The economic crises that Turkey experienced, their fiscal effects and public precautions: 2001 and 2008 crises

In this study , phenomenon of crisis will be analysed, the crises that have occurred in Turkey and effects of these will be mentioned. In the first section of the study, the crisis concept will be dwelt on, economic crisis consept,which is the subject matter, will be defined and the phenomenon of financial crisis will be detailed. At the end of the section, the models developed to explain the reasons of crises willl be dwelt on and approaches that try to interpret the reasons of crises will be analysed. In the second section, the changes in Turkish economy from 1980 towards today will be mentioned, afterwards the crises that Turkey experienced in 1994, 2001, 2008 and their features will be explained. Furthermore, 2001 and 2008 crises which are the main subject of our study, the reasons, sphere of influence, consequences and precautions that had been taken against these crises will be explained thoroughly. In the final section, the fiscal effects of 2001 and 2008 crises will be conducted, precautions that had been taken against them will be analysed by making a comparison between the two crises and conclusions will be established in terms of general economic situation of the country after both crises. The main goal of our study is to compare the impact of 2001 and 2008 crises by using cause and effect relation and examine the effectiveness of public precautions that had been taken against them. In the study, 2001 and 2008 crises, their reasons, precautions, macroeconomic variables and the general situation of Turkish economy after these crises will be compared and the possible measures that can be taken to prevent future crises will be put forward.