Three essays on 2008 global financial crisis

This thesis aims to examine the dynamics and economic effects of financial crises, with a particular focus on the repercussions of the 2008 Global Financial Crisis in Turkey and globally. The study is divided into three sections. The first section addresses the types, causes, and consequences of financial crises, and evaluates the effects of financial crises in the world and Turkey from a historical perspective. In addition to the global and local impacts of these crises, the regional ramifications of financial crises are also examined. In the second section, the relationship between the 2008 Global Financial Crisis, the BIST 100 index in Turkey, oil prices, gold prices, and exchange rates is analyzed using the ARDL model. The study examines how these relationships changed across three different periods: pre-crisis, crisis, and post-crisis. This analysis aims to understand the effects on Turkey's financial markets and explain investor behavior during these periods. The third section investigates the relationship between bond yields, oil prices, gold prices, and exchange rates for both EU member and non-member OECD countries during the period 2005-2012, using panel data analysis. The study focuses on two groups of countries and explores how the effects of the crisis differed between these groups. In conclusion, the study highlights the profound effects of financial crises on both global and national economies, as well as the regional differences in the impacts of the crisis.