scholarly journals Market failure and government failure in European debt crisis

2021 ◽  
Vol 275 ◽  
pp. 03025
Author(s):  
Jingwen Yan ◽  
Zhishan Cai ◽  
Rui Zhou
Keyword(s):  
Market Failure ◽  
Debt Crisis ◽  
International Competitiveness ◽  
Government Failure ◽  
Debt Problem ◽  
Euro Zone ◽  
The Common ◽  
European Debt Crisis

This paper takes the “five European pig countries” in the European debt crisis as an example to analyze the event from the perspective of market failure and government failure. The main conclusions are as follows: the European debt crisis is the common product of market failure and government failure. Both sides should make great efforts to solve this problem. There is a long-term process to solve the European debt problem. Only by developing competitive industries and regaining international competitiveness is the effective way for euro zone countries to get rid of the predicament fundamentally.

scholarly journals A Hidden Theory in Financial Crisis Journalism?

2015 ◽  
Vol 36 (2) ◽  
pp. 113-127 ◽  
Author(s):  
Paul Bjerke ◽  
Birgitte Kjos Fonn
Keyword(s):  
Financial Crisis ◽  
Present Article ◽  
Debt Crisis ◽  
Framing Theory ◽  
Political Economics ◽  
Press Coverage ◽  
Short Term ◽  
Content Analyses ◽  
European Debt Crisis

Abstract The present article analyses press coverage of the dramatic finance crisis and the ensuing European debt crisis in Europe, in three decisive periods. The authors conduct quantitative and qualitative content analyses of two major mainstream Norwegian newspapers, Aftenposten and Dagbladet, employing concepts and methods from framing theory, to analyse coverage in the framework of two contesting schools in economics. The study finds traces of discussions of finance brokers’ ethics and some discussions of governmental regulations that made the 2008 crisis possible, but few indications of a basic discussion of the system as such. The authors conclude that the crisis was framed more as a superficial, short-term problem (as per a mainstream, neoliberal theory of economics) than as a deeper and long-term system problem (as a more critical ‘political economics’ theory would have held).

scholarly journals Debt-Oriented Growth Efforts & the Inevitable End: The Eurozone Sovereign Debt Crisis

2016 ◽  
Vol 2 (1) ◽  
pp. 86
Author(s):  
Deniz Zungun ◽  
Emine Turkan Ayvaz Guven
Keyword(s):  
Economic Growth ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Public Expenditures ◽  
Capital Investments ◽  
Long Term Effects ◽  
Oriented Growth ◽  
Euro Zone ◽  
Economic Growth Rates

<p><em>This study tries to reveal the unsustainable long-term effects of public expenditures, which are extended based on loan between 2000 and 2015 in 18 Euro zone countries, on economic growth. The countries located in Euro zone chose a way to obtain economic growth by directly lowering taxes on foreign capital investments in the subject period. However, while they could achieve this purpose especially between 2006 and 2007, by 2008 which is subsequent to aforementioned years, they increase their countries’ debt loads and thusly public expenditures extremely. Therefore, these countries which applied austerity policies by 2010 to lower the expenses faced sharp declines of their economic growth rates when they achieved their aims. For this reason, even if Euro zone countries continue to apply various policies today, they have difficulty in redressing their macroeconomic balance because of the effects of debt crisis. Since the solution does not lie behind having a debt-growth which is aimed at increasing public expenditures; it lies behind a foreign trade-oriented growth aimed at developing the production. </em></p>

scholarly journals Policy responses to the European debt crisis treating the “symptoms” or the “disease”?

2012 ◽  
Vol 59 (5) ◽  
pp. 529-552 ◽  
Author(s):  
Angelos Antzoulatos
Keyword(s):  
Debt Crisis ◽  
Economic Environment ◽  
Market Economies ◽  
Policy Responses ◽  
The Future ◽  
Perverse Incentives ◽  
European Debt Crisis

The conventional narrative for the European debt crisis stresses three factors, namely, bad policies and profligacy in the afflicted countries - mostly southern ones, flaws in the EMU design, and wise policies in the northern frugal countries. This paper argues that the root causes of the crisis lie in the failure of many ?safety valves? of market economies, at many levels of the society, both in the crisis countries and in the more ?prudent? EMU countries, in an economic environment where unfettered finance can overwhelm even the biggest and best managed economies. Hence, the policy responses based on the conventional narrative are akin to treating the ?symptoms?, not the ?disease?. As such, they may be setting the foundations for a bigger crisis in the future by strengthening the always-present perverse incentives of many economic players and by proposing complex and unworkable regulatory and supervisory structures. This, together with the unequal sharing of the burden of adjustment - both across and within countries, bodes ill for the long-term prospects of EMU, despite that the aforementioned failures are not intrinsically related to the euro.

THE EU SUGAR MARKET PROFILE AND ITS MAIN DRIVERS

2015 ◽  
Author(s):  
Lubos SMUTKA ◽  
Irena BENEŠOVÁ ◽  
Patrik ROVNÝ ◽  
Renata MATYSIK-PEJAS
Keyword(s):  
Market Failure ◽  
Current System ◽  
Quota System ◽  
Considerable Debate ◽  
Sugar Market ◽  
The Common ◽  
The One ◽  
Production Capacities ◽  
The Given ◽  
The Eu

Sugar is one of the most important elements in human nutrition. The Common Market Organisation for sugar has been a subject of considerable debate since its establishment in 1968. The European agricultural market has been criticized for its heavy regulations and subsidization. The sugar market is one of the most regulated ones; however, this will change radically in 2017 when the current system of production quotas will end. The current EU sugar market changed is structure during the last several decades. The significant number of companies left the market and EU internal sugar market became more concentrated. The aim of this paper is presentation characteristics of sugar market with respect to the supposed market failure – reduction in competition. The analysis also identifies the main drivers and determinants of the EU especially quota sugar market. In relation to paper’s aim the following results are important. The present conditions of the European sugar market have led to market failure when nearly 75 % (10 million tonnes) of the quota is controlled by five multinational companies only. These multinational alliances (especially German and French one) are also taking control over the production capacities of their subsidiaries. In most countries, this causes serious problems as the given quota is controlled by one or two producers only. This is a significant indicator of market imperfection. The quota system cannot overcome the problem of production quotas on the one hand and the demand on the other; furthermore, it also leads to economic inefficiency. The current EU sugar market is under the control of only Sudzucker, Nordzucker, Pfeifer and Langen, Tereos and ABF.

The foundations of peaceful coexistence after the war ... Mosul is a model

2019 ◽  
pp. 178
Author(s):  
Omar Hashim Thanon
Keyword(s):  
Ethnic Diversity ◽  
Psychological Consequences ◽  
Peaceful Coexistence ◽  
Negative Effects ◽  
Mass Displacement ◽  
The Common ◽  
Near Term ◽  
Post War ◽  
Common Destiny

Since peaceful coexistence reflects in its various aspects the concept of harmony between the members of the same society with their different national, religious and sectarian affiliations, as well as their attitudes and ideas, what brings together these are the common bonds such as land, interests and common destiny. But this coexistence is exposing for crises and instability and the theft of rights and other that destroy the communities with their different religious, national, sectarian, ethnic aspects, especially if these led to a crisis of fighting or war, which produces only destruction and mass displacement, ttherefore, the process of bridging the gap between the different parts of society in the post-war phase through a set of requirements that serve as the basis for the promotion of peaceful coexistence within the same country to consolidate civil and community peace in order to create a general framework and a coherent basis to reconstruct the community again.      Hence the premise of the research by asking about the extent of the possibility and ability of the community of religious and ethnic diversity, which has been exposed to these crises, which aimed at this diversity, basically to be able to rise and re-integrate within the same country and thus achieve civil and community peace, and Mosul is an example for that, the negative effects of the war and the accomplices of many criminal acts have given rise to hatred and fear for all, leading to the loss of livelihoods, which in the long term may have devastating social and psychological consequences.        To clarify all of this, the title of the first topic was a review of the concept and origin of peaceful coexistence. While the second topic dealt with the requirements of peaceful coexistence and social integration in Mosul, the last topic has identified the most important challenges facing the processes of coexistence and integration in Mosul. All this in order to paint a better future for the conductor at all levels in the near term at the very least to achieve the values of this peaceful coexistence, especially in the post-war period.

Hemorrhoidal Laser procedure (HeLP) and Hemorrrrhoidal Laser procedure + mucopexy (HeLPexx) and other Emerging Technologies

2020 ◽  
Vol 15 ◽  
Author(s):  
Paolo Giamundo
Keyword(s):  
Laser Treatment ◽  
Dentate Line ◽  
Mucosal Prolapse ◽  
Daily Activities ◽  
Common Goal ◽  
Superior Rectal Artery ◽  
Doppler Probe ◽  
The Common ◽  
Probe Set

Background: Minimally-invasive treatments for hemorrhoids should be encouraged as they cause low morbidity, reasonable discomfort and quicker return to work. According to the “vascular theory” hemorrhoidal disease is mainly caused by blood overflow into hemorrhoidal plexus deriving from the superior hemorrhoidal arteries. Introduction: Many different procedures have been described in the literature with the common goal of reducing the blood flow into the hemorrhoidal piles. ‘HeLP’ (Hemorrhoids Laser Procedure) is a novel form of dearterialization to treat patients suffering from symptomatic hemorrhoids. Methods: The procedure consists of the closure of the terminal branches of the superior rectal artery approximately 2-3 cm above the dentate line by means of laser shots originated by a diode laser platform. The arteries, at that level, have variable location and distribution. Therefore, a doppler probe set at the frequency of 20MHz helps identifying the arteries that would be missed otherwise. The laser beam is well tolerated by patients. For this reason, anesthesia is not required in most cases and the procedure allows a quick return to daily activities. In case of concomitant severe mucosal prolapse, the laser treatment can be combined with suture mucopexy. Three to six running sutures allow a complete lifting of hemorrhoidal piles, securing long-term resolution of symptoms. Results and Conclusions: ‘HeLP’ is indicated in patients with symptomatic hemorrhoids where conservative treatment failed and when mucosal prolapse is scarce or not symptomatic. The addition of mucopexy to laser treatment (HeLPexx) contributes to overall resolution of symptoms when mucosal prolapse is an issue, Emborrhoid is another novel, ‘hi-tech’ form of selective dearterialization used in selected case of hemorrhoids where main symptom is bleeding. It is generally used in cases where surgery is contraindicated due to severe concomitant diseases.

Same Story, Different Place?

2018 ◽  
Author(s):  
Viral V. Acharya ◽  
Tim Eisert ◽  
Christian Eufinger ◽  
Christian Hirsch
Keyword(s):  
Banking Sector ◽  
Debt Crisis ◽  
Banking System ◽  
Policy Implications ◽  
Balance Sheets ◽  
System P ◽  
Loan Supply ◽  
European Banking ◽  
European Debt Crisis

This chapter compares the recapitalizations of the Japanese banking sector in the 1990s with those in the ongoing European debt crisis. The analysis points to four main policy implications. First, recapitalizing banks by insuring or purchasing troubled assets alone is not likely to solve the problem of banks’ weak capitalization, as this measure is not able to adjust the extent of the recapitalization to the banks’ specific needs. Second, the amount of the recapitalization should be based on actual capital shortages and not risk-weighted assets to avoid banks decreasing their loan supply. Third, banks should face restrictions regarding the amount of dividends they are allowed to pay out. Finally, banks must be induced to clean up their balance sheets and reduce the amount of bad (non-performing) loans to rebuild confidence in the European banking system.

Proposal for an IMF Debt Refinancing Subsidiary

2018 ◽  
Keyword(s):  
Developing Country ◽  
Essential Elements ◽  
Acceptable Solution ◽  
Debt Problem ◽  
The Imf

In the chapter, Haq analyses the deepening developing country debt problem of the 1980s and outlines the essential elements for an acceptable solution to the problem. To Haq, IMF seemed to be the most appropriate international intermediary to manage this. Haq goes on to outline the specifics of how the role of the IMF could be modified to find long-term solutions for managing developing-country debt.

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