Welfare Impact of the Global Financial Crisis of 2008-2009 on Turkish Households
This paper looks at how the macro-shock from the 2008 financial crisis has translated into income and welfare shocks in the form of reduced earnings and consumption at the household level in Turkey. Using a specialized household level Welfare Monitoring Survey implemented in May-June 2009 in seven Turkish provinces, the paper first establishes a link between the province- level shock and the changes in earnings at the household level. Secondly, using an instrumental-variables strategy, it establishes the link between the earnings reduction and changes in consumption. The main findings in the paper are that informally employed workers, and those with lower levels of education, were most likely to be hurt by the crisis. In terms of human- development investments at the household level, the paper finds that food expenditures acted as the main adjustment mechanism in the face of the in- come shock, while education and health expenditures remained relatively stable. The probability of reducing food consumption (and the amount of food provided to children) was highest among the poor that initially had low levels of household assets.
Volume (Year): 2 (2013)
Issue (Month): 2 (May)
|Contact details of provider:|| Postal: |
Phone: (+90 312) 468 25 89
Fax: (+90 312) 468 25 99
Web page: http://www.tek.org.tr/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Escobal, Javier & Saavedra, Jaime & Suárez, Pablo, 2005. "Economic Shocks and Changes in School Attendance Levels and Education Expenditure in Peru," MPRA Paper 56481, University Library of Munich, Germany.
- McKenzie, David J., 2003. "How do Households Cope with Aggregate Shocks? Evidence from the Mexican Peso Crisis," World Development, Elsevier, vol. 31(7), pages 1179-1199, July.
- Fafchamps, Marcel & Udry, Christopher & Czukas, Katherine, 1998.
"Drought and saving in West Africa: are livestock a buffer stock?,"
Journal of Development Economics,
Elsevier, vol. 55(2), pages 273-305, April.
- Marcel Fafchamps & Chris Udry & Katherine Czukas, . "Drought and Saving in West Africa: Are Livestock a Buffer Stock?," Working Papers 97013, Stanford University, Department of Economics.
- Holzmann, Robert & Pouget, Yann & Vodopivec, Milan & Weber, Michael, 2011.
"Severance pay programs around the world : history, rationale, status, and reforms,"
Social Protection Discussion Papers
62726, The World Bank.
- Holzmann, Robert & Pouget, Yann & Vodopivec, Milan & Weber, Michael, 2011. "Severance Pay Programs around the World: History, Rationale, Status, and Reforms," IZA Discussion Papers 5731, Institute for the Study of Labor (IZA).
When requesting a correction, please mention this item's handle: RePEc:tek:journl:v:2:y:2013:i:2:p:13-52. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ercan Uygur)
If references are entirely missing, you can add them using this form.