1. Introduction
Begin by outlining the economic challenges facing countries like Turkey, including high unemployment, inflation, and reliance on foreign aid.
Introduce the purpose of your paper: to explore development strategies that can help Turkey achieve higher prosperity and income levels per person.
Mention the debate around the effectiveness of foreign aid versus free-market policies in fostering economic growth.
2. Literature Review
W. Arthur Lewis’s “The Theory of Economic Growth”
Summarize Lewis’s main arguments and how his insights into economic growth could apply to Turkey.
Discuss the relevance of industrialization and how Lewis’s model might offer solutions for Turkey’s economic challenges.
Hernando de Soto’s “The Mystery of Capital”
Outline de Soto’s thesis on why capitalism succeeds in the West but fails elsewhere.
Analyze how de Soto’s ideas on property rights and capital could be applied to improve Turkey’s economic situation.
Michael P. Todaro’s “Economic Development”
Provide an overview of Todaro’s perspectives on economic development challenges and strategies.
Examine Todaro’s approach to development and how it could inform policies to boost Turkey’s economy.
3. Analysis
Dive into the major economic issues Turkey faces, such as the economic crisis, high inflation, and unemployment. Use data and examples to illustrate these points.
Discuss the role of foreign aid in Turkey’s economy and its limitations. Analyze how dependence on aid might affect sustainable development.
Evaluate the arguments for a free-market approach as opposed to state-led development strategies. Consider the balance between large infrastructure projects and the need for grassroots economic activities.
Reflect on the impact of Turkey’s exchange rate crisis and currency valuation on its per capita income and economic stability.
4. Development Strategies for Turkey
Drawing from Lewis, de Soto, and Todaro, propose development strategies tailored to Turkey’s context. These could range from enhancing property rights to encouraging foreign investment and fostering a conducive environment for small and medium enterprises (SMEs).
Discuss how Turkey can generate investment and capital without overly relying on foreign aid. Explore alternatives like subsidized loans, incentives for domestic savings, and attracting foreign direct investment (FDI).
Address how Turkey can use its comparative advantage in specific industries to foster economic growth and job creation.
Analyze the potential benefits and drawbacks of reducing reliance on large-scale infrastructure projects in favor of more diversified economic development strategies.
5. Case Study: Tayyip Erdoğan’s Economic Policies
Examine President Tayyip Erdoğan’s controversial economic policies, such as his approach to inflation and interest rates. Use this as a case study to explore broader economic principles and their outcomes.
6. Conclusion and Recommendations
Summarize your findings and propose actionable recommendations for Turkey to overcome its economic challenges.
Reflect on the insights gained from the literature and how they have informed your analysis and recommendations.
Conclude by emphasizing the importance of informed, holistic approaches to economic development that consider both local contexts and global economic principles.
7. References
Ensure you cite all sources used in your research, including the books by Lewis, de Soto, and Todaro, along with any additional readings and data sources you consult.
8. Formatting and Citation Style
Chicago Style: Your paper must adhere to the Chicago Manual of Style guidelines. This includes formatting for the text, citations, and bibliography. Make sure to use footnotes for citations throughout your paper as specified by Chicago style.
Page Length: The minimum length for the paper is 17 pages. This does not include the bibliography and any appendices. Ensure that your analysis is thorough and all sections of the paper are adequately covered within this page limit.
Font and Spacing: Use a standard, readable font such as Times New Roman, size 12, with double spacing throughout the main text. Footnotes may be single-spaced.
9. Sources and Research
Minimum Sources: A minimum of 15 sources is required for this paper. These should be a mix of academic books, peer-reviewed journal articles, reputable news articles, and official reports. The three books mentioned (by W. Arthur Lewis, Hernando de Soto, and Michael P. Todaro) should be included in your sources.
Diversity of Sources: Aim for a wide range of sources to provide a comprehensive view of the economic challenges and theories relevant to Turkey. This includes theoretical works, empirical studies, case studies, and analyses of current economic policies.
Source Evaluation: Critically evaluate each source for its credibility, relevance, and bias. This is especially important when dealing with controversial policies and differing economic theories.
10. Additional Considerations
Argumentation: Present a clear, coherent argument supported by evidence from your sources. Whether agreeing or disagreeing with the theories and strategies discussed, provide a rationale based on economic principles and case studies.
Critical Analysis: Beyond summarizing the literature, critically analyze how the concepts apply to Turkey’s context. Identify any gaps in the literature or areas where theories may not fully explain Turkey’s economic challenges.
Personal Insight: Conclude with your own informed judgment about the most viable economic development strategies for Turkey. This should be based on the comprehensive analysis conducted and the synthesis of the various perspectives reviewed.
