Dr. Bagis has a B.Sc. from ITU (2006), an M.A. in Economics from Sabanci University (2009) and a Ph.D. degree in Economics from the University of California (2014). In addition to his academic career, he has had private sector experiences at various international and domestic companies and institutions. He has taught his own graduate and undergraduate level economics, math and finance courses at prominent universities including University of California Berkeley and Sabanci University. His analysis and working papers are published by various prominent institutions including the SETA Foundation and the Turkish Ministry of Foreign Affairs’ SAM. He focuses on macro and financial stability and efficacy of policies at the discretion of policymakers.
The world is changing, just as once visualized by the Lord of the Rings author J.R.R. Tolkien. Financial systems, payment systems, and transfers are all going digital. Cash usage is in decline all over the world. As an additional (but totally new generation) payment choice, central bank digital currency (CBDC) is the future of money and payment systems.
With the manifestation of the national will evident, it is now time for Türkiye and the West to reframe the post-election concordance path, create a new road map, resume economic cooperation and revisit the political common ground. The approach should focus on a renewed consensus on economic and political collaborations. They will undoubtedly be better off with more cooperation, rather than competition or just a loose liaison. The political (even ideological) differences should not cloud coherence, the ability to cooperate, and post-ballot collaboration.
The most common question on most minds nowadays would probably be the concern regarding how Türkiye is planning to bring inflation down and prop up the Turkish lira. Furthermore, why won’t policymakers raise interest rates like the U.S. Federal Reserve (Fed) or the European Central Bank (ECB)?
Just to recapitulate an essential point: Although the entire economic outlook is not dire, nominal variables are challenging in Türkiye. Nevertheless, unemployment, growth rate, industrial production, export and fiscal budget balances are usually positive.