04456oam 22012254 450 991078834270332120230721045610.01-4623-1139-31-4527-1678-197866128420231-4518-7109-01-282-84202-1(CKB)3170000000055147(EBL)1608074(SSID)ssj0000943008(PQKBManifestationID)11584479(PQKBTitleCode)TC0000943008(PQKBWorkID)10994192(PQKB)11650401(OCoLC)460638707(MiAaPQ)EBC1608074(IMF)WPIEE2008251(EXLCZ)99317000000005514720020129d2008 uf 0engurcnu||||||||txtccrPerspectives on High Real Interest Rates in Turkey /Prakash KannanWashington, D.C. :International Monetary Fund,2008.1 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 interest rates in Turkey.IMF Working Papers; Working Paper ;No. 2008/251Interest ratesTurkeyEconometric modelsRiskTurkeyEconometric modelsFiscal policyTurkeyEconometric modelsBanks and BankingimfInflationimfInvestments: GeneralimfInterest Rates: Determination, Term Structure, and EffectsimfInvestmentimfCapitalimfIntangible CapitalimfCapacityimfPrice LevelimfDeflationimfFinancing PolicyimfFinancial Risk and Risk ManagementimfCapital and Ownership StructureimfValue of FirmsimfGoodwillimfFinanceimfMacroeconomicsimfFinancial services law & regulationimfReal interest ratesimfReturn on investmentimfInterest rate parityimfExchange rate riskimfInterest ratesimfSaving and investmentimfPricesimfFinancial risk managementimfTurkeyimfInterest ratesEconometric models.RiskEconometric models.Fiscal policyEconometric models.Banks and BankingInflationInvestments: GeneralInterest Rates: Determination, Term Structure, and EffectsInvestmentCapitalIntangible CapitalCapacityPrice LevelDeflationFinancing PolicyFinancial Risk and Risk ManagementCapital and Ownership StructureValue of FirmsGoodwillFinanceMacroeconomicsFinancial services law & regulationReal interest ratesReturn on investmentInterest rate parityExchange rate riskInterest ratesSaving and investmentPricesFinancial risk management332.82Kannan Prakash1493479DcWaIMFBOOK9910788342703321Perspectives on High Real Interest Rates in Turkey3716478UNINA