Fatih Özatay, PhD
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Is there a third perspective?
The key to international competitiveness is lowering production cost of goods and services, which requires productivity gains, technologic advancement in production and…
Which perspective we must embrace?
We must see the easing of current account deficit, that is, the fall in foreign fund requirement, as an “improvement.” Balance of payments figures for June were…
What does China’s export performance imply?
The policy Turkey initiated in order to boost exports has come back as an impediment to exports by pushing up costs. China’s weak export performance in July was the last…
Initial signs for the third quarter
Though it is soon to judge, first signals for the third quarter imply that growth rate will not be substantially different from the first half. Yesterday came another…
Stagnant growth in the second quarter?
Even though the episode of slow growth that started in the first quarter of 2011 has ended by Q1 2012, the recovery has not started yet. Last week foreign trade…
Are we sure that inflation will be 6.5 percent?
Even if the 6.5 percent year-end target is achieved, Turkey’s CPI will be relatively higher than those in Turkey’s rivals in international markets. Inflation figures for…
Is the worst part over? (2)
For long, Germany has been opposing to ECB’s monetization for purchasing securities of troubled countries. Following the positive reaction of the market’s to European…
Is the worst part over?
With the high budget deficit and public debt, the perception that the existing fiscal policies were not sustainable became prevalent. ECB President Draghi declared on…
Switching from national currency to Euro
Will sound Nordic countries switch back to their national currencies letting the others stew in their juice? They were quite angry at us and they reacted “kindly”…
Lessons from the exchange rate policy
When implementing such policy, anti-inflationary efforts mustn’t be decelerated – or steps to create an impression as such must be avoided. For a couple of weeks I have…
Did it really work?
The intentional depreciation policy on lira did not contribute to Turkey’s competitiveness for the current period. Now we can discuss it comfortably. Inflation…
Unemployment inertia persists
Unemployment figures have been fiercely inert and steady except extraordinary periods. Unemployment figures for April were announced yesterday. I prefer not to use…