TY  - JOUR
TT  - Causes and Results of the Greek Debt Crisis: An Analysis with Artificial Neural Networks
AU  - Türk, Armağan
AU  - Erarslan, Cemil
PY  - 2016
DA  - April
DO  - 10.21547/jss.256726
JF  - Gaziantep Üniversitesi Sosyal Bilimler Dergisi
JO  - GAUN-JSS
PB  - Gaziantep Üniversitesi
WT  - DergiPark
SN  - 1303-0094
SP  - 281
EP  - 302
VL  - 15
IS  - 2
KW  - Yunanistan
KW  - Borç Krizi
KW  - Yapay Sinir Ağları
N2  - Starting in the United States in July 2007 as a subprime mortgage crisis, the  financial crisis has become global in 2009 after spreading to Eurozone member countries,  particularly Greece. In the 1950s, Greece was the poorest country among the EU-15  countries, while it has become a middle-income country among the EU-27 countries in the 2000s. Greece had three important breakpoints during this period. From the 1950s  until the late 1970s, Greece was tested by the oil shocks like the rest of the world, but it  was one of the best performers in the OECD and the best one in Europe in terms of  economic growth rate. This strong growth came to an end in 1981 and low and negative  growth rates continued until 1990. As a result of strong efforts in the 1990-93 periods,  significant growth rates restarted in 1995. However, the government that came to power  following the 2004 election, opposed to reforms implemented between 1990 and 1993  and public spending radically increased from this date. The deterioration of public  finances that led to unsustainable high budget deficits and public debt stocks increased  the vulnerability of the Greek economy to external shocks. This constitutes the main  reason behind the financial crisis that broke out in 2009 in Greece. This study aims to  empirically analyze the causes and consequences of the Greek debt crisis. The  econometric approach used in this study is "artificial neural networks". According to  estimation results, the basic determinants of the Greek crisis are high budget deficits,  increasing public sector debt, insufficient per capita savings rates, and low economic  growth.
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UR  - https://doi.org/10.21547/jss.256726
L1  - https://dergipark.org.tr/tr/download/article-file/223107
ER  -