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Turkey's Distressing Dance with Capital Flows

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  • Fatih Ozatay

Abstract

In the aftermath of the 2001 crisis, Turkey took important steps toward achieving macroeconomic and financial stability. Together with favorable international financial conditions, this helped to achieve a high per capita GDP growth. The high-growth period failed to be sustainable, however. From 2008 to 2013, Turkey had a volatile and low growth. In this article, I aim to analyze the underlying reasons of high volatility of growth and discuss short-term economic policy alternatives to mitigate such undesired fluctuations.
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  • Fatih Ozatay, 2013. "Turkey's Distressing Dance with Capital Flows," Working Papers 1306, TOBB University of Economics and Technology, Department of Economics, revised Oct 2013.
    • Handle: RePEc:tob:wpaper:1306
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    2. Huseyin Ozturk, 2020. "The shape of sovereign yield curve in an emerging economy: Do macroeconomic or external factors matter?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 47(1), pages 83-112, February.

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