Turhan, Ibrahim M. and Kilinc, Zubeyir (2011): Turkey's response to the global economic crisis. Published in: Insight Turkey , Vol. 13, No. 1 (2011): pp. 37-45.
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Abstract
Turkey was not affected by the financial crisis as much as the advanced economies and managed to rapidly exit the turmoil. The reasons behind the strong response and quick recovery of the Turkish economy were its low country risk and low currency risk premiums. This study shows the foundations of these low risk premiums and compares some measures of these risks of the Turkish economy with peer countries. Second, this paper demonstrates that all of Turkey’s economic sectors were very strong before the crisis and sustained this strength during the course of the crisis. Finally, it discusses the policies that have already been taken and planned to be taken by Turkey’s economic authorities. The government seems to be very determined in keeping fiscal discipline as tight as necessary while not being excessive
| Item Type: | MPRA Paper |
|---|---|
| Original Title: | Turkey's response to the global economic crisis |
| Language: | English |
| Keywords: | financial crises, global economic crisis, Turkey, economic policies, financial markets |
| Subjects: | E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook > E66 - General Outlook and Conditions E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation G - Financial Economics > G0 - General > G01 - Financial Crises |
| Item ID: | 31214 |
| Depositing User: | Ibrahim M. Turhan |
| Date Deposited: | 06 Feb 2012 16:43 |
| Last Modified: | 01 Oct 2019 16:40 |
| References: | The Central Bank of the Republic of Turkey, http://www.tcmb.gov.tr The Central Bank of the Republic of Turkey, http://evds.tcmb.gov.tr/yeni/cbt-uk.html The Central Bank of the Republic of Turkey, http://www.tcmb.gov.tr/yeni/iletisimgm/Turhan_Ocak2010_Londra.pdf IMF World Economic Outlook, October 2010. Banking Regulation and Supervision Agency of Turkey http://www.bddk.org.tr/websitesi/english/Statistical_Data/Statistical_Data.aspx Bloomberg Datastream |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/31214 |
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