A weakly regulated banking sector is costly notably in the context of emerging-market economies characterized by transitional financial systems. Political and institutional forces play an important role in explaining the inability to implement proper banking sector regulations over significant...

On February 21, 2001, Turkish authorities announced the forced abandonment of the pegged exchange rate regime, which was in effect since the launch of the International Monetary Fund (IMF)-backed three-year stabilization program at the end of 1999. This announcement came following the acute...

On February 21, 2001, Turkish authorities announced the forced abandonment of the pegged exchange rate regime, which was in effect since the launching of the International Monetary Fund backed three-year stabilization program at the end of 1999. This announcement came following the acute...