Financial crisis and their effects on the Turkish banking system

Globalization of financial services in world in 1970?s caused and coincided with the financial crisis at the same period in the world. Since then the world economy has faced many different economic crisis in type and degrees but main charectaristics of all these crisis are they have been monetary-financial crisis.Globalization of financial system and integration of Turkish banking system to the world financial markets creates benefits and costs. One of the costs of financial integration to the world system is getting adverse effects of global crisis to the Turkish banking system. However, having a strong structure protected Turkish banking system against adverse financial shocks coming from the global system in latest global crisis. Turkish banking system has a strong structure because after the 2001 financial crisis the Turkish banking system was retructured and regulated.