Failure of an exchange-rate-based stabilization plan in Turkey

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dc.contributor.authorGökkent, Giyasen_US
dc.contributor.authorMoslares, Carlosen_US
dc.contributor.authorAmiel-Saenz, Rafaelen_US
dc.date.accessioned2015-01-15T22:59:59Z
dc.date.available2015-01-15T22:59:59Z
dc.date.issued2003-02
dc.departmentIşık Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İşletme Bölümüen_US
dc.departmentIşık University, Faculty of Economics and Administrative Sciences, Department of Managementen_US
dc.description.abstractThe Turkish exchange-rate-based stabilization plan adopted in 2000 has been a spectacular failure, lasting a mere fourteen months despite a relatively flexible peg regime and preannounced exit strategy. The final three months of the currency regime were marred by the eruption of a banking sector crisis that quickly developed into a currency crisis, quelled only by external loans and a blanket guarantee by the sovereign of all banking sector liabilities. This was ultimately to no avail as the lira was allowed to float following a full-fledged currency crisis in late February 2001. The usual indicators of crisis did not point to imminent turmoil in November 2000 despite widespread concern about eventual dire developments. To identify the source of the November crisis, one must weigh the factors that led economic agents, and banks in particular, to expect higher interest rates after the fall.en_US
dc.description.versionPublisher's Versionen_US
dc.identifier.citationGökkent, G., Moslares, C., & Amiel-Saenz, R. (2003). Failure of an exchange-rate-based stabilization plan in turkey. Eastern European Economics, 41(1), 35-67. doi:10.1080/00128775.2003.11041040en_US
dc.identifier.doi10.1080/00128775.2003.11041040
dc.identifier.endpage67
dc.identifier.issn0012-8775
dc.identifier.issn1557-9298
dc.identifier.issue1
dc.identifier.scopus2-s2.0-0037628772
dc.identifier.scopusqualityQ3
dc.identifier.startpage35
dc.identifier.urihttps://hdl.handle.net/11729/138
dc.identifier.urihttps://doi.org/10.1080/00128775.2003.11041040
dc.identifier.volume41
dc.identifier.wosWOS:000181480100003
dc.identifier.wosqualityQ4
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.indekslendigikaynakSocial Sciences Citation Index (SSCI)en_US
dc.institutionauthorGökkent, Giyasen_US
dc.language.isoenen_US
dc.peerreviewedYesen_US
dc.publicationstatusPublisheden_US
dc.publisherM E Sharpeen_US
dc.relation.ispartofEastern European Economicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectBankingen_US
dc.subjectCurrency marketen_US
dc.subjectExchange rateen_US
dc.subjectFinancial crisisen_US
dc.subjectInterest rateen_US
dc.titleFailure of an exchange-rate-based stabilization plan in Turkeyen_US
dc.typeArticleen_US
dspace.entity.typePublication

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