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Abstract
Comparative Analysis of Previous Crises and 2008 Global Economic Crisis in terms of Enacted Monetary and Fiscal Policies
There are many arguments asserting that there are similarities and differences between 1929 Great Depression, 2008 Global Crisis which is the biggest crisis experienced after Great Depression and 1997 Southeast Asian Financial Crisis in terms of their reasons and developments.1929 Great Depression which broke out in an environment in which intergovernmental relations are based on policy and defense, and economy is at the second place in foreign policy planning has lasted longer because the measures were mainly national and public sector is lacking in power and planning to apply monetary and fiscal policies. However 1997 crisis and 2008 crisis has lasted relatively short thanks to the presence of regional and international institutions, and similar monetary and fiscal policy measures which are developed against crises by countries. In this article the anatomy of these three crises were examined and some inferences were made with regard to the policies implemented during crises, the achievement of these policies and recent economic crisis.
Keywords
1929 Economic Depression, 1997 Southeast Asian Crisis, 2008 Global Crisis, Monetary and Fiscal Polic
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