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THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS

Yıl 2009, Cilt: 1 Sayı: 1, 1 - 16, 01.06.2009

Öz

The economic crisis of 2000-2001 was proved to be demolishing for Turkey after the abundance of currency peg in the same year. The crisis in question stemmed from insufficient implementation of regulations, inadequate depth of the capital markets, lack of assessment of risk, excessive lending to incorporated institutions by national banks, restricted interest rates, monitored foreign exchange operations, limited foreign asset holding, lack of competition, barriers to foreign entry & high liquidity, chronic inflation and a deficit in balance of payments. However, the crisis that Turkey was subject to in 2008-2009 was quite different than the previous ones as to be a result of world matters. The sparking effect begun in the USA at the mortgage market, the fail of the mortgage market negatively influenced the capital, stock and derivative markets and spread the world. Thus, this study aims to analyze and reveal the reflections of the 2000-2001 and 2008-2009 crises and their comparison with regards to Turkey on theoretical basis resting on numerous comprehensive and credible national and international publications

Kaynakça

  • ALPER, Emre; BERUMET, Hakan; MALATYALI, Kamuran (2001); “The Effect of the Disinflation Program on the Structure of the Turkish Banking Sector”, Russian and East European
  • Finance and Trade, Vol. 7, N0. 6, pp. 81 – 95. BAHMANI – OSKOEE, Mohsen; KARACAL, Muge (2006); “The demand for money in Turkey and currency substitution”, Applied Economics Letters, Vol.13, pp. 635 – 642.
  • BLANCHARD, Olivier (2008); “Cracks in the System; Repairing the damaged global economy”,
  • Finance & Development, IMF Publications; December, pp. 8 – 10, www.imf.org (last visited 02.2009),
  • CİZRE, Ümit; YELDAN, Erinç (2005); “The Turkish Encounter with neo – liberalism: economics and politics in the 2000/2001”, Review of International Political Economy, Vol.12, No:3, pp. 387 – 408.
  • ÇAPOĞLU, Gökhan (2004); “Anatomy of a Failed IMF Program”, Emerging Markets, Finance and Trade, Vol.40, No:3, pp. 84 – 100.
  • EKİNCİ, Nazım Kadri; ERTÜRK, Korkut Alp (2007); “Turkish Currency Crisis of 2000 – 2001,
  • Revisited”, International Review of Applied Economics, Vol.21, No:1, pp. 29 – 41. EL – ERIAN (2008); “A Crisis to Remember; The case for modernizing the multilateral framework”, Finance & Development, IMF Publications; December, pp. 15 – 17, www.imf.org (last visited 20.02.2009),
  • EL-GAMAL, Mahmoud; INANOGLU, Hulusi (2005); “Inefficiency and Heterogeneity in Turkish
  • Banking: 1990 –2000”, Journal of Applied Econometrics, Vol. 20, pp. 641 – 664.
  • ERTÜRK, İsmail (2003); “GOVERNANCE OF FINANCIALIZATION: THE TURKISH CASE”,
  • Competition & Change, Vol.7, No:4, pp. 185 – 2004.
  • GÜNALP, Burak; ÇELİK, Tuncay (2006); “Competition in the Turkish banking industry”,
  • Applied Economics, Vol. 38, No: 11, pp. 1335 – 1342.
  • GÜNAY, Nur; TEKTAS, Arzu (2006); “Efficiency Analysis of the Turkish Banking Sector in Pre- crisis and Crisis Period: A DEA Approach”, Contemporary Economic Policy, Vol. 24, No. 3, pp. – 431.
  • GÜNÇAVDI, Öner; KÜÇÜKÇİFÇİ, Suat (2005); “Financial Reforms and the Decomposition of
  • Economic Growth: An Investigation of the Changing Role of Financial Sector in Turkey”, Review of Middle East Economics and Finance, Vol.3, No:1, pp. 63 – 86. KEYDER, Nur (2001); “The Aftermath of the Exchange Rate – Based Program and the November
  • Financial Crisis in Turkey”, Russian and East European Finance and Trade, Vol. 37, No:5, pp. 22 – 44. ÖZKAN; Gülçin (2005); “Currency and Financial Crises in Turkey 2000 – 2001: Bad
  • Fundamentals or Bad Luck”, World Economy, Vol.28, No.4, pp. 541 – 572. SACASA, Noel (2008); “Preventing Future Crisis; Priorities for regulatory reform after the meltdown”, Finance & Development, IMF Publications, December, pp.11 - 14; www.imf.org (last visited 20.02.2009),
  • SENGONUL, Ahmet; THORBECKE, Williem (2005); “The effect of monetary policy on bank lending in Turkey”; Applied Financial Economics, Vol. 15, pp. 931 – 934.
  • YILDIRIM, Canan (2002); “Evolution of banking efficiency with an unstable macroeconomic environment: the case of the Turkish commercial banks”, Applied Economics, Vol. 34, pp. 2289 –
  • YÖRÜK, Nevin; ERDEM, Cumhur; ERDEM, Meziyet Sema (2006); “Testing for linear and nonlinear Granger Causality in the stock price – volume relation: Turkish banking firms’ evidence”, Applied Financial Economics Letters, Vol.2, pp. 165 – 171.
  • Prospects & Recent Developments in the Turkish Economy, www.mfa.gov.tr, last visited 04.2009
  • Web page of the Turkish Statistical Institute, www.tuik.gov.tr, last visited 15.06.2009
  • Web page of the State Planning Organization of Turkey, www.dpt.gov.tr, last visited 15.06.2009
  • Web page of the Central Bank of Republic of Turkey, www.tcmb.gov.tr, last visited 15.06.2009
  • Web page of the Undersecretariat of Treasury, www.treasury.gov.tr, last visited 15.06.2009
  • Web page of the Undersecretariat of Foreign Trade, www.dtm.gov.tr, last visited 15.06.2009
  • Web page of the International Monetary Fund, www.imf.org, last visited 20.02.2009
Yıl 2009, Cilt: 1 Sayı: 1, 1 - 16, 01.06.2009

Öz

Kaynakça

  • ALPER, Emre; BERUMET, Hakan; MALATYALI, Kamuran (2001); “The Effect of the Disinflation Program on the Structure of the Turkish Banking Sector”, Russian and East European
  • Finance and Trade, Vol. 7, N0. 6, pp. 81 – 95. BAHMANI – OSKOEE, Mohsen; KARACAL, Muge (2006); “The demand for money in Turkey and currency substitution”, Applied Economics Letters, Vol.13, pp. 635 – 642.
  • BLANCHARD, Olivier (2008); “Cracks in the System; Repairing the damaged global economy”,
  • Finance & Development, IMF Publications; December, pp. 8 – 10, www.imf.org (last visited 02.2009),
  • CİZRE, Ümit; YELDAN, Erinç (2005); “The Turkish Encounter with neo – liberalism: economics and politics in the 2000/2001”, Review of International Political Economy, Vol.12, No:3, pp. 387 – 408.
  • ÇAPOĞLU, Gökhan (2004); “Anatomy of a Failed IMF Program”, Emerging Markets, Finance and Trade, Vol.40, No:3, pp. 84 – 100.
  • EKİNCİ, Nazım Kadri; ERTÜRK, Korkut Alp (2007); “Turkish Currency Crisis of 2000 – 2001,
  • Revisited”, International Review of Applied Economics, Vol.21, No:1, pp. 29 – 41. EL – ERIAN (2008); “A Crisis to Remember; The case for modernizing the multilateral framework”, Finance & Development, IMF Publications; December, pp. 15 – 17, www.imf.org (last visited 20.02.2009),
  • EL-GAMAL, Mahmoud; INANOGLU, Hulusi (2005); “Inefficiency and Heterogeneity in Turkish
  • Banking: 1990 –2000”, Journal of Applied Econometrics, Vol. 20, pp. 641 – 664.
  • ERTÜRK, İsmail (2003); “GOVERNANCE OF FINANCIALIZATION: THE TURKISH CASE”,
  • Competition & Change, Vol.7, No:4, pp. 185 – 2004.
  • GÜNALP, Burak; ÇELİK, Tuncay (2006); “Competition in the Turkish banking industry”,
  • Applied Economics, Vol. 38, No: 11, pp. 1335 – 1342.
  • GÜNAY, Nur; TEKTAS, Arzu (2006); “Efficiency Analysis of the Turkish Banking Sector in Pre- crisis and Crisis Period: A DEA Approach”, Contemporary Economic Policy, Vol. 24, No. 3, pp. – 431.
  • GÜNÇAVDI, Öner; KÜÇÜKÇİFÇİ, Suat (2005); “Financial Reforms and the Decomposition of
  • Economic Growth: An Investigation of the Changing Role of Financial Sector in Turkey”, Review of Middle East Economics and Finance, Vol.3, No:1, pp. 63 – 86. KEYDER, Nur (2001); “The Aftermath of the Exchange Rate – Based Program and the November
  • Financial Crisis in Turkey”, Russian and East European Finance and Trade, Vol. 37, No:5, pp. 22 – 44. ÖZKAN; Gülçin (2005); “Currency and Financial Crises in Turkey 2000 – 2001: Bad
  • Fundamentals or Bad Luck”, World Economy, Vol.28, No.4, pp. 541 – 572. SACASA, Noel (2008); “Preventing Future Crisis; Priorities for regulatory reform after the meltdown”, Finance & Development, IMF Publications, December, pp.11 - 14; www.imf.org (last visited 20.02.2009),
  • SENGONUL, Ahmet; THORBECKE, Williem (2005); “The effect of monetary policy on bank lending in Turkey”; Applied Financial Economics, Vol. 15, pp. 931 – 934.
  • YILDIRIM, Canan (2002); “Evolution of banking efficiency with an unstable macroeconomic environment: the case of the Turkish commercial banks”, Applied Economics, Vol. 34, pp. 2289 –
  • YÖRÜK, Nevin; ERDEM, Cumhur; ERDEM, Meziyet Sema (2006); “Testing for linear and nonlinear Granger Causality in the stock price – volume relation: Turkish banking firms’ evidence”, Applied Financial Economics Letters, Vol.2, pp. 165 – 171.
  • Prospects & Recent Developments in the Turkish Economy, www.mfa.gov.tr, last visited 04.2009
  • Web page of the Turkish Statistical Institute, www.tuik.gov.tr, last visited 15.06.2009
  • Web page of the State Planning Organization of Turkey, www.dpt.gov.tr, last visited 15.06.2009
  • Web page of the Central Bank of Republic of Turkey, www.tcmb.gov.tr, last visited 15.06.2009
  • Web page of the Undersecretariat of Treasury, www.treasury.gov.tr, last visited 15.06.2009
  • Web page of the Undersecretariat of Foreign Trade, www.dtm.gov.tr, last visited 15.06.2009
  • Web page of the International Monetary Fund, www.imf.org, last visited 20.02.2009
Toplam 29 adet kaynakça vardır.

Ayrıntılar

Diğer ID JA32FT75SY
Bölüm Makaleler
Yazarlar

Dilek Temiz Bu kişi benim

Aytaç Gokmen Bu kişi benim

Yayımlanma Tarihi 1 Haziran 2009
Yayımlandığı Sayı Yıl 2009 Cilt: 1 Sayı: 1

Kaynak Göster

APA Temiz, D., & Gokmen, A. (2009). THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS. International Journal of Social Sciences and Humanity Studies, 1(1), 1-16.
AMA Temiz D, Gokmen A. THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS. IJ-SSHS. Haziran 2009;1(1):1-16.
Chicago Temiz, Dilek, ve Aytaç Gokmen. “THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS”. International Journal of Social Sciences and Humanity Studies 1, sy. 1 (Haziran 2009): 1-16.
EndNote Temiz D, Gokmen A (01 Haziran 2009) THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS. International Journal of Social Sciences and Humanity Studies 1 1 1–16.
IEEE D. Temiz ve A. Gokmen, “THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS”, IJ-SSHS, c. 1, sy. 1, ss. 1–16, 2009.
ISNAD Temiz, Dilek - Gokmen, Aytaç. “THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS”. International Journal of Social Sciences and Humanity Studies 1/1 (Haziran 2009), 1-16.
JAMA Temiz D, Gokmen A. THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS. IJ-SSHS. 2009;1:1–16.
MLA Temiz, Dilek ve Aytaç Gokmen. “THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS”. International Journal of Social Sciences and Humanity Studies, c. 1, sy. 1, 2009, ss. 1-16.
Vancouver Temiz D, Gokmen A. THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS. IJ-SSHS. 2009;1(1):1-16.