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Twin Crises in Turkey: A Comparison of Currency Crisis Models 1
- Article from:
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The European Journal of Comparative Economics
- Article date:
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January 1, 2008
- Author:
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Copyright informationCopyright Università Carlo Cattaneo - Biblioteca Mario Rostoni 2008. Provided by ProQuest LLC. (Hide copyright information)
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Abstract
This paper analyzes the twin crises in Turkey experienced in 2000 and 2001. After a detailed survey of currency crisis models, together with a brief descriptive overview of the crises in Turkey, the similarities among the twin crises in Turkey and the models that have been developed to explain preceding crises in the world are investigated. It is found that the Turkish twin crises cannot be explained by using any individual generation of models, namely first generation models, second generation models or third generation models. Instead, a combination of these models is more appropriate to explain the details of the twin crises.
JEL Classification: E44, E52, E62
Keywords: Currency ...
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