Publication: 2001 krizi sonrası Türk finans sektöründe yaşanan gelişmeler
Abstract
Türkiye 1970'lerin sonunda derin bir ödemeler dengesi ve finansal krize karşılık olarak dışa açık bir politika uygulamaya başlamış ve 1989 yılında ise sermaye hesabını da tamamen açmıştır.Sermaye piyasasını açmış olan birçok diğer yükselen piyasalarda olduğu gibi, finans piyasası, faiz oranları ve döviz kurları, Türkiye'de de uluslararası sermaye akımlarında yaşanan dalgalanmalara paralel olarak dalgalanmalar göstermiştir. Gerek uluslararası dalgalanmalar gerekse Türkiye ekonomisinin zaafiyetleri ( yüksek enflasyon, artan işsizlik, artan cari işlemler açığı gibi) krizlerin doğmasında etkili olmuştur. Yaşanan krizler içinde Türkiye ekonomisinin en çok küçüldüğü kriz ( yaklaşık %9,5 ) 2001 krizidir.Bu çalışmada, 2001 krizi ve sonrası süreç ele alınmıştır.Kriz sonrası ekonomik göstergelerde olumlu gelişmeler olmasına rağmen işsizlikte önemli bir azalma olmamıştır ve giderek diğer parametrelerde bozulma artmaktadır.Bu açıdan enflasyon,işsizlik, cari açık gibi ekonomikl göstergelerde düzeltilmeye gidilmesinin yanısıra özellikle 2001 krizi ile ön plana çıkan finansal kurumların denetim ve düzenlenmesi konusu da güçlü bir ekonomi için gerekli temel unsurlardır.
Due to the huge current account deficits and financial crisis occurred in the latest 1970s, Turkey has begun to adopt itself to an open economy and in 1989 fully-opened the capital accounts. As many other emerging markets entered to an open economy and enlarged their capital markets, Turkey has faced a substantial volatility in financial markets, interest rates, exchange rates, etc in parallel to the developments in the international capital markets. The volatility in global markets together with the fundamental problems of Turkish economy like chronic inflation, rising unemployment, current account deficit, etc. has triggered crisis in Turkey. In 2001, Turkey has experienced a dramatic economic crisis leading the economy to contract 9.5%. Within this study, the crisis in 2001 and its consequences has been evaluated. Although some certain improvements took place in the Turkish economy, unemployment continued to be a major issue. Furthermore, deterioration has begun in some other economic indicators in the recent years. In this perspective, the “regulations for financial institutions” gain importance together with the macro economic fundamentals like inflation, unemployment and current account deficit to reach a strong and stable economy.
Due to the huge current account deficits and financial crisis occurred in the latest 1970s, Turkey has begun to adopt itself to an open economy and in 1989 fully-opened the capital accounts. As many other emerging markets entered to an open economy and enlarged their capital markets, Turkey has faced a substantial volatility in financial markets, interest rates, exchange rates, etc in parallel to the developments in the international capital markets. The volatility in global markets together with the fundamental problems of Turkish economy like chronic inflation, rising unemployment, current account deficit, etc. has triggered crisis in Turkey. In 2001, Turkey has experienced a dramatic economic crisis leading the economy to contract 9.5%. Within this study, the crisis in 2001 and its consequences has been evaluated. Although some certain improvements took place in the Turkish economy, unemployment continued to be a major issue. Furthermore, deterioration has begun in some other economic indicators in the recent years. In this perspective, the “regulations for financial institutions” gain importance together with the macro economic fundamentals like inflation, unemployment and current account deficit to reach a strong and stable economy.