GLOBAL ISSUESINTERNATIONAL REFLECTIONS OF ECONOMIC CRISIS

Ä°brahim Bora Oran ()
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Ä°brahim Bora Oran: Ä°stanbul Esenyurt University

JOURNAL OF LIFE ECONOMICS, 2020, vol. 7, issue 1, 41-58

Abstract: The aim of this study is to search impacts of economic crisis arising in some countries in the previous years in the world history and at globalization process on other countries, and differences between interactions in developed or developing countries. With this research, it is analyzed by the rates of change caused by crisis experienced in some countries on the economic data of both the country where the crisis arouse and the other countries. It targets to reveal the reflections observed in the economicand social perspective of the world as a result of the globalization. Primarily, information is given about economic crisis concept in general sense and major important crises arose in the world. Then, the biggest financial crises experienced namely 1929Great Depression and 2008 World Economic Crises are examined by taking differences among their outbreak reasons, impacts, outcomes and durations as sample. With this study, impacts of the crises in developed countries are evaluated particularly as downward trend in profitability rates, decrease in international commercial activities in the national economies in developing countries, decrease in production, falling exportation rates and economic difficulties in society on the other hand. The globalizationsystem is analyzed in terms of crises by searching the reflections of these crises in the background of downward trend created in the employment rates of countries.

Keywords: Economic Crises; Crisis Theories; Financial Crises (search for similar items in EconPapers)
JEL-codes: F6 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:jle:journl:v:7:y:2020:i:1:p:41-58

DOI: 10.15637/jlecon.7.004

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