ABSTRACT

The financial crises beginning in 2000 constituted, without a doubt, the biggest economic setback that Turkey has experienced in the post-1945 era. These crises resulted in a profound loss of output and employment, as well as a striking increase in poverty. The recent crises differ from the earlier 1994 crisis in the sense that their effects have been more widespread. All segments of Turkish society-rich and poor, skilled and unskilled-experienced the deep impact of the crises. Yet, the poor and the unprotected felt the pinch more than others. The various contributions in the present volume clearly highlight that the recent crises experienced by Turkey reflect both the impact of a more challenging external environment facing the country in the 1990s as well as the presence of deep-seated problems or imbalances in the domestic economic and political arenas.