See No Evil

2020 ◽  
pp. 196-229
Author(s):  
Arthur E. Wilmarth Jr.
Keyword(s):  
Economic Growth ◽  
Consumer Credit ◽  
Household Consumption ◽  
Housing Construction ◽  
Subprime Lending ◽  
Government Officials ◽  
The World ◽  
Challenging Environment ◽  
Consumer Advocates ◽  
The U.S

During the 2000s, universal banks originated and securitized trillions of dollars of toxic subprime loans and sold the resulting debt securities to investors around the world. Governments on both sides of the Atlantic encouraged universal banks to engage in high-risk lending and securitization. Universal banks enjoyed unrivaled influence, and government officials ignored warnings about the dangers of subprime lending from consumer advocates and academics who did not hold “mainstream” views. Policymakers in the U.S. and Europe recognized that many households were becoming more deeply indebted and were relying more heavily on home mortgages and other types of consumer credit to cover their living expenses. Officials tolerated those developments because they viewed housing construction and household consumption as the primary drivers of economic growth in an otherwise challenging environment. The decision by policymakers to rely on housing credit as the main stimulus for economic growth in a period of stagnant incomes had catastrophic results.

scholarly journals Examining the Long-Haul Relationship between Primary Education and Economic Growth: Evidence from Three Populous Nations

2015 ◽  
Vol 4 (1) ◽  
pp. 1
Author(s):  
Rachna Tewari ◽  
Joey Mehlhorn ◽  
Scott D. Parrott
Keyword(s):  
Economic Growth ◽  
Primary School ◽  
Primary Education ◽  
Statistical Significance ◽  
Social Systems ◽  
School Enrollment ◽  
Least Square ◽  
Female Population ◽  
The World ◽  
The U.S

<p>The prominence of early education as a significant source of economic growth has long been an intriguing topic among economists. The purpose of this study was to examine the relationship between primary education and GDP as a measure of economic growth in China, India, and the U.S, the top three populous nations in the world, and to investigate for plausible reasons leading to the differences observed among the mentioned countries of study. Data derived from the Education Statistics of the World Bank from 1970-2012 were subject to the ordinary least square (OLS) estimation procedure, to obtain regression coefficients as a measure of influence of the study variables on economic growth. Results revealed that for all the three study countries characterized by high populations, an increase in the number of students enrolled in primary education positively impacted economic growth. Mortality rate, primary school graduation age population (female), population aged 0 to 14 as percentage of total population, and primary school enrollment ratio showed significant negative impacts on GDP. Marked differences were revealed for individual country regressions regarding the influence of the study variables on economic growth. Gender related differences in primary education graduating population can be attributed to varied differences in the cultural and social systems among the study countries. Both male and female primary education graduation age population showed no statistical significance on economic growth in the U.S, while for China and India the effects on economic growth were significant with clearly outlined gender related differences in primary education graduation age population. This study builds ground for further research on how the accumulation of human capital through education in these countries will impact the geographical concentration of global economic power in the future.</p>

scholarly journals Indonesian Economic Disruption in Covid-19 Pandemic

2021 ◽  
Author(s):  
Muhammad Rapli Al Munawir
Keyword(s):  
Economic Growth ◽  
Household Consumption ◽  
Financial Impact ◽  
Government Consumption ◽  
Corona Virus ◽  
The World ◽  
Ministry Of Finance ◽  
It Impact

Global economic has been affected Indonesia for several years. It get worse because of Covid-19 that has been affected all over the world include Indonesia. This pandemic is impact Indonesian economic growth. According to ministry of finance (CNN Indonesia,2020), Sri Mulyani said that the spread of Corona virus is still increasing every time and the financial impact will be more serious, so it impact to Indonesian Economy for sure. The cause of the slump in economic growth is because of the decrease of household consumption, investment and government consumption. Sri Mulyani said that house hold consumption decreased from 3, 2% to 1, 6%. It’s really bad effect many company in Indonesia, they have a slump income.

The U.S.-China Peace: Great Power Politics, Spheres of Influence, and the Peace of East Asia

2003 ◽  
Vol 3 (3) ◽  
pp. 351-375 ◽  
Author(s):  
Robert S. Ross
Keyword(s):  
Economic Growth ◽  
Cold War ◽  
East Asia ◽  
Great Power ◽  
Power Politics ◽  
Post Cold War ◽  
Spheres Of Influence ◽  
The World ◽  
Great Power Politics ◽  
The U.S

East Asia in the post–Cold War era has been the world's most peaceful region. Whereas since 1989 there have been major wars in Europe, South Asia, Africa, and the Middle East, and significant and costly civil instability in Latin America, during this same period in East Asia there have been no wars and minimal domestic turbulence. Moreover, economic growth in East Asia has been faster than in any other region in the world. East Asia seems to be the major beneficiary of pax Americana.

scholarly journals The Influence of Covid-19 on Subprime in the U.S.

2021 ◽  
Vol 235 ◽  
pp. 01063
Author(s):  
Haoyang Li
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
The United States ◽  
Subprime Lending ◽  
Subprime Mortgage ◽  
The Us ◽  
The World ◽  
Us Government ◽  
The 2008 Financial Crisis ◽  
The U.S

Subprime lending in the United States was a major concern after the 2008 financial crisis. While Covid-19 is sweeping the world, how will the US government and financial institutions deal with the potential crisis of subprime mortgage will be discussed in this study. Financial market institutions and the US government should both change their strategies to deal with the crisis. In addition to controlling the spread of the epidemic, the US government should temporarily lower the minimum wage and provide a series of quantitative financial subsidies. Financial institutions should also update loan data and use better monitoring and regulation to reduce subprime risk to cope with this potential crisis.

scholarly journals DARPA: the Differentiator

2020 ◽  
Author(s):  
Shaoshan Liu
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Productivity Growth ◽  
Research Projects ◽  
The Core ◽  
The Past ◽  
The World ◽  
American Hegemony ◽  
Venture Capital Firms ◽  
The U.S

today the U.S. is facing many internal and external challenges. Internally, productivity growth rate has slowed down significantly in the past 15 years; externally, rising powers, such as China and Russia, are challenging American hegemony. In this article we argue that the Defense Advanced Research Projects Agency (DARPA) is the differentiator that enables the U.S. prevail against these challenges. In the past 60 years DARPA has been the core engine for the development of breakthrough technologies. We examine how DARPA has continuously delivered breakthrough technologies to drive economic growth, and the impacts of DARPA technologies on the U.S. economy. Also, by comparing DARPA’s performance against some of the world’s leading technology venture capital firms, and other DARPA-like agencies around the world, we conclude that DARPA is the differentiator that guarantees American hegemony in this era.

Actual Problems of Economic Policy

2003 ◽  
pp. 23-38 ◽  
Author(s):  
M. Ershov
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Foreign Exchange ◽  
World Economy ◽  
Domestic Economy ◽  
The World ◽  
Exchange Policy ◽  
Effective Integration

At present Russia faces the task of great importance - effective integration into the world economy. The success of this process largely depends on the strength of the domestic economy and stable economic growth. To attain such a goal certain changes in economic approaches are required which imply more active, focused and concerted steps in the monetary, fiscal and foreign exchange policy.

The Instruments of the Stabilization Fund: The Experience and Prospects

2004 ◽  
pp. 65-75 ◽  
Author(s):  
Mst. Afanasiev
Keyword(s):  
Economic Growth ◽  
Oil Prices ◽  
Federal Budget ◽  
Future Generations ◽  
The World

Сreation of the stabilization fund has become the main feature of the Russian federal budget for 2004. This instrument provides the opportunity to reduce the dependence of budget incomes on the fluctuations of oil prices. The accepted model does not consider the world experience in building of such funds as the "funds for future generations", and the increase of other revenues from the growing oil prices as well. That can lead to shortening and immobilization of the financial basis of economic growth.

Inter-country inequality as a dynamic process and the problem of post-industrial development

2018 ◽  
pp. 5-29 ◽  
Author(s):  
L. M. Grigoryev ◽  
V. A. Pavlyushina
Keyword(s):  
Economic Growth ◽  
Political Institutions ◽  
Industrial Development ◽  
Modern World ◽  
New Approach ◽  
Development Level ◽  
The World ◽  
Long Time ◽  
The Difference ◽  
Post Industrial

The phenomenon of economic growth is studied by economists and statisticians in various aspects for a long time. Economic theory is devoted to assessing factors of growth in the tradition of R. Solow, R. Barrow, W. Easterly and others. During the last quarter of the century, however, the institutionalists, namely D. North, D. Wallis, B. Weingast as well as D. Acemoglu and J. Robinson, have shown the complexity of the problem of development on the part of socioeconomic and political institutions. As a result, solving the problem of how economic growth affects inequality between countries has proved extremely difficult. The modern world is very diverse in terms of development level, and the article offers a new approach to the formation of the idea of stylized facts using cluster analysis. The existing statistics allows to estimate on a unified basis the level of GDP production by 174 countries of the world for 1992—2016. The article presents a structured picture of the world: the distribution of countries in seven clusters, different in levels of development. During the period under review, there was a strong per capita GDP growth in PPP in the middle of the distribution, poverty in various countries declined markedly. At the same time, in 1992—2016, the difference increased not only between rich and poor groups of countries, but also between clusters.

Growing Russian Economy against Growing External Tension

2012 ◽  
pp. 4-32
Author(s):  
I. Borisova ◽  
B. Zamaraev ◽  
A. Kiyutsevskaya ◽  
A. Nazarova ◽  
E. Sukhanov
Keyword(s):  
Economic Growth ◽  
Stock Markets ◽  
Negative Effects ◽  
Russian Economy ◽  
Investment Demand ◽  
The World

Conditions and features of the Russian economy development in 2011 are considered in the article. Having caused unprecedented outflow of the capital abroad, rising tension and turbulence on the world financial and stock markets have not broken off recovery of the Russian economy. Crisis recession was overcome. Record-breaking low inflation, rapid credit restoration and active government adjustment neutralized negative effects of the external tension and supported economic growth, having encouraged consumer and investment demand.

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