The Impact of the Global Financial Crisis on Arab States and Sub-Saharan Africa: An Agenda for Growth-Inducing Collaboration

2013 ◽  
pp. 3-28
Author(s):  
Diery Seck ◽  
Amie Gaye
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Sub Saharan Africa ◽  
Arab States ◽  
Sub Saharan ◽  
The Global Financial Crisis ◽  
The Impact

scholarly journals Impact of Global Financial Crisis on IDB Member Countries: The Case of Gulf Cooperation Council and Sub-Saharan Africa

2008 ◽  
Vol 47 (4II) ◽  
pp. 583-601
Author(s):  
Zafar Iqbal
Keyword(s):  
Developing Countries ◽  
Financial Crisis ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Foreign Minister ◽  
Sub Saharan Africa ◽  
Fuel Prices ◽  
Sub Saharan ◽  
The Global Financial Crisis ◽  
The Impact

The year 2008 witnessed three major crises (food, energy, global financial and economic crises) and their impacts were increasingly felt worldwide. Since the eruption of global financial crisis from September 2008, international financial markets have become more turbulent, and the global economic slowdown is expected to deepen further. Virtually no country, developing or developed, has escaped from the impact of the global financial turbulence, although countries that entered the crisis with less integration into the global economy have generally been less affected. There is an increasing concern that the ongoing global financial turbulence is likely to transform into human crisis, particularly in the developing world. Although, it will take sometime to assess the full impact of the these crises on developed as well as developing countries, various preliminary estimates have been reported about the losses due to these crises. For example, Kuwait Foreign Minister revealed in Arab Economic Summit that Arab investors lost $2.5 trillion just in four months (September to December 2008) due to credit crunch.1 Similarly, according to the latest estimate by the Asian Development Bank, the global financial market losses reached $50 trillion in 2008, which is equivalent to one year of world GDP.2 Like other developing countries, the impacts of these crises have also been increasingly felt in IDB member countries. Firstly, a large number of member countries were affected due to high food and fuel prices and since September 2008, they are being affected directly and indirectly by the global financial crisis although the channels of transmission are different from those operating in relatively more developed member countries.

Does regional currency integration ameliorate global macroeconomic shocks in sub-Saharan Africa? The case of the 2008-2009 global financial crisis

2014 ◽  
Vol 41 (5) ◽  
pp. 737-750 ◽  
Author(s):  
Gregory N. Price ◽  
Juliet U. Elu
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Sub Saharan Africa ◽  
Parameter Estimates ◽  
African Countries ◽  
Macroeconomic Shocks ◽  
Content Type ◽  
Sub Saharan ◽  
The Impact

Purpose – The purpose of this paper is to consider whether regional currency integration in sub-Saharan Africa ameliorates global macroeconomic shocks by considering the impact of the 2008-2009 global financial crisis on economic growth. This suggests that Central Africa Franc Zone (CFAZ) eurocurrency union membership amplifies the effects of global business cycles in sub-Saharan Africa. Design/methodology/approach – The authors estimate the parameters of a quantity theory model of economic growth within a Generalized Estimating Equation (GEE) Framework. Findings – Parameter estimates from GEE specifications reveal that the contraction in credit during the financial crisis of 2008-2009 had larger adverse growth effects on sub-Saharan African countries who were members of the CFAZ eurocurrency union. The authors also find that sub-Saharan African countries who were members of the CFAZ eurocurrency union were more likely to experience a contraction in credit. Originality/value – As far as the authors can discern, no existing empirical growth models use a GEE framework to estimate parameters of interest. The GEE parameter estimates are distribution-free, robust with respect to unknown forms of heteroskedasticity, and control for a wide variety of error structures that can induce bias in panel data parameter estimates.

scholarly journals Income Distribution in Turkey during the Global Financial Crisis

2017 ◽  
Vol 9 (3) ◽  
pp. 91
Author(s):  
Sinem Sefil-Tansever
Keyword(s):  
Financial Crisis ◽  
Income Inequality ◽  
Global Financial Crisis ◽  
Income Source ◽  
Labor Earnings ◽  
Income Sources ◽  
Gini Decomposition ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Earning Inequality

The aim of this study is to examine mechanism responsible for the behavior of the income and earning inequality in Turkey during the global financial crisis based on data from the 2006 to 2014 Income and Living Conditions Survey. Gini decomposition by income source is employed in order to provide an analysis of the contribution of the various income sources to the evolution of income inequality and to assess the impact of a marginal percentage change in the income from a particular source on income inequality. For examining the contributions of specific variables (education, position in occupation, economic sector) to the interpretation of labor earnings inequality in terms of their gross and marginal contribution, we use static decomposition of Theil T index.

scholarly journals Russia and the CIS in 2008: Axis of Authoritarianism??

Asian Survey ◽  
2009 ◽  
Vol 49 (1) ◽  
pp. 135-145 ◽  
Author(s):  
Charles E. Ziegler
Keyword(s):  
Financial Crisis ◽  
Economic Performance ◽  
Domestic Politics ◽  
Global Financial Crisis ◽  
Great Power ◽  
The Caucasus ◽  
Central Asian ◽  
Presidential Succession ◽  
The Global Financial Crisis ◽  
The Impact

Russia's seamless presidential succession produced no major changes in domestic politics or foreign policy. Ties with Asia remained strong, though several key relationships——with China, Japan, and the Central Asian states——frayed under the impact of Russia's military action in Georgia. Impressive economic performance in the first half of the year boosted Russian confidence as a great power, but its vulnerability to the global financial crisis together with the heavy-handed operation in the Caucasus undermined Moscow's standing with both Asia and Europe by the end of the year.

scholarly journals Global Financial Crisis and Philanthropy: Malaysian Case

2015 ◽  
Vol 7 (2) ◽  
pp. 19-31 ◽  
Author(s):  
Janice Lay Hui Nga
Keyword(s):  
Financial Crisis ◽  
Mixed Method ◽  
Qualitative Data ◽  
Global Financial Crisis ◽  
Secondary Data ◽  
Civil Society Organisations ◽  
The Global Financial Crisis ◽  
The Impact ◽  
To Receive ◽  
Method Approach

This paper investigates the issue of the global financial crisis and its impacts on philanthropy and civil society organisations (CSOs) in Malaysia. CSOs are popularly known as non-governmental organisations (NGOs) in Malaysia. Financial crisis has caused NGOs in many countries to receive less funding. This situation may threaten and discourage voluntary works. Undoubtedly, these beneficial contributions from the NGOs are needful services to the society. This paper examines the impact of financial crisis through the lens of NGOs and philanthropy activities in Malaysia. It utilises primary and secondary data, employs a mixed method approach, and uses quantitative and qualitative data. While there are many influencing factors in this development, this paper presents several significant aspects in the Malaysian context, including the style and nature of giving, culture, religion, and political pressure. This study attempts to seek potential solutions, pathways and possible approaches beneficial to NGOs and philanthropy activities for their sustainability in facing the financial crisis and its consequences. Experiences and lessons learnt in Malaysia may well be useful and applicable to some extent in other countries.

Sign in / Sign up

Export Citation Format

Share Document