Writing
Morgan State University Turkish Financial and Economic Environments Paper

Morgan State University

Question Description

Can you help me understand this Management question?

Critical Thinking Assignment (100 points)

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.
    • writing standards and APA style guidelines.
    • Be sure to support your statements with logic and argument, citing all sources referenced
    • Enjoy your search.

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Final Answer

Attached.

Running head: FINANCIAL & ECONOMIC CRISIS

Financial & Economic Crisis
Student’s Name:
Instructor’s Name:
Course:
Date:

1

FINANCIAL & ECONOMIC CRISIS

2

Abstract
The purpose of this paper is to discuss the cause of the financial and economic crisis in
Turkey in 2018. Several factors led to the crisis, which includes the existence of excess current
account deficit. Moreover, Trump was annoyed with the fact that one of the Americans, Andrew
Brunson, had been jailed in Turkey. It is for this reason that trump increased tariffs on the
aluminum and steel that Turkey imported in the United States of America (Al Jazeera, 2018). It
affected the Turkish economy since it was forced to raise the prices of aluminum and steel, and
many people in America were not willing to purchase them at the high prices. Therefore, they went
for other options. Also, Turkey depended too much on the revenue that is obtained from the
exported goods. The economic crisis affected the Turkish economy and the global economy.
Nevertheless, specific fiscal and monetary policies have been implemented in Turkey to help in
reviving the economy.

FINANCIAL & ECONOMIC CRISIS

3

Explain the causes of the recent Turkish financial and economic crisis that started in 2018
One of the reasons for the financial and economic crisis in Turkey was the excessive
account deficit. The current account deficit is a status when a country spends a lot of capital on
imports while it receives less on the exports. The importation rate increased due to the high demand
of consumers for the raw materials and products from other countries. They were required to ensure
that the growth of the economy was stable. Nevertheless, the state did not gain much from the
exports considering that they were not as many as the imports. The majority of the imports help in
providing materials or energy sources that cannot be acquired locally. Dependence on other
countries for survival affected the Turkish economy since it was not in a position to support its
businesse...

SajemTop (16997)
Rice University

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