Globalization, Growth and Economic Integrations: An assesment on Turkey

One of the major effects of globalization, reflection of which on politics, culture and economy is widely discussed, is its putting dependency element forward. Repercussion of this on economy is emergence of the new economy concept that emphasizes on innovation and heads to production of services instead of goods. In this process developing countries which are disadvantageous in terms of accumulation of capital and technology try to provide a competitive advantage through economic integrations. Reflection of the globalization on economic integrations is that the volume of world trade and flows of foreign capital slid from the integrations established between the developed countries to the developing ones after 1980 when the liberalization movements accelerated.In the study the effects of globalization on national economies and economic integration have been discussed in terms of economic growth. Trade, foreign investment and innovation trends of the world’s leading economic integrations and the ones Turkey has membership relations have been assessed and possible effects of them on Turkish economy has been evaluated. Results of the study show that Black Sea Economic Cooperation Organization may offer greater opportunities to Turkey in terms of trade and foreign investment, European Union on the other hand may provide more returns in context of endogenous growth