The institutional economics approach, which places institutions at the center of economic analysis, approaches the phenomenon of economic growth and differences in economic performance between countries in terms of institutional factors rather than economic factors. Institutional factors can affect economic performance positively or negatively, and the level of this effect may differ according to institutional factors. Institutional factors have been frequently included in growth analyses, especially since the 1990s.

Although there is a consensus in the literature on the relationship between institutional quality and economic growth, frequent economic crises have resulted in the redesign of countries' institutions. This study examines whether crises affect the economic growth of countries through institutional quality. In the study, which uses the Mankiw, Romer and Weil (MRW) growth model and panel data analysis as an econometric estimation method, empirical analyses are conducted with data from Latin American countries Argentina, Mexico and Brazil, Asian countries Thailand, Malaysia, Philippines, Indonesia and South Korea, and finally Turkey for the period 1984-2010.

In the study investigating the effects of institutional factors on economic growth, a new perspective was created by including the economic crisis factor in the analysis. In this context, the relationship between crisis, institutional quality and growth was found worth investigating based on empirical findings regarding Turkey, Latin America and Asian countries that were exposed to economic crises. As a result of the estimations, it was concluded that the variables of law and order, religious conflicts, level of military intervention in politics, level of democratic participation, internal and external conflicts are important institutional variables that positively affect economic growth. In addition, when the institutional quality indicators are evaluated together with the impact of the crisis; it is estimated that the institutional variables that positively affect the level of economic growth are; bureaucratic quality, socioeconomic conditions, investment profile and democratic participation. As a result; crises change the level of institutional quality and this change positively affects economic growth.