Latest / The Productivity Podcast with Fexingo: Output, Efficiency, and Long-Term Economic Growth
How Turkey's Central Bank Defied the Textbook
In this episode of The Productivity Podcast with Fexingo, Lucas and Luna dig into the unexpected productivity payoff of Turkey's central bank hiking interest rates to 50 percent in 2024—a move that bucked the orthodox playbook for fighting inflation. They explore how Turkey's unorthodox monetary policy, from President Erdogan's rate cuts to the dramatic pivot under new central bank governor Hafize Gaye Erkan, forced businesses to rethink everything from inventory management to capital allocation. The result? A surprising jump in productivity growth, as firms faced the hard…
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