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Sequencing, pace and timing of financial liberalization process in Turkey with implications on the macroeconomic environment / Aytül Ganioğlu, Supervisor Prof. Dr. Fikret Şenses.

By: Ganioğlu, Aytül.
Contributor(s): Şenses, Fikret, 1947-.
Publisher: Ankara; , 2006Description: xxii, 372 leaves. 29 cm.Other title: Türkiye'de finansal serbestleşme politikalarının sıralaması, zamanlaması ve hızının makroekonomik ortam üzerine etkileri.Uniform titles: Thesis (Ph.D.) -- Graduate School of Social Sciences. Economics. Contained works: Middle East Technical University. Department of Economics. Thesis (Dissertation).Subject(s): Dissertations, Academic | Tezler, Akademik | Economics | EkonomiOnline resources: Access to full text Dissertation note: Thesis (Ph.D.) -- Middle East Technical University, 2006. Summary: This study basically analyzes timing, sequencing and pace of the financial liberalization experience of the Turkish economy in the 1980s and evaluates its implications for the crises in the Turkish economy since the 1990s. The objectives of this study are threefold: Firstly, it aims to reveal the main policy objectives and political factorspushing the government to take capital account liberalization decision in 1989. It is concluded that domestic decision makers have shaped and taken the decision of capital account liberalization in 1989, while the interaction of economic and political factors has played a major role in its timing. Secondly, it examines the extent to which economic and political institutional weaknesses in the Turkish economy, which generated inappropriate sequencing of financial liberalization policies in the 1980s, can be held responsible for the crises of 2000 and 2001 crises. It is concluded that financial liberalization policies were inappropriately sequenced, as domestic financial market and capital account liberalization were not accompanied or preceded bymacroeconomic stability and financial sector institutionalreforms such as prudential regulation and supervision of the banking sector. These factors have been instrumental in the crises episodes in Turkey through contributing to an environment conducive to crises. Thirdly, it aims to analyze whether there exists a clear association between weaknesses in the regulation and supervision of the banking sector and banking crises through an empirical analysis. It is concluded that the nature of the banking crises is more associated with the institutional structureof the financial system rather than macroeconomic conditions of the economy.
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Item type Current location Call number Vol info Copy number Status Notes Date due Barcode
Thesis Thesis Merkez Kütüphane
Tez Koleksiyonu / Thesis Collection
TEZ ODTU Ph.D'06 GAN (Browse shelf) 1 1 Ödünç Verilemez-Tez / Not For Loan-Thesis Tez TZ00012

Keywords : Financial Liberalization, Sequencing and Timingof Financial Liberalization, Prudential Regulation and Supervision of the Banking Sector

Thesis (Ph.D.) -- Middle East Technical University, 2006.

Includes bibliographical references

This study basically analyzes timing, sequencing and pace of the financial liberalization experience of the Turkish economy in the 1980s and evaluates its implications for the crises in the Turkish economy since the 1990s. The objectives of this study are threefold: Firstly, it aims to reveal the main policy objectives and political factorspushing the government to take capital account liberalization decision in 1989. It is concluded that domestic decision makers have shaped and taken the decision of capital account liberalization in 1989, while the interaction of economic and political factors has played a major role in its timing. Secondly, it examines the extent to which economic and political institutional weaknesses in the Turkish economy, which generated inappropriate sequencing of financial liberalization policies in the 1980s, can be held responsible for the crises of 2000 and 2001 crises. It is concluded that financial liberalization policies were inappropriately sequenced, as domestic financial market and capital account liberalization were not accompanied or preceded bymacroeconomic stability and financial sector institutionalreforms such as prudential regulation and supervision of the banking sector. These factors have been instrumental in the crises episodes in Turkey through contributing to an environment conducive to crises. Thirdly, it aims to analyze whether there exists a clear association between weaknesses in the regulation and supervision of the banking sector and banking crises through an empirical analysis. It is concluded that the nature of the banking crises is more associated with the institutional structureof the financial system rather than macroeconomic conditions of the economy.

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