러시아ㆍ유라시아

In this study the determinants of economic growth and the effects of 2008 global economic crisis on growth were analysed by using 1990-2012 periods’ annual data in the sample of Turkey and Central Asia Countries (Azerbaijan, Kazakhstan, Kyrgyzstan, Turkmenistan, Tajikistan, and Uzbekistan). The 2008 crisis started in the USA in mid-2008 in mortgage markets and also affected the financial markets and the reel sector and it spread all over European Countries (EU) and the world from September 2008 and it caused a shrink in world economy by 2.3 % and distorted the macroeconomic balances of countries including in particular the economic growth. According to the empirical findings of the analysis the government expenditures, the export and the private consumption expenditure in order made the most contribution to the countries’ economic growth. Effect of the crisis on economic growth was negative and statistically significant.