International Conference on Eurasian Economies

International Conference on Eurasian Economies

11-13 October 2012 – Almaty, KAZAKHSTAN

Paper detail

Paper ID : 525
Status : Paper published
Language : Turkish
Topic : Microeconomics and Entrepreneurship
Presenter: Prof. Dr. Emine Fırat
Session : 2D Mikroekonomi II

Economic Fluctuations in Turkey in the Light of Business Cycle Theories
Konjonktür Teorileri Işığında Türkiye’deki İktisadi Dalgalanmalar


Some economists have tried to demonstrate the cause of economic fluctuations and its solution with business cycle theories. The classical school emphasizes the efficiency of free market economy and the optimization of private economic factors. The Keynesian school believes that the causes of economic fluctuations arise from not only just the deviations from market equilibrium but also market failure on a grand scale. The debate over the source and propagation of economic fluctuations rages as fiercely today as it did in the Great Depression that began in 1929. Economic Fluctuation models investigate to answer the question of why economies go through boom and bust and why economies experience cycles of recession and recovery. In the economic literature, based on the Business Cycle Theories many different approaches have been proposed. While economists discuss the ultimate form of the right business cycle model, they must take into consideration the decisive factors of economic fluctuations in the past century. In this study, the local economic crisis occurred in Turkey in recent years are investigated in the light of Business Cycle Theory and also the effects of macroeconomic policies are evaluated on the basis of economic fluctuations models.

JEL codes: B22, E60

Fırat, Emine (2012). "Economic Fluctuations in Turkey in the Light of Business Cycle Theories" in Proceedings of International Conference of Eurasian Economies 2012, pp.406-413, Almaty, KAZAKHSTAN.


Full paper in PDF format.

Session 2D: Mikroekonomi II

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