An Analysis of the Impact of the 2008 Global Financial Crisis on Health Expenditures in Türkiye: Evidence from 1999–2012

Crises that have occurred on a global scale in the past have influenced the world economy in various ways. Among these, one of the most significant crises affecting the global economy was the 2008 Global Financial Crisis, which originated in the United States in 2007 and manifested its impact in 2008. This crisis profoundly affected many countries, and numerous sectors were influenced by it. It is assumed that the health sector is among the sectors impacted by global crises. Considering that the health sector encompasses activities related to the well-being of citizens and provides various services to them, it can be argued that disruptions or deficiencies in this sector may affect human capital in a country, thereby producing broader economic implications. For this reason, the present study aims to determine the effects of the 2008 Global Financial Crisis on health expenditures in Türkiye. For this purpose, health expenditures and developments in the field of healthcare in Türkiye were examined for the period between 1999 and 2012. This period was selected in order to enable a comparison of health-related data in the years preceding the crisis with those following it. The study presents the changes in health expenditures in Türkiye through various indicators. The findings reveal that during this period, health investments increased, the total number of healthcare institutions expanded, and overall health expenditures continuously rose (except in 2009). Furthermore, the share of total health expenditure in GDP increased until 2008, after which it declined. Based on the GDP ratio, it can be inferred that the global financial crisis adversely affected human capital. Nevertheless, despite the crisis, the analysis indicates that many health indicators in Türkiye continued to exhibit upward trends.