Lessons from Turkey to SA: Economic independence is a battle

Without tighter capital controls, regulating the flow of money in and out of their economies, Turkey and South Africa are vulnerable to the whims of the financial markets

2021-12-04 03:00:00 PM

Lessons from Turkey to SA: Economic independence is a battle: Without tighter capital controls, regulating the flow of money in and out of their economies, Turkey and South Africa are vulnerable to the whims of the financial markets

Without tighter capital controls, regulating the flow of money in and out of their economies, Turkey and South Africa are vulnerable to the whims of the financial markets

has declared “an economic war of independence”.Erdoğan’s gamble, which uses monetary policy to drive investment and job creation, is not one that many are willing to take. Faced with fears inflation will become entrenched, pushing advanced economies to withdraw accommodative monetary policy, most emerging market economies have gone in the opposite direction. While the Turkish central bank aggressively slashes interest rates, others, including South Africa, have started to raise theirs.

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Lessons from Turkey to SA: Economic independence is a battleLessons from Turkey to SA: Economic independence is a battle - Without tighter capital controls, regulating the flow of money in and out of their economies, Turkey and South Africa are vulnerable to the whims of the financial markets

Lessons from Turkey to SA: Economic independence is a battleLessons from Turkey to SA: Economic independence is a battle - Without tighter capital controls, regulating the flow of money in and out of their economies, Turkey and South Africa are vulnerable to the whims of the financial markets

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