Financial Reforms Stabilization And Development In 21st Century Turkey
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Financial Reforms Stabilization And Development In 21st Century Turkey
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Author : Haluk Haksal
language : en
Publisher: Vernon Press
Release Date : 2019-03-28
Financial Reforms Stabilization And Development In 21st Century Turkey written by Haluk Haksal and has been published by Vernon Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-28 with Business & Economics categories.
The central argument of this book is that while central bank independence can contribute to stabilization, inflation-targeting monetary policy is quite powerless in promoting economic development. The basic message is simple: Policy makers should not strive to achieve price stability at any cost, as stability in product markets does not necessarily translate into economic development. The recent experience of Turkey is illuminating and other developing countries, in particular those using inflation targeting monetary policy framework, can draw useful lessons from this experience. Early chapters summarize the deregulation process from 1980 to 2001. The Turkish Central Bank is placed at the center of the analysis as monetary policies have a significant impact both on stability and development. Although the 1994 and 2001 financial crises have been extensively studied elsewhere, they are nevertheless summarized to underscore the importance of central bank independence. Later chapters investigate the impact of an independent central bank on stabilization and development from 2001 onwards. Upon visiting the Turkish Central Bank's website, readers are greeted with the following statement: "The primary objective of the Bank is to achieve and maintain price stability." By the end of this book the reader should be able to assess the relative merits of a monetary policy that focuses on price stability, versus an alternative where price stability is accompanied by other objectives targeting development, for instance, monitoring also unemployment rates, which would undermine its independence to some degree. The study aims to provide a perspective on the need for such an alternative in line also with the vision of some international agencies on development, such as the UNCTAD and the ILO. This is the first book-length study examining the financial reforms Turkey undertook in its path towards EU accession. This unique work will be of interest to economists and other experts in financial history, (de)regulation, institutional economics and economic development, as well as a broad range of scholars interested in the dramatic transformation of Turkey's economy and society in the 21st century.
Economic History Of A Divided Europe
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Author : Ivan T. Berend
language : en
Publisher: Routledge
Release Date : 2020-02-28
Economic History Of A Divided Europe written by Ivan T. Berend and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-28 with Business & Economics categories.
This book presents the sharp regional diff erences within the integrating European continent. Four regions – Northwestern Europe, Southern Europe, Central Europe, and Eastern-Southeastern Europe – represent high, medium, and relatively less-developed levels of economic advancement. These disparities have emerged as a result of historical diff erences that produced and reinforced cultural and behavioral diff erences. The author examines the distinctions between the regions, looks at how these differences transpired and became so retrenched, and answers the question of why some countries were able to elevate to higher levels of economic development while others could not. This book is unique in that it provides a timely historical analysis of the main causes of the most pressing conflicts in Europe today. Readers will come away from this book with a deeper understanding of the sharp divergence in economic standing between the four different regions of Europe, as well as knowledge about how institutional corruption and other cultural features exacerbated these variations. The book also offers a better understanding of major European Union confl icts between member countries and between member and nonmember countries, as well as the rise of autocratic regimes in certain countries. The book begins with a short history of European integration throughout European civilization and then goes on to discuss the modern reality of integration and attempts to homogenize the Continent that divided into four different macro-regions. It will primarily appeal to scholars, researchers and students studying Europe from various fi elds, including economics, business, history, political science, and sociology, as well as a general readership interested in Europe’s past, present, and future.
Inflation And Disinflation In Turkey
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Author : Faruk Selcuk
language : en
Publisher: Routledge
Release Date : 2018-04-27
Inflation And Disinflation In Turkey written by Faruk Selcuk and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-27 with Social Science categories.
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.
Uneven Centuries
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Author : ?evket Pamuk
language : en
Publisher: Princeton University Press
Release Date : 2018-11-20
Uneven Centuries written by ?evket Pamuk and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-20 with Business & Economics categories.
The first comprehensive history of the Turkish economy The population and economy of the area within the present-day borders of Turkey has consistently been among the largest in the developing world, yet there has been no authoritative economic history of Turkey until now. In Uneven Centuries, Şevket Pamuk examines the economic growth and human development of Turkey over the past two hundred years. Taking a comparative global perspective, Pamuk investigates Turkey’s economic history through four periods: the open economy during the nineteenth-century Ottoman era, the transition from empire to nation-state that spanned the two world wars and the Great Depression, the continued protectionism and import-substituting industrialization after World War II, and the neoliberal policies and the opening of the economy after 1980. Making use of indices of GDP per capita, trade, wages, health, and education, Pamuk argues that Turkey’s long-term economic trends cannot be explained only by immediate causes such as economic policies, rates of investment, productivity growth, and structural change. Uneven Centuries offers a deeper analysis of the essential forces underlying Turkey’s development—its institutions and their evolution—to make better sense of the country’s unique history and to provide important insights into the patterns of growth in developing countries during the past two centuries.
Structural Reforms And Economic Performance In Advanced And Developing Countries
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Author : Mr.Jonathan David Ostry
language : en
Publisher: International Monetary Fund
Release Date : 2009-10-15
Structural Reforms And Economic Performance In Advanced And Developing Countries written by Mr.Jonathan David Ostry and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-15 with Business & Economics categories.
This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.
Structural Reforms And Macroeconomic Performance Country Cases
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-14
Structural Reforms And Macroeconomic Performance Country Cases written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-14 with Business & Economics categories.
As a companion piece to the Board paper on Structural Reforms and Macroeconomic Performance: Initial Considerations for the Fund, this paper presents a selection of case studies on the structural reform experiences of member countries. These papers update the Board on work since the Triennial Surveillance Review toward strengthening the Fund’s capacity to analyze and, where relevant, offer policy advice on macro-relevant structural issues. The paper builds on the already considerable analytical work underway across the Fund, setting out considerations to support a more strategic approach going forward.
Labor In Turkey
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Author : United States. Bureau of Labor Statistics
language : en
Publisher:
Release Date : 1959
Labor In Turkey written by United States. Bureau of Labor Statistics and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1959 with Labor categories.
Structural Reforms And Macroeconomic Performance Initial Considerations For The Fund
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-10-14
Structural Reforms And Macroeconomic Performance Initial Considerations For The Fund written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-10-14 with Business & Economics categories.
Structural policies have become a prominent feature of today’s macroeconomic policy discussion. For many countries, lackluster economic growth and high unemployment cloud the outlook. With fewer traditional policy options, policymakers are increasingly focused on the complementary role of structural policies in promoting more durable job-rich growth. In particular, the G20 has emphasized the essential role of structural reforms in ensuring strong, sustainable and balanced growth. Against this backdrop, the 2014 Triennial Surveillance Review (TSR) called for further work to enhance the Fund’s ability to selectively provide more expert analysis and advice on structural issues, particularly where there is broad interest among member countries. The purpose of this paper is to engage the Board on staff’s post-TSR work toward strengthening the Fund’s capacity to analyze and, where relevant, offer policy advice on macro-relevant structural issues.
Fiscal Policy And Long Term Growth
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-20
Fiscal Policy And Long Term Growth written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-20 with Business & Economics categories.
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Turkey
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2017-02-03
Turkey written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-03 with Business & Economics categories.
This report discusses the findings and recommendations made in the Financial Sector Assessment Program for Turkey in the area of financial system stability. The assessment identified some important priorities for further improvement in the policy framework and in implementation. Steps are recommended to raise the effectiveness of financial supervision, enhance governance arrangements, strengthen systemic risk identification and the coordination of macroprudential policies, lower systemic liquidity risks, and address current gaps in crisis management arrangements. A stronger role for the Financial Stability Committee would support more coordinated and effective systemic risk oversight and management.