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Economic Policy Economic Policy Responses to the Responses to the
Global Crisis : Global Crisis : The Case of The Case of
TurkeyTurkey
Emre KabaEmre Kaba
What Does the ‘Economic Crisis’ and Global Economic Crisis Mean ?
Economic
Political
Macro and Micro Results
What Does What Does ‘Economic ‘Economic
Crisis’ Mean for Crisis’ Mean for Turkey?Turkey?
National Revenue
Which sitiuations can react ‘crisis’ Which sitiuations can react ‘crisis’
and in long term, became as and in long term, became as
‘Economic Crises’.?‘Economic Crises’.?
Which sitiuations can react Which sitiuations can react
‘crisis’ and in long term, became ‘crisis’ and in long term, became
as ‘Economic Crises’.?as ‘Economic Crises’.?Real Economy – Goods and Services
Unreal Economy – Transaction and Indexes
Global, Financial and Global, Financial and
Economic Crises Economic Crises
‘mean’ all over the ‘mean’ all over the
worldworld Perspective Perspective
ofof TurkeyTurkey
Cause Cause andand EffectEffect MacroeconomicMacroeconomic results of results of
‘1999’ crisis‘1999’ crisisCash Flow
1-Gross national product (GNP) %growth
2-Growth of total domestic demand
4-Current account balance 3-Foreign trade deficit
5-Budget balance 6-Primary budget balance
Turkeys economy had devoluations.
In 1999, Turkey’s economic contraction
rate was 6.1%
and in 2001 was 9.5%
Economic crises after 2000’s
2001
Crisis2008
Crisis
Stability Program
Govrenment
Constitutional Court
Curruent transactions
Economic Crisis’s
Effects onEmployee’s And Social Life
In 2000, because of inflow of foreign capital, Turkey’s economy growth 6,3%
But this growth reasoned 4,9% curruent account deficit.
This reacted 14,5 billion dolars capital outflow.
That in 2001, capital outflow reacted economic contraction 935%
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