PROGRESS OF CENTRAL BANK OF THE REPUBLIC OF TURKEY (CBRT): NOVEMBER 2000 AND FEBRUARY 2001 CRISIS

Gokhan Korkmazer
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Gokhan Korkmazer: Dumlupınar Universitesi

Ekonomi Maliye Isletme Dergisi, 2018, vol. 1, issue 2, 79-92

Abstract: In this study, crisis period between 1994 and 2001 are analysed within CBRT framework. Undoubtedly, 2001 was a turning point for development of CBRT. After November 2000 and February 2001 crisis, two phased “Transition to Strong Economy Program” was announced. Main objective of this program was to eliminate economic instability without further repetition and providing the necessary ground to structure economy. Another development that supported these objectives was legal restructuring of CBRT and on 25 April 2001, various amendments were accepted under Law No. 4651 for independence. As a result of these amendments, CBRT was the single authority to set and apply money policy. Main objective of CBRT was defined as price stability.

Keywords: The Central Bank of the Republic of Turkey; 2001 Crisis; Transition to Strong Economy Program (search for similar items in EconPapers)
JEL-codes: A10 A11 A12 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:gnx:emid43:2018-1-2-543153

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