Recent findings have heightened the debate about the usefulness of public information in asset markets. Using daily composite and sector index returns, this paper examines the role of public information arrival in an emerging, high-inflation economy like Turkey. The findings reveal that real GDP...

In 2002, the the Central Bank of Turkey (CBT) shifted to an implicit inflation targeting framework (IIT) that encompassed the most of core attributes of an official IT regime. Successful disinflation and progress in the policy environment led to the introduction of full-fledged IT in 2006 that...

Regulators in developing countries have started to strict banks' foreign currency (FC) lending. Following others, in June 2009, in what is considered "a surprise development" the Turkish Government removed a provision from its existing laws that had allowed Turkish residents to borrow in foreign...