4 ms·
anyone has any theory on whether turkey is special case, or if its neighbors are going to follow the same path ?
by bsaul 4y ago
anyone has any theory on whether turkey is special case, or if its neighbors are going to follow the same path ?
- jlawer 4y agoI believe the monetary policy of Erdoğan is somewhat Unique. Türkiye has dropped / resisted raising interest rates, and pretty much done the opposite to what few things economists agree on. This has caused the Lira to drop in value increasing the cost of imports. They are importers of Energy unlike most of their neighbours and is a net food importer having been especially hit hard by the Ukraine conflict.
- mccorrinall 4y agohttps://wits.worldbank.org/CountryProfile/en/Country/UKR/Year/2018/TradeFlow/Export/Partner/all/Product/16-24_FoodProd/Show/Partner%20Name;XPRT-TRD-VL;XPRT-PRDCT-SHR;/Sort/XPRT-TRD-VL/Chart/top5 https://wits.worldbank.org/CountryProfile/en/Country/UKR/Yea... Turkey was indeed in the top 5 food importers from Ukraine in 2018. Interesting stuff! Edit: actually the 5th top importer
- brad0 4y agoPlanet Money did a good episode on this: https://www.npr.org/2022/04/06/1091287991/turkeys-runaway-inflation-problem https://www.npr.org/2022/04/06/1091287991/turkeys-runaway-in... Basically, the president doesn’t trust interest rates because it means some people can’t pay back loans.