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Published on Tuesday, October 10, 2017

Turkey: Credit Shock & the Economy

Since the implementation of the Credit Guarantee Fund (KGF) last March, it has provided some extra GDP growth through both the increase in supply and demand of credit, but it will also have side effects. In this watch, we use a Sign Restrictions SVAR model to disentangle the effects of the KGF on the economy from both supply and demand of credit.