The incidence of the global financial crisis revisited: Financial and trade linkages

Erdal Özmen; Fatma Taşdemir

doi:10.60165/metusd.v52i2.6

TR EN

The incidence of the global financial crisis revisited: Financial and trade linkages

Abstract

We investigate the main determinants of growth performance of emerging market and developing economies during the global financial crisis of 2008-2009. We consider financial and trade channels with a focus on the former. Our results suggest that pre-crisis levels of reserves, short-term debt, credit growth, financial depth, current account deficits, de jure and de facto financial openness, trade openness and the shares of manufacturing and services in GDP are all significant with theory-consistent expected signs in explaining the growth collapse. We further find that the impacts of the financial channel variables vary with the prevailing de facto exchange rate regimes.

Keywords

Emerging market economies, Developing economies, Global financial crisis, Financial channel, Trade linkages.

Ethical Statement

The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.

Thanks

We kindly request that our article be considered for the special issue to be published in memory of Prof. Dr. Güzin Erlat.

References

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Details

Primary Language

English

Subjects

Applied Macroeconometrics, International Finance, Macroeconomics (Other)

Journal Section

Research Article

Authors

Erdal Özmen
0000-0002-9333-8339
Türkiye

Fatma Taşdemir ^*
0000-0001-8706-7942
Türkiye

Publication Date

December 30, 2025

Submission Date

April 3, 2025

Acceptance Date

July 3, 2025

Published in Issue

Year 2025 Volume: 52 Number: 2

DOI

https://doi.org/10.60165/metusd.v52i2.6

IZ

https://izlik.org/JA23AC75NZ

APA

Özmen, E., & Taşdemir, F. (2025). The incidence of the global financial crisis revisited: Financial and trade linkages. ODTÜ Gelişme Dergisi, 52(2), 403-420. https://doi.org/10.60165/metusd.v52i2.6

AMA

1.Özmen E, Taşdemir F. The incidence of the global financial crisis revisited: Financial and trade linkages. METUSD. 2025;52(2):403-420. doi:10.60165/metusd.v52i2.6

Chicago

Özmen, Erdal, and Fatma Taşdemir. 2025. “The Incidence of the Global Financial Crisis Revisited: Financial and Trade Linkages”. ODTÜ Gelişme Dergisi 52 (2): 403-20. https://doi.org/10.60165/metusd.v52i2.6.

EndNote

Özmen E, Taşdemir F (December 1, 2025) The incidence of the global financial crisis revisited: Financial and trade linkages. ODTÜ Gelişme Dergisi 52 2 403–420.

IEEE

[1]E. Özmen and F. Taşdemir, “The incidence of the global financial crisis revisited: Financial and trade linkages”, METUSD, vol. 52, no. 2, pp. 403–420, Dec. 2025, doi: 10.60165/metusd.v52i2.6.

ISNAD

Özmen, Erdal - Taşdemir, Fatma. “The Incidence of the Global Financial Crisis Revisited: Financial and Trade Linkages”. ODTÜ Gelişme Dergisi 52/2 (December 1, 2025): 403-420. https://doi.org/10.60165/metusd.v52i2.6.

JAMA

1.Özmen E, Taşdemir F. The incidence of the global financial crisis revisited: Financial and trade linkages. METUSD. 2025;52:403–420.

MLA

Özmen, Erdal, and Fatma Taşdemir. “The Incidence of the Global Financial Crisis Revisited: Financial and Trade Linkages”. ODTÜ Gelişme Dergisi, vol. 52, no. 2, Dec. 2025, pp. 403-20, doi:10.60165/metusd.v52i2.6.

Vancouver

1.Erdal Özmen, Fatma Taşdemir. The incidence of the global financial crisis revisited: Financial and trade linkages. METUSD. 2025 Dec. 1;52(2):403-20. doi:10.60165/metusd.v52i2.6

The incidence of the global financial crisis revisited: Financial and trade linkages

KÜRESEL FİNANSAL KRİZİN ETKİSİNE YENİDEN BAKIŞ: FİNANSAL VE TİCARİ BAĞLANTILAR

Abstract

Keywords

The incidence of the global financial crisis revisited: Financial and trade linkages

Abstract

Keywords

Ethical Statement

Thanks

References

Details

Primary Language

Subjects

Journal Section

Authors

Publication Date

Submission Date

Acceptance Date

Published in Issue

DOI

IZ

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