International Conference on Eurasian Economies
1-3 July 2014 – Skopje, MACEDONIA
Paper detail
Paper ID : 1083
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Dr. Yusuf Ziya Tengiz
Session : 2D Finans
Effects of Financial Risks in Turkish and Eurasian Economies on Real Economic Growth and Public Sector Borrowing: 2000-2013
Türkiye ve Avrasya Ülkeleri Ekonomilerindeki Finansal Risklerin Reel Ekonomik Büyümeye ve Devlet Borçlanmasına Etkileri: 2000-2013
- Dr. Yusuf Ziya Tengiz (Kadir Has University, Türkiye)
- Assoc. Prof. Dr. Emine Şule Aydeniz (Yeditepe University, Türkiye)
- Dr. Ali Göksenli (Istanbul Technical University, Türkiye)
Abstract
The effects of global and economical crisis on Turkey and Eurasian countries depend strongly on countries’ dependence ratio of foreign trade, on integrations and economic structure. Real economic growth of Russian and Belarus economies is affected by Euro and US-dollar rate of exchange (RoE), Kazakhstan’s economy by Euro RoE, Turkmenistan’s by Euro exchange and interest and Turkish economy by Euro RoE and consumer price index (CPI). The effect of public borrowings ratio on gross domestic product is affected in Russian economy by Euro RoE, CPI and interests 1 and 2, in Kazakhstan economy by US dollar RoE and interest, in Belarus economy by US dollar RoE, interest and CPI, in Turkmenistan’s by Euro RoE and interest and Turkish economy by interest and CPI. Russia must regulate improving economy politics in Euro exchange, interest and CPI indicators to increase real economical growth and decrease ratio of public borrowings on gross domestic product. Kazakhstan must focus on Euro RoE, US dollar RoE, interest and CPI indicators. The same situation is valid for Belarus. Turkmenistan must give importance to Euro exchange and interests in its politics of economy. Turkey must take Euro exchange, CPI and interests into consideration. Thereby real economy growth will increase and ratio of public borrowings on gross domestic product will decrease. To decrease shocks against fragility, to develop global competition strength and decrease of foreign-source dependency, Turkey and Eurasian countries must develop new strategies and constitute and develop economy politics for global competition capacity.
JEL codes: G01, B26, C52
Tengiz, Yusuf Ziya, Aydeniz, Emine Şule, Göksenli, Ali (2014). "Effects of Financial Risks in Turkish and Eurasian Economies on Real Economic Growth and Public Sector Borrowing: 2000-2013" in Proceedings of International Conference of Eurasian Economies 2014, pp.738-747, Skopje, MACEDONIA.
DOI: https://doi.org/10.36880/C05.01083
