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Dynamics of inflation in Turkey during the 1990s

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  • A. Montagnoli
  • O. Napolitano

Abstract

This article assesses the credibility of disinflation programmes in Turkey during the nineties, where several programmes of reform took place. The empirical results show that there was a sharp loss of credibility at the end of the 1991 and at the beginning of the 1994 and during the Asian crisis. The programme that the Central Bank implemented after the crisis was able to increase the level of credibility of the CBRT policies. Loss of credibility is registered during the end of the 1995, while various political events took place and during the 1997 following the world economic conditions and the outflow of capitals.

Suggested Citation

  • A. Montagnoli & O. Napolitano, 2003. "Dynamics of inflation in Turkey during the 1990s," Applied Economics Letters, Taylor & Francis Journals, vol. 10(10), pages 647-650.
    • Handle: RePEc:taf:apeclt:v:10:y:2003:i:10:p:647-650
    DOI: 10.1080/1350485032000125209
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    References listed on IDEAS

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    1. Agenor, Pierre-Richard & Taylor, Mark P, 1993. "Analysing Credibility in High-Inflation Countries: A New Approach," Economic Journal, Royal Economic Society, vol. 103(417), pages 329-336, March.
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    Cited by:

    1. Coleman, Simeon, 2010. "Inflation persistence in the Franc zone: Evidence from disaggregated prices," Journal of Macroeconomics, Elsevier, vol. 32(1), pages 426-442, March.

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