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Begin New Search Topic Earthquake Publication Year within 3 Years

1. Did the February 6-7 Türkiye Earthquake Trigger a Housing Market Bubble? Empirical Insights from Right-tailed Unit-root Tests

Author:
Gökhan Kartal
Publication Date:
06-2024
Content Type:
Journal Article
Journal:
Istanbul Journal of Economics
Institution:
Istanbul University Faculty of Economics
Abstract:
This study primarily aims to assess whether the destructive earthquakes of February 6-7, 2023 triggered a potential nationwide housing market bubble. Spanning the period from January 2010 to September 2024, the analysis employs Generalised Supremum Augmented Dickey-Fuller and Backward Supremum Augmented Dickey-Fuller methods to identify bubble formations. The findings reveal significant bubble periods, including January to August 2015, November 2015 to November 2016, May 2018 to January 2019, May to June 2019, and February to December 2023. The latest bubble formation occurred immediately after the earthquake, highlighting a strong link between the disaster and housing market dynamics. While the earthquake’s impact—through abrupt housing stock loss, large-scale displacement, and intensified demand for secure housing—was undeniably a crucial trigger for this bubble, other macroeconomic factors, such as inflationary pressures, low interest rates, and the perception of housing as a lucrative investment, also played a reinforcing role. The Türkiye experience enhances the understanding of speculative cycles in seismic regions, demonstrating how non-economic shocks such as earthquakes can rapidly boost demand and strain housing supply, amplifying speculative behaviour. This bubble, which peaked in May 2023 and gradually deflated, completely dissipated by December 2023. This development can be associated with the policies implemented by economic authorities, including interest rate hikes, restrictive credit measures, as well as the normalisation of conditions across the country following the earthquake. This highlights the need for proactive monitoring and intervention by economic authorities through appropriate economic policies and regulations to address supply-demand imbalances and mitigate the risks of future housing bubbles, particularly in response to external shocks. Furthermore, in response to the study’s findings on earthquake-triggered bubbles, policymakers should prioritise initiatives aimed at strengthening building infrastructure and implementing urban transformation strategies.
Topic:
Economics, Natural Disasters, Earthquake, Speculative Bubbles, and Housing Market
Political Geography:
Turkey and Middle East

2. Turkey Earthquake: Domestic and Foreign Policy Implications

Author:
Al Jazeera Center for Studies
Publication Date:
03-2023
Content Type:
Policy Brief
Institution:
Al Jazeera Center for Studies
Abstract:
In addition to the direct losses – both human lives and damage to buildings and infrastructure – domestically, the earthquake may have implications for the coming presidential and parliamentary elections. In terms of foreign policy, it triggered a quasi-coup in Turkey’s regional and international relations.
Topic:
Foreign Policy, Natural Disasters, Infrastructure, Elections, and Earthquake
Political Geography:
Turkey and Middle East

3. Turkey is not the US and Kılıçdaroğlu is not Obama

Author:
Hay Ertan Cohen Yanarocak
Publication Date:
06-2023
Content Type:
Working Paper
Institution:
Moshe Dayan Center for Middle Eastern and African Studies
Abstract:
In our latest issue of Turkeyscope, Dr. Hay Eytan Cohen Yanarocak focuses on the recent May 2023 elections. He highlights the importance of sectarian identity as one factor underlying President Erdoğan's victory, which came despite the deteriorating economy, the earthquake disaster, and strong polling for his opponent.
Topic:
Sectarianism, Elections, Domestic Politics, Recep Tayyip Erdoğan, Earthquake, and Kemal Kılıçdaroğlu
Political Geography:
Turkey and Middle East

4. Devastating Earthquakes in Turkey Could Fundamentally Alter the Political Landscape

Author:
James Ryan
Publication Date:
02-2023
Content Type:
Commentary and Analysis
Institution:
Foreign Policy Research Institute (FPRI)
Abstract:
Twin earthquakes of 7.4 and 7.8 magnitude devastated southeastern Turkey and northern Syria on February 6. Over 22,000 people are known to have died, and tens of thousands more remain wounded and displaced. Lax construction standards in a rapidly urbanizing region contributed to the high death toll, raising questions about Recep Tayyip Erdoğan’s Justice and Development Party’s aggressive approach to construction and development. Opposition figures have made pointed accusations that state aid has been doled out on a partisan basis, raising the stakes of scheduled general elections on May 14.
Topic:
Development, Natural Disasters, Elections, Domestic Politics, Earthquake, and Construction
Political Geography:
Turkey, Middle East, and Syria

5. Disaster Dynamics: Assessing Middle East Responses to the Turkey-Syria Earthquake and Other Destructive Events

Author:
Sarah Cahn and Erik Yavorsky
Publication Date:
03-2023
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
The massive earthquake that killed more than 50,000 people in Turkey and Syria as of February 28—one of the worst Middle East natural disasters in recent memory—has touched the hearts of leaders and peoples across the world, triggering a flow of urgently needed humanitarian support. Regional states, too, have provided rescue and relief assistance. From the outset, however, politics has played an important role in shaping the scope and direction of such aid. In fact, the politics of humanitarian aid follows a pattern discernible based on previous regional responses to crises, including the 2020 Beirut port explosion and—before it—the 2014 Gaza war.
Topic:
Natural Disasters, Foreign Aid, and Earthquake
Political Geography:
Turkey, Middle East, and Syria

6. Earthquake in Syria and Turkey: U.S. Policy Implications

Author:
Can Selcuki, Amany Qaddour, Soner Cagaptay, and Andrew J. Tabler
Publication Date:
02-2023
Content Type:
Commentary and Analysis
Institution:
The Washington Institute for Near East Policy
Abstract:
A panel of experts offers on-the-ground insights from the disaster zone and discusses the political and policy consequences of the still-unfolding humanitarian crisis.
Topic:
Foreign Policy, Natural Disasters, and Earthquake
Political Geography:
Turkey, Middle East, and Syria

7. After the February 6 Earthquakes: A Critical Overview of the Legal and Administrative Framework

Author:
Akif Burak Atlar
Publication Date:
10-2023
Content Type:
Policy Brief
Institution:
Turkish Economic and Social Studies Foundation (TESEV)
Abstract:
This brief assesses urban vulnerability to earthquake risk in relation to legal and administrative interventions that have occurred on building supervision, zoning amnesties and emergency management since the August 17, 1999 earthquake, and offers policy recommendations to reduce this vulnerability.
Topic:
Natural Disasters, Governance, Sustainability, and Earthquake
Political Geography:
Turkey and Middle East

8. Society and State in Turkey Between Two Disasters

Author:
Ulaş Bayraktar
Publication Date:
10-2023
Content Type:
Policy Brief
Institution:
Turkish Economic and Social Studies Foundation (TESEV)
Abstract:
This brief assesses the responses of the central government, municipalities, civil society organisations and grassroots communities in the aftermath of the 1999 and 2023 earthquakes in the context of the changes in Turkey’s political and administrative life between these two crises.
Topic:
Civil Society, Natural Disasters, Governance, Sustainability, and Earthquake
Political Geography:
Turkey

9. Data for Disaster Risk Reduction: An Evaluation on the Use and Sharing

Author:
Bürge Elvan Erginli
Publication Date:
11-2023
Content Type:
Special Report
Institution:
Turkish Economic and Social Studies Foundation (TESEV)
Abstract:
The report first examines how data and information technologies are situated in global frameworks and national plans for disaster risk reduction. Following a general outline of the types of data relating to the three stages before, during and after disasters, the report draws on relevant studies and engages the discussions in the round table meetings held within the scope of the project and attended by representatives from different institutions and organisations to analyse the data produced, utilised, and shared in the project provinces. The final section of the report presents conclusions and recommendations.
Topic:
Natural Disasters, Governance, Sustainability, and Earthquake
Political Geography:
Turkey and Middle East

10. 'Retraumatized': Assessing the Impact of the Earthquake on Northern Syria's Humanitarian Crisis

Author:
Charles Lister, Dania Albaba, Nora Abdullah, Natasha Hall, and Alex Mahoney
Publication Date:
06-2023
Content Type:
Video
Institution:
Middle East Institute (MEI)
Abstract:
The Syrian conflict, now in its 13th year, has generated a complex humanitarian emergency resulting from the dislocation of half of the country’s population and the disintegration of the Syrian public health system, greatly exacerbating the pre-existing global refugee crisis. The conflict and mass displacement have additionally had a severe psychological impact on civilians, resulting in high levels of mental health problems, such as depression, anxiety, and post-traumatic stress disorder. The earthquake that struck northern Syria on Feb. 6, 2023 — the worst in the region in 200 years — compounded and retraumatized an already acutely affected population. Last February, MedGlobal deployed a team of psychiatric professionals to conduct post-disaster mental health training in northwestern Syria — their experiences led to the publication of a groundbreaking new report: “Retraumatized: The Psychological Impact of the Earthquake on War-Torn Syria.” The Middle East Institute (MEI) is pleased to host a discussion with the report’s authors, who will present their findings and policy recommendations and explore the many wider aspects of Syria’s humanitarian crisis, including the upcoming United Nations Security Council vote on cross-border aid access into northwestern Syria.
Topic:
Natural Disasters, Trauma, Humanitarian Crisis, and Earthquake
Political Geography:
Middle East and Syria