THE EFFECTS OF THE GLOBAL ECONOMIC CRISIS ON TURKEY’S ECONOMY AND THE RECENT TILT IN HER INTERNATIONAL RELATIONS

Özlen HİÇ BİROL

Makale detayları

THE EFFECTS OF THE GLOBAL ECONOMIC CRISIS ON TURKEY’S ECONOMY AND THE RECENT TILT IN HER INTERNATIONAL RELATIONS

Yazarlar:

Özlen HİÇ BİROL

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Business and Management Studies 2011 Vol.3 Issue 2, pp.227-236

Belge Tipi:

Makale

Yayın Tarihi:

11/2011

Belge Dili:

Türkçe

Document ID (Org No.):

2000809556

Sıklık:

İki Yıllık

eISSN:

1309-8047

Özet:

 

Turkey was one of the worst hit countries from the global crisis that started in
 September 2008. She had relied heavily on external financing by charging a high
 interest take. Her external debt and current account deficit had risen and the lira
 had become overvalued. Following the global crisis, the fall in the flow of
 financial funds, direct private investments (DPIs) as well as exports caused a
 great fall in her GNP. But though refusing to make a stand-by agreement with the
 IMF, she managed to relief relatively fast; gradually lowering the interest rate.
 As detailed statistics attest, before the years ‘90s and the onset of globalization
 her international economic relations had already started to diversify; with the
 share of Middle Eastern Islamic countries and Russia rising. After the 2008
 global crisis economic problems in many EU member countries put further brakes
 on the EU. Hence, Turkey was obliged to further diversify her exports, imports,
 inflow of financial flows, DPIs as well as her outflows; the latter including her
 construction undertakings. Therefore, much of the recent tilt in Turkey’s
 international economic relations can be considered an outcome of the
 globalization process, plus the recent global crisis, necessitated by economic
 factors.
 Yet many of the recent political moves that the Turkish government has made does
 not fit to the picture as an economic contingency. Major cases in point are
 Turkey’s over-reactionary hostiles toward Israel, over-support of Hamas and also
 of Iran plus the stackening of political reforms, hence membership negotiations
 with the EU. It is hard to explain all these excesses with plain economic
 contingencies. Evaluations vary; some foreign observers explain it as an effort by
 the Turkish government to act as a regional power, others put the major blame of 
 the cooling relations between Turkey and the EU. Still others may see it as a real
 political tilt towards more radical Muslim countries as well as emerging nonWestern
 powers. This is less a subject for economic research but one for political
 economy.

Makale detayları

THE EFFECTS OF THE GLOBAL ECONOMIC CRISIS ON TURKEY’S ECONOMY AND THE RECENT TILT IN HER INTERNATIONAL RELATIONS

Yazarlar: Özlen HİÇ BİROL

Yayıncı: Sosyal Bilimler Araştırmaları Derneği

Dergi: International Journal of Business and Management Studies 2011 Vol.3 Issue 2, pp.227-236

Belge Tipi: Makale

Yayın Tarihi: 11/2011

Belge Dili: Türkçe

Document ID (Org No.): 2000809556

Sıklık: İki Yıllık

eISSN: 1309-8047

Sayı

Yazarlar:

Özlen HİÇ BİROL

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Business and Management Studies 2011 Vol.3 Issue 2, pp.227-236

Belge Tipi:

Makale

Yayın Tarihi:

11/2011

Belge Dili:

Türkçe

Document ID (Org No.):

2000809556

Sıklık:

İki Yıllık

eISSN:

1309-8047