The making of the Turkish financial crisis

被引:124
作者
Akyüz, Y [1 ]
Boratav, K
机构
[1] UN Conf Trade & Dev, Div Globalizat & Dev Strategies, CH-1211 Geneva, Switzerland
[2] Ankara Univ, TR-06100 Ankara, Turkey
关键词
financial crisis; emerging markets; Turkey;
D O I
10.1016/S0305-750X(03)00108-6
中图分类号
F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];
学科分类号
0201 ; 020105 ; 03 ; 0303 ;
摘要
At the turn of the century the Turkish economy was in need of an urgent stabilization in order to halt a treacherous process of inflation, unsustainable public debt accumulation, and increasing financial fragility, resulting from irresponsible policies and lack of fiscal discipline that had been endemic since the early 1980s. The stabilization program launched with support from the IMF has, however, failed to deliver its promises, plunging the economy into an unprecedented recession, largely because of serious. shortcomings in its design as well as in crisis intervention which appears to have drawn no useful lessons from recent crises in emerging markets. (C) 2003 Elsevier Ltd. All rights reserved.
引用
收藏
页码:1549 / 1566
页数:18
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