Fatih Özatay, PhD
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Things are the same at FED, we must focus on Europe
We should not expect a policy change that will trigger capital outflow from countries like Turkey until the end of 2012. After the committee meeting the day before, the…
Will the Turkish economy grow in 2012?
2012 growth rate at the 1 to 3 percent interval seems reasonable. Yesterday, third quarter growth rate was announced at 8.2 percent. Growth figure for the first quarter,…
A positive but insufficient step
This step is insufficient to relieve markets. Europe was in a vibrant mood for the last two days. First, the European Banking Authority (EBA) and then the European…
Will Europe face credit contraction?
As calculations of the newly established European Banking Authority suggest, total capital gap of European banks amounts €106 billion. There are a few days before we…
Will inflation rate increase further?
The upwards trend in inflation will be temporary. Inflation figures for November were announced. Annual increase in consumer prices reached 9.5 percent. Year end…
To unify the BRSA and the CBT?
In the context of what we have experienced since the late 2010, I believe it will be useful to discuss unifying the BRSA and the CBT. There is a common belief that…
Vicious loop
The current public debt/GDP ratio in Italy is too high, at 120 percent. The main reason why the interest rate is high is the high level of public debt. During the…
Need for a new economic program (4)
It is quite difficult for Turkey to improve per capita income to the level of developed countries with the current savings rate. I started to write this series a while…
Need for a new economic program (3)
Turkey’s trade deficit heals during crises, but this is not exactly pleasing as the underlying reason of this improvement is the contraction of the economy. Merkel,…
Need for a new economic program (2)
Turkey’s production is highly dependent on the import of intermediate goods and investments are highly dependent on the import of investment goods. Adding the fact that…
Need for a new economic program
The conclusion that Turkey needs a new economic program can be reached easily from many different perspectives. Unemployment rate which escalated during the global…
Current account deficit: heads to where?
Since we will have difficulty in accessing funds for borrowing, we will invest and consume less. This will contribute to current account balance positively. Last week…