Özet:

Global economy faced so-called the greatest crises that is mentioned after 1929 Great Depression, and that showed its first signals in housing market imbalances in the second quarter of the 2007 and increased seriousness due to bankruptcy of 158 year-old finance giant Lehman Brothers, the fifth largest investment bank. Interest rate policy post 2000 period, distortions in mortgage market, deficiencies in risk assessment and transparency, increasing risk in securitizations and increasing number of derivatives market make the financial environment riskier. These changes can be mentioned as the causes of the financial crises. In this uncontrolled expansion period houses prices implausibly raised owed to speculations and price bubbles are happened. Increasing number of derivatives contributes bubble economies and these malfunctions inevitably transmitted to real side of economy. This paper aims at uncovering the role of financial derivatives in Global Financial Crisis, its effects on real economy and trying to find out the ways of overcoming the crisis

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