The last three significant crises that faced in turkey’s economy and their effects to manufacturing sector

Abstract

For less developed countries, having short-term economic crisis is one of the most fundamental problems for the last 10-15 years. It is not an unusual event when we consider the crisis that has happened in less developed countries in previous periods. But in some aspects there are some main differences between these recent crisis and the previous ones .In previous crisis the main problems were about balance of foreign payments and inflation. On the other hand, the recent crisis has been related to the instability of the international capital movements that are the consequence of the steps for the liberality. Furthermore they impact finance markets, real sector and socioeconomic indicators. They affect not only the countries it emerged in, but also the whole world. Therefore it reaches a dimension that affects the international finance system. Recently the most important economical and financial short-term crisis emerged in Turkey are the ones that happened respectively in 1994, 2001 and 2008.The aim of this work is to evaluate and analyze these important crisis in the axis of the World, relating to Turkey.