As Turkey’s growth numbers signalled negative news about the near future, possible economic remedies to solve an upcoming economic slowdown have been discussed. In this article by looking at the financial and banking sector performance of the country during 2001 local and 2008 global crisis, I tried to compare two mainstream strands of theory, i.e. liberal and Keynesian approaches to the economic crisis. It seems like the country has experienced a neo-liberal, unregulated financial episode until 2001 crisis, while in post-2001 period we have witnessed more regulatory and Keynesian financial remedies which were successful to save the country from more harmful effects of the Great Recession. Those Keynesian style regulations were mainly inspired from the effects of changes within the governing style of international financial institutions. But in the final section of the analysis, through pointing out the potential triggers for another economic crisis, this article argues that though Keynesian solutions are more logical and helpful in alleviating the symptoms of crisis, they could not make Turkey crisis-free. High current account deficits, persistent inflation, adamant unemployment and insufficient domestic production in the face of rising imports, all of these can be classified as the symptoms of the still crisis prone economic structure in the country. Then, other, more radical alternatives should be on the agenda for a better future.
Subjects | Political Science |
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Journal Section | Makaleler |
Authors | |
Publication Date | October 27, 2017 |
Published in Issue | Year 2017 Volume: 5 Issue: 2 |
Siyasal Bilimler Dergisi, Marmara Üniversitesi Siyasal Bilgiler Fakültesi’nin hakemli akademik yayınıdır. Altı ayda bir yayınlanır. Dergide yayınlanan makalelerdeki görüşler yazarlarına aittir. Yayın Kurulu tarafından benimsendiği anlamına gelmez. Yayın Kurulu, yazının özüne dokunmaksızın gerekli yazım ve cümle değişikliklerini yapma hakkını saklı tutar. Siyasal Bilimler Dergisi, ulusal (TÜBİTAK ULAKBİM Sosyal ve Beşerî Bilimler Veri Tabanı) ve uluslararası (EBSCO, ULRICH) alan endekslerinde taranmaktadır.
Journal of Political Science is a peer-reviewed academic journal of Marmara University Faculty of Political Science. The journal is a biannual publication. All the views and opinions expressed in the articles are those of the authors and they do not necessarily reflect the views or opinions of the editor, the editorial board, or the publisher. The editorial board reserves the right to make necessary changes in spelling and sentences without changing content. The journal is indexed by EBSCO International Index, ULRICH's and the ULAKBİM Social and Human Sciences Database.