The Issue of Credibility and Accountability of the Central Bank of the Republic of Turkey Within the Framework of the Inflation Targeting Regime

Nadir Eroğlu and İlhan Eroğlu
Additional contact information
Nadir Eroğlu: Marmara University
İlhan Eroğlu: Gaziosmanpaşa University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2009, vol. 24, issue 85, 79-109

Abstract: In recent years, inflation targeting is turned into a regime of monetary policy that has been appealing frequently. The Central Bank of the Republic of Turkey (CBRT) has applied this regime with two stages from 2002, at first in the form of implicit then as open inflation targeting according to the suitable economical and social conditions of Turkey. During the implicit inflation targeting, reach- ing the inflation goals has increased the Republic of Turkey Central Bank’s credibility but from 2006, the inflation goals that can not be reached by moving to open inflation targeting has faced the Central Bank with the problem of credibility. This study includes an evalua- tion, in the framework of inflation targeting regime that the Central Bank’s credibility problem and accountability.

Keywords: Inflation; Inflation Targeting; Credibility; Accountability (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations:

Downloads: (external link)
https://dergipark.org.tr/tr/download/article-file/150773 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:24:y:2009:i:85:p:79-109

Access Statistics for this article

Journal of Finance Letters (Maliye ve Finans Yazıları) is currently edited by Süleyman Kale

More articles in Journal of Finance Letters (Maliye ve Finans Yazıları) from Maliye ve Finans Yazıları Yayıncılık Ltd. Şti.
Bibliographic data for series maintained by Süleyman Kale ().