04675oam 22013214 450 991096111690332120250426110606.0978661284202397814623113921462311393978145271678714527167819781451871098145187109097812828420211282842021(CKB)3170000000055147(EBL)1608074(SSID)ssj0000943008(PQKBManifestationID)11584479(PQKBTitleCode)TC0000943008(PQKBWorkID)10994192(PQKB)11650401(OCoLC)460638707(MiAaPQ)EBC1608074(IMF)WPIEE2008251(IMF)WPIEA2008251WPIEA2008251(EXLCZ)99317000000005514720020129d2008 uf 0engurcnu||||||||txtccrPerspectives on High Real Interest Rates in Turkey /Prakash Kannan1st ed.Washington, 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.9781451915624 1451915624 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 BankingimfCapacityimfCapital and Ownership StructureimfCapitalimfDeflationimfExchange rate riskimfFinanceimfFinancial Risk and Risk ManagementimfFinancial risk managementimfFinancial services law & regulationimfFinancing PolicyimfGoodwillimfInflationimfIntangible CapitalimfInterest rate parityimfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfInvestmentimfInvestments: GeneralimfMacroeconomicsimfPrice LevelimfPricesimfReal interest ratesimfReturn on investmentimfSaving and investmentimfValue of FirmsimfTurkeyimfInterest ratesEconometric models.RiskEconometric models.Fiscal policyEconometric models.Banks and BankingCapacityCapital and Ownership StructureCapitalDeflationExchange rate riskFinanceFinancial Risk and Risk ManagementFinancial risk managementFinancial services law & regulationFinancing PolicyGoodwillInflationIntangible CapitalInterest rate parityInterest ratesInterest Rates: Determination, Term Structure, and EffectsInvestmentInvestments: GeneralMacroeconomicsPrice LevelPricesReal interest ratesReturn on investmentSaving and investmentValue of Firms332.82Kannan Prakash1800219DcWaIMFBOOK9910961116903321Perspectives on High Real Interest Rates in Turkey4371064UNINA