ECONOMIC PUBLIC POLICY TOOLS AND THEIR IMPACT ON NATIONAL SECURITY

Authors : Sabahattin Tuğrul İMER, Kamil Ufuk BİLGİN

Pages : 61-69

View : 52 | Download : 17

Publication Date : 2019-09-23

Article Type : Conference Paper

Abstract :This paper aims to elaborate on various economic public policy tools and provide a perspective on their insight as well as on their prospective impacts on national security issues. Both the hard power and the soft power of a nation are closely related to the strength of its economy. It can be claimed that sustainable prosperity is the perquisite of economic security. While economic power depends on many factors, a well-balanced trade is a critical factor since it is a compensation between domestic production and outsourcing. Although the optimum equilibrium between these two is established as a rational outcome of the free market forces, the government holds various economic public policy tools, which have prominent impact on shaping the economic reality. On the other hand, as a natural outcome of the free market economy, certain products need to be outsourced. During this study, a literature survey has been conducted through printed and online resources to examine sample policy cases of some countries for the economic dimension of national security. These policies, which are the subject of trade, manufacturing, science and technology, were selected from the beginning of the 20’th century until the present day. Based on our findings, it can be argued that the benchmark for a successful public policy for national security is to contribute to a diverse and sustainable supply chain, which shall be a part of a complementary ecosystem that integrates both domestic manufacturing and strategic international outsourcing.
Keywords : National security, Economic security, Economic public policy, Economic public policy tools

ORIGINAL ARTICLE URL