The effects of exchange rate risk on economic performance: the Turkish experience

Hakan Berument A · N. Nergiz Dinçer

24 citations0/0 files storedApplied Economics

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Abstract

This study examines the effects of real exchange rate risk on the economic performance for an emerging, small open economy: Turkey. When the ratios of the total foreign exchange liabilities of the Central Bank of the Republic of Turkey (CBRT) to: (1) total reserves; (2) the CBRT's reserves; and (3) the CBRT's total Turkish lira liabilities are taken proxy of exchange rate risk, the empirical evidence suggests that the increase in exchange rate risk causes a depreciation in the real exchange rate, an increase in prices and a decrease in output.

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2001The impact of terms of trade and real exchange rate volatility on investment and growth in sub-Saharan Africa 1995The identification of monetary policy disturbances explaining the liquidity puzzle 2000Output and the real exchange rate in developing countries: an application to Mexico 1996Disagreement as a Measure of Uncertainty 2003Board of Governors of the Federal Reserve System 2003EFFECTS OF THE REAL EXCHANGE RATE ON OUTPUT AND INFLATION: EVIDENCE FROM TURKEY 2009Development Macroeconomics 1999Development macroeconomics. 2nd. ed.

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