Araştırma Makalesi
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2000-2001 TÜRKİYE EKONOMİK KRİZİ’NE FAKLI BİR BAKIŞ: ASİMETRİK BİLGİ TEORİSİ ÇERÇEVESİNDE BİR DEĞERLENDİRME

Yıl 2018, Cilt: 13 Sayı: 2, 363 - 385, 01.10.2018
https://doi.org/10.17550/akademikincelemeler.426158

Öz

1980’li yıllarda başlayan finansal liberalizasyon süreçleriyle birlikte, Türkiye ve diğer gelişmekte olan ülkelerde irili ufaklı çok sayıda finansal dalgalanma yaşanmıştır. Günümüze kadar olan periyodda, bu dalgalanmalardan ülkemiz açısından en şiddetli olanı şüphesiz, 2000-2001 döneminde yaşanan bankacılık ve para krizidir. Bu çalışmada, ülke ekonomisinde yol açtığı büyük hasarların ve krize yol açan majör faktörlerin değerlendirilmesi açısından akademik literatürde büyük ilgi gören Türkiye 2000-2001 Krizi asimetrik bilgi teorisi çerçevesinde değerlendirilmiş; finansal liberalizasyon, makro-ekonomik göstergelerdeki olumsuzluklar, mevduat sigortası uygulaması, ahlaki risk problemi ve bankacılık sektörü bilançolarındaki bozulmalar gibi krizlerde tetikleyici etkisi olduğu düşünülen faktörler ele alınmış; oldukça şiddetli bir şekilde yaşanan ekonomik krizin teoriyle olan tutarlılığı irdelenmiştir.  

Kaynakça

  • Akyüz, Y., & Boratav, K. (2002). The Making of the Turkish Financial Crisis. United Nations Conference on Trade and Development, Discussion Papers, No: 158, 1-39.
  • Allen, M., Rosenberg, C., Keller, C., Setser, B., & Roubini, N. (2002). A Balancesheet Approach to Financial Crises. IMF Working Paper, 02/210, 1-64.
  • Alper, C. E. (2001). The Turkish Liquidity Crisis of 2000: What Went Wrong?. Russian and East European Finance and Trade, 37(6), 51-71.
  • Arı, A., & Dağtekin, R. (2008). Early Warning Signals of the 2000/2001 Turkish Financial Crisis. International Journal of Emerging and Transition Economies, 1(8), 191-218.
  • Celasun, M. (2002). 2001 Krizi, Öncesi ve Sonrası: Makroekonomik Bir Değerlendirme. University of Utah, 1-56.
  • Chang, M. and Velasco, A. (2000). Financial Fragility and Exchange Rate Regime. Journal of Economic Theory, 92(1). 1-34.
  • Çolak, Ö.F. (2001). Finansal Kriz ve Bankacılık Sektöründe Yeniden Yapılandırma Programı Üzerine Bir Eleştiri. G.Ü İ.İ.B.F Dergisi, 15-30.
  • Demirgüç-Kunt, A., & Detragiache, E. (1998). The Determinants of Banking Crises: Evidence from Developing and Developed Contries. IMF Staff Papers, 45(1), 81-110.
  • Eichengreen, B. (2001). Crisis Prevention and Management: Any New Lessons from Argentina and Turkey. Background Paper for the World Bank’s Global Development Finance 2002, 1-35.
  • Ghosh, A. (2006). Capital Account Crises: Lessons for Crisis Prevention. IMF, Prepared for the High Level Seminar on Crisis Prevention, Singapore, 1-24.
  • 2000-2001 Türkiye Ekonomik Krizi’ne Faklı Bir Bakış: Asimetrik Bilgi Teorisi Çerçevesinde Bir Değerlendirme Journal of Academic Inquiries 383 Volume 13 – Issue 2 (October 2018).
  • Günçavdı, Ö., & Küçükçiftçi, S. (2002). Financial Reforms and the Decomposition of Economic Growth: An investigation of the Changing Role of the Financial Sector in Turkey. University of Utah, 1-30.
  • Keyder, N. (2001). The Aftermath of the Exchange Rate-Based Program and the November 2000 Financial Crisis in Turkey. Russian and East European Finance and Trade, 37(5), 22-44.
  • Mishkin, F. (1990). Asymmetric Information and Financial Crises: A Historical Perspective. NBER Working Paper 3400, 1-42.
  • Mishkin, F. (1991). Anatomy of a Financial Crisis, NBER Working Paper 3934, 1-28.
  • Mishkin, F. (1994). Preventing Financial Crises: An International Perspective. NBER Working Paper 4636, 1-44.
  • Mishkin, F. (1996). Understanding Financial Crises: A Developing Country Perspective. NBER Working Paper 5600, 1-45.
  • Mishkin, F. (1998). The Dangers of Exchange-Rate Pegging in Emerging Market Countries. International Finance, (1), 81-101.
  • Mishkin, F. (1999a). Lessons from the Asian Crisis. NBER Working Paper 7102, 1-25.
  • Mishkin, F. (1999b). Lessons from the Tequila Crisis. Journal of Banking&Finance, (23), 1521-1533.
  • Mishkin, F. (2000a). Comment on “The Onset of the East Asian Financial Crisis”. NBER Working Paper, 153-161.
  • Mishkin, F., & Hahm, J.H. (2000b). Causes of the Korean Financial Crisis: Lessons for Policy. NBER Working Paper 7483, 1-79.
  • Esra N. KILCI 384 Akademik İncelemeler Dergisi Cilt 13 – Sayı 2 (Ekim 2018)
  • Mishkin, F. (2001a). “Financial Policies and the Prevention of Financial Crises in Emerging Market Countries”. NBER Working Paper 8087, January 2001, 1-42.
  • Mishkin, F. (2001b). “Prudential Supervision. Why is Important and What are the Issues?” in Mishkin, F. (ed.), Prudential Supervision. What Works and What Doesn’t?. NBER
  • Conference Report, The University of Chicago Press
  • Mishkin, F. (2005). Is Financial Globalization Beneficial?. NBER Working Paper 11891, December 2005, 1-52.
  • Mishkin, F. (2007). “Will Monetary Policy Become More of a Science?”. NBER Working Paper, 13566, 1-41.
  • Mishkin, F. (2008). Speech on “Monetary Policy Flexibility, Risk Management and Financial Disruptions” at the Federal Reserve Bank of New York, 1-7.
  • Mishkin, F. (2009). Is Monetary Policy Effective During Financial Crises?. NBER Working Paper 14678, 1-17.
  • Mishkin, F. (2010). Comment on “Monetary Rules in Emerging Economies with Financial Market Imperfections, NBER, 311-317. Özatay, F., & Sak, G. (2002). Banking Sector Fragility and Turkey’s 2000-01 Financial Crisis, The Central Bank of Republic of Turkey. Research Department Discussion Paper, 1-39.
  • Özkan, F. G. (2005). Currency and Financial Crises in Turkey 2000-2001: Bad Fundamentals or Bad Luck?. The World Economy, 28(4), 541-572.
  • Radelet, S. and Sachs, J. (1998). The East Asian Financial Crisis: Diagnosis, Remedies, Prospects. Brookings Papers on Economic Activity, (1), 1-87.
  • 2000-2001 Türkiye Ekonomik Krizi’ne Faklı Bir Bakış: Asimetrik Bilgi Teorisi Çerçevesinde Bir Değerlendirme Journal of Academic Inquiries 385 Volume 13 – Issue 2 (October 2018).
  • Uygur, E. (2001). Krizden Krize Türkiye: 2000 Kasım ve 2001 Şubat Krizleri. Türkiye Ekonomi Kurumu Tartışma Metni, 1-40.
  • Yay, G. G. (2001). 1990’lı yıllardaki Finansal Krizler ve Türkiye Krizi. Yeni Türkiye Ekonomik Kriz Özel Sayısı II, 42, 1234-1248.
  • Yeldan, E. (2002). Behind the 2000/2001 Turkish Crisis: Stability, Credibility and Governance for Whom?. Paper presented at the IDEAS Conference, Chennai, 1-22.
  • Yilmazkuday, H. (2008). Twin Crises in Turkey, A Comparison of Currency Crisis Models. The European Journal of Comparative Economics, 5(1), 107-124.

A Different Perspective to 2000-2001 Turkish Economic Crisis: A Review in the Framework of Asymmetric Information Theory

Yıl 2018, Cilt: 13 Sayı: 2, 363 - 385, 01.10.2018
https://doi.org/10.17550/akademikincelemeler.426158

Öz

With financial liberalization processes which started during the 1980’s, Turkey and the other emerging market economies have experienced many financial volatilities. From past to present, the most severe of these for Turkey is certainly the banking and currency crisis experienced in the period of 2000-2001. In tis study, the Turkish 2000-2001 Crisis, which takes special attention in academic literature in terms of their results and the economic damages, are analyzed under the asymmetric information theory; the factors which are thought to trigger in crises such as financial liberalization, negative macro-economic indicators, deposit insurance, moral hazard problem and deterioration in the banking sector balance-sheets are evaluated and the consistency of this severe crisis with the theory is investigated. 

Kaynakça

  • Akyüz, Y., & Boratav, K. (2002). The Making of the Turkish Financial Crisis. United Nations Conference on Trade and Development, Discussion Papers, No: 158, 1-39.
  • Allen, M., Rosenberg, C., Keller, C., Setser, B., & Roubini, N. (2002). A Balancesheet Approach to Financial Crises. IMF Working Paper, 02/210, 1-64.
  • Alper, C. E. (2001). The Turkish Liquidity Crisis of 2000: What Went Wrong?. Russian and East European Finance and Trade, 37(6), 51-71.
  • Arı, A., & Dağtekin, R. (2008). Early Warning Signals of the 2000/2001 Turkish Financial Crisis. International Journal of Emerging and Transition Economies, 1(8), 191-218.
  • Celasun, M. (2002). 2001 Krizi, Öncesi ve Sonrası: Makroekonomik Bir Değerlendirme. University of Utah, 1-56.
  • Chang, M. and Velasco, A. (2000). Financial Fragility and Exchange Rate Regime. Journal of Economic Theory, 92(1). 1-34.
  • Çolak, Ö.F. (2001). Finansal Kriz ve Bankacılık Sektöründe Yeniden Yapılandırma Programı Üzerine Bir Eleştiri. G.Ü İ.İ.B.F Dergisi, 15-30.
  • Demirgüç-Kunt, A., & Detragiache, E. (1998). The Determinants of Banking Crises: Evidence from Developing and Developed Contries. IMF Staff Papers, 45(1), 81-110.
  • Eichengreen, B. (2001). Crisis Prevention and Management: Any New Lessons from Argentina and Turkey. Background Paper for the World Bank’s Global Development Finance 2002, 1-35.
  • Ghosh, A. (2006). Capital Account Crises: Lessons for Crisis Prevention. IMF, Prepared for the High Level Seminar on Crisis Prevention, Singapore, 1-24.
  • 2000-2001 Türkiye Ekonomik Krizi’ne Faklı Bir Bakış: Asimetrik Bilgi Teorisi Çerçevesinde Bir Değerlendirme Journal of Academic Inquiries 383 Volume 13 – Issue 2 (October 2018).
  • Günçavdı, Ö., & Küçükçiftçi, S. (2002). Financial Reforms and the Decomposition of Economic Growth: An investigation of the Changing Role of the Financial Sector in Turkey. University of Utah, 1-30.
  • Keyder, N. (2001). The Aftermath of the Exchange Rate-Based Program and the November 2000 Financial Crisis in Turkey. Russian and East European Finance and Trade, 37(5), 22-44.
  • Mishkin, F. (1990). Asymmetric Information and Financial Crises: A Historical Perspective. NBER Working Paper 3400, 1-42.
  • Mishkin, F. (1991). Anatomy of a Financial Crisis, NBER Working Paper 3934, 1-28.
  • Mishkin, F. (1994). Preventing Financial Crises: An International Perspective. NBER Working Paper 4636, 1-44.
  • Mishkin, F. (1996). Understanding Financial Crises: A Developing Country Perspective. NBER Working Paper 5600, 1-45.
  • Mishkin, F. (1998). The Dangers of Exchange-Rate Pegging in Emerging Market Countries. International Finance, (1), 81-101.
  • Mishkin, F. (1999a). Lessons from the Asian Crisis. NBER Working Paper 7102, 1-25.
  • Mishkin, F. (1999b). Lessons from the Tequila Crisis. Journal of Banking&Finance, (23), 1521-1533.
  • Mishkin, F. (2000a). Comment on “The Onset of the East Asian Financial Crisis”. NBER Working Paper, 153-161.
  • Mishkin, F., & Hahm, J.H. (2000b). Causes of the Korean Financial Crisis: Lessons for Policy. NBER Working Paper 7483, 1-79.
  • Esra N. KILCI 384 Akademik İncelemeler Dergisi Cilt 13 – Sayı 2 (Ekim 2018)
  • Mishkin, F. (2001a). “Financial Policies and the Prevention of Financial Crises in Emerging Market Countries”. NBER Working Paper 8087, January 2001, 1-42.
  • Mishkin, F. (2001b). “Prudential Supervision. Why is Important and What are the Issues?” in Mishkin, F. (ed.), Prudential Supervision. What Works and What Doesn’t?. NBER
  • Conference Report, The University of Chicago Press
  • Mishkin, F. (2005). Is Financial Globalization Beneficial?. NBER Working Paper 11891, December 2005, 1-52.
  • Mishkin, F. (2007). “Will Monetary Policy Become More of a Science?”. NBER Working Paper, 13566, 1-41.
  • Mishkin, F. (2008). Speech on “Monetary Policy Flexibility, Risk Management and Financial Disruptions” at the Federal Reserve Bank of New York, 1-7.
  • Mishkin, F. (2009). Is Monetary Policy Effective During Financial Crises?. NBER Working Paper 14678, 1-17.
  • Mishkin, F. (2010). Comment on “Monetary Rules in Emerging Economies with Financial Market Imperfections, NBER, 311-317. Özatay, F., & Sak, G. (2002). Banking Sector Fragility and Turkey’s 2000-01 Financial Crisis, The Central Bank of Republic of Turkey. Research Department Discussion Paper, 1-39.
  • Özkan, F. G. (2005). Currency and Financial Crises in Turkey 2000-2001: Bad Fundamentals or Bad Luck?. The World Economy, 28(4), 541-572.
  • Radelet, S. and Sachs, J. (1998). The East Asian Financial Crisis: Diagnosis, Remedies, Prospects. Brookings Papers on Economic Activity, (1), 1-87.
  • 2000-2001 Türkiye Ekonomik Krizi’ne Faklı Bir Bakış: Asimetrik Bilgi Teorisi Çerçevesinde Bir Değerlendirme Journal of Academic Inquiries 385 Volume 13 – Issue 2 (October 2018).
  • Uygur, E. (2001). Krizden Krize Türkiye: 2000 Kasım ve 2001 Şubat Krizleri. Türkiye Ekonomi Kurumu Tartışma Metni, 1-40.
  • Yay, G. G. (2001). 1990’lı yıllardaki Finansal Krizler ve Türkiye Krizi. Yeni Türkiye Ekonomik Kriz Özel Sayısı II, 42, 1234-1248.
  • Yeldan, E. (2002). Behind the 2000/2001 Turkish Crisis: Stability, Credibility and Governance for Whom?. Paper presented at the IDEAS Conference, Chennai, 1-22.
  • Yilmazkuday, H. (2008). Twin Crises in Turkey, A Comparison of Currency Crisis Models. The European Journal of Comparative Economics, 5(1), 107-124.
Toplam 38 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Araştırma Makaleleri
Yazarlar

Esra N. Kılcı

Yayımlanma Tarihi 1 Ekim 2018
Gönderilme Tarihi 22 Mayıs 2018
Yayımlandığı Sayı Yıl 2018 Cilt: 13 Sayı: 2

Kaynak Göster

APA Kılcı, E. N. (2018). 2000-2001 TÜRKİYE EKONOMİK KRİZİ’NE FAKLI BİR BAKIŞ: ASİMETRİK BİLGİ TEORİSİ ÇERÇEVESİNDE BİR DEĞERLENDİRME. Akademik İncelemeler Dergisi, 13(2), 363-385. https://doi.org/10.17550/akademikincelemeler.426158

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