The Political Economy of Turkish-Russian Relations: Dynamics of Asymmetric Interdependence

Authors : Seçkin KÖSTEM

Pages : 10-32

View : 17 | Download : 8

Publication Date : 2018-10-07

Article Type : Research Paper

Abstract :In examining Turkish-Russian economic  relations, this paper puts forward three  arguments. First, the relationship  is characterized by an asymmetric  interdependence that favors Russia over  Turkey. The source of the asymmetry  lies in the divergent domestic economic  structures of the two countries. Moreover,  the developments in the aftermath of the  jet crisis of 2015 demonstrated Turkey’s  vulnerability to Russian economic  sanctions. To support this argument, I  use trade and foreign direct investment  data to analyze the evolution of Turkish- Russian economic ties over the past decade.  Second,  international developments  such as the global financial crisis and  the West’s sanctions against Russia have  significantly diminished the capacity of  Turkish-Russian economic cooperation.  Third, Turkish-Russian economic  interdependence cannot soon transform into complex interdependence that  characterizes bilateral ties in the advanced c apitalist world. Despite the growing role  of business groups and humanitarian ties,  politics will continue to shape the prospects  of Turkish-Russian economic cooperation  in the foreseeable future. 
Keywords : Turkish Russian Relations, Economic Cooperation, Asymmetric Interdependence, Economic Interdependence, Turkey, Russia