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Logbook of the Turkish Economy: Reassuring Flow of Credit to Return to Growth

dc.contributor.authorBurak Dalgin
dc.contributor.authorGüven Sak
dc.date.accessioned2019-05-08T15:34:20Z
dc.date.available2019-05-08T15:34:20Z
dc.date.issued2019-04-30
dc.identifier.urihttp://hdl.handle.net/11540/10016
dc.description.abstractOver the past decades, Turkish economic growth was fueled by availability of credit. A potential credit starvation poses a significant risk for the private sector, which has been the main beneficiary of the last decade. In order to avoid a long recovery, which is typical for recessions accompanied by debt overhangs, Turkey needs to have banks resume lending. This doesn't seem possible given the at-limit sources and unattractive profitability of the banking sector. Therefore, troubled assets on bank balance sheets need to be cleared with timely and competent action. Naturally, this could work only if accompanied with a rational, predictable and market-friendly macroeconomic framework and certain regulatory/ judiciary support. The public-private partnership approach to deal with distressed assets advocated in this paper would (i) support private sector (employment, commercial capacity, value chains around certain firms) while improving its competitiveness (elimination of zombies, creating at scale firms); (ii) enable banking system to resume lending thanks to released capital; (iii) use taxpayer funds effectively through an independent, transparent and performance-oriented vehicle; (iv) mobilize foreign funding resources; and (v) send a strong positive signal to the broader market. Enough experience on distressed asset relief programs has been accumulated by EBRD and IFC in the aftermath of the global crisis.
dc.languageEnglish
dc.publisherEconomic Policy Research Foundation of Turkey
dc.titleLogbook of the Turkish Economy: Reassuring Flow of Credit to Return to Growth
dc.typeReports
dc.subject.expertEconomic Development
dc.subject.expertEconomic Infrastructure
dc.subject.expertEconomic Policies
dc.subject.expertRegional Economic Development
dc.subject.expertMicrofinance Programs
dc.subject.expertPublic Finance
dc.subject.expertLocal Financing
dc.subject.expertFinancial Stability
dc.subject.expertFinancial Sector Regulation
dc.subject.expertPublic Financial Management
dc.subject.expertFinancial System
dc.subject.expertFinancial Statistics
dc.subject.expertForeign and Domestic Financing
dc.subject.expertFinancial Inclusion
dc.subject.adbEnterprises
dc.subject.adbFinancial aid
dc.subject.adbEconomies in transition
dc.subject.adbLocal Finance
dc.subject.adbLocal Government
dc.subject.adbInsurance Companies
dc.subject.adbBanks
dc.subject.adbSocial Equity
dc.subject.adbPension Funds
dc.subject.adbMutual Funds
dc.subject.adbFinancial Aspects
dc.subject.adbFiscal Policy
dc.subject.naturalSocial responsibility of business
dc.subject.naturalAccounting
dc.subject.naturalPersonal budgets
dc.subject.naturalCost and standard of living
dc.subject.naturalBank accounts
dc.subject.naturalCredit control
dc.subject.naturalRegulatory reform
dc.subject.naturalBanks and banking
dc.subject.naturalDigital Financial Service
dc.subject.naturalPension plans
dc.subject.naturalIndividual retirement accounts
dc.subject.naturalEmployee pension trusts
dc.subject.naturalInvestment management
dc.subject.naturalInvestments
dc.subject.naturalMultiemployer pension plans
dc.subject.naturalKeogh plans
dc.subject.naturalIndividual retirement accounts
dc.subject.naturalPension plans
dc.subject.naturalEmployee pension trusts
dc.subject.naturalPension trusts
dc.subject.naturalInvestment companies
dc.subject.naturalInternational banks and banking
dc.subject.naturalStock exchanges
dc.contributor.imprintEconomic Policy Research Foundation of Turkey
oar.themeEconomics
oar.themeFinance
oar.adminregionAsia and the Pacific Region
oar.countryBangladesh
oar.countryBhutan
oar.countryIndia
oar.countryMaldives
oar.countryNepal
oar.countrySri Lanka
oar.countryBrunei Darussalam
oar.countryCambodia
oar.countryIndonesia
oar.countryLao People's Democratic
oar.countryMalaysia
oar.countryMyanmar
oar.countryPhilippines
oar.countrySingapore
oar.countryThailand
oar.countryViet Nam
oar.countryCook Islands
oar.countryFiji Islands
oar.countryKiribati
oar.countryMarshall Islands
oar.countryFederated States of Micronesia
oar.countryNauru
oar.countryPalau
oar.countryPapua New Guinea
oar.countrySamoa
oar.countrySolomon Islands
oar.countryTimor-Leste
oar.countryTonga
oar.countryTuvalu
oar.countryVanuatu
oar.countryAfghanistan
oar.countryArmenia
oar.countryAzerbaijan
oar.countryGeorgia
oar.countryKazakhstan
oar.countryKyrgyz Republic
oar.countryPakistan
oar.countryTajikistan
oar.countryTurkmenistan
oar.countryUzbekistan
oar.countryPeople's Republic of China
oar.countryHong Kong
oar.countryChina
oar.countryRepublic of Korea
oar.countryMongolia
oar.countryTaipei,China
oar.identifierOAR-009587
oar.authorDalgin, Burak
oar.authorSak, Güven
oar.importTRUE
oar.googlescholar.linkpresenttrue


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