A comparative analysis of the financial liberalization in Turkey and Brazil | Zendy

Gover Tugrul | Zendy

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A comparative analysis of the financial liberalization in Turkey and Brazil

Author(s) -

Gover Tugrul

Publication year - 2017

Publication title -

panoeconomicus

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.289

H-Index - 14

eISSN - 2217-2386

pISSN - 1452-595X

DOI - 10.2298/pan170329023g

Subject(s) - liberalization , capital account , capital (architecture) , economics , financial integration , international economics , capital flows , financial capital , financial system , business , finance , geography , financial market , market economy , human capital , archaeology

The objective of this study is to explain the financial liberalization processes in Turkey and Brazil, to analyze the external financial liberalization processes and the financial integration indices and to compare the developments in the financial integration indices of Turkey and Brazil during the period 1980-2013. Our analysis revealed that, on the one hand, Brazil has continued its external liberalization process since the 1990s, but on the other hand, Brazil used two main tools to manage the capital flows, namely, capital controls and liberalization of capital outflows. In contrast, Turkey did not employ these tools following liberalization of the capital account. Key words: Capital flows, Financial liberalization, Financial integration index, Capital flow management.JEL: F38, F65.

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