U.S-Turkey Crisis and Its Impact on the Economy of the Black Sea Region

George Abuselidze and Lela Mamaladze

EconStor Open Access Articles and Book Chapters, 2019, vol. 135

Abstract: The process of political, economic and socio-cultural integration is underway of rapid pace in terms of globalization. Consequently, changes in one state will be reflected in other countries or region as a result of increased interdependence. The U.S. and Turkey have a historically strong relationship. They have a shared interest in economic collaboration, stability and security. The long history partnership has been tested in 2018 by a series of disagreements. Turkey and the U.S face their greatest diplomatic crisis. The lira lost almost a quarter of its value against the dollar. It should be noted Turkey’s increasing more independent regional role and influence. There are also signs that the crisis has the wider impact. However, the aim of this paper is to present the correlation between the U.S-Turkey crisis and the economy of the Black Sea Region countries. The paper consists of several thematic parts and a part dedicated to conclusions and recommendations. First one is introduction, second one is theoretical and provides to analyze specific issues related to US-Turkey relations: from alliance to crisis. The third part discusses the research methodology used during the research for this study. The article includes short and long term recommendations which are possible solutions for it.

Keywords: Crisis; sanctions; trade relations; Black Sea region (search for similar items in EconPapers)
JEL-codes: F01 F02 F36 F51 F63 H12 O51 O52 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:216641

DOI: 10.1051/e3sconf/201913503077

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