This paper analyzes the 1994 crisis in Turkey. The period preceding the crisis witnessed a continuous deterioration of macroeconomic fundamentals. However, domestic debt financing of public deficits prevented reserve losses and an increase in inflation rate. It is argued that despite weak...

Public enterprise prices are important policy instruments in developing economies. This is why public sector price polices constitute a key element of stabilization programmes implemented in these economies. However, this significance is not specific to stabilization episodes. First, this study...

It has been widely demonstrated that asset prices react sensitively to macroeconomic news releases both in the industrialized countries and emerging markets. However, there are contradicting results on the effects of changes in interest rates of industrialized countries on asset prices of...