International political crisis and it's economic impacts: The case of Turkey-Russia aircraft crisis

In this thesis we tried to answer two questions: how do dependencies shape the economic affects of political crises? and relatedly how the dependencies between Turkey and Russia shaped the economic impacts of the Russian jet crisis? To study this, we initially wrote a literature review trying to unfold the transformation of political crises into economic crises and the role dependencies play in the occurance of the relevant impact. Following this, in the historical background section, we reviewed the history of economic relations between Turkey and Russia and the development of dependencies between the two countries. In the analysis chapter, finally, we examined the affects of the jet crisis on four economic sectors, namely, foreign trade, foreign direct investment, tourism and energy. Within the study we adopted qualitative research methodology and utilized various sources and statistics related to the economic relations between Turkey and Russia. In our examination, it is seen that politics and economy affect each other in a serious way and therefore international political crises may generally have a negative impact on inter-state economic relations despite the interdependence.