The 2007 Financial Crisis and Monetary Policies: On the Monetary Policies's Failure

Tokucu, Erkan

doi:10.5455/ey.20044

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“…Also, Bozkurt & Göğül (2010) determine that if coordination were not provided between monetary and fiscal policies, then financial instability arises. While Tokucu (2010) state that monetary and fiscal policies should be adopted simultaneously and based on activists approach for getting rid of crisis, similarly (2014) conclude that decisions of monetary policy should be taken into consideration in fiscal policy implementation.…”

Section: Literature Reviewmentioning

confidence: 99%

The Importance of Harmonious Monetary and Fiscal Policies: An Examination upon Credit Interest Rate in Turkey

Kartal¹

2019

Ekonomi İşletme Ve Maliye Araştırmaları Dergisi

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High bank interest rates have been one of the main problems in certain periods for Turkey. When the development trend of interest rates is examined, it is seen that interest rates were high in the past, they decreased between 2002 and 2010, and they have been increasing after the year 2011. In order to reach low bank interest rates, monetary and fiscal policies are the main tools that can be used. Therefore, the application of monetary and fiscal policies in a harmonious way has substantial importance. Within this context, this study is prepared to evaluate the recent experience of Turkey in terms of harmonious monetary and fiscal policies. In this context, the period after 2010 is included and the period after 2016 is focused especially. Hence, recent approaches and practices in Turkey in terms of the harmonious policy are examined. As a result of the study, it is determined in the study that tight monetary policy and loose fiscal policy are applied generally in Turkey. However, monetary and fiscal policies have begun to be harmonious with the last quarter of 2018. In this context, the credit interest rate of banks has been decreasing with the last quarter of 2018 which was increasing since 2017. This shows that harmonious policies are so important that low bank interest rates cannot be reached without the practice of harmonious policies. This is the most important point that should be stated. Therefore, if it is desired to reach a low credit interest rate of banks, it is highly recommended that Turkey should always adopt harmonious monetary and fiscal policies.

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Section: Literature Reviewmentioning

confidence: 99%

The Importance of Harmonious Monetary and Fiscal Policies: An Examination upon Credit Interest Rate in Turkey

Kartal¹

2019

Ekonomi İşletme Ve Maliye Araştırmaları Dergisi

View full text Add to dashboard Cite

show abstract

The 2007 Financial Crisis and Monetary Policies: On the Monetary Policies's Failure

Cited by 1 publication

References 0 publications

The Importance of Harmonious Monetary and Fiscal Policies: An Examination upon Credit Interest Rate in Turkey

The Importance of Harmonious Monetary and Fiscal Policies: An Examination upon Credit Interest Rate in Turkey

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