Does the bank lending channel of monetary transmission work in Turkey? Using the May- June 2006 financial turbulence as … response of Turkey''s banks, depending on their balance sheet characteristics. The empirical results indicate that banks can … play a role in Turkey''s monetary transmission mechanism. Specifically, bank liquidity is found to have a significant …

This paper examines the links between fiscal policy, capital inflows, and the real exchange rate in Turkey since the … late 1980s. After an overview of recent macroeconomic developments in Turkey, a vector autoregression model is estimated …

crisis have improved Turkey''s overall sovereign risk profile. Nonetheless, the country remains subject to bouts of … volatility, as evidenced most recently in the May/June 2006 market turbulence. This paper examines these changes in Turkey …''s risk profile using the Contingent Claims Approach (CCA), to quantify the evolution of Turkey''s sovereign risk, relate risk …

This paper evaluates Turkey’s Second Review Under the Stand-By Arrangement (SBA). Since the completion of the Article …

The key policy challenge for Turkey in the years ahead will be to enhance and consolidate the advances made since the … levels. This paper reviews Turkey’s policy performance in terms of growth, inflation, debt, fiscal and financial sector …

This paper contains an empirical analysis of currency substitution in Turkey: a simple relationship between the share …