Turkey's response to the global economic crisis
AbstractTurkey was not affected by the financial crisis as much as the advanced economies and managed to rapidly exit the turmoil. The reasons behind the strong response and quick recovery of the Turkish economy were its low country risk and low currency risk premiums. This study shows the foundations of these low risk premiums and compares some measures of these risks of the Turkish economy with peer countries. Second, this paper demonstrates that all of Turkey’s economic sectors were very strong before the crisis and sustained this strength during the course of the crisis. Finally, it discusses the policies that have already been taken and planned to be taken by Turkey’s economic authorities. The government seems to be very determined in keeping fiscal discipline as tight as necessary while not being excessive
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 31214.
Date of creation: 2011
Date of revision:
Publication status: Published in Insight Turkey 1.13(2011): pp. 37-45
financial crises; global economic crisis; Turkey; economic policies; financial markets;
Find related papers by JEL classification:
- E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- G01 - Financial Economics - - General - - - Financial Crises
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-02-20 (All new papers)
- NEP-ARA-2012-02-20 (MENA - Middle East & North Africa)
- NEP-CWA-2012-02-20 (Central & Western Asia)
- NEP-MAC-2012-02-20 (Macroeconomics)
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- Aysan, Ahmet Faruk & Güler, Mustafa Haluk & Orman, Cüneyt, 2013. "The Road to Sustainable Growth in Emerging Markets: The Role of Structural and Monetary Policies in Turkey," MPRA Paper 44730, University Library of Munich, Germany.
- Mustafa Kilinç & Zübeyir Kilinç & M. Ibrahim Turhan, 2012. "Resilience of the Turkish Economy During the Global Financial Crisis of 2008," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 48(S5), pages 19-34, November.
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