Trilemma Hypothesis: A Different Perspective on Turkey Economy

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dc.contributor.authorKoc, Havva
dc.date.accessioned2024-06-12T11:16:42Z
dc.date.available2024-06-12T11:16:42Z
dc.date.issued2020
dc.departmentTrakya Üniversitesien_US
dc.description.abstractThe Trilemma Hypothesis continues to provide a macroeconomic framework with the trade-offs and challenges faced by policymakers, investors, and central banks. The Trilemma Hypothesis starting with Mundell-Fleming and developed by Frankel shows that in an open economy, the monetary authority cannot apply three policies simultaneously to achieve economic goals. It is important to examine the preferred economic policy in the short run in Turkey within the framework of the Trilemma Hypothesis. It aims to analyze the effect of the real effective exchange rate and total funding imposed by the Central Bank on net international investment position, direct investments, and portfolio investments during the period 2011Q2-2020Q2 in Turkey. The long-term relationship between variables was estimated by using the ARDL method. Findings of the study suggest that the Trilemma Hypothesis is valid for Turkey. In this study, choosing the central bank total funding rate as an expansionary monetary policy is of particular importance as it has not been encountered in the literature. In this context, it is thought that this original study can contribute to the literature.en_US
dc.identifier.doi10.26650/ISTJECON2020-830746
dc.identifier.endpage413en_US
dc.identifier.issn2602-4152
dc.identifier.issn2602-3954
dc.identifier.issue2en_US
dc.identifier.startpage383en_US
dc.identifier.trdizinid422197en_US
dc.identifier.urihttps://doi.org/10.26650/ISTJECON2020-830746
dc.identifier.urihttps://search.trdizin.gov.tr/yayin/detay/422197
dc.identifier.urihttps://hdl.handle.net/20.500.14551/24412
dc.identifier.volume70en_US
dc.identifier.wosWOS:000848721800007en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakTR-Dizinen_US
dc.language.isotren_US
dc.publisherIstanbul Univen_US
dc.relation.ispartofIstanbul Iktisat Dergisi-Istanbul Journal Of Economicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectTrilemma Hypothesisen_US
dc.subjectMonetary Independenceen_US
dc.subjectExchange Rate Stabilityen_US
dc.titleTrilemma Hypothesis: A Different Perspective on Turkey Economyen_US
dc.typeArticleen_US

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