Anti-crisis policies after 1980 in Turkey macroeconomic performance

The countries of the world faced economic crises for various reasons after 1980. These crises were; the 1994 Mexican crisis, 1997 Southeast Asian crisis, 1998 Russian crisis, 1999 Brazilian crisis, 2001 Argentina crisis, and 2008 global economic crisis. Problems that may cause crises in the world economy and in Turkey have been tried to be solved. The foundations of the banking sector have been consolidated, and crisis management and crisis early warning systems have begun to be developed. Even though Turkey did not experience these crises directly, the Turkish economy was damaged indirectly. There were also crises in Turkey due to economic and political reasons. Post-1980 crises in Turkey were; the 1994 crisis, 2001 crisis, and 2008 global economic crisis. Although the causes and consequences of these economic crises are similar, it cannot be said that the crises are the same. This study, examines the crises that occurred in the Turkish economy after 1980. The reasons for the emergence of these crises, their development, macroeconomic indicators in the economy, and the measures implemented after the crisis were discussed. The main macroeconomic variables before, during, and after the economic crises experienced in Turkey after 1980 were analyzed. In this thesis, an econometric model was established for Turkey in order to determine its relationship with the crisis. The general macroeconomic variables selected in the study were examined by creating the ADF unit root test and ARDL boundary model. Selected variables are; gross domestic product (gdp) per capita, domestic credit to private sector by banks, gross fixed capital investment (gfcf), broad money (m3), government spending (gov) and trade opennes. As a result of the study, it was determined that the anti-crisis policies after the 1994 and 2008 crises were not effective, yet the policies implemented together with the structural transformation after the 2001 crisis had a positive effect on economic growth.