ECONOMIC EFFECTS OF EARTHQUAKES 1999 MARMARA/TÜRKİYE EARTHQUAKE CASE

Year 2025, Volume: 25 Issue: 2, 455 - 474, 08.05.2025

Güzin Bayar

https://doi.org/10.21121/eab.20250213

Abstract

Frequent earthquakes are a reality of Türkiye. It is very important to be prepared for these earthquakes, take the necessary measure before the earthquake and to recover the losses quickly when an earthquake occurs. In this study, the literature on the economic effects of earthquakes is examined and the effects of earthquake on the Kocaeli province, the epicenter of the 1999 Marmara Earthquake, are analyzed. As an important indicator of the level of economic activity, the effects of the earthquake on the city's exports were examined with panel data regression covering the years 1996-2021 and 163 countries. The results of the regression analysis show that despite the big magnitude of the earthquake and the heavy losses, the economy of Kocaeli province recovered rapidly and returned to its export performance rapidly, even surpassing its previous performance in a short time.

Keywords

Türkiye, Earthquake, Kocaeli, Panel Data, Exports

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