The effects of the Mortgage Crisis on the European debt crisis: Panel data analysis method

The main purpose of this study is to examine the effects of the morgage crisis which begans in the United States on the European debt crisis. The main hypothesis of this study is based on is effective the Mortgage Crisis on the European Debt Crisis through finance and trade channels. In the first part of the study, descibes the concept of crisis, crisis types and separation of these types theories of financial crisis and the financial crisis indicators. In the second section describes the basic concepts of the mortgage system and has been referred to its features and occurrence and history. afterwards the actors of the mortgage system, its implementation, types are described. The causes of the mortgage crisis, precautions taken and the crisis how it occurenced in the United States and has attempted to explain The third and final section focuses on the mortgage crisis effects in the European debt crisis. In order to explain the emerged European debt crisis, Selected four countries were inspected and these countries were analyzed as making panel data analysis. According to obtained the findings, in the selected countries the result has been reached for the mortgage crisis is one of the main factors that lead to European debt crisis. Keywords: Financial Crisis, Mortgage Crisis, the European Debt Crisis, Panel Data Analysis.