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Is There an End to the Currency Crisis in Turkey?: An Empirical Investigation

In: Studies in International Economics and Finance

Author

Listed:
  • Balaga Mohana Rao

    (Indian Institute of Technology)

  • Suvvari Ananda Rao

    (SRM University AP)

Abstract

Our study investigates the currency crisis in Turkey for the period 2001Q1–2020Q4. In this paper, we construct an Exchange Market Pressure Index to identify the currency crisis and/or stress periods. After identifying the crisis periods, we use the binary logit model to find the determinants of the crisis in Turkey. The following periods have been identified as crisis periods: 2001Q1, 2001Q2, 2001Q3, 2001Q4, 2018Q3, 2020Q3 and 2020Q4. Our results suggest that rate, current account balance, openness, exports and inflation act as the determinants of the currency crisis in Turkey.

Suggested Citation

  • Balaga Mohana Rao & Suvvari Ananda Rao, 2022. "Is There an End to the Currency Crisis in Turkey?: An Empirical Investigation," India Studies in Business and Economics, in: Naoyuki Yoshino & Rajendra N. Paramanik & Anoop S. Kumar (ed.), Studies in International Economics and Finance, pages 513-526, Springer.
    • Handle: RePEc:spr:isbchp:978-981-16-7062-6_25
    DOI: 10.1007/978-981-16-7062-6_25
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