02602nam 2200637 450 991046425850332120181115205411.01-4623-1139-31-4527-1678-197866128420231-4518-7109-01-282-84202-1(CKB)3170000000055147(EBL)1608074(SSID)ssj0000943008(PQKBManifestationID)11584479(PQKBTitleCode)TC0000943008(PQKBWorkID)10994192(PQKB)11650401(OCoLC)460638707(MiAaPQ)EBC1608074(EXLCZ)99317000000005514720140226h20082008 uy 0engurcnu||||||||txtccrPerspectives on high real interest rates in Turkey /Prakash Kannan ; authorized for distribution by Graeme Justice[Washington, District of Columbia] :International Monetary Fund,2008.©20081 online resource (33 p.)IMF Working PapersIMF working paper ;WP/08/251Description based upon print version of record.1-4519-1562-4 Includes bibliographical references.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 interestIMF Working PapersInterest ratesTurkeyEconometric modelsRiskTurkeyEconometric modelsFiscal policyTurkeyEconometric modelsElectronic books.Interest ratesEconometric models.RiskEconometric models.Fiscal policyEconometric models.332.82Kannan Prakash876248Justice Graeme941361MiAaPQMiAaPQMiAaPQBOOK9910464258503321Perspectives on high real interest rates in Turkey2123263UNINA