Socio-economic impacts of economic crises in Turkey

Economic crises have had many impacts on countries and societies' economical and political structure in different historical periods. From 1980s, with the accelaration of globalisation, transfer process of crises amongst countries has become easier than it was. Easy anf fast relocation process of capital made countries that have weak financial structure vulnerable against economic crises. Besides the impacts of economic crises on macroeconomy, socioeconomic impacts affect welfare and peace of societies. As a result of economic crises, unemployment rate increases, fair distrubition of income is disrupted, purchasing power decreases and generally welfare of society declines. The aim of this study is to examine the socioeconomic crises as well as their macroeconomic effects. In the first part of study, the concept and sorts of economic crises and socioeconomic effects were examined. In the second part of study, Turkish economy's development was demonstrated in the historical process. In the last part, the 1994,2001 and 2008 crises that led to devastating impact on economy and socioeconomic impacts that was created by these crises was analyzed.