scholarly journals Demand collapse or credit crunch to firms? Evidence from the World Bank's financial crisis survey in Eastern Europe

2014 ◽  
Vol 47 ◽  
pp. 125-144 ◽  
Author(s):  
Ha Nguyen ◽  
Rong Qian
2009 ◽  
Vol 8 (3) ◽  
pp. 178-220 ◽  
Author(s):  
Finn Østrup ◽  
Lars Oxelheim ◽  
Clas Wihlborg

Since July 2007, the world economy has experienced a severe financial crisis that originated in the U.S. housing market. Subsequently, the crisis has spread to financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises rarely distinguishes between factors that create the original strain on the financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue that a financial crisis with its contagion within the system is caused by failures of legal, regulatory, and political institutions.


2021 ◽  
Vol 14 (27) ◽  
Author(s):  
Nenad Vunjak ◽  
Milan Radaković ◽  
Miloš Dragosavac

The financial crisis has adversely affected all the countries of the world in the conditions of globalization with different intensity, no matter if it is higher or lower level of development and different economic structures. In the context of globalization in the countries in transition, the banking system was reformed, thus creating a new financial market. The International Monetary Fund has taken an active part in the transition process of Eastern European countries by providing advice and approving financial arrangements. Developed countries of the world have implemented measures of non-standard monetary policy to overcome the global financial crisis. In some parts of Central and Eastern Europe, in addition to the general corporate identity (bank name, abbreviated name, trademark and slogan of the bank), the countries also applied qualitative features of the bank's corporate identity (image, reputation and goodwill). As they enter the 21st century, banks in developed countries are increasingly emphasizing the corporate culture and style of business of the bank. In the practice of banks, the following performances are most often present: financial, marketing, performance management, employee performance, business philosophy, reputation and the image of the bank. The banks' performance analysis included 13 Central and Eastern European countries divided into three groups. Performance over the period 2008-2018 is analyzed, related to: share of total assets in GDP, share of total loans in GDP, share of total deposit in GDP and level of capital adequacy of Central and Eastern European countries. The analysis shows that the central banks of the countries of Central Europe are dominant, and that in certain performances they are approached by the banks of the countries of Eastern Europe (members of the European Union and the Western Balkans).


ALQALAM ◽  
2014 ◽  
Vol 31 (1) ◽  
pp. 187
Author(s):  
Budi Harsanto

The fall of Enron, Lehman Brothers and other major financial institution in the world make researchers conduct various studies about crisis. The research question in this study is, from Islamic economics and business standpoint, why the global financial crisis can happen repeatedly. The purpose is to contribute ideas regarding Islamic viewpoint linked with the global financial crisis. The methodology used is a theoretical-reflective to various article published in academic journals and other intellectual resources with relevant themes. There are lots of analyses on the causes of the crisis. For discussion purposes, the causes divide into two big parts namely ethics and systemic. Ethics contributed to the crisis by greed and moral hazard as a theme that almost always arises in the study of the global financial crisis. Systemic means that the crisis can only be overcome with a major restructuring of the system. Islamic perspective on these two aspect is diametrically different. At ethics side, there is exist direction to obtain blessing in economics and business activities. At systemic side, there is rule of halal and haram and a set of mechanism of economics system such as the concept of ownership that will early prevent the seeds of crisis. Keywords: Islamic economics and business, business ethics, financial crisis 


2015 ◽  
Vol 37 (2) ◽  
pp. 143-164
Author(s):  
Adam Okulicz-Kozaryn

Freedom and life satisfaction are desirable conditions and they both have a special meaning in Eastern Europe — transition was largely about gaining freedom and ultimately overall wellbeing. There are several studies about the effect of freedom on life satisfaction, but none of them focuses on Eastern Europe. I investigate the effect of self-reported freedom on life satisfaction in post-transition Eastern Europe using the World Values Survey. Surprisingly, East Europeans feel less free and less satisfied with their lives than other nationals. But a personal feeling of freedom increases their life satisfaction at a higher rate than in other countries. Freedom is a strong predictor of life satisfaction as compared to national income.


2015 ◽  
Vol 6 (01-02) ◽  
Author(s):  
Anis Ur Rehman ◽  
Yasir Arafat Elahi ◽  
Sushma .

India has recently emerged as a major political and economic power in the world. The financial crisis that engulfed the world in 2008 needed developing countries like India to lead the rescue and recovery, instead of G7 westerns countries who dealt with such crisis in the past. Recently, discussions and negotiations are going amongst G20 countries regarding a new global financial architecture (G-20 Summit, 2008). The outcome will affect the relevant industries in India and hence it is a public interest issue for the actuarial profession in the country. Increased and more intrusive and costly regulations and red tapes are likely to be a part of the new deal (Economic Survey 2009-10). The objective of this paper is to study the perception of higher level authorities in Insurance sector regarding the role of regulator in minimizing the impact of global financial crisis. The primary data has been collected from 200 authorities in insurance industry. The data has been analyzed with statistical tools like MS-Excel. On the basis of the findings, various measures and policy recommendations for insurers have been suggested to minimize the impact of crisis.


Humanities ◽  
2020 ◽  
Vol 10 (1) ◽  
pp. 12
Author(s):  
Rachel F. Brenner

To appraise Martel’s non-Jewish perspective of Holocaust thematic, it is important to assess it in the context of the Jewish relations with the Holocaust. Even though the Jewish claim to the uniqueness of the Holocaust has been disputed since the end of the war especially in Eastern Europe, the Jewish response determined to a large extent the reception of the disaster on the global scene. On a family level, the children of survivors have identified themselves as the legitimate heirs of the unknowable experience of their parents. On a collective level, the decree of Jewish annihilation constructed a Jewish identity that imposed an obligation to keep the Holocaust memory in the consciousness of the world. Martel proposes to supersede the history of the Holocaust with a story which would downplay the Jewish filiation with the Holocaust, elicit an affiliative response to the event of the non-Jewish writer and consequently integrate it into the memory of humanity at large. However, the Holocaust theme of Beatrice and Virgil refuses to assimilate within the general memory of humanity; rather, the consciousness of the event, which pervades the post-Holocaust world, insists on its constant presence. The omnipresence of the Holocaust blurs the distinctions between the filiative (Jewish) and affiliative (non-Jewish) attitudes toward the Jewish tragedy, gripping the writer in its transcendent horror. Disregarding his ethnic or religious origins, the Holocaust takes over the writer’s personal life and determines his story.


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