In the early 21st century, Turkey experienced a deep and harmful economic crisis resulting mostly from the combination of excessive public spending, deepening current account deficit, inadequate exchange rate and monetary policies, insufficient banking supervision. In the first years of AKP government, the Turkish economy experienced a remarkable recovery. Whereas geopolitical and domestic tensions have risen again, Turkey's macro and financial indicators have begun deteriorating. Drawing on her own body of research, Ms. Demiralp will present an overview of the problems that the Turkish economy is facing today with specific emphasis on the role of monetary and macro-prudential policy.

Selva Demiralp, Associate Professor, Koç University, Department of Economics (Turkey)   She served as an economist at the Federal Reserve Board between 2000 and 2005, then joined the Economics department at Koc University in 2005.  Most recently, from 2013 onwards, she writes weekly articles for Milliyet, which is one of the major Turkish newspapers. Over the past decade, Selva Demiralp had extensive interactions with several central banks including the Federal Reserve, European Central Bank and the Central Bank of Turkey. She worked as a consultant for the ECB. Selva Demiralp received highly competitive grants for her research on monetary policy including the European Comission’s International Outgoing Fellowship (IOF)  as well as numerous grants from the Scientific and Technological Research Council of Turkey (TUBITAK). Selva Demiralp’s research has been published in leading economic journals including the Journal of Money, Credit, and Banking and the Journal of Economic Dynamics and Control.

Moderator:

Christophe Destais, Deputy Director of the CEPII

BY INVITATION ONLY
Contact: conferences@cepii.fr