Is There an End to the Currency Crisis in Turkey?: An Empirical Investigation

Balaga Mohana Rao () and Suvvari Ananda Rao ()
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Balaga Mohana Rao: Indian Institute of Technology
Suvvari Ananda Rao: SRM University AP

A chapter in Studies in International Economics and Finance, 2022, pp 513-526 from Springer

Abstract: Abstract Our study investigates the currency crisis in Turkey for the period 2001Q1–2020Q4. In this paper, we construct an Exchange Market Pressure Index to identify the currency crisis and/or stress periods. After identifying the crisis periods, we use the binary logit model to find the determinants of the crisis in Turkey. The following periods have been identified as crisis periods: 2001Q1, 2001Q2, 2001Q3, 2001Q4, 2018Q3, 2020Q3 and 2020Q4. Our results suggest that rate, current account balance, openness, exports and inflation act as the determinants of the currency crisis in Turkey.

Keywords: Currency crisis; Exchange rate; Determinants of crisis; Turkey; F31; F37; G01 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-16-7062-6_25

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DOI: 10.1007/978-981-16-7062-6_25

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