Turkey’s Resilience to a Fed Rate Hike
The effects on emerging markets of unconventional monetary policies implemented by some advanced economies have been a focus of debate. The policy of so-called quantitative easing that the central banks in advanced economies embarked on has increased capital flows to emerging markets. However, as these policies are scheduled to end in the near future and advanced economies are beginning to normalize their monetary policy, we are watching episodes of volatility in global financial markets. For emerging markets improving...