Independent and cutting-edge analysis on Turkey and its neighborhood

Global economies have been caught in a perfect storm, which nearly devastated the international financial system. Timely and decisive intervention by governments and financial institutions helped restore stability. However, the full impact of systemic risk and of certain persistent problems has yet to be fully resolved. This paper evaluates the experience of Turkey in successfully weathering the recent crisis. It highlights the significant role played by the country’s robust banking sector in enhancing the economy’s resilience to the crisis.