Turkish economy in the aftermath of the global crisis has faced an unprecedented divergence between domestic and external demand. Increasing risks in the face of surging short-term capital inflows, deteriorating current account deficit and rapid credit growth have called for an alternative...

Global crisis has underlined the essentiality of deepening our understanding and knowledge about the financial system. Accordingly, recent debates on macroeconomic policies focused exclusively on the financial system. This survey aims at contributing to the efforts on expanding our existing...

This paper focuses on emerging countries whose credit ratings are upgraded to investmentʺ level since 1990 and analyses the trends in selected financial and macroeconomic indicators before and after the upgrade decision. The analysis reveals that access to foreign capital gets easier after...

This paper compares the ability of different market instruments in terms of predicting monetary policy decisions to find out which one best captures market participants policy expectations. Towards this end, policy rate expectations implied by various market instruments and different approaches...