Araştırma Makalesi
BibTex RIS Kaynak Göster

Market Failures In Economic Schools and Financial Crisis Approach: A Post Keynesian Analysis On The 2001 Financial Crisis In Turkey

Yıl 2019, , 95 - 105, 24.06.2019
https://doi.org/10.18506/anemon.462995

Öz

Financial
crisis approach in the macroeconomic analysis is based on the different assumptions
of economic thought schools. In this paper, the financial crisis approach is
investigated for the 2001 financial crisis, which is one of the most severe
financial crises the Turkish economy experienced, in the Post Keynesian
economic thought framework in a comparative way. Generally, the Post Keynesian
economic thought has a more comprehensive and alternative approach for the 2001
financial crisis in the Turkish economy and described the main reasons for this
crisis in a better way.  

Kaynakça

  • Allsopp, V. (2002). Trust, Time and Uncertainty. İçinde: S.C. Dow & J. Hillard (Ed.) Post Keynesian Econometrics, Microeconomics and the Theory of the Firm (s.81-96), Cheltenham: Edward Elgar Publishing.
  • Asensio, A. (2013). The Achilles' Heel Of The Mainstream Explanations of the Crisis and a Post Keynesian Alternative. Journal of Post Keynesian Economics, 36 (2), 355-380.
  • Bry, G. & Boschan, C. (1971).Cyclical Analysis of Time Series: Selected Procedures and Computer Programs. NBER: New York.
  • Crotty, J. (2009).Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’.Cambridge Journal of Economics, 33 (4), 563–580.
  • Christiano, L.J; Eichenbaum, M.S. ve Trabandt, M. (2018). On DSGE Models. Journal of Economic Perspectives, 32 (3), 113-140.
  • Davidson, P. (1972).Money and the Real World, London: Macmillan.
  • Davidson, P. (2002). Financial Markets, Money and the Real World. Cheltenham: Edward Elgar.
  • Davidson, P. (2007). John Maynard Keynes. Palgrave Macmillan: Basingstoke.
  • Doruk, Ö. T. (2011) .Post Keynezyen İktisadi Birey ve Post Keynezyen İktisat Metodolojisinde Krizlerin Dinamikleri Üzerine Yazınsal Bir İnceleme: 1929 ve 2008 Krizi Karşılaştırması. İçinde:İ. Şiriner., F. Morady, J. Mika, M. Aydın, Ş.A., H. Kapucu, ve E. Doğan (Ed.) Politik İktisat, Kriz ve Kalkınma (s.87-106). Londra: IJOPEC Publication.
  • Dow, S. (2008). Mainstream Methodology, Financial Markets, and Global Political Economy. Contributions to Political Economy, 27(1), 13–29.
  • Dunn, S.P. (2002). A Post Keynesian Approach to the Theory of the Firm. İçinde: S.C. Dow & J. Hillard (Ed.) Post Keynesian Econometrics, Microeconomics and the Theory of the Firm (s.60-80), Cheltenham: Edward Elgar Publishing.
  • Galbraith, J.K.(1993).A Short History of Financial Euphoria. Houghton Mifflin:Boston.
  • Gezici, A. (2007). Investment under Financial Liberalization: Channels of Liquidity and Uncertainty. Ph.D. Dissertation, University of Massachusetts Amherst.
  • Gorton, G. (2010). E-coli, Repo Madness, and the Financial Crisis.Business Economics,45(3), 164-173.
  • Hung, F.-S.& Lee, C.-C. (2010).Asymmetric Information, Government Fiscal Policies, And Financial Development.Economic Development Quarterly, 24(1), 60-73
  • Jespersen, J. (2009). Macroeconomic Methodology A Post-Keynesian Perspective. Edward Elgar: Cheltenham
  • Johnson, L.E; Ley,R., & Cate, T. (2001).Keynes' Theory of Money and His Attack on the Classical Model. International Advances in Economic Research, 7 (4), 409- 418.
  • Keen, S. (2013). Predicting the ‘Global Financial Crisis’: Post‐Keynesian Macroeconomics. Economic Record, 89(285), 228-254.
  • Keynes, J. M. (1936). The General Theory of Money, Interest and Employment. London: Macmillan
  • Lavoie, M. (2016). Understanding the Global Financial Crisis: Contributions of Post-Keynesian Economics.Studies in Political Economy, 97, 58-75.
  • Minsky, H. P.(1992).The Financial Instability Hypothesis. Levy Institute Çalışma Tebliği no. 74.
  • Mishkin,F. S.(1996). Understanding Financial Crises : A Developing Country Perspective. NBER Çalışma Tebliği no.5600
  • Modigliani, F. & Miller, M. H. (1958).The Cost of Capital, Corporation Finance and the Theory of Investment.The American Economic Review, 48 (3), 261-297.
  • Palley, T.I. (1993). Uncertainty, Expectations, and the Future: If We Don't Know the Answers, What Are the Questions? Journal of Post Keynesian Economics, 16(1),3-18.
  • Romer, D. (1993). The New Keynesian Synthesis.The Journal of Economic Perspectives, 7 (1), 5-22
  • Stiglitz, J. (2010). Risk and Global Economic Architecture: Why Full Financial Integration may be Undesirable. NBER Çalışma Tebliği no. 15718.
  • Stiglitz, J. (2017). Where Modern Macroeconomics Went Wrong. (Erişim: 08.11.2018) https://www.ineteconomics.org/uploads/papers/Where-Modern-Macroeconomics-Went-Wrong.pdf
  • Wecker, W. (1979). Predicting the Turning Points of a Time Series.Journal of Business, 52, 35-50.
  • Wolfson, M. H. (1996). A Post Keynesian Theory of Credit Rationing.Journal of Post Keynesian Economics,18(3),443-470.

İktisat Okullarında Piyasa Başarısızlıkları Ve Finansal Kriz Yaklaşımı: Türkiye’de 2001 Finansal Krizi Üzerine Post Keynesyen Bir Analiz

Yıl 2019, , 95 - 105, 24.06.2019
https://doi.org/10.18506/anemon.462995

Öz

Finansal
kriz yaklaşımı, makro iktisadi analizde iktisat okulları tarafından farklı
varsayımlara dayanmaktadır. Bu çalışmada finansal kriz yaklaşımı, Post
Keynesyen iktisat okulu çerçevesinde Türkiye ekonomisinde yaşanan en ağır
finansal krizlerden birisi olan 2001 finansal krizi açısından karşılaştırmalı
olarak incelenmektedir. Genel itibariyle Post Keynesyen iktisat okulunun
Türkiye ekonomisinde 2001 finansal krizini açıklamada alternatif bir yaklaşıma
sahip olduğu ve krizin ana nedenlerini daha iyi açıkladığı görülmektedir.

Kaynakça

  • Allsopp, V. (2002). Trust, Time and Uncertainty. İçinde: S.C. Dow & J. Hillard (Ed.) Post Keynesian Econometrics, Microeconomics and the Theory of the Firm (s.81-96), Cheltenham: Edward Elgar Publishing.
  • Asensio, A. (2013). The Achilles' Heel Of The Mainstream Explanations of the Crisis and a Post Keynesian Alternative. Journal of Post Keynesian Economics, 36 (2), 355-380.
  • Bry, G. & Boschan, C. (1971).Cyclical Analysis of Time Series: Selected Procedures and Computer Programs. NBER: New York.
  • Crotty, J. (2009).Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’.Cambridge Journal of Economics, 33 (4), 563–580.
  • Christiano, L.J; Eichenbaum, M.S. ve Trabandt, M. (2018). On DSGE Models. Journal of Economic Perspectives, 32 (3), 113-140.
  • Davidson, P. (1972).Money and the Real World, London: Macmillan.
  • Davidson, P. (2002). Financial Markets, Money and the Real World. Cheltenham: Edward Elgar.
  • Davidson, P. (2007). John Maynard Keynes. Palgrave Macmillan: Basingstoke.
  • Doruk, Ö. T. (2011) .Post Keynezyen İktisadi Birey ve Post Keynezyen İktisat Metodolojisinde Krizlerin Dinamikleri Üzerine Yazınsal Bir İnceleme: 1929 ve 2008 Krizi Karşılaştırması. İçinde:İ. Şiriner., F. Morady, J. Mika, M. Aydın, Ş.A., H. Kapucu, ve E. Doğan (Ed.) Politik İktisat, Kriz ve Kalkınma (s.87-106). Londra: IJOPEC Publication.
  • Dow, S. (2008). Mainstream Methodology, Financial Markets, and Global Political Economy. Contributions to Political Economy, 27(1), 13–29.
  • Dunn, S.P. (2002). A Post Keynesian Approach to the Theory of the Firm. İçinde: S.C. Dow & J. Hillard (Ed.) Post Keynesian Econometrics, Microeconomics and the Theory of the Firm (s.60-80), Cheltenham: Edward Elgar Publishing.
  • Galbraith, J.K.(1993).A Short History of Financial Euphoria. Houghton Mifflin:Boston.
  • Gezici, A. (2007). Investment under Financial Liberalization: Channels of Liquidity and Uncertainty. Ph.D. Dissertation, University of Massachusetts Amherst.
  • Gorton, G. (2010). E-coli, Repo Madness, and the Financial Crisis.Business Economics,45(3), 164-173.
  • Hung, F.-S.& Lee, C.-C. (2010).Asymmetric Information, Government Fiscal Policies, And Financial Development.Economic Development Quarterly, 24(1), 60-73
  • Jespersen, J. (2009). Macroeconomic Methodology A Post-Keynesian Perspective. Edward Elgar: Cheltenham
  • Johnson, L.E; Ley,R., & Cate, T. (2001).Keynes' Theory of Money and His Attack on the Classical Model. International Advances in Economic Research, 7 (4), 409- 418.
  • Keen, S. (2013). Predicting the ‘Global Financial Crisis’: Post‐Keynesian Macroeconomics. Economic Record, 89(285), 228-254.
  • Keynes, J. M. (1936). The General Theory of Money, Interest and Employment. London: Macmillan
  • Lavoie, M. (2016). Understanding the Global Financial Crisis: Contributions of Post-Keynesian Economics.Studies in Political Economy, 97, 58-75.
  • Minsky, H. P.(1992).The Financial Instability Hypothesis. Levy Institute Çalışma Tebliği no. 74.
  • Mishkin,F. S.(1996). Understanding Financial Crises : A Developing Country Perspective. NBER Çalışma Tebliği no.5600
  • Modigliani, F. & Miller, M. H. (1958).The Cost of Capital, Corporation Finance and the Theory of Investment.The American Economic Review, 48 (3), 261-297.
  • Palley, T.I. (1993). Uncertainty, Expectations, and the Future: If We Don't Know the Answers, What Are the Questions? Journal of Post Keynesian Economics, 16(1),3-18.
  • Romer, D. (1993). The New Keynesian Synthesis.The Journal of Economic Perspectives, 7 (1), 5-22
  • Stiglitz, J. (2010). Risk and Global Economic Architecture: Why Full Financial Integration may be Undesirable. NBER Çalışma Tebliği no. 15718.
  • Stiglitz, J. (2017). Where Modern Macroeconomics Went Wrong. (Erişim: 08.11.2018) https://www.ineteconomics.org/uploads/papers/Where-Modern-Macroeconomics-Went-Wrong.pdf
  • Wecker, W. (1979). Predicting the Turning Points of a Time Series.Journal of Business, 52, 35-50.
  • Wolfson, M. H. (1996). A Post Keynesian Theory of Credit Rationing.Journal of Post Keynesian Economics,18(3),443-470.
Toplam 29 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Araştırma Makalesi
Yazarlar

Ömer Tuğsal Doruk 0000-0002-2382-1042

Yayımlanma Tarihi 24 Haziran 2019
Kabul Tarihi 27 Kasım 2018
Yayımlandığı Sayı Yıl 2019

Kaynak Göster

APA Doruk, Ö. T. (2019). İktisat Okullarında Piyasa Başarısızlıkları Ve Finansal Kriz Yaklaşımı: Türkiye’de 2001 Finansal Krizi Üzerine Post Keynesyen Bir Analiz. Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi, 7(3), 95-105. https://doi.org/10.18506/anemon.462995

Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi Creative Commons Atıf-GayriTicari 4.0 Uluslararası Lisansı (CC BY NC) ile lisanslanmıştır.