This study conducts a comprehensive analysis of the effects of changes in financial conditions on the economy of Türkiye, for which financial conditions indices were constructed. To examine possible changes in the relationship between financial conditions and the real economy due to the unique...

Export credits are used extensively throughout the world to temper the negative effects of financial constraints on exports. In this paper, we focus on a particular form of subsidized export credits, namely, an export rediscount credit program implemented by the Central Bank of the Republic of...

We examine the effect of financial constraints on firms' employment growth. We use the maturing debt approach which uses the fact that the amount of long term credit maturing in a particular year can be considered as an exogenous financial constraint on firms’ employment decision in that year....