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What does Gaziantep have that Diyarbakir does not ?
Have you visited seen Gaziantep or Diyarbakir? If you have, you can notice that the former is rich and the latter is poor. When I first visited Gaziantep, I felt myself…
Measures to prevent temporary FX inflows
The excess liquidity and low interest rates in developing countries is a source of trouble for developing countries including Turkey. And it appears that we will discuss…
Mind the difference between temporary-permanent FX inflows
In developed countries interest rates vary at quite low levels. Table 1 shows the returns on two-year treasury bills in selected developed countries, Turkey and Brazil.…
Consumer price inflation and headline inflation: why in the sulks?
Until some time ago, the day when the inflation figures were announced had a special importance for me. I waited the announcement with excitement and tried to evaluate…
It is bad to act like turkeys voting for Christmas
Turkey acknowledged this with the banking crisis of 2001. Before the crisis everyone through that everything was normal. There existed a false common opinion that the…
It is a good thing that which action the Bank will take with respect to the exchange rate is not certain
Central Bank of the Republic of Turkey (CBRT) was to reinitiate regular FX (foreign exchange) purchase tenders. However the announced statement was different than those…
The rabbit Central Bank pulled out of the hat
Yesterday I tried to explain the decision of the Central Bank of the Republic of Turkey (CBRT) on a new FX purchasing system. Now it is time to talk on what this…
A slight divergence from pure floating exchange rate regime
On Friday the Central Bank announced an important decision on FX purchase tenders. In the former system, daily purchase limit was US$80 million. The announcement said:…
Ill fate of the Competition Commission of Pakistan
What is the first thing that comes to your mind about Pakistan? For instance, it might be the destruction caused by the recent flood disaster. The picture after the…
There is nothing much that the Central Bank can do
Capital movements are free in many countries for long. Substantial FX trade is carried out every day. Purchase and sale of different currencies depends on the expected…
Is not having a star sector the end of the world?
Last Tuesday I began my words stating that Turkey does not have a star sector. The term 'star' referred to sectors exports of which grew with a pace above the average…
Why does Turkey not have any star sectors?
I recently heard that star sectors of Taiwan have been changing. While the ICT sectors used to be more important, these were recently replaced with solar energy sectors.…