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Yayın Failure of an exchange-rate-based stabilization plan in Turkey(M E Sharpe, 2003-02) Gökkent, Giyas; Moslares, Carlos; Amiel-Saenz, RafaelThe 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.Yayın Impact of COVID-19 on people-processing vs. information-processing services: case of food service and banking industries(Springer Nature, 2021) Gül, Mısra Çağla; Kaytaz, MehmetAlthough COVID-19 pandemic is a health crisis, it has and will continue to have serious repercussions on business activities and the global economy, as well as a strong societal impact. This chapter focuses on comparing and contrasting the banking services sector and the food service industry in Turkey in relation to how these industries were impacted by and responded to the crisis caused by COVID-19 pandemic. Banking services are information-processing services and the food service business for the most part is people-processing. The distinction is that informationprocessing services can be provided both face-to-face in a high-contact fashion, and online/through the phone in an untact fashion. People-processing services, however, are mostly high-contact services where the person receiving the service must be present when the service is provided (Lovelock in Journal of Marketing 47: 9–20, 1983). Naturally, this distinction creates a difference in the response of these two different types of services to the COVID-19 crisis. This chapter analyzes the economic and social developments during the COVID-19 outbreak in Turkey along with current and expected future action steps by the government and NGOs. Findings suggest that innovative products, market-linking capabilities and investment in digitalization and trust building activities are effective in dealing with the new normal.
