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%