Turkey's response to the global economic crisis

Ibrahim Turhan and Zubeyir Kilinc ()

MPRA Paper from University Library of Munich, Germany

Abstract: Turkey was not affected by the financial crisis as much as the advanced economies and managed to rapidly exit the turmoil. The reasons behind the strong response and quick recovery of the Turkish economy were its low country risk and low currency risk premiums. This study shows the foundations of these low risk premiums and compares some measures of these risks of the Turkish economy with peer countries. Second, this paper demonstrates that all of Turkey’s economic sectors were very strong before the crisis and sustained this strength during the course of the crisis. Finally, it discusses the policies that have already been taken and planned to be taken by Turkey’s economic authorities. The government seems to be very determined in keeping fiscal discipline as tight as necessary while not being excessive

Keywords: financial crises; global economic crisis; Turkey; economic policies; financial markets (search for similar items in EconPapers)
JEL-codes: E58 E66 G01 G28 (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-ara, nep-cwa and nep-mac
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Citations: View citations in EconPapers (3)

Published in Insight Turkey 1.13(2011): pp. 37-45

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:31214

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