Turkey continues to face challenges as European unification progresses. Turkey's attitude toward full membership can generally be characterized as sine qua non. Although at times there have been signs of a change in this attitude, no major change has so far occurred. In spite of this, Turkey's sectoral adjustment efforts and performance do not conform to a full membership in the European Union.