Irrational Exuberance, 2004–2007

2018 ◽  
Author(s):  
Ashoka Mody
Keyword(s):  
World Trade ◽  
Global Economy ◽  
German Economy ◽  
Well Being ◽  
Great Moderation ◽  
European Central ◽  
Trade Growth ◽  
Irrational Exuberance ◽  
Rate Mechanism ◽  
Economic Well Being

This chapter looks at the strong global economic recovery which took place in mid-2004, which accelerated world trade growth to historically high rates—a special advantage to European nations who all rely heavily for their economic well-being on international trade. With improved trade opportunities, even the struggling German economy began to show signs of life. The Eurozone, however, had economic and financial vulnerability. A source of instability inherent to monetary unity was vividly manifest during the crisis of the European Exchange Rate Mechanism (ERM) in the early 1990s. A longer-term problem was the Eurozone's banks. Ultimately, the story of the next three years—between mid-2004 and mid-2007—revolves around a contest between the forces of “great moderation” and “irrational exuberance.” In the Eurozone, as member states benefited from an improving global economy, a belief in the European Central Bank's (ECB) distinctive ability to maintain stability reinforced the narrative of great moderation.

The world economy

1998 ◽  
Vol 165 ◽  
pp. 35-42
Author(s):  
Nigel Pain
Keyword(s):  
Capital Market ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
Domestic Demand ◽  
The World ◽  
Asian Economies ◽  
Trade Growth ◽  
The Impact ◽  
The Capital Market

Developments in the Asian economies have clearly begun to be felt in the wider global economy in recent months. It has always been expected that the OECD economies would be affected by the aftermath of the capital market turmoil last year, although the timing and magnitude of the impact was difficult to predict. Domestic demand in the affected Asian economies has proved much weaker than expected, with the effects magnified by a continued downturn in Japan. GDP fell by 5¾ per cent in Korea in the first quarter of this year and by 1¼ per cent in Japan. The aggregate volume of merchandise imports in Asia is expected to decline by around 5½ per cent this year, with falls of up to 25 per cent in countries such as Korea, Thailand and Indonesia. This largely accounts for our projected decline in world trade growth to under 6 per cent this year from an estimated 9¾ per cent in 1997.

scholarly journals The position of developing countries in international trade

2004 ◽  
Vol 49 (162) ◽  
pp. 65-97
Author(s):  
Radovan Kovacevic
Keyword(s):  
Developing Countries ◽  
Developing Country ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
Substantial Reduction ◽  
Steady Increase ◽  
The World ◽  
Trade Growth ◽  
Dramatic Shift

Recent years have seen a substantial reduction in trade policy and other barriers inhibiting developing country participation in the world trade. Lower barriers have contributed to a dramatic shift in the pattern of developing country trade -away from dependence on commodity exports to much greater reliance on manufactures and services. In addition, exports to other developing countries have become much more important. These changes have profound implications for the role played by developing countries in the world economy and the trade system. Developing countries have become major players in the global economy. The outward-oriented strategies of many economies in emerging Asia have been reflected in high trade growth and a steady increase in their share in the world trade.

4. The Developing World in the Global Economy

2017 ◽  
Author(s):  
Robert Ahearne
Keyword(s):  
Developing Countries ◽  
World Trade ◽  
Global Economy ◽  
Developing World ◽  
Well Being ◽  
Financial Flows ◽  
Advantages And Disadvantages ◽  
Globalized Economy ◽  
Key Features

This chapter examines the role of developing countries in the contemporary global economy. It first provides an overview of trends in the global economy, taking into account the implications of globalization for the developing world and the question of free trade vs protectionism. It then considers three key features of an increasingly globalized economy and their significance for the developing world: trade, foreign direct investment (FDI), and financial flows. It also discusses the role(s) of developing countries in global trade, the advantages and disadvantages of FDI, and two major components of the global economy that can cause serious economic disruptions: the buying and selling of currencies and stocks and shares in local economies, and the rapid movement of capital across borders. The chapter concludes with an assessment of factors that can reduce the economic well-being of countries in the developing world.

New normal for trade will shape global economy

2016 ◽  
Keyword(s):  
World Trade ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Gdp Growth ◽  
Growth Estimate ◽  
Content Type ◽  
Communication Costs ◽  
Trade Growth ◽  
The Global Financial Crisis ◽  
First Time

Subject The slowdown in global trade. Significance The WTO forecast for world trade has fallen below GDP growth for the first time since the global financial crisis. The forecast hinges on a substantial recovery in the second half of 2016 to meet its meagre trade growth estimate of 1.7% for 2016 as a whole. The first quarter of 2016 actually saw a decline (-1.1%) and the second quarter was barely positive (0.3%). Impacts Economies dependent on goods exports will remain constrained by the weakness in both volumes and prices. Liberalisation of non-tariff barriers may prove difficult politically, particularly health, environment and labour protections. Technology will continue to lower transportation and communication costs, supporting goods trade and facilitating stronger services trade.

Through the prism of Spain. Socio-economic causes of different outcomes of Russian and Spanish civil wars

2017 ◽  
pp. 142-155
Author(s):  
I. Rozinskiy ◽  
N. Rozinskaya
Keyword(s):  
Civil War ◽  
World War I ◽  
Civil Wars ◽  
Spanish Civil War ◽  
Statistical Data ◽  
Well Being ◽  
Russian Civil War ◽  
World War ◽  
Common Features ◽  
Economic Well Being

The article examines the socio-economic causes of the outcome of the Spanish Civil War (1936-1936), which, as opposed to the Russian Civil War, resulted in the victory of the “Whites”. Choice of Spain as the object of comparison with Russia is justified not only by similarity of civil wars occurred in the two countries in the XX century, but also by a large number of common features in their history. Based on statistical data on the changes in economic well-being of different strata of Spanish population during several decades before the civil war, the authors formulate the hypothesis according to which the increase of real incomes of Spaniards engaged in agriculture is “responsible” for their conservative political sympathies. As a result, contrary to the situation in Russia, where the peasantry did not support the Whites, in Spain the peasants’ position predetermined the outcome of the confrontation resulting in the victory of the Spanish analogue of the Whites. According to the authors, the possibility of stable increase of Spanish peasants’ incomes was caused by the nation’s non-involvement in World War I and also by more limited, compared to Russia and some other countries, spending on creation of heavy (primarily military-related) industry in Spain.

Strategic threats to energy security as risks of quality of people's life

2020 ◽  
Vol 16 (4) ◽  
pp. 730-744
Author(s):  
V.I. Loktionov
Keyword(s):  
Quality Of Life ◽  
Energy Security ◽  
Well Being ◽  
Scientific Methods ◽  
Analysis And Synthesis ◽  
General Scientific ◽  
And Performance ◽  
Economic Well Being ◽  
The Way

Subject. The article reviews the way strategic threats to energy security influence the quality of people's life. Objectives. The study unfolds the theory of analyzing strategic threats to energy security by covering the matter of quality of people's life. Methods. To analyze the way strategic threats to energy security spread across cross-sectoral commodity and production chains and influences quality of people's living, I applied the factor analysis and general scientific methods of analysis and synthesis. Results. I suggest interpreting strategic threats to energy security as risks of people's quality of life due to a reduction in the volume of energy supply. I identified mechanisms reflecting how the fuel and energy complex and its development influence the quality of people's life. The article sets out the method to assess such quality-of-life risks arising from strategic threats to energy security. Conclusions and Relevance. In the current geopolitical situation, strategic threats to energy security cause long-standing adverse consequences for the quality of people's life. If strategic threats to energy security are further construed as risk of quality of people's life, this will facilitate the preparation and performance of a more effective governmental policy on energy, which will subsequently raise the economic well-being of people.

INTERNATIONAL BUSINESS IN THE CONDITION OF THE CORONA-CRISIS

2017 ◽  
Author(s):  
Karina Pasulka ◽  
◽  
Nataliya Kushnir ◽  
Keyword(s):  
International Business ◽  
Global Economy ◽  
German Economy ◽  
Italian Economy ◽  
The World

Introduction. The situation in the global economy and business during the COVID-19 pandemic is analyzed in this article. More than 30 million people worldwide have already been infected with the coronavirus, which came from China. However, the spread of the disease has also had an extremely serious impact on the economies of various countries in the world. The Organization for Economic Co-operation and Development has already said that it will take many years for the world to recover from the pandemic. EU GDP in the second quarter of 2020 showed a record decline - 14.4% year on year. The German economy returned to the level of 2011, the Spanish - in 2002, and the Italian economy was rejected in the early 1990s. These and other characteristics show the importance of research on this topic and problem, because it does not apply to a particular region or a particular country, but the whole world.

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