International Conference on Eurasian Economies
1-3 July 2014 – Skopje, MACEDONIA
Paper detail
Paper ID : 895
Status : Paper published
Language : Turkish
Topic : Sectoral Analyses
Presenter:
Session : 3C Finansal Kriz II
The Impacts of Global Financial Crisis on Construction Sector in Turkey
Küresel Krizin Türkiye’deki İnşaat Sektörü Üzerindeki Etkileri
- Asst. Prof. Dr. Fatih Kürşat Fırat (Aksaray University, Türkiye)
- Esra Soyu (Aksaray University, Türkiye)
Abstract
The global crisis in United States began as the form of the mortgage crisis in the housing market. Profound effects the financial crisis emerged in 2008 spread rapidly throughout the world as a result of globalization and also its effects were felt in our country. Both in earlier crises and the emergence and spread of the global economic crisis in the cyclical indicators are known to play an important role. There are different opinions on this subject in the literature. It is seen that there is a relation between the global crisis in the financial sectors and the construction sector based on mostly housing industry. Especially in the developing countries like Turkey, the construction sector, which is an important contribution to the economic growth, is seen negatively affected by the global crisis. The aim of this study is to analyze the variations occurred in the construction industry during the 2008 global economic crisis and is to introduce how the construction sector is affected by the crisis. Here, Turkey's main economic indicators during the crisis are examined considering the construction sector and GDP growth rates. As a result of this study, it is put forward that the construction sector in Turkey is one of the sectors most affected by the global crisis.
JEL codes: G01, L74
Fırat, Fatih Kürşat, Soyu, Esra (2014). "The Impacts of Global Financial Crisis on Construction Sector in Turkey" in Proceedings of International Conference of Eurasian Economies 2014, pp.525-532, Skopje, MACEDONIA.
DOI: https://doi.org/10.36880/C05.00895
