Finansal Stres ve Iktisadi Faaliyet
AbstractThis study examines the interaction between financial stress and economic activity across emerging markets (EMs). Episodes of financial stress can be broadly defined as periods when the financial system is under acute strain and its ability to intermediate is impaired. This study introduces a monthly composite index used to measure financial stress episodes across EMs. The study then examines the implications of domestic and external financial stress shocks on Turkish economic activity and contrasts the dynamics with that of other EMs. Quantitatively, financial stress matters. Specifically, even a temporary financial stress shock can drag industrial production substantially below trend.
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Bibliographic InfoArticle provided by Research and Monetary Policy Department, Central Bank of the Republic of Turkey in its journal Central Bank Review.
Volume (Year): 10 (2010)
Issue (Month): 2 ()
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More information through EDIRC
Financial crises; Financial stress index; Emerging market economies;
Other versions of this item:
- Selim Elekdag & Ibrahim Burak Kanli, 2010. "Finansal Stres ve Iktisadi Faaliyet," CBT Research Notes in Economics, Research and Monetary Policy Department, Central Bank of the Republic of Turkey 1006, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
- F30 - International Economics - - International Finance - - - General
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stephan Danninger & Irina Tytell & Ravi Balakrishnan & Selim Elekdag, 2009. "The Transmission of Financial Stress From Advanced to Emerging Economies," IMF Working Papers 09/133, International Monetary Fund.
- Subir Lall & Roberto Cardarelli & Selim Elekdag, 2009. "Financial Stress, Downturns, and Recoveries," IMF Working Papers 09/100, International Monetary Fund.
- Cardarelli, Roberto & Elekdag, Selim & Lall, Subir, 2011. "Financial stress and economic contractions," Journal of Financial Stability, Elsevier, Elsevier, vol. 7(2), pages 78-97, June.
- Abdul Abiad & Petya Koeva Brooks & Irina Tytell & Daniel Leigh & Ravi Balakrishnan, 2009. "Whatâ€™S the Damage? Medium-Term Output Dynamics After Banking Crises," IMF Working Papers 09/245, International Monetary Fund.
- Kibritçioğlu, Aykut, 2010.
"Küresel Finans Krizinin Türkiye'ye Etkileri
[Effects of Global Financial Crisis on Turkey]," MPRA Paper 29470, University Library of Munich, Germany.
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