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Cari açık, bütçe dengesi, finansal istikrar ve para politikası: Heyecanlı bir dönemin izi

Author

Listed:
  • Yıldız AKKAYA

    (Bilkent Üniversitesi)

  • Refet S. GÜRKAYNAK

    (Bilkent Üniversitesi)

Abstract

2001 krizi Türkiye iktisat tarihinde önemli bir milattır. Bu makalede kriz sonrası dönemi 2002-2006 ve 2007-2012 alt dönemlerinde inceliyoruz. 2002-2006 güçlü bir stabilizasyon programının başarıyla uygulandığı, ekonominin normalleştiği bir dönemdir. Daha yakın döneme ilişkin başlıca hususlar ise (i) 2006 sonundan beri genel bir iktisat politikası boşluğu olduğu, (ii) cari açığın düzey olarak çok yüksek bir platoya yerleştiği ve bunun artık eskisi gibi bütçe açığı tarafından sürüklenmediği, (iii) ekonominin karşılaştığı yeni risk ve sorunlar eskilerinden farklı olduğu için kurumsal yapının bunlara karşılık vermekte zorlandığı, (iv) bu nedenle toplam kredi büyümesi, cari açık ve bunun finansmanı gibi konuların sahipsiz kaldıkları ve aslında bunlardan sorumlu olmayan Merkez Bankası’nca sahiplenildikleri ve (v) elinde bu sorunlar ile baş etmek için uygun araçlar olmayan Merkez Bankası’nın bu çabasının kurumsal olarak MB için ve bir bütün olarak Türkiye ekonomisi için önemli maliyetler doğurduğudur. Makalede birçok değişik bağlamda vurgulanan husus herhangi bir amacın vazife olarak verildiği kurumun o amaca ulaşmak için gereken araçları haiz kurum olması gerektiğidir.

Suggested Citation

  • Yıldız AKKAYA & Refet S. GÜRKAYNAK, 2012. "Cari açık, bütçe dengesi, finansal istikrar ve para politikası: Heyecanlı bir dönemin izi," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 27(315), pages 93-119.
    • Handle: RePEc:iif:iifjrn:v:27:y:2012:i:315:p:93-119
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    References listed on IDEAS

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    Cited by:

    1. A.Hakan KARA, 2012. "Küresel kriz sonrası para politikası," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 27(315), pages 09-36.
    2. Refet S. GÜRKAYNAK & Zeynep KANTUR & M.Anıl TAŞ & Seçil YILDIRIM-KARAMAN, 2015. "Monetary Policy in Turkey after Central Bank Independence," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 30(356), pages 09-38.
    3. A. Kara, 2013. "Monetary Policy after the Global Crisis," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 41(1), pages 51-74, March.
    4. Fatih Özatay, 2016. "Turkey’s Distressing Dance With Capital Flows," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(2), pages 336-350, February.
    5. Osman F. Abbasoğlu & Ayşe İmrohoroğlu & Ayşe Kabukçuoğlu, 2019. "The Turkish Current Account Deficit," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 515-536, January.
    6. Asaf Akat & Ege Yazgan, 2013. "Observations on Turkey’s Recent Economic Performance," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 41(1), pages 1-27, March.
    7. Troy Davig & Refet S. Gürkaynak, 2015. "Is Optimal Monetary Policy Always Optimal?," International Journal of Central Banking, International Journal of Central Banking, vol. 11(4), pages 353-382, September.
    8. A. Hakan Kara, 2012. "Monetary Policy in Turkey After the Global Crisis," Working Papers 1217, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    9. K. Kývanc Karaman & Seçil Yýldýrým-Karaman, 2017. "The Monetary Policy Change in Turkey in 2009 and Its Implications for Inflation and Growth," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 31(1), pages 1-21.

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    More about this item

    Keywords

    Türkiye ekonomisi; Para politikası; Zorunlu karşılık; Faiz koridoru; Faiz varyansı.;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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