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Original Article Open Access


The World Economy from the 1980’s to the Global Crisis

Tuba ONGUN.

Abstract
The OECD countries, led by the US and the UK, adopted supply-side and monetaristic economic policies, to overcome the stagflasionist crisis, seven years after the end of the “Golden Age” of capitalism (1973). The tendency for the average rate of profit to fall and the nourished financial capital’s demand for globalization, contributed to this policy shift. On the other hand, international financial institutions like the IMF and the World Bank, also changed their credit policies related to the developing countries and imposed on them the “open and pro-market”, Structural Adjustment Programmes. During those years, new protectionism in world trade expanded its sphere of influence, while the debt problem aggravated. Following the dissolution of the Soviet Block and the collapse of Soviet Union, financial liberalization and globalization gained momentum and capital flows assumed a speculative and shortterm character. As a result, as imbalances increased, inequalities deepened. At the beginning of the 2000’s, the efforts to overcome stagnation by provoking financialization resulted in the formation of bubbles and increased fragilities, leading to the outbreak of the Global Crisis of 2007.

Key words: World Economy, Global Crisis, International Dabt Crisis, New Protectionaism. JEL Classification: F00, F02



1980’LERDEN KÜRESEL KRİZE DÜNYA EKONOMİSİ

Özet
Kapitalizmin “Altın Çağı” olarak adlandırılan dönemin sona ermesinden (1973) yaklaşık 7 yıl sonra, başta ABD ve İngiltere olmak üzere OECD ülkeleri, stagflasyonist bunalımı aşmak amacıyla Keynesgil iktisat politikalarını terk ederek, arz-yanlısı ve monetarist politikalar benimsemiştir. Ortalama kâr haddinin düşme eğilimi ve güçlenmiş olan finans sermayesinin küreselleşme isteği, bu politika değişikliğinde önemli paya sahiptir. IMF ve Dünya Bankası gibi uluslararası finans kuruluşları da, özellikle gelişmekte olan ülkelere ilişkin kredi politikalarını değiştirerek, bu ülkeleri dışa açık ve piyasacı Yapısal Uyum Programlarını kabule zorlamıştır. Bu yıllarda dış ticarette yeni korumacılık etki alanını genişletirken dış borç sorunu ağırlaşmıştır. 1990’ların başında Sovyet Bloku’nun dağılması ve Sovyetler Birliği’nin yıkılmasından sonra, özellikle finansal liberalizasyon ve küreselleşme ivme kazanmış, uluslararası finans üretimden kopmuş, sermaye hareketleri spekülatif ve kısa vadeli bir karakter almıştır. Sonuçta dünya ekonomisinde istikrarsızlıklar artarken, eşitsizlikler de derinleşmiştir. 2000’lerin başlarında ekonomik durgunluğu aşmak amacıyla finansallaşmanın özendirilmesi, finans piyasalarında balonların oluşmasına yol açarak kırılganlıkları artırmış, sonuçta 2007 Küresel Krizi patlak vermiştir.

Anahtar Kelimeler: Dünya Ekonomisi, Küresel Kriz, Uluslararası Borç Krizi, Yeni Korumacılık. JEL Sınıflaması: F00, F02


 
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Tuba ONGUN. [The World Economy from the 1980’s to the Global Crisis]. Ekonomik Yaklasim. 2012; 23(Special): 39-76. Turkish. doi:10.5455/ey.20007



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Tuba ONGUN. [The World Economy from the 1980’s to the Global Crisis]. www.scopemed.org/?mno=34388 [Access: September 22, 2017]. Turkish. doi:10.5455/ey.20007



AMA (American Medical Association) Style

Tuba ONGUN. [The World Economy from the 1980’s to the Global Crisis]. Ekonomik Yaklasim. 2012; 23(Special): 39-76. Turkish. doi:10.5455/ey.20007



Vancouver/ICMJE Style

Tuba ONGUN. [The World Economy from the 1980’s to the Global Crisis]. Ekonomik Yaklasim. (2012), [cited September 22, 2017]; 23(Special): 39-76. Turkish. doi:10.5455/ey.20007



Harvard Style

Tuba ONGUN (2012) [The World Economy from the 1980’s to the Global Crisis]. Ekonomik Yaklasim, 23 (Special), 39-76. Turkish. doi:10.5455/ey.20007



Turabian Style

Tuba ONGUN. 2012. [The World Economy from the 1980’s to the Global Crisis]. Ekonomik Yaklasim, 23 (Special), 39-76. Turkish. doi:10.5455/ey.20007



Chicago Style

Tuba ONGUN. "[The World Economy from the 1980’s to the Global Crisis]." Ekonomik Yaklasim 23 (2012), 39-76. Turkish. doi:10.5455/ey.20007



MLA (The Modern Language Association) Style

Tuba ONGUN. "[The World Economy from the 1980’s to the Global Crisis]." Ekonomik Yaklasim 23.Special (2012), 39-76. Print.Turkish. doi:10.5455/ey.20007



APA (American Psychological Association) Style

Tuba ONGUN (2012) [The World Economy from the 1980’s to the Global Crisis]. Ekonomik Yaklasim, 23 (Special), 39-76. Turkish. doi:10.5455/ey.20007



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