Turkey’s experience with the global crisis: restructuring policies within a financial stability framework
The challenges threatening financial stability have grown owing to the increasing uncertainties in the global markets since the financial crisis. This has led policymakers to grant a larger role to financial stability in their implementations. Accordingly, the Turkish Central Bank modified its existing inflation targeting framework by explicitly highlighting the role of financial stability rather than imposing capital controls solely. Required reserves, interest rate corridor and liquidity management policies are utilized in addition to the one-week repo rate. We conclude that Turkey’s new policy mix has so far been effective at discouraging capital short-term inflows, representing an alternative approach to capital controls.
Volume (Year): 15 (2012)
Issue (Month): 3 (September)
|Contact details of provider:|| Web page: http://www.tandfonline.com/GPRE19|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/GPRE19|
When requesting a correction, please mention this item's handle: RePEc:taf:jpolrf:v:15:y:2012:i:3:p:195-205. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.