Abstract:

The word crisis is a broad concept, and many definitions are made. In social sciences, the crisis responds to words such as depression, while in the Economic Literature it is referred to with expressions such as Economic Crisis, Financial Crisis. The concept of economic crisis represents a negative situation in the form of a decline in investments parallel to the reduction in domestic demand, an increase in unemployment rates and, in the end, a serious disruption in the level of social welfare. The financial crisis is the uncertainty in the financial markets or the balloon effect that financial assets can create, which affects the entire financial system in a chain form. The Financial Crisis in the U.S. Economy, which appeared in the middle of 2007 and expanded its scope over time, and finally began to affect the entire world by the end of 2008; developed economies have been felt worldwide, primarily. Brazil, Russia, India and China, which are among the developing countries and are the BRIC fourth, and Turkey, which, although at different levels, have been affected by the 2008 crisis. In this study, the BRIC countries mentioned above were attempted to compare the basic economic indicators such as GDP, unemployment rate, growth rate, inflation rate, national income per person. These comparisons have been made in a way to cover the 2008 and the following periods of years when the global financial crisis began to show the effects. On the other hand, in addition to showing similar characteristics to the BRIC countries, the economic performance of Turkey, which is likely to be incorporated into this group in the future, has also been included in the study in the 2008 crisis and the following several years.

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