Many low-income countries (LICs) continue to slip further behind the rest of the world. Meanwhile,…
IMF Program in Turkey Erinc Yeldan
The Turkish crisis, which came in the aftermath of an exchange rate-based disinflation attempt, comes as no surprise to anyone who is somewhat-informed about the international literature on country experiences of macroeconomic stabilization. In fact, the observed growth-crisis path of the Turkish economy is well in line with the main empirical regularities associated with exchange rate-based disinflation.
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