Market Failures In Economic Schools and Financial Crisis Approach: A Post Keynesian Analysis On The 2001 Financial Crisis In Turkey

Financial crisis approach in the macroeconomic analysis is based on the different assumptions of economic thought schools. In this paper, the financial crisis approach is investigated for the 2001 financial crisis, which is one of the most severe financial crises the Turkish economy experienced, in the Post Keynesian economic thought framework in a comparative way. Generally, the Post Keynesian economic thought has a more comprehensive and alternative approach for the 2001 financial crisis in the Turkish economy and described the main reasons for this crisis in a better way