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Turkey’s Distressing Dance With Capital Flows

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  • Fatih Özatay

Abstract

In the aftermath of the 2001 crisis, Turkey took important steps toward achieving macroeconomic and financial stability. Together with favorable international financial conditions, this helped to achieve a high per capita GDP growth. The high-growth period failed to be sustainable, however. From 2008 to 2013, Turkey had a volatile and low growth. In this article, I aim to analyze the underlying reasons of high volatility of growth and discuss short-term economic policy alternatives to mitigate such undesired fluctuations.

Suggested Citation

  • 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.
    • Handle: RePEc:mes:emfitr:v:52:y:2016:i:2:p:336-350
    DOI: 10.1080/1540496X.2015.1011539
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    Cited by:

    1. Balcilar, Mehmet & Kutan, Ali M. & Yaya, Mehmet E., 2017. "Testing the dependency theory on small island economies: The case of Cyprus," Economic Modelling, Elsevier, vol. 61(C), pages 1-11.
    2. Huseyin Ozturk, 2020. "The shape of sovereign yield curve in an emerging economy: Do macroeconomic or external factors matter?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(1), pages 83-112, February.

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