Debt Crisis and Macroeconomic Indicators of Turkey-EU with the PIIGS (Portugal, Ireland, Italy, Greece, Spain) Country Review

Abstract

The outbreak of debt crises in many EU countries, together with the Global Crisis in 2008-2009, let to a widening of the debate on economic imbalances within the EU. Therefore, studies that examine the causes and effects of crisis in various aspects have also taken place in the academic literature. The “peripheral countries” group consisting of Portugal, Ireland, Italy, Greece and Spain, which are seen as the most fragile economies of the Eurozone and had to bear the crisis heavily, took its place in the literature. In this study, the reflections of the 2008 Global Crisis on the EU and the transformation process into the EU Debt Crisis are discussed, the structural reforms applied to exit the crisis are examined and their success is discussed. In addition, the economic structure that causes them together referred to in the literature of EU member countries we have discussed, convergence was evaluated regarding macroeconomic indicators evaluated together with Turkey.

Keywords

• Crisis
• Economic
• PIIGS
• Turkey

AB Borç Krizi ve Makroekonomik Göstergelerle Türkiye-PIIGS (Portekiz, İrlanda, İtalya, Yunanistan, İspanya) Ülkeleri Değerlendirmesi

Öz

2008-2009'daki Küresel Kriz ile birlikte birçok AB ülkesinde borç krizlerinin patlak vermesi, AB içindeki ekonomik dengesizlikler konusundaki tartışmaların genişlemesine yol açmıştır. Dolayısıyla krizin nedenleri ve etkilerini çeşitli yönleriyle irdeleyen çalışmalar da akademik literatürde yerlerini almıştır. Avro Bölgesi’nin en kırılgan ekonomileri olarak görülen ve krizi ağır biçimde yüklenmek zorunda kalan Portekiz, İrlanda, İtalya, Yunanistan ve İspanya’dan oluşan “çevre ülkeleri ” grubu literatürde yerini almıştır. Bu çalışmada 2008 Küresel Krizi’nin AB’ye yansımaları ve AB Borç Krizi’ne dönüşme süreci ele alınıp, krizden çıkış için uygulanan yapısal reformlar incelenip bunların başarısı tartışılmıştır. Buna ek olarak, ele aldığımız AB üyesi ülkelerin literatürde birlikte anılmalarına neden olan ekonomik yapıları, Türkiye ile birlikte değerlendirilip makroekonomik göstergelerle ilgili yakınsama değerlendirilmiştir.

Anahtar Kelimeler

• kriz
• ekonomi
• PIIGS
• Türkiye

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