Municipality workers in protective suits spray disinfectant at the iconic Grand Bazaar in Istanbul amid the coronavirus pandemic. Photo: AP Municipality workers in protective suits spray disinfectant at the iconic Grand Bazaar in Istanbul amid the coronavirus pandemic. Photo: AP
Municipality workers in protective suits spray disinfectant at the iconic Grand Bazaar in Istanbul amid the coronavirus pandemic. Photo: AP
Selva Demiralp
Opinion

Opinion

Macroscope by Selva Demiralp and Şebnem Kalemli-Özcan

How the pandemic and dollarisation have deepened Turkey’s economic crisis

  • 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

Selva DemiralpŞebnem Kalemli-Özcan
Selva Demiralp and Şebnem Kalemli-Özcan

Updated: 7:00pm, 6 Jan, 2021

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Municipality workers in protective suits spray disinfectant at the iconic Grand Bazaar in Istanbul amid the coronavirus pandemic. Photo: AP Municipality workers in protective suits spray disinfectant at the iconic Grand Bazaar in Istanbul amid the coronavirus pandemic. Photo: AP
Municipality workers in protective suits spray disinfectant at the iconic Grand Bazaar in Istanbul amid the coronavirus pandemic. Photo: AP
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Selva Demiralp

Selva Demiralp

Selva Demiralp, professor of economics and chair of economic research at Koç University, is director of the Koç University-TUSIAD economic research forum.

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.