DOI link for Introduction
This chapter contributes to the literature by developing an overlapping generations general equilibrium model with endogenous technological progress, endogenous human capital accumulation, and endogenous fertility choice. It describes the sources of intensive economic growth in Turkey from the 1950s to the present. The analysis also identifies some pitfalls of the Turkish economy in achieving a long-run growth rate higher than its stable 3% rate. The chapter focuses on counterfactuals for a quantitative exploration of growth prospects of Turkey for the rest of the 21st century. It aims to find out the spatial and non-spatial determinants of regional income disparities. Energy is vital for economic growth and key for sustainable development. Hence, it becomes a challenge, particularly for developing countries like Turkey, to implement economic/environmental policies consistent with green-growth targets.