Comparative Political Economy Analysis of Changes From the Economic Crisis: the Case of Turkey and Japan
Year: 2022
Type: article
Abstract: Although the differentiation of economic developments between countries has spread over a long period of time, markets are going through similar fragile periods due to globalization. With the popularity of the free market economy all over the world, it has become more common for country groups to be compared with each other. This study deals with the comparison between the selected economic indicators of Turkey and Japan in the 1973 OPEC Crisis, 1994 Asian Crisis, 2008 Global Financial Crisis and COVID-19 Crisis in the period covering 1971 and 2020. When the implementation processes of economic policies in the two countries are examined, it is seen that although there are similar stages, the reactions created to the crises and the recovery processes differ. It is possible to state that the main reason of this difference is related to the level of development of the countries. While the priority areas of developed economies are to transition from economic development to a sustainable economy, the priority areas of developing countries, which are considered as emerging markets in the literature, are based on developing their economies. In this context, the level of development of countries may changes the perception and management of risks, and accordingly, it differentiates the way countries use their savings.
Source: Afro Eurasian Studies
Author: Kübra Hatice BİLDİK
Institution: Istanbul Commerce University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4293110000