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Impact Of Covid-19 Pandemic On International Capital Mobility: The Case Of Turkey

Author

Listed:
  • Nermin Guney

    (ISKENDERUN TECHNICAL UNIVERSITY)

  • Sertaç Hopoğlu

    (ISKENDERUN TECHNICAL UNIVERSITY, FACULTY OF BUSINESS ADMINISTRATION AND MANAGEMENT SCIENCES)

Abstract

Multinationals operating in countries whose real sectors are depending on imports of raw materials, energy and capital goods, positively affect employment and economic growth of the host countries. Foreign capital can enter a country in the form of Foreign Direct Investments and Portfolio Investments. Turkey was among the countries offering highest interest rates before 2020 and the preference of the country by short-term portfolio investments pose risks for Turkey. Sudden exit and entry of such “hot money” may result in crises. COVID-19, is a respiratory infection declared as a pandemic by the World Health Organization as of March 11, 2020, and has been affecting all aspects of human life since. The spread of the COVID-19 in all countries of the world in a very short time necessitated taking measures in both health and economy on a global scale. In this study, positive and negative effects of the international capital mobility to and from Turkey during the pandemic are analyzed and its general effects on the Turkish economy are investigated. Whether the circumstances created by the pandemic caused a sudden stop in Turkey is also theoretically discussed.

Suggested Citation

  • Nermin Guney & Sertaç Hopoğlu, 2021. "Impact Of Covid-19 Pandemic On International Capital Mobility: The Case Of Turkey," Ekonomi Maliye Isletme Dergisi, Adil AKINCI, vol. 4(1), pages 56-74, June.
    • Handle: RePEc:gnx:emid43:2021-4-1-870510
    DOI: 10.46737/emid.870510
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    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • G01 - Financial Economics - - General - - - Financial Crises

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