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Capital Account Liberalization: The Case of Turkey

Published online by Cambridge University Press:  21 July 2015

Melike Altinkemer  and
Nazim K. Ekinci
Nazim K. Ekinci
Affiliation:
Central Bank, Republic of Turkey, Research Department; and Middle East Technical University, Department of Economics, and Central Bank, Republic of Turkey, Research Department
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Extract

After experiencing serious macroeconomic imbalances in the 1977-1980 period, fundamental policy changes were introduced in Turkey on January 24, 1980. The problems addressed were typical of a middle income country constrained by its balance of payments: inability to service foreign debt and inability to finance imports required for production, high inflation rates, and all other related macroeconomic imbalances. The reasons for the 1977-1980 crisis and subsequent developments, including post-1980 developments, have already been studied extensively by a number of researchers. We shall, therefore, refer the reader to the relevant literature (e.g. Celasun and Rodrik, 1989; Ekinci, 1990; Uygur, 1991) and concentrate on the narrower topic of external financial liberalization or capital account liberalization and the related topic of exchange rates which has attracted much less attention.

Type
Articles
Information
New Perspectives on Turkey , Volume 8 , fall 1992 , pp. 89 - 108
Copyright
Copyright © New Perspectives on Turkey 1992

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References

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