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Dating Banking and Currency Crises in Turkey, 1990-2014

Dating Banking and Currency Crises in Turkey, 1990-2014

Ali Ari, Raif Cergibozan, Sedat Demir
Copyright: © 2016 |Pages: 34
ISBN13: 9781466694842|ISBN10: 146669484X|EISBN13: 9781466694859
DOI: 10.4018/978-1-4666-9484-2.ch012
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MLA

Ari, Ali, et al. "Dating Banking and Currency Crises in Turkey, 1990-2014." Handbook of Research on Financial and Banking Crisis Prediction through Early Warning Systems, edited by Qaiser Munir, IGI Global, 2016, pp. 240-273. https://doi.org/10.4018/978-1-4666-9484-2.ch012

APA

Ari, A., Cergibozan, R., & Demir, S. (2016). Dating Banking and Currency Crises in Turkey, 1990-2014. In Q. Munir (Ed.), Handbook of Research on Financial and Banking Crisis Prediction through Early Warning Systems (pp. 240-273). IGI Global. https://doi.org/10.4018/978-1-4666-9484-2.ch012

Chicago

Ari, Ali, Raif Cergibozan, and Sedat Demir. "Dating Banking and Currency Crises in Turkey, 1990-2014." In Handbook of Research on Financial and Banking Crisis Prediction through Early Warning Systems, edited by Qaiser Munir, 240-273. Hershey, PA: IGI Global, 2016. https://doi.org/10.4018/978-1-4666-9484-2.ch012

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Abstract

The last two decades characterized by financial crisis episodes have seen a proliferation of empirical studies. These early warning system models allowed researchers to distinguish certain key determinants of financial crises, and helped predicting and preventing the occurrence of some crises. However, crises continue to arise as recently illustrated by the onset of the global financial crisis. This clarifies that there are still a lot to learn about financial crises. In this sense, this paper aimed to compare the performance of several currency and banking crisis indicators within the Turkish economy which underwent severe financial crises in the last twenty years. Different currency crisis indicators performed well by detecting the 1994, 2001 and 2008 currency crises, while banking crisis indicators had significant inconsistencies. However, two banking crisis indicators we developed stand for valuable efforts in dating banking crises by constructing aggregate indexes, and contribute significantly to the empirical crisis literature.

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