Showing 1 - 4 of 4
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process. High consumer price inflation and a wide current account deficit are sources of vulnerability. Even though below-potential growth helps rebalancing and disinflation, these...
Persistent link: https://www.econbiz.de/10011277023
Effective macroeconomic and structural policies helped Turkey bounce back quickly and strongly from the global crisis, with annual growth averaging close to 9% over 2010-11. However, the current account deficit widened to around 10% of GDP in 2011 and consumer price inflation rose to over 10%....
Persistent link: https://www.econbiz.de/10011277032
In this working paper, we decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than responding to output variations. We also found that while the...
Persistent link: https://www.econbiz.de/10005045613
appreciation, and undermining the competitiveness of labour-intensive segments of the economy. Turkey is, therefore, faced with the … appear to go beyond the absorption and adaptation capacity of large segments of the economy. This chapter argues that …
Persistent link: https://www.econbiz.de/10005046055