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Role Of Financial Globalization in The Global Financial Crisis

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  • Yilmaz BAYAR
  • Mahmut Unsal SASMAZ
  • Ömer Faruk Öztürk

Abstract

Income and economic growth has not been shared equally by population sub-groups in a lot of countries. Increase in low income groups will effect beneficiaries for country’s basic services such as health, education, food and housing. These will also affect country’s development effort negatively. In this study, a comparative analysis has done for annual income distribution differences in Turkey by using “Income and Living Conditions Survey” collected by Turkish Statistical Agency. Even though statistical data, started from 1960’s, shows that income inequality has been getting better off over time, the gap between the highest income quintile and the lowest income quintile are still very big. 2008 global crisis, which covers time period of the study, has been reflected worsening effect on country’s income inequality.

Suggested Citation

  • Yilmaz BAYAR & Mahmut Unsal SASMAZ & Ömer Faruk Öztürk, 2017. "Role Of Financial Globalization in The Global Financial Crisis," International Journal of Applied Economic and Finance Studies, BAUDER Press, vol. 2(1), pages 1-9, June.
    • Handle: RePEc:bau:ijaefs:v:2:y:2017:i:1:id:99
    DOI: 10.68099/ijaefs.2017.99
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    References listed on IDEAS

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    1. Philip Arestis & Santonu Basu & Sushanta Mallick, 2005. "Financial globalization: the need for a single currency and a global central bank," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 27(3), pages 507-531.
    2. Mr. Ayhan Kose & Mr. Kenneth Rogoff & Mr. Eswar S Prasad & Shang-Jin Wei, 2003. "Effects of Financial Globalization on Developing Countries: Some Empirical Evidence," IMF Occasional Papers 2003/007, International Monetary Fund.
    3. Pierre‐Richard Agénor, 2003. "Benefits and Costs of International Financial Integration: Theory and Facts," The World Economy, Wiley Blackwell, vol. 26(8), pages 1089-1118, August.
    4. Frederic S. Mishkin, 2011. "Over the Cliff: From the Subprime to the Global Financial Crisis," Journal of Economic Perspectives, American Economic Association, vol. 25(1), pages 49-70, Winter.
    5. repec:imf:imfops:2003/007 is not listed on IDEAS
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