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overnight borrowingborrowing ratesbrief accountaccount turkishemerging economiesextreme valuereform programannual inflationshort termterm capitalmacroeconomic performanceflexibler wechselkursflexible exchange rate2001 2003turkey experienceexchange ratecurrency substitutionextreme valuesboom bustinflation singlesingle digitsdigits endforeign exchange markettime series analysisrates extremeinflation disinflationdisinflation turkeyturkey brieflearning livelive floatfloat turkeyfloating exchangefinancial marketsstabilization programpaper provideprovide briefeconomy yearsyears implementationimplementation structuralstructural changechange reformprogram economyeconomy experiencedexperienced relativelyrelatively growthgrowth raterate domesticdomestic productproduct healthyhealthy balancebalance paymentspayments situationsituation relativelyrelatively lowlow inflationinflation earlyearly endend annualinflation startedstarted riserise stepwisestepwise fashionfashion growthgrowth performanceperformance poorpoor exchangerate policypolicy preferencespreferences authoritiesauthorities economyeconomy dependentdependent shortcapital flowsflows calledcalled hothot moneymoney yearsyears resultresult exemplaryexemplary economyeconomy textbooktextbook casebust economyeconomy relativelyrelatively lowergrowth volatility
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