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Economic Crisis Can Have Significant Negative Effect On Various . The second major factor behind the 2008 financial crisis was the rapid escalation in the us current account deficit from 1996 to 2006. Tracing the negative effects of the crisis on potential output levels and growth rates a review of the economic literature identifies several channels thorough which the crisis can impact on potential output levels and growth rates: coronavirus, economy, podcast Groupe BPCE Global from natixis.groupebpce.com Also, the negative effects of the crisis will be felt for a considerable time. Turkey in particular saw consistent gdp growth of above five percent in the early 2000s, until the impact of the financial crisis saw its economy contract by 4.7 percent in 2009. Increasing unemployment has an impact on the decrease of income per capita.