Opportunities and Challenges for Development

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Author(s): Izzettin Önder (Istanbul University, Turkey)and Aynur Uckac (Adnan Menderes University, Turkey)
Copyright: 2016
Pages: 16
Source title: Handbook of Research on Comparative Economic Development Perspectives on Europe and the MENA Region
Source Author(s)/Editor(s): M. Mustafa Erdoğdu (Marmara University, Turkey)and Bryan Christiansen (PryMarke, LLC, USA)
DOI: 10.4018/978-1-4666-9548-1.ch003

Keywords: Business & Management / Business Science Reference / Economics & Economic Theory / Economics and Economic Theory

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Abstract

This chapter aims to provide an analysis of compelling conditions which are faced by developing economies in the current phase of the globalization. Globalization provides opportunities for developing economies yet it also causes difficulties at the same time. Effects of globalization on developing economies depend largely on deliberate policies that must be followed by the governments and support of the people alongside public authorities in designing such public policies. For market operations cannot secure optimal results for developing economies, the fate of a developing economy cannot be fully left to private markets' mercy so that public intervention often becomes a necessity.

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