Şebnem Kalemli-Özcan
Şebnem Kalemli-Özcan
Şebnem Kalemli-Özcan, a former senior policy adviser at the International Monetary Fund, is professor of economics at the University of Maryland, College Park.

The abundant global dollar liquidity created by low US interest rates implied easy access to foreign exchange for emerging-market banks, including lower borrowing costs. However, this hasn’t necessarily benefited Turkey.

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