Author(s): Zeynep KARA?
The 2008 global financial crisis affected developed and developing countries in different dimensions. In the period when the global crisis was in effect, the attempts of the developed countries to restructure their stability have made the emerging countries affected by the same crisis more and more distressed, especially in terms of the uncertainty of their capital movements. Countries integrated to each other have had to develop and implement non-traditional monetary policy instruments when they find that traditional monetary policies are insufficient during the struggle against the global crisis. In the face of developments, countries have had to design and implement their own non-standard monetary policy instruments. In this study, non-traditional monetary policies developed and put into practice by TCMB, the Fed and the European Central Bank were examined.