Simon Fraser University Turkish Financial and Economic Crisis Paper

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OAO9

Business Finance

Simon Fraser University

Description

Explain the causes of the recent Turkish financial and economic crisis that started in 2018. What effect did it have on 1) the Turkish economy and 2) the global economy? What kind of fiscal and monetary policies were implemented by Turkey? What are the challenges that remain for the Turkish economy?

Your well-written paper should meet the following requirements:

  • Be 4-5 pages in length, which does not include the title page, abstract, or required reference page, which are never a part of the content minimum requirements.
  • Use APA style guidelines.
  • Support your submission with course material concepts, principles and theories from the textbook and at least two scholarly, peer-reviewed journal articles.
  • cover all the requirment.

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Explanation & Answer

Please find the attached

Running head: TURKISH ECONOMIC CRISIS AND RECOVERY

Turkish economic crisis and recovery
Name
Institution

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TURKISH ECONOMIC CRISIS AND RECOVERY

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Turkish economic crisis and recovery
Abstract
In 2018, the economy of turkey went through currency and debt crisis, demonstrated by Turkish
lira diminishing value. There is a need to examine what were the contributing factors and
possible players with a view of expanding the economic scope and gathering more facts about
the world’s emerging markets
It is important to delve into how the above factors had an implication on the country’s economy
and how these implications are stretched to affect other countries in the globe More focus should
also rest on recovery strategies adopted by the Turkish government to ensure her economy is
rebooted and brought back in the play. Finally, there is a need to look into what more challenges
remaining and continue being bothersome to the Turkish government along the recovery path.

TURKISH ECONOMIC CRISIS AND RECOVERY

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1) The global financial realignment in 2018 had a huge implication on growing markets and
economies. Turkey is one of the most notable victims who experienced a currency crisis
that led to a recession. The Turkish lira suffered a huge loss of 30 percent when
compared with the US Dollar (USD) in 2018 (Taskinsoy, 2019). The bankruptcy wave
led to the downfall of many firms and the highest unemployment rates were recorded.
Two main factors could be attributed to the Turkish crisis;
a) Financial dependency
Before 2018, the turkey had been one among the credibly best performing economies in
the world; even outshining economic powerhouses like China and India, turkey reported
7.23% in her gross domestic product (GDP). The expansion however, was sustained
through excessive foreign debts. When central banks in other parts of the world were
mobilizing domestic financial sources, Turkish companies a...


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