Browsing by Subject "Financial liberalisation"
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Item Open Access Financial liberalisation: from segmented to integrated economies(Elsevier Inc., 2003) Taskin, F.; Muradoglu, G.Capital market liberalisation transforms segmented stock markets into integrated ones. Further impact should be expected on the dynamics of the rest of the domestic economy. This study presents evidence to that effect. A significant change after liberalisation is the emergence of world returns as an influential factor on other economic fundamentals. The information content of world returns influences emerging market returns prior to capital market liberalisation and this relation continues after capital market liberalisation. What is new after liberalisation is the influence of world returns on the dynamics of the domestic economy as a whole and its relation to stock returns. © 2003 Elsevier Inc. All rights reserved.Item Open Access The rural economy under structural adjustment and financial liberalization: results of a macro-integrated agricultural-sector model for Turkey(Routledge, 1996) Cakmak, Erol H.; Yeldan, A. Erinc; Zaim, OsmanThe Macro-Integrated Agricultural-Sector modeling approach is introduced to analyze the economic effects of the post-1980 Turkish structural adjustment reforms on the agricultural economy. The distinguishing feature of the model is its capability in addressing simultaneously the real and financial macro aggregates and the micro-sectoral detail of agriculture in a consistent fashion. The modeling analysis discloses that the Turkish mode of adjustment has typically relied on taxation of agricultural incomes, and suggests that an investment program based on reinvesting the rural surplus within the agricultural economy is a superior option.