Social Cohesion, Sustainable Development and Turkey's Accession to the European Union: Implications from a Global Model

Abstract

This article investigates the determination of 14 indicators of development in 109 countries with complete data. The empirical record, presented in this essay, speaks a clear language in favor of Islamic democracy and against those in the West that attempt to treat Islamic cultural heritage as a general development burden. It should be also clear that a reliance on the "Washington Consensus" alone will not "fix" the performance of countries beyond a better and more predictable development stability". The most consistent consequence of the "dependency" analysis of this essay is the realization that a reliance on foreign capital in the short term might bring about positive consequences for employment - especially female employment - but that the long-term negative consequences of dependence in the social sphere, but also for sustainable development, outweigh the immediate, positive effects. Our three-fold empirical understanding of the process of globalization - reliance on foreign savings, MNC penetration and unequal exchange, - goes beyond the average analysis of the workings of dependency structures and shows how different aspects of dependency negatively affect development performance. The integration of the countries of the periphery into larger currency blocs - quite contrary to what the "Washington Consensus" has to say about "competitive currencies" - will be one of the most important tasks for international development strategies for years to come.

Keywords: integration, political economy

JEL Classification: F15, F 5