Output, the Real Exchange Rate, and the Crises in Turkey

Oya Ardic

MPRA Paper from University Library of Munich, Germany

Abstract: Since the 1980s, most emerging economies have experienced economic crises associated with large, prolonged current account deficits and real exchange rate misalignment. Eventually these governments ended up devaluing national currencies. Empirical evidence from developing countries suggests that devaluation, in most cases, have been contractionary due to demand-side and supply-side effects. This paper studies the Turkish experience since the 1980s, and based on the results of a VAR analysis, finds that devauations were indeed contractionary.

Keywords: Turkey; real exchange rate; crisis; contractionary devaluations (search for similar items in EconPapers)
JEL-codes: C32 F31 F32 (search for similar items in EconPapers)
Date: 2006-01-29
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Citations: View citations in EconPapers (1)

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Related works:
Working Paper: Output, the Real Exchange Rate and the Crises in Turkey (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:6099

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