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Financial Reform in Turkey since 1980: Liberalization without Stabilization

In: The Economy of Turkey since Liberalization

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  • P. N. Snowden

Abstract

Bank time deposit interest rates in Turkey were first deregulated in July 1980 as part of an overall programme of economic liberalization. Although early difficulties led to the reintroduction of controls in 1982, the Central Bank usually set deposit rates above the rate of inflation after 1984 (when non-preferential loan rates were also liberalized). The reintroduction of deposit rate competition in the late 1980s subsequently stimulated intense competition in the Turkish financial sector as commercial banks sought to secure funds.

Suggested Citation

  • P. N. Snowden, 1996. "Financial Reform in Turkey since 1980: Liberalization without Stabilization," Palgrave Macmillan Books, in: S. Togan & V. N. Balasubramanyam (ed.), The Economy of Turkey since Liberalization, chapter 4, pages 67-87, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24464-5_4
    DOI: 10.1007/978-1-349-24464-5_4
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