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The Way Out: Global Turmoil and Policy Recommendations

Author

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  • Turhan, Ibrahim M.

Abstract

The world has been struggling with the economic and financial crisis for the last seven years and yet, in spite of all efforts several times we have so far witnessed hopes have been faded away. the level of financial integration of global markets, unprecedentedly high covariance between asset classes, interdependence of global systemically important financial institutions, and cross-border business models that has already created international or rather multinational companies and value chains aggravate the complexity of situation. Monetary policy being unsufficient to solve the problems, fiscal policy option deserves to be reconsidered. However the critical issue is the allocation of limited fiscal resources to promote growth in a sustainable way.

Suggested Citation

  • Turhan, Ibrahim M., 2015. "The Way Out: Global Turmoil and Policy Recommendations," MPRA Paper 66491, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:66491
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    More about this item

    Keywords

    Crisis; market volatility; fiscal policy;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • G0 - Financial Economics - - General
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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