International Congress on Eurasian Economies

International Conference on Eurasian Economies

11-13 October 2012 – Almaty, KAZAKHSTAN

Paper detail

Paper ID : 478
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Asst. Prof. Dr. Serdar Kuzu
Session : 3C Finans

An Evaluation of the Major Indicators of Economical Crisis in Central Asian Countries within the Framework of Global Financial Crisis of 2008
2008 Global Finansal Krizi Işığında Orta Asya Ülkelerinde Kriz Öncü Göstergelerinin Değerlendirilmesi

Abstract

Several financial crises that have different causes and effects occured in financial markets in which globalization takes its effect increasingly. Central Asian Countries which have gained their independence after the disintegration of the Soviet Union in 1991 both faced important socio-cultural and political changes and were affected many global crises during 1991-2012. The global financial crisis which occured in the USA in 2008 as a mortgage crisis spreaded as a result of globalization and affected the developing economies. 2008 global financial crisis caused trouble especially in macroeconomic issues such as employment, production, supply, demand, level of welfare, openness, price stability, economic growth, inflation and unemployment. This study aims to imply how the selected Central Asian Countries have been affected by the 2008 global financial crisis and their future expectations by analysing leading macroeconomic indicators. In this context, the effects of the global financial crisis on macroeconomic variables of Kazakhistan, Azerbaijan, Kyrgyzstan, Turkmenistan and Uzbekistan will be interpreted. In the light of these indicators, it will be analysed if there are leading indicators for a coming economic crisis in Central Asian Countries and also how their economic structure will be in the near future.

JEL codes: G01, O11, H12

Öngel, Volkan, Kuzu, Serdar (2012). "An Evaluation of the Major Indicators of Economical Crisis in Central Asian Countries within the Framework of Global Financial Crisis of 2008" in Proceedings of International Conference of Eurasian Economies 2012, pp.305-311, Almaty, KAZAKHSTAN.

DOI: https://doi.org/10.36880/C03.00478

Full paper in PDF format.

Session 3C: Finans

Beykent University Kyrgyzstan-Turkey Manas University Turan University TIKA Turkish Central Bank