Abstract :
There is a general increasing in commodity price after the year of 2002. In this price increasing, developing Asian countries have an important role. The examination which are about this issue has demonstrated that the demand shock which arises from developing countries affects commodity price significantly. Morever, speculative petroleum demand have increased in this period and it is obviously clear that it have also affected rising commodity price. Commodity prices have decreased quickly with lowered demand after the global financing crisis in 2008. Not only developing countries but also developed countries have an important role in reincreasing commodity price because of their used monetary and fiscal policy(quickly rising in public investment and quickly decreasing in interests). After the global crisis, although the gold price has rising quickly because of the sense that this metal is without risk(safe haven), the petroleum and metal prices have rising because of increasind demand and bother in petroleum supply. It is obviously considered as a restraint that the current higher commodity prices than it was. In this period, Turkey was trying to transform global crisis into opportunity, and the decreasing demand from Europe was balanced with the export to African and Middle East countries. Morever, the cost of external financing which was decreased to the minimum of the history was balanced with private sector investment. In this period, the high commodity price have harmed Turkey’s balance of current account as a current deficit. The ratio of current deficit to gross domestic product(GDP) have arrived at 10% and excluding petroleum and natural gas imports, there was a balance an current account. In the period of easily reaching to the external financing sources, any problem did not emergence from the financing of current account.
NaturalLanguageKeyword :
Economic crisis , Global crisis , Commodity Prices , Turkey , Political case
