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By Aykut Kibritcioglu

Because the Nineties Turkey has skilled a few failures, either actual and financial. the end result has been a lessen in monetary functionality in comparison to different ecu states. This research addresses the country's ongoing financial struggles.

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Starting from 1987, when the government slightly changed its exchange rate and debt policy, the relative share of non-deposit funds in total liabilities of private banks permanently increased and reached a peak in 1993. In other words, during this period, the Turkish private banks tried to substitute non-deposit funds for deposits. After 1987, the share of foreign currency denominated assets and liabilities of the banking sector started to increase. The share of foreign currency denominated assets in total assets rose from 26% in 1988 to 38% in 1999.

Furthermore, the government declared the new regulations about capital adequacy, loan-loss provisions and foreign exchange exposure limits. All these measures aim at providing the appropriate prudential requirements in line with international standards. In addition to these new regulatory efforts, the government undertook some measures to remove the distortions created by the state owned banks. Commercialization of Ziraat Bank, Halk Bank, and Emlak Bank, and eventually privatization of them tied up to a special action plan.

References Agénor, P. , C. J. McDermott and M. E. Uçer (1997). Fiscal Imbalances, Capital Inflows, the Real Exchange Rate: The Case of Turkey. IMF Working Paper, WP/97/01. Arıcanlı, T. and D. ) (1990). The Political Economy of Turkey: Debt Adjustment and Sustainability, New York: St. Martin’s Press. Berument, H. and K. Malatyalı (2000). The Implicit Reaction Function of the Central Bank of the Republic of Turkey. Applied Economics Letters, 7 (7): 425–30. Bruno, M. (1993). Crisis, Stabilization, and Economic Reform: Therapy by Consensus.

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