Inflation and Disinflation in Turkey by Aykut Kibritcioglu

By Aykut Kibritcioglu

Because the Nineties Turkey has skilled a couple of failures, either actual and financial. the end result has been a lessen in financial functionality in comparison to different ecu states. This learn addresses the country's ongoing financial struggles.

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Similarly, the share of foreign currency denominated liabilities in total liabilities rose from 25% in 1988 to 48% in 1999. Short-term borrowing-based deficit financing policies of the governments increased the interest rates and encouraged short-term capital flows into the economy. The policy facilitated managing the public deficit and helped the central bank to build up its foreign currency reserves. These deficit financing and reserve accumulation policies led commercial banks to open short positions in foreign currencies.

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