OUTWARD OPEN？NG AND CRISIS : THE CASE OF TURKEY,

In this study, Turkey's outward opening and crisis : the case of turkey, which covers years 1981-2014 were examined from different angles. Econometric analysis was conducted between the outward opening rate, real exchange rate, inflation, foreign direct investments, international reserves, GNP and interest rate variables. According to the causality analysis, there was no significant bi-directional effect between the variables at the significance level of 0.05, but one-way effects were found to be suitable for expectations. The fact that banks borrowed from foreign currency with their syndicated loans in foreign currency and gave loans in Turkish lira made it risky to close their foreign currency positions. Sudden rise in the exchange rate As in the 2001 crisis, the current account deficit became them lost important issue in the economy in September 2018 with the increase in the possibility of a crisis