Financial crises have been a major issue since the 1970s, with the 1990s being a critical period for many countries. These crises have led to economic instability and affected developing countries differently. The crises have caused panic in international investment markets and resulted in a shift in financial capital flow between countries. Unemployment rates increased globally in 2008 due to the crises, leading to a decline in Gross Domestic Product in many countries, including Turkey. The impact of these crises on Turkey's economy has been significant.