LONDON/ISTANBUL (Reuters) - Turkey's botched coup and an apparent lurch towards authoritarianism is ratting investors and threatens to throw into reverse the hundreds of billions of dollars that have flowed to this once-booming emerging market.
In the years after its 2001-2002 financial crisis, Turkey rode a wave of bullishness towards emerging markets, and while estimates vary, the Institute of International Finance reckons overseas investors poured more than $150 billion into Turkish stock and bond markets since end-2003.