{"title":"ANALYSIS OF TRANSFORMATIONS IN MONETARY POLICY IMPLEMENTATIONS IN TURKEY AFTER 2021","authors":"Banu Demirhan, Erdal Demi̇rhan","doi":"10.58627/dpuiibf.1409135","DOIUrl":null,"url":null,"abstract":"The aim of this study is to analyze the main economic effects of the monetary policies implemented in Turkey after 2021. Monetary policies implemented in 2021 reflect an unorthodox approach, unlike the policies implemented before 2000. As a result of these policies based on keeping interest rates low, the inflation rate rose to double digits and central bank reserves melted rapidly. As of the second half of 2023, orthodox policies have been returned and improvements in macroeconomic balances have begun. Despite the orthodox policies implemented since the second half of 2023, there is no significant decrease in the inflation rate. There is a partial improvement in reserves. Whether orthodox policies produce the desired results in Turkey depends on the continuity of these policies and the inflow of foreign capital.","PeriodicalId":503825,"journal":{"name":"Dumlupınar Üniversitesi İİBF Dergisi","volume":"320 9","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Dumlupınar Üniversitesi İİBF Dergisi","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.58627/dpuiibf.1409135","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
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Abstract
The aim of this study is to analyze the main economic effects of the monetary policies implemented in Turkey after 2021. Monetary policies implemented in 2021 reflect an unorthodox approach, unlike the policies implemented before 2000. As a result of these policies based on keeping interest rates low, the inflation rate rose to double digits and central bank reserves melted rapidly. As of the second half of 2023, orthodox policies have been returned and improvements in macroeconomic balances have begun. Despite the orthodox policies implemented since the second half of 2023, there is no significant decrease in the inflation rate. There is a partial improvement in reserves. Whether orthodox policies produce the desired results in Turkey depends on the continuity of these policies and the inflow of foreign capital.
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