Towards a synthesis of islam and the market economy? the justice and development party's economic reforms in Turkey

Turkey has some unique characteristics, one of which is that it is the only Muslim country seeking to join the European Union. Internally, it has been going through a new and challenging experience in recent years: implementing free-market economic policies under a 'Conservative Democrat'government, the leadership of which comes from moderate Islamism. Many observers think that Turkish experience shows how Islam and the market economy are compatible. This article critically evaluates these reformist economic policies implemented since late 2002 and highlights the major factors behind Turkey's success story. © 2009 The Author. Journal compilation © 2009 Institute of Economic Affairs