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Turkey: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper on Turkey reviews a decline in private saving and adoption of a fiscal rule. As economic confidence has improved, capital inflows have surged while private saving has fallen. Together, these developments have produced current account deficits and a strong lira, raising concerns that Turkey may be exposed to sudden reversals in investor sentiment. A fiscal rule with appropriate mechanisms to monitor its compliance should deliver predictable policies, thus allowing further reductions in debt and risk premiums, thereby contributing to macroeconomic stability.

Suggested Citation

  • International Monetary Fund, 2007. "Turkey: Selected Issues," IMF Staff Country Reports 2007/364, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2007/364
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=21455
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    References listed on IDEAS

    as
    1. Xiaowei Li, 2001. "Mortgage Market Development, Savings, and Growth," IMF Working Papers 2001/036, International Monetary Fund.
    2. Campbell, John Y. & Cocco, Joao F., 2007. "How do house prices affect consumption? Evidence from micro data," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 591-621, April.
    3. Sukru Binay & Ferhan Salman, 2007. "A Critique on Turkish Real Estate Market," Working Papers 2008/8, Turkish Economic Association.
    4. Koskela, Erkki & Loikkanen, Heikki A. & Viren, Matti, 1992. "House prices, household saving and financial market liberalization in Finland," European Economic Review, Elsevier, vol. 36(2-3), pages 549-558, April.
    5. Tullio Jappelli & Marco Pagano, 1994. "Saving, Growth, and Liquidity Constraints," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(1), pages 83-109.
    6. Guy Debelle, 2004. "Household debt and the macroeconomy," BIS Quarterly Review, Bank for International Settlements, March.
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    Cited by:

    1. Alpaslan AKÇORAOĞLU & Erkan AĞASLAN, 2009. "Current Account Deficits, Sustainability and Global Financial Crisis: Evidence from Turkey, 1987-2008," Ekonomik Yaklasim, Ekonomik Yaklasim Association, vol. 20(72), pages 1-20.
    2. Abdulbaki Bilgic & Steven T. Yen, 2014. "Demand for meat and dairy products by Turkish households: a Bayesian censored system approach," Agricultural Economics, International Association of Agricultural Economists, vol. 45(2), pages 117-127, March.
    3. Savaş ÇEVİK, 2015. "Domestic Saving and Tax Structure: Evidence from Turkey," Sosyoekonomi Journal, Sosyoekonomi Society, issue 23(23).
    4. Bozoglu, Mehmet & Bilgic, Abdulbaki & Yen, Steven T. & Huang, Chung L., 2013. "Household food expenditures at home and away from home in Turkey," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 149737, Agricultural and Applied Economics Association.

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