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Capital Flows and Exchange Rates in Turkey: The Effects of Liberalization and Stabilization

By Mahmut Kalkan


The aim of this paper is to analyze the effects of capital flows on exchange rates in liberalization and stabilization framework. To this end, theoretical framework of Obstfeld (1984) is adopted and discussed. Turkish case of capital account liberalization and various stabilization programs and their effects on exchange rates is historically presented and the effects of capital flows between 1989-2001 period i

Year: 2002
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