{"product_id":"capital-account-convertibility-von-ebru-tomris-aydogan","title":"Capital Account Convertibility","description":"\u003cp\u003eThe Capital Account Convertibility (KAC) is a  significant outcome of the globalization process.  The restoration of stability and growth in order to  increase the efficiency and saving in the economy  were the major aims of the financial liberalization .   The analysis of the financial liberalization on the  Turkish economy shows that, the economy has been  exposed to significant amount of hot-money flows  during 1990s. The statistical data used in this  study verifies the increase in short-term capital in  and outflows, after the convertibility of the  Capital Account.    The results indicate that, the vulnerability of the  Turkish economy increased due to the sudden and  volatile flows of capital. The correlation between  the increasing speculative capital flows, portfolio  investment, financial crises, unexpectedly low  levels of FDI, and instability supports the argument  of premature liberalization in Turkey.   Finally, successful implementation of the economic  policies is suggested, together with controls on hot  money flows, in order to achieve macroeconomic  stability, and increase the amount of FDI, and the  real rate of growth in the economy.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783843367431\"\u003e\u003ch3\u003eThe Turkish Case\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783843367431","offer_id":39497175171165,"sku":"9783843367431","price":59.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/592c95e0-5401-4b67-b878-04b1fd5b23d1.jpg?v=1737441426","url":"https:\/\/shop.autorenwelt.de\/en\/products\/capital-account-convertibility-von-ebru-tomris-aydogan","provider":"Autorenwelt Shop","version":"1.0","type":"link"}