Financial liberalization and fiscal repression in Turkey: Policy analysis in a CGE model with financial markets
Journal of Policy Modeling
Yeldan, A. E. (1997). Financial liberalization and fiscal repression in Turkey: Policy analysis in a CGE model with financial markets. Journal of Policy Modeling, 19(1), 79-117.
Please cite this item using this persistent URLhttp://hdl.handle.net/11693/13615
The effects of recent Turkish financial liberalization reforms on the real economy are investigated with the aid of a computable general equilibrium model that incorporates financial markets. The model is used for conducting counterfactual and comparative static simulation experiments to analyze three sets of issues: (1) the real side effects of the government's mode of financing its fiscal deficit through debt instruments or monetization; (2) the effects of deregulation of the public debt instrument issuing rules on the financial markets; and (3) the domestic implications of the continued external debt servicing and the foreign exchange rate devaluations. (C) Society for Policy Modeling, 1997
- Department of Economics