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      The effects of exchange rate risk on economic performance: the Turkish experience

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      Author(s)
      Berument, Hakan
      Dincer, N. N.
      Date
      2004
      Source Title
      Applied Economics
      Print ISSN
      0003-6846
      Electronic ISSN
      1466-4283
      Publisher
      Routledge
      Volume
      36
      Issue
      21
      Pages
      2429 - 2441
      Language
      English
      Type
      Article
      Item Usage Stats
      289
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      316
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      Abstract
      This study examines the effects of real exchange rate risk on the economic performance for an emerging, small open economy: Turkey. When the ratios of the total foreign exchange liabilities of the Central Bank of the Republic of Turkey (CBRT) to: (1) total reserves; (2) the CBRT's reserves; and (3) the CBRT's total Turkish lira liabilities are taken proxy of exchange rate risk, the empirical evidence suggests that the increase in exchange rate risk causes a depreciation in the real exchange rate, an increase in prices and a decrease in output. © 2004 Taylor and Francis Ltd.
      Keywords
      Currency market
      Exchange rate
      National economy
      Performance assessment
      Real exchange rate
      Risk factor
      Eastern Hemisphere
      Eurasia
      Turkey
      World
      Permalink
      http://hdl.handle.net/11693/24152
      Published Version (Please cite this version)
      http://dx.doi.org/10.1080/0003684042000287637
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      • Department of Economics 697
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