Empirical applications on researching the levels of affection from global crises according to the macroeconomic structures of developing and developed countries

In this study, the impact levels of selected developed and developing countries, classified according to OECD data, from the 2008 crisis according to their macroeconomic factors were investigated. In the study, firstly, the level of being affected by the crisis according to the macro factors of developed and developing countries and the dynamic relations of macroeconomic factors over time were examined. Then, according to which macroeconomic factors developed and developing countries were more affected by the crisis, it was investigated. The hypothesis of this study is that while underdeveloped and underdeveloped countries were more affected by the previous crises, developed countries may have been more affected by the 2008 Mortgage Crisis, which is one of the new generation financial crises. In the research, VAR Analysis method was applied by using quarterly unemployment rates, inflation rates, Current Account Deficit/GDP, FDI/GDP data of 18 developed and 13 developing countries between 2008-2019. According to the findings obtained as a result of the analysis, it was determined that developing countries were affected more strongly in the first periods following the crisis according to the unemployment factor, but developed countries were affected more than developing countries in the following periods. According to the findings obtained according to the inflation rate factor, it is seen that the developing countries react more strongly in all periods in the (-) direction compared to the developed countries, and that the reaction of the developed countries is in the (+) direction in all periods and the severity of the reaction decreases over time. When we look at the level of being affected by the crisis according to the level of foreign direct investment, it is understood that after the realization of the crisis, the capital shifted from developed countries to developing countries. Considering the level of being affected by the crisis according to the current account balance/GDP variable, it is seen that developing countries were affected more strongly than developed countries in all periods.