Demiroglu, Ufuk - In: Central Bank Review 13 (2013) 3, pp. 25-44
Investment tends to fall dramatically in economic crises, which slows down the growth of the capital stock and thereby potential GDP. This note estimates the extent of such slowdown in the Turkish crises of 2001 and 2009. Capital growth fell significantly in both crises below its 1987-2011...