World Bank Country Director for Turkey Addresses FEASS Students
On Wednesday, December 19, the GE 441 FEASS Interdisciplinary Senior Project Course on the European Union hosted Dr. Martin Raiser, the World Bank's country director for Turkey. Dr. Raiser entitled his lecture "Golden Growth: Restoring the Luster of the European Economic Model."
The main focus of the presentation concerned the place of the European Union's economy in the global economy. The state of Turkey's economy in comparison to that of the EU was also discussed.
The lecture began with Dr. Raiser introducing the growth model of the European Union and what he categorized as its three main components: the "Convergence Machine"; "Brand Europe"; and "Lifestyle Superpower." He described these components in terms of their relevance to such areas as trade, finance, enterprise, innovation, labor and government.
Dr. Raiser noted that a rapid convergence in living standards has taken place in Europe. He stated that increased trade within Europe and an increase in financial transfers to emerging economies are the main motivators of the convergence machine. Also, discussing the quality of European enterprise and its contribution to productivity, job creation and exports in relation to emerging markets, Dr. Raiser referred to the notion of Europe as a global brand.
In the concluding part of the lecture, Dr. Raiser showed a number of charts that illuminated Europe's attitude towards social protection. Although spending in this area may have created some fiscal problems, he said, it also in his view guarantees Europe's position as a global superpower insofar as lifestyle is concerned.
Following his lecture, Dr. Raiser answered questions from those in attendance.