Question: In the October 2 3 , 1 9 9 9 , issue, The Economist reports that the interest rate per annum is 5 . 9

In the October

23, 1999,

issue, The Economist reports that the interest rate per annum is

5.93

percent in the United States and

70.0

percent in Turkey. Why do you think the interest rate is so high in Turkey? On the basis of the reported interest rates, how would you predict the change of the exchange rate between the U

.

.

dollar and the Turkish lira according to international Fisher effect?

In the October 2 3 , 1 9 9 9 , issue, The

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