Browsing by Subject "Financial Crisis"

Now showing 1 - 4 of 4

Open Access
An analytical assessment about post-great moderation central banking policies
(2012) Kızıltan, Rabia Zeynep
In this thesis, by focusing on the unconventional monetary policy measures, I have analytically assessed post-great moderation central banking policies and documented the heterogeneity in calibration and design of these policies by exposing the experiences of Japan, United States, United Kingdom and Brazil. Moreover, by estimating a structural vector autoregressive (SVAR) model, I have empirically investigated the macroeconomic effects of unconventional monetary policies. Empirical findings of this study suggest that, unconventional monetary policies have lead a temporary increase in GDP and CPI for United States and United Kingdom while its effects are slightly significant for Japan and diametrically insignificant for Brazil.
Open Access
“Currency, carry me, everyone is held hostage:” an analysis of post-2008 recessionary films
(2018-06) Gürses, Umut Mert
As the impact of The Great Recession of 2008 has been felt severely by millions of people, “why” and “how” of the crisis became the topic of debate in almost every field. Number of films revolving around the crisis, whether explicitly focusing on The Great Recession or taking the scene designated by the crisis as a background for similar stories about white-collar workers, have been made. The argument of this thesis is that, these narratives focusing on the crisis is a new cycle of films revealing a capitalist realist attitude, and can be named as “recessionary films.” Under three main headings -ideology, structural columns, and crime/justice dichotomy- I analyze the narratives to explore their common thematic elements.
Open Access
The impacts of global crises on developing economies: the case of Turkey
(1999) Tekindor, Sevinç
In this thesis, after explaining the development of Asian crisis, an attempt is made to show how the Asian crisis affected the Turkish economy within the framework of deficiencies of developing countries during the economic globalization process. Here, it is aigued that globalization in itself is not a bad thing for developing countries, but rather, ‘imperfect globalization’ creates problems for them as the recent Asian crisis demonstrated. Although the Asian crisis did not cause total collapse in the Tmkish economy, it triggered discussions about overhauling of the current economic policies. Without structural adjustments and revision of outmoded mechanisms, no country can be able to catch up with developed countries and benefit from riclmess that globalization promises to bring.
Open Access
Mergers and acquisitions during financial crises
(2016-09) Yılmaz, Işıl Sevilay
This thesis investigates the effects of financial crises on mergers and acquisitions (M&A) activity. We investigate if M&A deals in crisis periods differ in terms of dollar volume and quantity of deals, target and bidder characteristics, cumulative abnormal returns (CAR) and deal premiums. First, we describe global M&A activity across 47 countries over the period 1992 to 2011. We investigate how value is generated and distributed in M&A deals around the world. We find that M&A activity (particularly in deals where control rights are sold) generates value. We also find that the magnitudes of bidder and target CARs in developed countries are higher than those in emerging-market countries. Second, we identify effects of financial crises based on a sample of 39 countries. We conclude that financial crisis in target country affects the value generated in M&A deals and how the generated value is distributed between target and bidder shareholders. Moreover, a typical crisis affects the value generated and the distribution of value differently in developed and emerging countries. In particular, crisis time M&A deals generate more value if the target is from a developed country. Finally, financial crises may affect the type of deals that are undertaken and/or affect the pricing of deals. We investigate if differences in deal characteristics account for differences in the value generated and distributed. We conclude that targets operating in countries, which experience crisis, enjoy higher CARs in the full sample even after accounting for the differences in deal specifics.