Download or read book The Role of Monetary Policy in Turkey During the Global Financial Crisis written by Mr.Harun Alp and published by International Monetary Fund. This book was released on 2011-06-01 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Turkey is an interesting case study because it was one of the hardest hit emerging economies by the global financial crisis, with a year-over-year contraction of 15 percent during the first quarter of 2009. At the same time, anticipating the fallout from the crisis, the Central Bank of the Republic of Turkey (CBRT) decreased policy rates by an astounding 1025 basis points over the November 2008 to November 2009 period. In this context, this paper addresses the following broad question: If an inflation targeting framework underpinned by a flexible exchange rate regime was not adopted, how much deeper would the recent recession have been? Counterfactual experiments based on an estimated structural model provide quantitative evidence which suggests that the recession would have been substantially more severe. In other words, the interest rate cuts implemented by the CBRT and exchange rate flexibility both helped substantially soften the impact of the global financial crisis.
Download or read book Monetary Policy in Turkey After the Global Crisis written by A. Hakan Kara and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effect of the Gobal Crisis on Turkish Economy written by İsmail Ercan Börü and published by Livre de Lyon. This book was released on 2021-12-15 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Effect of the Gobal Crisis on Turkish Economy
Download or read book Turkey and the Global Economy written by Ziya Onis and published by Routledge. This book was released on 2009-10-01 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the financial crisis of 2000 and 2001 the Turkish economy has undergone considerable change and some improvement. This book gives a detailed examination of the neo-liberal restructuring that has taken place and the challenges the economy still faces, providing a comparative perspective on recent reforms and the position of Turkey in the global economy. This book examines all major aspects of the post-crisis economic performance of the Turkish economy. Major sectors of the economy such as agriculture and manufacturing along with key issues such as privatization, export growth, developments in the labour market, poverty and social exclusion are analysed in detail. The authors consider Turkish performance from a comparative perspective, drawing attention to its similarities with the experience of other emerging markets. Providing an insight into the major difficulties of post-crisis adjustment, sustainability of the gains achieved so far and the challenges that lie ahead, this book will be of interest to academics and scholars in the fields of International Political Economy and Globalization Studies, Middle East Studies and Development Studies, as well as having significance for practitioners in emerging markets.
Download or read book The Global Crisis and the Turkish Economy written by Şükrü Binay and published by . This book was released on 1998 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Turkey written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2012-12-21 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper on Turkey discusses the new monetary framework adopted by the Central Bank of Republic of Turkey (CBRT). Instead of relying on one interest rate as inflation-targeting, the CBRT resorted to raising it as inflation pressures intensify and lowering it as they abate. The first version of the framework does not seem to have achieved significant reduction in external and internal imbalances, but the second version of the framework has witnessed an unwinding of imbalances.
Download or read book Monetary Policy in Turkey After Central Bank Independence written by Refet S. Gürkaynak and published by . This book was released on 2015 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present an accessible narrative of the Turkish economy since its great 2001 crisis. We broadly survey economic developments and pay particular attention to monetary policy. The data suggests that the Central Bank of Turkey was a strong inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal anchor is visible in the break we estimate in Taylor-type rules as well as in asset prices. We also argue that recent discrete jumps in Turkish asset prices, especially the exchange value of the lira, are due more to domestic factors. In the post-2009 period the Central Bank was able to stabilize expectations and asset prices when it chose to do so, but this was the exception rather than the rule.
Download or read book Turkey written by International Monetary Fund and published by International Monetary Fund. This book was released on 1995-06-08 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews economic developments in Turkey during 1992–95. Economic activity expanded sharply in 1993, sustained by buoyant domestic demand that was underpinned by expansionary fiscal and monetary policies, but accompanied by a large deterioration in the current account position. The unsustainability of this policy stance resulted in an exchange and financial market crisis in the first months of 1994. In April 1994, the authorities announced a comprehensive stabilization program that included substantial fiscal retrenchment, monetary tightening, and a structural reform agenda intended to strengthen the adjustment effort over the medium term.
Download or read book Turkey in the Global Economy written by Bülent Gökay and published by McGill-Queen's Press - MQUP. This book was released on 2021-02-04 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the late 1990s Turkey has emerged as a significant economic power. Never colonized and straddling the continents of Europe and Asia, it plays a strategically important role in an increasingly unstable region. Bülent Gökay examines Turkey's remarkable political and economic transformation within the context of broader regional and global changes. By situating the story of Turkey's economic growth within an analysis of the structural changes and shifts in the world economy since the end of the Cold War, the book provides new insights into the functioning of Turkey's political economy and the successes and failures of its ruling party's economic management.
Download or read book World Economic Outlook October 2009 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2009-10-15 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the World Economic Outlook explores the prospects for growth in the aftermath of the financial crisis. The fragile nature of the recovery will present many challenges. These include the need for continued strong monetary, fiscal, and financial policies, ongoing efforts to restore the financial sector to health, improvements in private demand, and preparation of exit strategies on the fiscal, monetary, and financial fronts. The first of two analytical chapters included in this edition, "Monetary Policy and Asset Prices: What Do We Learn from Booms and Busts?" explores whether there is a role for monetary policy in preventing asset price busts. The second, "Medium-Run Output Evolutions after Crises: A Historical Perspective," explores the effect of large economic shocks on output and its composition, including variations related to initial conditions, the type of shock, and economic policies.
Download or read book Bank Lending in Turkey written by Ms.Deniz Igan and published by International Monetary Fund. This book was released on 2010-10-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The period following the 2000-01 crisis was marked by a successful disinflation program sustained through inflation targeting and fiscal discipline in Turkey. This paper studies the impact of monetary and fiscal policies on credit growth during this period. Using quarterly bank-level data covering 2002-08, we find evidence that liquidity-constrained banks have sharper decline in lending during contractionary monetary policies and that crowding-out effect disappears more for banks with a retail-banking focus when fiscal policies are prudent.The results are statistically weak, suggesting that bank lending channel is not strong in Turkey and government finances has limited direct impact on credit.
Download or read book Financial Crises in Emerging Markets written by Skanderbeg Schmusch and published by GRIN Verlag. This book was released on 2008-10 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2008 in the subject Business economics - Miscellaneous, grade: 1.3, Marmara University (Department of Economics), course: Seminar Paper, 34 entries in the bibliography, language: English, abstract: This paper attemps to picture the economical background of Turkey prior to the 2001 crisis, and then analyze the main characteristics of environment in which such a large scale nancial crisis could break out. The following section will rstly introduce an overview of the basic theoretical literature on nancial crises in emerging markets, as this may contribute towards a better comprehension of the economical interrelations of the theoretical framework in which the Turkish nancial crisis is embedded. Section 3, then, provides the Turkish case in detail. To familiarize the reader with the economical and political enviroment in which the crisis could occur, the rst subsection will provide a brief account of the Turkish economy prior to the crisis, special emphasis will be on the nancial liberalization proccess and the resulting changes in the banking sector. The tide of events of the crisis itself as well as its economical consequences and policy responses are part of the second and third subsection respectively. The paper will be concluded by summing up the essential causes and main characteristics of the crisis and an attempt to assign its place in the theoretical framework.
Download or read book The Making of the Turkish Financial Crisis written by Yilmaz Akyüz and published by . This book was released on 2002 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Turkey at the Crossroads written by Reza Moghadam and published by International Monetary Fund. This book was released on 2005-09-19 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Almost five years after the 2000-01 economic crisis, the fortunes of Turkey's economy have been transformed, with rapid economic growth for three successive years. This paper analyzes Turkey's economic performance under its reform program supported by the IMF and sets out guideposts for the reform agenda that lies ahead. Chapters examine economic growth since 1960, inflation, balance sheet developments, debt, the sustainability of fiscal adjustment, bank restructuring, and labor market developments, as well as the lessons from an empirical model of fiscal policy in emerging markets.
Download or read book A Dynamic Approach to Analyzing the Effect of the Global Crisis on Non performing Loans written by Vuslat Us and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Turkey written by Anne O. Krueger and published by . This book was released on 1974 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic research monograph on foreign exchange control systems and trade liberalization-cum-devaluation experience in Turkey - examines the role of economic planning and its interaction with trade, export earnings, the balance of payments, resource allocation and economic growth, etc. References and statistical tables.
Download or read book Financial Crisis Monetary Policy Reform and the Monetary Transmission Mechanism in Turkey written by James L. Butkiewicz and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
