GLOBAL ECONOMIC CRISIS AND FOREIGN DIRECT INVESTMENT

Abstract

In economic terms, due to globalization, economic crisis have gone global too. The first global crisis that affected the whole world is the 1929 Great Depression. The world had many crises before 1929 yet their effects have been limited. The extent of the volume of the world economy has come brings global crises of today to have major impact together. Acceleration of globalization since 1990 has led to an increase in number of economic crises. The crises came up to the world agenda as much as the wars in the last two decades. 1994 Mexico, 1998 Russia, 1994, November 2000 and February 2001 Turkey, 2002 Argentina crises were not global but has had negative effects on the world economy. Besides, 1997 Asia and finally the global financial crisis started in the United States in the second half of 2007 had large impacts on the world economy. The late two decades will be noted in the world history as years of crises.