3. The Relationship Between Inflation and Growth In the economic literature, the relationship between the growth and inflation has been discussed in different ways with respect to the development stages of the world economy. According to the current view, there is a negative relationship between growth and inflation. This seems to be compatible with the [...]

2.  Macroeconomic Features and Prospects of Turkish Economy At first, I wish to emphasize that in emerging market economies, risks and returns mainly depend on two factors.  These are the fundamentals, and the external environment.  Sound macroeconomic policies, a healthy banking sector, and transparency in governance are the basis for sound fundamentals, which of course [...]

1. GLOBALIZATION AND LIBERALIZATION 1.1 Developments in the international financial environment The 1980s and 1990s witnessed significant changes in the international financial markets. With the advent of globalization and rapid integration of financial markets, the world we live in is getting smaller in every aspect of life. Nowadays, when international banking systems are experiencing significant [...]

As John Wilmot says, “Before I got married I had six theories about bringing up children; now I have six children and no theories.” INTRODUCTION Before we observed crisis in Latin America, South Asia and Russia, we had several theories about crisis in financial sectors. Now, we have several countries deeply affected from the crisis [...]