THE LAST ECONOMICAL CRISIS IN TURKEY AND ARGENTİNA, THE COMPARATIVE ANALYSIS OF THE GETTING OUT FROM UNDER THE CRISIS METHODS

Tayfur Bayat ¹ , Ali Tüfekçi ¹

In this study we investigated that the 2001 economic crises of Turkey and Argentina happened due to same causes. However each countries demonstrated some different feature in economy like Banking system, just before the 2001 crisis, both of them gave budget deficit, current account deficit and not able to display sufficient discipline in public finance continuously. Results of analysis point that fixed exchange rate system which is the important similarity of these countries, causes unhealthy fiscal situation, deterioration of current account balance and pressure on the countries to borrow from abroad everlastingly. In addition to, as the last determination it can be said that after 2001 economic crisis, Argentina, even though inflation and interest rate declined and growth rate increased, Turkey could not achieve to decrease the debt stock and current account deficit.

Keywords
Economic Crisis, Current Account Balance, Fixed Exchange Rate System, Currency Board, Monetary Policy,