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Economic Policy Uncertainty In Turkey
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Book Synopsis Economic Policy Uncertainty in Turkey by : La-Bhus Fah Jirasavetakul
Download or read book Economic Policy Uncertainty in Turkey written by La-Bhus Fah Jirasavetakul and published by International Monetary Fund. This book was released on 2018-12-10 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uncertainty over economic policy plays a key role in economic outcomes. But evidence and quantification for emerging markets are elusive because of measurement and reverse causality issues. In this paper, we construct a news-based economic policy uncertainty (EPU) index for Turkey and assess how it affects Turkish firms. To disentangle the issues of endogeneity and reverse causality, we use a difference-in-differences approach, exploiting the fact that firms with a high share of irreversible investment are more exposed to policy uncertainty. In sectors with large irreversible investment EPU has a greater effect on growth, investment, and leverage. The results are robust to different definitions of investment irreversibility, lag structure, and selection of sectors.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451837984 Total Pages :180 pages Book Rating :4.4/5 (518 download)
Book Synopsis Turkey by : International Monetary Fund
Download or read book Turkey written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-12-03 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews economic developments in Turkey during 1992–96. The Turkish economy rebounded in 1995, with real gross national product rising by 8.1 percent, reversing the decline of 6.1 percent in 1994. A strong pickup in activity in the second and third quarters of 1995 more than compensated for the continued weakness in the first quarter and a slight decline in the fourth quarter caused by uncertainty in the run-up to the elections. Industry performed strongly, with a growth rate of 12.1 percent, followed by services (6.4 percent) and agriculture (2.6 percent).
Book Synopsis Policy Uncertainty in Japan by : Ms.Elif C Arbatli
Download or read book Policy Uncertainty in Japan written by Ms.Elif C Arbatli and published by International Monetary Fund. This book was released on 2017-05-30 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach of Baker, Bloom and Davis (2016). Each index reflects the frequency of newspaper articles that contain certain terms pertaining to the economy, policy matters and uncertainty. Our overall EPU index co-varies positively with implied volatilities for Japanese equities, exchange rates and interest rates and with a survey-based measure of political uncertainty. The EPU index rises around contested national elections and major leadership transitions in Japan, during the Asian Financial Crisis and in reaction to the Lehman Brothers failure, U.S. debt downgrade in 2011, Brexit referendum, and Japan’s recent decision to defer a consumption tax hike. Our uncertainty indices for fiscal, monetary, trade and exchange rate policy co-vary positively but also display distinct dynamics. VAR models imply that upward EPU innovations foreshadow deteriorations in Japan’s macroeconomic performance, as reflected by impulse response functions for investment, employment and output. Our study adds to evidence that credible policy plans and strong policy frameworks can favorably influence macroeconomic performance by, in part, reducing policy uncertainty.
Book Synopsis A New Method to Measure Economic and Financial Uncertainty in Turkey by : Mehmet Huseyin Bilgin
Download or read book A New Method to Measure Economic and Financial Uncertainty in Turkey written by Mehmet Huseyin Bilgin and published by . This book was released on 2019 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to measure the level of economic and financial uncertainty in Turkey. More specifically, it constructs a search-based 'Turkish Economic and Financial Uncertainty Index' (TEFUI) and employs the real-time monthly Google Trends data to cover the period from January 2004 to December 2018. The paper considers more than four hundred potential words to construct the TEFUI to generate the baseline TEFUI. The findings from both the correlation analysis and the Impulse-Response shocks of the Vector Autoregression models indicate that the TEFUI is significantly related to various indicators of the domestic economy and global uncertainty indices.
Book Synopsis Development and Foreign Policy in Turkey by : Mustafa Kutlay
Download or read book Development and Foreign Policy in Turkey written by Mustafa Kutlay and published by Springer Nature. This book was released on 2023-11-27 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book sketches an institutional political economy framework to discuss the interaction between development and foreign policy in the global South with reference to Turkey. The authors argue that although the developmental state framework has commonly been employed to explore domestic economic development processes without analytically focusing on the foreign policy dimension, developmental state institutions are highly relevant in the creation and pursuit of a development-oriented foreign policy at a time of growing uncertainty marred by geopolitical and geoeconomic tensions. The book develops a two-level ‘Regime Coherence Framework’ to account for the domestic and international dimensions of development-oriented foreign policy. The main argument posits that the development regime in Turkey and associated foreign policies lack coherence, due to weak institutional complementarities between economic governance, state-business relations, and financial statecraft at the domestic-external nexus.
Author :International Monetary Fund. European Dept. Publisher :International Monetary Fund ISBN 13 :148435320X Total Pages :82 pages Book Rating :4.4/5 (843 download)
Book Synopsis Turkey by : International Monetary Fund. European Dept.
Download or read book Turkey written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2018-04-30 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Growth rebounded sharply in 2017, helped by strong policy stimulus in the wake of the 2016 post-coup attempt slump and by favorable external conditions. Although expansionary policies were initially warranted, they are no longer appropriate as the economy is showing clear signs of overheating. Monetary policy appears too loose and its credibility is low; and on- and off-budget fiscal policies (including credit guarantee schemes and PPP activities) are expansionary and risk undermining Turkey’s hard-earned fiscal credibility. As a result, the economy faces internal and external imbalances: a positive output gap, inflation well above target, and a current account deficit of more than 5 percent of GDP. Meanwhile, political uncertainty and regional instability remain elevated, and the integration of the many refugees poses challenges.
Book Synopsis Neoliberal Turkey and its Discontents by : Fikret Adaman
Download or read book Neoliberal Turkey and its Discontents written by Fikret Adaman and published by Bloomsbury Publishing. This book was released on 2017-05-30 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 'neoliberal' economic policy of President Recep Tayyip Erdogan's AKP Party, which has delivered extraordinary growth in Turkish GDP over the last decade, has been one of the foundations of the party's popular appeal. Here, a group of experts on Turkish political economy show how these policies have also had a detrimental impact on the environment, sustainability and the long-term health of the Turkish economy. Taking the two main sectors of growth during the past decade-energy and construction-as its primary focus, the book engages broadly with the political economy of inequality and sustainability in contemporary Turkey. Ultimately, the authors argue that 'environmental conflicts' in Turkey are not merely about the environment but intersect with contemporary politics of religion, ethnicity, gender, and class within the context of top-down, modernising economic development. Neoliberal Turkey and its Discontents marks an important contribution to debates around the economic growth of Turkey and the future of the AKP's long-term economic plan.
Book Synopsis Turkish Economy At The Crossroads: Facing The Challenges Ahead by : Asaf Savas Akat
Download or read book Turkish Economy At The Crossroads: Facing The Challenges Ahead written by Asaf Savas Akat and published by World Scientific. This book was released on 2020-10-05 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Turkish Economy at the Crossroads: Facing the Challenges Ahead is an exciting new volume of articles from prominent experts, edited by two distinguished economists. Despite its international stature and its diversified open-market economy, the global literature on Turkey is dispersed and sparse. The book aims to remedy this shortcoming by providing readers interested in Turkey with a balanced and up-to-date overview of the economy.Topics discussed include trends in long-term political economy, post-2001 macroeconomic policies, tradable and non-tradable sectors and their impact on income distribution, capital flows and financial imbalances, success and problems of structural transformation at the micro level, characteristics of the labor markets with special emphasis on female employment, Turkey's long lasting but difficult relations with the European Union and possible scenarios for the near future. This unified approach permits to highlight and tackle effectively the challenges and risks Turkey faces in the final and critical stage of transition to a modern developed society.
Book Synopsis Turkish Foreign Policy in an Age of Uncertainty by : F. Stephen Larrabee
Download or read book Turkish Foreign Policy in an Age of Uncertainty written by F. Stephen Larrabee and published by Rand Corporation. This book was released on 2003-01-14 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors describe the challenges and opportunities facing Turkey in the international environment during a time of extraordinary flux. Special emphasis is given to the strategic and security issues facing Turkey, including a number of new issues posed by the terrorist attacks of September 2001 and the subsequent international response. They conclude by offering some prognostications regarding the country's future and their implications on Turkey's western partners.
Author :Harvard University, Cambridge, MA, USA John F. Kennedy School of Government Publisher :Springer ISBN 13 :1349112747 Total Pages :289 pages Book Rating :4.3/5 (491 download)
Book Synopsis The Political Economy of Turkey by : Harvard University, Cambridge, MA, USA John F. Kennedy School of Government
Download or read book The Political Economy of Turkey written by Harvard University, Cambridge, MA, USA John F. Kennedy School of Government and published by Springer. This book was released on 1990-06-18 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Turkey stands at a crossroad after a decade of adjustment to its severe debt crisis in the late 1970s. This volume brings together a group of contributors who discuss the consequences of this transition and the likely pains for the future.
Book Synopsis The Turkish Economy by : Sumru Altug
Download or read book The Turkish Economy written by Sumru Altug and published by Psychology Press. This book was released on 2006 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Including contributions from noted international scholars, this collection of papers provides a strong theoretical and empirical underpinning for the discussion of major public policy issues facing Turkey today. Matters addressed include:- determinants of growth and productivity- education and human capital accumulation- income inequality- corporate control and government- performance of the government sector- impact of major public policy issues on the future growth prospects of the Turkish economy.This volume relates the impact of major public policy issues on the future growth prospects of the Turkish economy. At a time when Turkey is currently attempting to gain membership to the European Union, this pertinent reference questions whether the country's economy is in fact ready for EU accession and membership.
Book Synopsis Tracing the Economic Transformation of Turkey from the 1920s to EU Accession by : Tevfik Nas
Download or read book Tracing the Economic Transformation of Turkey from the 1920s to EU Accession written by Tevfik Nas and published by BRILL. This book was released on 2008-06-30 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the economic transformation of Turkey, a nation that has risen from bare subsistence in the early 1920s to a thriving market economy as it approaches its EU destination. It reviews the liberal period of the 1920s, highlights Turkey’s inward-looking economic and policy environments that prevailed for more than four decades, and provides an in-depth look at the stabilization and restructuring efforts since the 1980s, focusing on the legislative and political reforms implemented to comply with the terms of entry into the EU. This is a timely title that will be of great interest to policy makers, academics, and the general public, and is a valuable reference for students and scholars of international economics, macroeconomics, and public policy.
Book Synopsis Alternative Economic Indicators by : C. James Hueng
Download or read book Alternative Economic Indicators written by C. James Hueng and published by W.E. Upjohn Institute. This book was released on 2020-09-08 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers and business practitioners are eager to gain access to reliable information on the state of the economy for timely decision making. More so now than ever. Traditional economic indicators have been criticized for delayed reporting, out-of-date methodology, and neglecting some aspects of the economy. Recent advances in economic theory, econometrics, and information technology have fueled research in building broader, more accurate, and higher-frequency economic indicators. This volume contains contributions from a group of prominent economists who address alternative economic indicators, including indicators in the financial market, indicators for business cycles, and indicators of economic uncertainty.
Book Synopsis Fear Thy Neighbor: Spillovers from Economic Policy Uncertainty by : Nina Biljanovska
Download or read book Fear Thy Neighbor: Spillovers from Economic Policy Uncertainty written by Nina Biljanovska and published by International Monetary Fund. This book was released on 2017-11-15 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: High levels of economic policy uncertainty in various parts of the world revamped the de- bate about its impact on economic activity. With increasingly stronger economic, financial, and political ties among countries, economic agents have more reasons to be vigilant of for- eign economic policy. Employing heterogeneous panel structural vector autoregressions, this paper tests for spillovers from economic policy uncertainty on other countries' economic ac- tivity. Furthermore, using local projections, the paper zooms in on shocks originating in the United States, Europe, and China. Our results suggest that economic policy uncertainty re- duces growth in real output, private consumption, and private investment, and that spillovers from abroad account for about two-thirds of the negative effect. Moreover, uncertainty in the United States, Europe, and China reduces economic activity in the rest of the world, with the effects being mostly felt in Europe and the Western Hemisphere.
Book Synopsis Political Economy of Development in Turkey by : Emre Özçelik
Download or read book Political Economy of Development in Turkey written by Emre Özçelik and published by Palgrave Macmillan. This book was released on 2022-03-20 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adopting a political-economy perspective, this book is an original collection of research chapters that focus on Turkey’s economic-development experience from the nineteenth century to the present. It provides a systematic and chronological examination of Turkey’s major historical dynamics in the economic and socio-political spheres. The chapters are organized according to the consecutive phases of Turkey’s political-economic development. Each chapter not only reflects on the country-specific aspects of those development phases, but also clarifies the dependence of domestic-policy orientations on the dynamics of the world economy. As such, the book provides a historically-conscious, political-economic account of Turkey’s dependent-development experience. The book serves as a quality reference on the political economy of modern Turkey, bringing together fourteen prominent experts as contributing authors who have devoted their intellectual lives to the understanding and explanation of political-economic dynamics in both Turkey and the world. All contributors write on a historical period of the Turkish economy in which they are most specialized. This aspect of the book is a momentous advantage in the field of Turkey's political economy, enabling the highest degree of academic expertise to concentrate in each chapter.
Book Synopsis Turkey in the Global Economy by : Bülent Gökay
Download or read book Turkey in the Global Economy written by Bülent Gökay and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Since the late 1990s Turkey has emerged as a significant economic power. Never colonized and straddling the continents of Europe and Asia, it plays a strategically important role in an increasingly unstable region. Bülent Gökay examines Turkey's remarkable political and economic transformation within the context of broader regional and global changes. By situating the story of Turkey's economic growth within an analysis of the structural changes and shifts in the world economy since the end of the Cold War, the book provides new insights into the functioning of Turkey's political economy and the successes and failures of its ruling party's economic management." 4ème de couv.
Book Synopsis Monetary Policy and Interest Rates by : Riccardo Rovelli
Download or read book Monetary Policy and Interest Rates written by Riccardo Rovelli and published by Palgrave Macmillan. This book was released on 1998-09-14 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative examination for top international policymakers and academics conducting monetary policy arising from a conference organised by the Banca d'Italia. The yield curve - the relation among market interest rates of different maturities - is a key benchmark for evaluating investment strategies in the global financial market. To a growing extent, central banks use it to evaluate, explain to the public and monitor the results of policy decisions.
