The paper seeks to analyze various contemporary theories in the measurement of real exchange rates and the associated problematics involved in each case particularly for a developing economy. It then focuses on the estimation of real exchange rate for the developing economy of Turkey using the...

The paper seeks to unfold some of the popular myths and realities concerning the recent financial crisis in the MIT (Malaysia-Indonesia-Thailand) countries. In this connection, it also analyses the various models of speculative attacks and their applicability, and the systemic implications of...

In this paper we assess a country’s investment risk by studying its vulnerability to shocks in macroeconomic variables including GDP growth, infl ation, and unemployment. Based on the criteria of quick stabilization in the impulse responses of the macro variables after a one standard deviation...

On the basis of civil-liberty index and trade openness ratio ([export + import]/GDP), this empirical study makes use of time series data (1972-2001) to analyze the relationship between trade liberalization and civil liberty in Turkey. With the help of cointegration analysis, the study comes to...