EFFECT OF THE GLOBAL ECONOMIC CRISIS ON TURKISH FIRMS

Abstract

Representing the world’s 15th largest GDP on a PPP basis, Turkey is regarded as both a developed, newly industrialized country and an emerging market economy. This paper examines the effects of the financial/economic crisis on Turkey and Turkish firms. Secondary research is based on literature survey of financial and economic data from journals, magazines, news articles, World Bank surveys and white papers. Primary research contrasts the power-law ranking of Turkish firms (based on the Forbes Global 2000 lists) in the pre-crisis (2007), mid-crisis , and post-crisis (2010) periods. As a point of reference, some power law ranking plots are also presented for the same periods for US firms. Overall it is shown that Turkey has weathered the global economic/financial crisis relatively well, compared to other pan-European/Central Asian nations

Keywords

• Global Economic Crisis, Turkish Firm Performance, Power Law Ranking of Turkish Firms

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