We investigate whether the impacts of the main push (global financial conditions, GFC) and pull (growth) factors on capital inflows are invariant to endogenously estimated thresholds for exchange rate regimes (ERRs) in emerging market economies. The impact of GFC is higher under more flexible...

This paper investigates the empirical validity of the capital enhanced equilibrium exchange rates (CHEERs) model for the Turkish data. The results of the Johansen cointegration analyses for the variable system containing Turkish and US inflation rates, interest rates, and exchange rate suggest...

Bu çalışmada, cari açık nedenleri, sonuçları ve ekonomi politikaları imaları, yakın dönem Türkiye deneyimi çerçevesinde, tartışılmaktadır. Çalışmaya göre, sürdürülebilir cari açık oranı ve cari açık-kur ilişkileri, kurumsal/fi nansal yapı, döviz kuru rejimi,...

This paper empirically investigates the effects of institutional and macroeconomic policy stance variables on current account deficits (CAD). Based on cross-section data for a broad number of developing and industrial countries, the results strongly suggest that better governance increases...

We investigate whether the fact that most countries cannot borrow internationally in their own currencies, referred to as “original sin” by Eichengreen and Hausmann (1999), may remain as a “mystery” when an alternative variable set and estimation procedure are taken into account. Our...

Bu çalışmada, TCMB Sektör Bilançoları ve TCMB Risk Merkezi şirket düzeyi verileri kullanılarak, Türkiye’de reel sektörün, temelde küresel dengesizliklerin intibakıyla uluslararası faiz oranlarındaki artış veya özellikle gelişmekte olan ülkelere olan sermaye girişlerindeki...

This paper investigates whether the recent experience of the emerging East Asian countries with current account surpluses is consistent with the “saving glut” hypothesis and the Feldstein and Horioka puzzle. The evidence suggests that the saving retention coefficients declined substantially...