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Turkey experienced severe losses of life and infrastructure in 1999 caused by the August earthquake. The earthquake was followed by a period of economic and financial crisis, culminating in a major currency devaluation in February 2001. What has been the social impact of these crises? In order to answer that question, the World Bank and the Government of Japan co-financed a household survey during the summer of 2001, which consisted of surveying 4200 households on their consumption and income, and interviewing 120 respondents in depth for case studies. In comparison to surveys taken in 1994, this study seeks to answer three main questions: how many are poor in Turkey in 2001; who are the poor and why are they poor?; and how do the poor cope with risk and poverty?.