The Determinants of the 2000-2001 Financial Crisis in Turkey PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download The Determinants of the 2000-2001 Financial Crisis in Turkey PDF full book. Access full book title The Determinants of the 2000-2001 Financial Crisis in Turkey by Donna Mary Colaço. Download full books in PDF and EPUB format.
Author: Donna Mary Colaço
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Donna Mary Colaço
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Caroline van Rijckeghem
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 196
Get Book Here
Book Description
Author: Ziya Onis
Publisher: Routledge
ISBN: 1135758689
Category : Political Science
Languages : en
Pages : 210
Get Book Here
Book Description
This book provides a set of critical perspectives on the economic crises of 2000 and 2001 focusing on both the origins and consequences of the crises. Attention is drawn to the role of domestic actors as well as key external actors such as the International Monetary Fund in precipitating the twin crises.
Author: Mustafa Erdem Ozgur
Publisher:
ISBN:
Category :
Languages : en
Pages : 296
Get Book Here
Book Description
Author: Ziya Onis
Publisher: Routledge
ISBN: 1135268045
Category : Business & Economics
Languages : en
Pages : 503
Get Book Here
Book Description
Since the financial crisis of 2000 and 2001 the Turkish economy has undergone considerable change and some improvement. This book gives a detailed examination of the neo-liberal restructuring that has taken place and the challenges the economy still faces, providing a comparative perspective on recent reforms and the position of Turkey in the global economy. This book examines all major aspects of the post-crisis economic performance of the Turkish economy. Major sectors of the economy such as agriculture and manufacturing along with key issues such as privatization, export growth, developments in the labour market, poverty and social exclusion are analysed in detail. The authors consider Turkish performance from a comparative perspective, drawing attention to its similarities with the experience of other emerging markets. Providing an insight into the major difficulties of post-crisis adjustment, sustainability of the gains achieved so far and the challenges that lie ahead, this book will be of interest to academics and scholars in the fields of International Political Economy and Globalization Studies, Middle East Studies and Development Studies, as well as having significance for practitioners in emerging markets.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
The aim of this thesis is to identify and assess the reasons of the Turkish financial crises based on various crises model explanations including the first, the second and the third generation models. It is argued that following factors played a crucial role in triggering crises in Turkey. Firstly, under the weak sustainable fiscal policies, implementation of the exchange rate based stabilization program caused the increase in vulnerabilities in the sectoral balance sheets and thus increased the prospective deficit considerations. Secondly, as seen on the international evidence, over-appreciation of the domestic currency put pressure on the current account deficit and other macroeconomic indicators. Thirdly, domestic and external factors also worsen the perceptions on the sustainability of the disinflation program leading to sharp capital outflows. Within this context, fiscal and current account sustainability are empirically tested under the light of the structural break analysis and it is found that fiscal stance and the current account deficit are both weakly sustainable implying the necessity of policy regime changes before the crises period. Having assessed the structural problems of the government, corporate and banking sector’s balance sheets, intersectoral risk matrix was constructed to analyze the risk accumulation in the sectors considering the impacts of the exchange rate based disinflation program and the ongoing economic imbalances. Both mismanagement of the risks and the structural weaknesses of some banks led to the deterioration of the expectations about the continuity of the program, by increasing tensions and prospective deficit perceptions in the markets. With speculative attacks, a sharp capital outflow was triggered the crises. It is concluded that the causes of the 2000-2001 Turkish financial crises can be interpreted as an example of financial crises model encompassing all elements of the earlier models except seignorage issues.
Author: Af Ar Emre
Publisher: LAP Lambert Academic Publishing
ISBN: 9783846553022
Category :
Languages : en
Pages : 108
Get Book Here
Book Description
Following the most severe financial crises since WW2, the Turkish economy demonstrated a stellar growth performance after 2001. The strong commitment to the fiscal discipline and to the powerful external anchors such as the IMF and EU were key to this success. The central question is what motivated the JDP government to show this long-lasting commitment to the fiscal discipline and the external anchors particularly to the IMF-induced economic programs. Growing ties with the global economy, the new institutional framework, the new balance of power within the networks shaping the Turkish political economy and the successful implementation of the JDP's prudent political economy agenda are the four plausible explanations for the central question. Each of these explanations is elaborated in a separate chapter and the growing ties with the global economy prevail as the most competent explanation since it directly contributes to the emerging of the other three explanations.
Author: Faruk Selcuk
Publisher: Routledge
ISBN: 1351739271
Category : Business & Economics
Languages : en
Pages : 242
Get Book Here
Book Description
This title was first published in 2002. Since the 1990s Turkey has experienced a number of disasters, both physical and economic. The result has been a decrease in economic performance compared to other European states. This study addresses the country's ongoing economic struggles.
Author: Mathieu Perron-Dufour
Publisher:
ISBN:
Category : Financial crises
Languages : en
Pages : 245
Get Book Here
Book Description
The phenomenal financial expansion of the last decades has been characterised by an exacerbation of systemic instability and an increase in the frequency of financial crises, culminating in the recent meltdown in the US financial sector. The literature on financial crises has developed concomitantly, but despite a large number of papers written on this subject, economists are still struggling to understand the underlying determinants of these phenomena. In this dissertation, I argue that one of the reasons for this apparent failure is the way agents, as well as the environment in which they evolve, are modelled in this literature. After reviewing the existing literature on international financial crises, I outline an alternative framework, drawing from Post-Keynesian and Behavioural insights. In this framework, international financial crises are seen as being a direct consequence of the way agents formulate expectations in an environment of fundamental uncertainty and the investment and financial decisions they subsequently take. I argue that the psychological heuristics agents use in formulating expectations under fundamental uncertainty can lead to decisions which fragilise the economy and can thus be conducive to financial crises. I then apply this framework to the study of the 2000-2001 financial crisis in Turkey, which is notorious for not lending itself easily to explanations based on the existing theoretical literature on international financial crises. After outlining the crisis and reviewing the main existing accounts, I identify two moments prior to the crisis: A phase of increasing financial fragility, lasting from a previous crisis in 1994 to 1999, and a financial bubble in 2000 during the implementation of an IMF stabilisation program, partly predicated on the previous increase in financial fragility. My framework can account for both periods; it fits particularly well the first one and enhances the explanatory content of existing stories about the events that took place in 2000.
Author: Ziya Öniş
Publisher:
ISBN:
Category :
Languages : en
Pages : 34
Get Book Here
Book Description
Turkey has experienced consecutive financial cises in November 2000 and February 2001. The crisis of 2001 was particularly far-reaching in terms of its impact resulting in a major collapse of output and employment. It was also quite distinct in terms of its income distributional consequences from the previous economic crises that Turkey has experienced in the sense that not only the wage earners, but all sections of society at varying degrees encountered the negative consequences of the crisis. What is also striking is that the crisis provided an avenue for a new wave of neo-liberal restructuring with a major emphasis on regulatory reforms, particularly in the realm of the banking and the financial sector. The objective of the paper is to examine the transformation of Turkey's political economy in the post-2001 era focusing on four key inter-related elements: the impact of the World Bank and the IMF; the restructuring of the state's relationship with the domestic financial sector especially through regulatory reforms; the opening up of Turkey to foreign direct investment; and the adoption of a wide range of reforms modelled on the European Union, in line with the goal of entry into the EU. Indeed, the regional context involving the conditionality associated with the eventual membership of the EU has provided the political focus of the process as a whole. A central question to be addressed involves the extent to which the Turkish economy has become immune to possible financial crises in the future in the light of the kinds of transformation experienced during the central era. A key hypothesis in this context is that Turkey continues to be vulnerable in spite of the fact that the banking sector is much more tightly regulated in line with the international norms during the post-crisis era.
