Feridun, Mete (2008) Currency crises in emerging markets: The case of post-liberalization Turkey. The Developing Economies, 46 (4). pp. 386-427. ISSN 1746-1049 (doi:https://doi.org/10.1111/j.1746-1049.2008.00071.x)

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Abstract

This article investigates the determinants of currency crises in Turkey. It analyzes the two major currency crises of 1994 and 2000–2001 in the light of the existing theoretical models. The present study uses logit, probit, and limited dependent models to explain the currency crises in the post–capital account liberalization era. The results obtained from the three approaches are generally consistent and the coefficients obtained for the explanatory variables generally have the same sign. The findings suggest that the currency crises in Turkey are associated with global liquidity conditions, fiscal imbalances, capital outflows, and banking sector weaknesses.

Item Type:	Article
Additional Information:	[1] Journal of Institute of Developing Economies
Uncontrolled Keywords:	currency crises, logit, probit, limited dependent models, Turkey
Subjects:	H Social Sciences > HB Economic Theory
Faculty / School / Research Centre / Research Group:	Faculty of Business > Department of International Business & Economics Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC)
Related URLs:	Publisher Organisation
Last Modified:	04 Aug 2021 16:32
URI:	http://gala.gre.ac.uk/id/eprint/7922

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