Economic aspects of the accession of Turkey to the EU

The conditional offer to negotiate with Turkey, a large Muslim nation, on EU membership is stirring political debate in Europe, a debate that can be very useful or extraordinarily dangerous depending on how it is managed. The purpose of this note is to contribute to this debate by highlighting the economic aspects of Turkish accession. We start with the analysis of the impact of EU accession on the Turkish economy. We then study the impact of Turkish accession on the economy of the EU, and end with some concluding remarks.