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In 1980 Turkey embarked on a far-reaching stabilization and liberalization program, which contributed to export … general equilibrium model, suggest that Turkey would have experienced a significantly lower inflation rate, with only a small …
Persistent link: https://www.econbiz.de/10014395994
Persistent link: https://www.econbiz.de/10014409758
In View of the continuation of substantial movements in exchange rate relationships among major currencies, the recent increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about the possible adverse effects of exchange rate...
Persistent link: https://www.econbiz.de/10014406218
This paper reviews developments and issues in the exchange arrangements and currency convertibility of IMF members. Against the backdrop of continuing financial globalization and a series of emerging market crises since 1997, there have been important changes in the evolution of exchange rate...
Persistent link: https://www.econbiz.de/10014404579
Persistent link: https://www.econbiz.de/10004777019
This paper presents evidence that spillovers through bank lending, as opposed to trade linkages and country characteristics, can help explain contagion. We construct a measure of competition for bank funds and find evidence in favor of a common lender effect in the Mexican, Thai, and Russian...
Persistent link: https://www.econbiz.de/10014401017
This paper analyzes the origins, implications, and solutions for the Asian financial crisis. From the perspective of a member of the Executive Board of the IMF, as Asian problems were building, the IMF overlooked weaknesses in bank and corporate balance sheets in much of Asia: the IMF was...
Persistent link: https://www.econbiz.de/10014397245
This paper develops a small analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring a nominal devaluation. The effects of postponing adjustment depend on the source of the original...
Persistent link: https://www.econbiz.de/10014396111
The staff report for the Sixth Review and Inflation Consultation Under the Stand-By Arrangement on Turkey explains the …
Persistent link: https://www.econbiz.de/10014405833
The staff report for the 2007 Article IV Consultation highlights Turkey’s economic revival and policies to entrench … macroeconomic stability. Turkey has experienced an impressive economic revival in recent years. Exports have continued to gain … considered that Turkey needs to manage vulnerabilities carefully and address structural challenges to increase the economy …
Persistent link: https://www.econbiz.de/10014405834