Capital flows to an emerging financial market in Turkey

摘要: Increased globalization in financial markets implies that the percentage of all shares under foreign ownership domestic stock has been rising. Speculative attacks on exchange market February 2001 led to deep economic crisis Turkey. This article will explore various indicators Turkey based a macro-model. The share economy is key variable establish degree vulnerability during crisis. An empirical investigation shows owned by foreigners Istanbul Stock Exchange (ISE) increasing since 1995 and currently about 50 percent total. Furthermore, general index prices 1999 was at its highest level 1995. would imply price another strong indicator an impending Turkish data theoretical model presented this paper. unexpected capital outflow certainly cause rate fluctuations, balance payments problems, international debt Hot money inflows boost keep real high. However, short-term stay sudden creates crisis, which results turn leads further increase loans from International Monetary Fund (IMF). Relatively high may suggest Using data, can be statistically predicted.