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The BRSA’s decisions: Both timely and not (1)
These steps will further reduce GDP growth in 2014. From this perspective, the decisions were untimely. But when you neglect this significant delay, the decisions were…
The baseline scenario for 2014 (1)
Taking into account the current vulnerabilities facing the Turkish economy, two external determinants come to the fore: the US and Europe. It is almost the end of the…
Is Turkey more equitable now?
In the 1960s, Turkey, Korea, and Egypt had the same GDP per capita. Should we compare ourselves with Korea and feel frustrated or should we look at Egypt and be pleased?…
It’s Gangnam Style to have dershanes
Have you read Murakami’s 1Q84? One of the main characters of the novel, Tengo, is a cram school math teacher by day and a wannabe novelist by night. I did not get the…
Confessions (1)
It is time for self-criticism. But please hear my version of story first and then decide. To be continued. If I were you, I had long ago asked myself if it a waste of…
Innovate something and we will pay for it, my dear brother
If I had a good idea, I would make use of the entrepreneurship support programs in Turkey and launch my company in the US. That’s the wisest option, if you ask me. Last…
Partly back to the conventional
The CB’ decision will increase the predictability of short term market interest rates. From one perspective, this in a sense indicates a return to a more “conventional”…
Turkey is not as good as Uruguay
In countries that are governed well, the decisions are made in the capital cities. In the others, the decisions are made in other capital cities. All economies are in…
Success = Talent + Luck
Does Turkey implement any anti-inflationary policy that we expect a “permanent” drop in inflation rate? ‘Success = Talent + Luck’ ‘Great success = a little more talent +…
The past is gone
There is a regression to the mean. This is not the fate of Turkey, of course. What we need is to realize that the past is gone and make a fresh new start. It is the…
Turkey still does not speak English
The domination of the English language is not going to decrease; it’s going to keep growing. In order to understand the world correctly and not struggle with the spirit…
As net capital inflow decreases...
A significant decline in net capital inflow implies hikes in exchange and interest rates and drops in domestic credit growth rate. Turkey spends a large proportion of…