Effects of globalization on Turkish economy

Globalizatıon is a social, cultural, economical, political and legislativeprocess that expresses the abolishmend of national borders and entegrationnations to the whole world. The term globalization started to be used widelyparticularly in 1980?s. However, the concept was established in 15. and 16.centuries during geoprapical expeditions. In that period, developed countriessuch as Great Britain discovered and colonized new lands. The trade they hadwith their colonies formed the foreign trade aspect of developments. Later,following the I. and II. Industrial Revolutions mass production gainedimportance and those industrilized countries started to seek new markets fortheir exceesive productions. At that moment colonies became the targetmarkets once more. In short, importing raw material and epporting theexcessive products ıncrased the importance of foreign trade. Therefore, it canbe concluded that the trade of goods and services incrased more constantlyand was more stable than world?s production. Together with the technologicalrevolutaion took place in 1980s, communication facilities improved and thusproduction of information took the priority in the world?s agenda. Improvedcommunication facilities and innovations (in information tecnology)acceterated the developments in financial markets. Consequently, the aspectof capital movement pained importance as well. As it is clear from itdevelopments economical globalization can be described as freedom ofcross-boundary movements of goods services and capital. We can concludethat globalization affects country?s economies in two ways, one throughforeign trade and the other through capital movements.Turkey, trying prevent the country from macroeconomic instability,joined the globalization process with ?jan 24, resolutions?, known as ?stabilityprogram? in 1980.The resolutions also formed the base of policies aiming atimprovement of foreign relations. Turkey stepped into globalization processby following an export targeted ındustrilization policy and taking advantage oftrade betweeen 1980 and 1988. And took another stepforward by freeing thecapital movement.In short, globalization is a multi - dimensioned concept, but economicalglobalization means, in particular, the freedom of foreign trade and capitalmovements. All countries including Turkey have been affected byglobalization trough foreign trade and capital movements.Key Words:Globalization, Information Revolution, Foreign Trade, Capital Movement,Turkish Economy