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Finansal Stres ve Iktisadi Faaliyet

Author

Listed:
  • Selim Elekdag
  • Ibrahim Burak Kanli
  • Zahid Samancioglu
  • Cagri Sarikaya

Abstract

This study examines the interaction between financial stress and economic activity across emerging markets (EMs). Episodes of financial stress can be broadly defined as periods when the financial system is under acute strain and its ability to intermediate is impaired. This study introduces a monthly composite index used to measure financial stress episodes across EMs. The study then examines the implications of domestic and external financial stress shocks on Turkish economic activity and contrasts the dynamics with that of other EMs. Quantitatively, financial stress matters. Specifically, even a temporary financial stress shock can drag industrial production substantially below trend.

Suggested Citation

  • Selim Elekdag & Ibrahim Burak Kanli & Zahid Samancioglu & Cagri Sarikaya, 2010. "Finansal Stres ve Iktisadi Faaliyet," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 10(2), pages 1-8.
    • Handle: RePEc:tcb:cebare:v:10:y:2010:i:2:p:1-8
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    File URL: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Publications/Central+Bank+Review/2010/Volume+10-2/
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    Cited by:

    1. Kibritçioğlu, Aykut, 2010. "Küresel Finans Krizinin Türkiye'ye Etkileri [Effects of Global Financial Crisis on Turkey]," MPRA Paper 29470, University Library of Munich, Germany.
    2. Chadwick, Meltem Gulenay & Ozturk, Huseyin, 2019. "Measuring financial systemic stress for Turkey: A search for the best composite indicator," Economic Systems, Elsevier, vol. 43(1), pages 151-172.

    More about this item

    Keywords

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    JEL classification:

    • F30 - International Economics - - International Finance - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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