Financial globalisation and economic crises Turkey sample after 1990

ABSTRACT FINANCIAL GLOBALISATION AND ECONOMIC CRISES, TURKEY SAMPLE AFTER 1990 YANAR, Rüstem M.A. Thesis, Department of Economics Supervisor: Prof. Dr. Ömer ABUŞO?LU July, 2000, 191 pages The aim of this study is to define interrelationship between capital flows and Financial Crises after 1990, in devoloping countries and analyse on Turkish economy. In 1980's, with spread of globalization, the developing countries which liberated capital markets without establishing basic substructure, received extremely short-term capital flows after 1990's. High votalitiy short term capital by creating bubbles in economy, increases consumptions and non-productive investments. Due to fixed exchange rate which overvalues national money, increases current account deficit. Short term capitals have been run away as reaction to the speculative attacts or economic or politic effects. That is the main reason for economic crises in last decade. Keywords: Short Term Capital Flows, Financial Liberalisation, Turkish Economy, Economic Crises, Developing Countries. Science Code: 1140