The Kapali Carsi

  • The poor should die!

    I did not write about the Turkish economy for a change in this week’s Hurriyet Daily News (HDN) column: Inspired by a a YouTube video, I decided to write about the history of economic thought, at least one particular episode in that history. Anyway, you can read the whole thing at the HDN website. I [...]

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  • Turkish monetary policy exacerbates inequality

    In my previous Hurriyet Daily News (HDN) column, which I also posted here, I illustrated the difference between market and academic economists (or economics columnists) by explaining what the Central Bank should and would do at Thursday’s rate setting meeting. The Central Bank did cut its policy rate by 50 basis points as expected yesterday, [...]

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  • ‘Should’ Turkish monetary policy

    In my latest Hurriyet Daily News (HDN) column, I discuss what the Central Bank of Turkey should do at Thursday’s rate-setting meeting- versus what it will actually do. You can read the whole thing at the HDN website, and I have a few additional points to make. First of all, I was planning to write [...]

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  • Turks Richer: They just didn’t know about it!

    In a recent speech, Deputy Prime Minister (and economy czar) Ali Babacan noted that Turkey’s average per capita income now exceeded $19,000. He was talking about purchasing power parity (PPP)-adjusted numbers, but this figure seemed way too high to me,  and so I decided to check: According to the IMF’s most recent World Economic Outlook [...]

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  • A tale of two Turkeys

    You probably often see very conflicting views of the Turkish economy. If you are sick of my gloomy writings (hey, it is called the dismal science), there are plenty of columns and research reports painting a rosy view of the Turkish economy. So how can we reconcile these different assessments? Well, the easiest way out [...]

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  • The end of military tutelage: Historic moment for Turkey

    I don’t want to say too much and spoil the fun of my latest Hurriyet Daily News column- except that you should read it all the way. Two of my readers asked me to remove them from my mailing list this morning, presumably after reading my column, and so unless this is a coincidence, they [...]

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  • The similarity between Turkish PM Erdogan and a Pigeon

    Yep, that’s right: Turkish PM Recep Tayyip Erdogan is very similar to a pigeon. Not a dove, I mind you, a pigeon, so don’t have any “peace” images in your mind. I don’t have the size of their brains in mind, either:) Anyway, if you’d like to know how come, have a look at my [...]

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  • The World Cup, Food Poisoning, London, Charles Dickens and more

    I am back again after a short absence. What was I up to during this time? I continued to write for the Hurriyet Daily News (HDN) during my EconoMonitor absence, and my columns there summarize what I was up to. Well first, I wrote about economists’ predictions on the World Cup- and why you should [...]

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  • Coal for votes – or maybe even lives? (and other Turkey data tales)

    This week (June 8-13) is/was Turkey’s quarterly data intensive week. In addition to first quarter National Income Accounts, we had April Industrial Production and Balance of Payments- as well as a bunch of second-tier data. In my latest Hurriyet Daily News (HDN) column, I summarized this data and highlighted a particular observation about industrial production. [...]

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  • Summary of Turkish 1Q GDP

    Turkish first quarter National Income Accounts (NIA) were released today. It is safe to say that the key word is rebalancing- from domestic to external demand, which is a positive development given the country’s large current account deficit and dependency on capital flows for growth: Some analysts have claimed that the adjustment is mainly due [...]

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Otaviano Canuto

Otaviano Canuto is Senior Advisor on BRICS Economies in the Development Economics Department, World Bank, a new position established by President Kim to bring a fresh research focus to this increasingly critical area. He also has an extensive academic background, serving as Professor of Economics at the University of Sao Paulo and University of Campinas (UNICAMP) in Brazil.

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