The Global Financial Crisis Of 2008 And Turkey

The Global Financial Crisis Of 2008 And Turkey

KILIÇ, Ramazan

The First World Economic Crisis that started in 1929 and rapidly influenced all the countries around the world resulted in stagnation, common unemployment, increase in foreign trade deficits and consequent decrease in the level of welfare. The policies initiated in order to decrease and eventually delete these effects of the crisis could only give results many years later. However, erasing the effects of the first crisis was not enough to put an end to the world crises. In 1970 a new crisis bringing along worse results than the previous, began. During this period of both inflation and stagnation, the results have been more destructive. The third major crisis that affected the world economy deeply is, of course, the Global Financial Crisis of 2008. This crisis has affected all the countries around the world and its effects are still visible. In this respect, the Turkish Economy was also influenced by this crisis. In this paper, firstly, economic crises were analyzed, and then the global crises were evaluated from the perspective of Turkey.

Conference or Workshop Item
PeerReviewed

2010-06

210