Turkey: Selected Issues

International Monetary Fund

No 2007/364, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper on Turkey reviews a decline in private saving and adoption of a fiscal rule. As economic confidence has improved, capital inflows have surged while private saving has fallen. Together, these developments have produced current account deficits and a strong lira, raising concerns that Turkey may be exposed to sudden reversals in investor sentiment. A fiscal rule with appropriate mechanisms to monitor its compliance should deliver predictable policies, thus allowing further reductions in debt and risk premiums, thereby contributing to macroeconomic stability.

Keywords: ISCR; CR; lending; fiscal policy; saving rate; monetary policy transmission mechanism; disciplined fiscal policy; bank lending channel; spending rule; chapter II; government debt ratio; Mortgages; Private savings; Bank credit; Housing prices; Fiscal rules; Europe (search for similar items in EconPapers)
Pages: 46
Date: 2007-11-16
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Citations: View citations in EconPapers (4)

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