The effect of 2008 global crisis on Turkish banking sector

Financial crisis has an essential place for global economies. The global crisis which have been faced, create serious results for national economies. Besides with the help of globalization the international finance market become integrated and however the crisis spread to other countries easily. In the middle of the year 2007, the problems which had became visible in American real estate market, grew larger and spreading from developed economies to the developing economies, the crisis had become global. The results of the crisis can be counted as, liquidity abundance, and therefore inelobarate credits, over securitization, lack of transparency, the ineffectiveness of ratings bureau, and the delay of interference of the regulatory body and supervisory agencies. The global crisis after consolidations, bankruptcies, and socialization have reflected to the real economy. In this study, the nature of the financial crisis is tried to be explained, the underlying reasons are determined, and how this crisis become global and how this effected the economic balance is tried to be presented. The destruction of Turkish and World economy, which was created by the crisis, is defined, the measures that are taken and that should be taken in order to overcome the crisis, are determined. After empirical studies in Turkey and in the world are researched, the domestic credit volume between 2002-2012/3, the amount of credit and the amount of money which Central Bank of Turkey gave to the banks, and the loan rate is researched through Vector Autoregressive Model (VAR). The data show that from credit volume, to credit and money amount, from credit loans to domestic credit volume, there are many casualties. The loan rate is the factor which effect the domestic credit volume more than itself in the long term. Thus, this show that the crisis is more active in the long term.