In recent decades financial crisis is a vivid concept in the world economy. It took place in big economies as well as small ones. I will write about causes and effects of the financial crises in this essay which took place in the 1980s, 1990s and in 2000s. By this, I will try to contrast them in the means of their characteristics. I will begin with a brief explanation of new economic system created after the Second World War and the effects of it on the new economic era. It will follow by crises in Mexico in the 1980s, Thailand in the 1990s, and Turkey in the 2000s by mentioning about their causes and effects. In the end, I will try to make some conclusions with respects to these three crises occurred in three different decades. I have written about three crises instead of two as I wanted to put a third small crisis with two big ones as I am familiar with it.