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Record Nr. |
UNINA9910961116903321 |
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Autore |
Kannan Prakash |
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Titolo |
Perspectives on High Real Interest Rates in Turkey / / Prakash Kannan |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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9786612842023 |
9781462311392 |
1462311393 |
9781452716787 |
1452716781 |
9781451871098 |
1451871090 |
9781282842021 |
1282842021 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (33 p.) |
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Collana |
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IMF Working Papers |
IMF working paper ; ; WP/08/251 |
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Disciplina |
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Soggetti |
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Interest rates - Turkey - Econometric models |
Risk - Turkey - Econometric models |
Fiscal policy - Turkey - Econometric models |
Banks and Banking |
Capacity |
Capital and Ownership Structure |
Capital |
Deflation |
Exchange rate risk |
Finance |
Financial Risk and Risk Management |
Financial risk management |
Financial services law & regulation |
Financing Policy |
Goodwill |
Inflation |
Intangible Capital |
Interest rate parity |
Interest rates |
Interest Rates: Determination, Term Structure, and Effects |
Investment |
Investments: General |
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Macroeconomics |
Price Level |
Prices |
Real interest rates |
Return on investment |
Saving and investment |
Value of Firms |
Turkey |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Sommario/riassunto |
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The Turkish economy is typically characterized as having particularly high real interest rates. Fundamental considerations, such as high growth rates or high returns to capital, do not provide a satisfactory resolution of this puzzle. Instead, we find that two other factors- doubts about the sustainability of disinflation and the existence of a risk premium-have a significant impact on the level of real interest rates in Turkey. Importantly, fiscal policy variables are shown to affect both these factors, suggesting that a more credible and prudent fiscal policy can help reduce real interest rates in Turkey. |
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