@article{2016,title={TRANSMISSION CHANNEL OF GLOBAL MACRO-FINANCIAL SHOCKS TO TURKISH ECONOMY: GLOBAL VAR APPROACH},abstractNode={In this study, transmission of financial crises in foreign countries as macro-financial shocks through trade channel to Turkish economy was analyzed. In this context, an empirical analysis on the financial multiplier mechanism of international transmission mechanism is conducted based on Krugman’s definition. Besides, international asset prices are evaluated as equity price index of USA. The possible effects of these international prices on balance sheets are represented by sudden stop variable based on the countries in question. GVAR approach is used for analysis of global macro-financial shocks at this study. By using this approach, analysis of shocks transmission between countries without putting any constraints on the variables and impulse-responses analysis can be done. Therefore, 17 developed and developing countries’ quarterly data belongs to 1980-2013 period is analyzed by this approach. In the end of the analysis, as a developing country, it is found that Turkish economy has},author={Aslı Önay AKÇAY},year={2016},journal={The Journal of Academic Social Science}}