scholarly journals G20 Institutionalization: From Crisis-Management to Long-Term Global Governance

2016 ◽  
Vol 02 (03) ◽  
pp. 347-364 ◽  
Author(s):  
Wang Lei ◽  
Wang Rui
Keyword(s):  
Crisis Management ◽  
Global Governance ◽  
World Economy ◽  
Global Financial Crisis ◽  
Management Mechanism ◽  
The World ◽  
The Many ◽  
The Global Financial Crisis ◽  
High Level

Since its establishment, the Group of Twenty (G20) has undergone three phases of institutional transition: from an informal forum among finance ministers and governors of central banks at the beginning, to a crisis-management mechanism mainly to cope with the global financial crisis, and increasingly to a long-term platform for global governance in recent years. With increasing representation and mandates, the G20 has been playing a key role in forging high-level consensuses and coordinating policies and actions among major economies so as to keep the world economy and development on track. Faced by the many challenges within itself and from the changing dynamics of the world economy and development, the G20 has to improve its cooperative spirit, representativeness and effectiveness before it can become a full-fledged institution for global governance.

Implications of the Global Financial Crisis on Korea's Trade

2009 ◽  
Vol 8 (3) ◽  
pp. 46-81 ◽  
Author(s):  
Sangyeon Hwang ◽  
Hyejoon Im
Keyword(s):  
Trade Balance ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Balance Sheets ◽  
Positive Effects ◽  
The World ◽  
World Demand ◽  
Short Run ◽  
The Global Financial Crisis

In this paper, we examine the channels through which the current global crisis affects Korea's trade and assess the implications thereof. These five important channels under investigation are: (1) world demand, (2) domestic demand, (3) exchange rate, (4) credit markets, and (5) protectionism. We conclude that the world demand channel is the most important factor for the recovery of Korea's exports. We expect that depreciation followed by the crisis should generate only small positive effects on a trade balance in the short run. However, depreciation can erode the long-term competitiveness of domestic firms because it can deteriorate not only firms' balance sheets but also banks' balance sheets.

Ten years after the global crisis: Risks and prospects

2019 ◽  
pp. 37-53 ◽  
Author(s):  
M. V. Ershov
Keyword(s):  
Economic Development ◽  
Financial Crisis ◽  
World Economy ◽  
Global Financial Crisis ◽  
Global Crisis ◽  
The World ◽  
The Global Financial Crisis

The article analyzes the situation in the world and in Russia 10 years after the global financial crisis. It is shown that with the observed growth of the world economy, global risks, on the contrary, have not diminished, but increased, which creates the threat of new failures. The measures that can be taken by Russian regulators to neutralize external risks and stimulate the economic development of the country are considered.

Die Finanzkrise, die Ökonomen, der „Crashprophet“ und die Wissenschaft von der Ökonomie

2011 ◽  
Vol 52 (1) ◽  
Author(s):  
Max Otte
Keyword(s):  
World Economy ◽  
Global Financial Crisis ◽  
Economic Modelling ◽  
Brief Assessment ◽  
Track Record ◽  
The World ◽  
Modelling Techniques ◽  
Modern Economic ◽  
The Global Financial Crisis ◽  
Logical Result

AbstractThe global financial crisis of 2007-2008 was a clear and logical result of the financial and economic conditions which preceded it, yet highly respected economists the world over failed to foresee the crash, and many continued to discount the possibility of a recession even after the crisis was well underway. Inaccurate economic forecasting is by no means a new phenomenon, and this paper examines some of the institutional and psychological grounds for economists’ faulty track record. The paper also discusses issues associated with modern economic modelling techniques and offers a brief assessment of where the world economy stands today as well as where it might be heading.

scholarly journals The Impact of the Global Financial Crisis, Does It Sustain?

2016 ◽  
Vol 8 (10) ◽  
pp. 82 ◽  
Author(s):  
Bashar Al-Zu'bi ◽  
Hussein Salameh ◽  
Qasim Mousa Abu Eid
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Global Financial Crisis ◽  
Stock Market Index ◽  
The World ◽  
The Usa ◽  
Short And Long Term ◽  
The Global Financial Crisis ◽  
The Impact

<p>This paper studies the short and long term relationship between S&amp;P500 USA stock market index and the stock market indices of 30 countries around the world over the period June 2010-April 2015. We implement OLS regression and use error correction model to examine the short and long term relationship between the variables. Empirically, we find that there is a relationship on the short and long term between S&amp;P500 and the indices of 27 countries from East Asia, Europe, Latin America, Middle East as well as the countries of Australia and Canada. These results conclude that the global financial crisis of 2007-2008 significantly and lengthy increased the already high level of co-movement between the USA financial market and the observed stock market for 27 countries around the world. The findings from our research are important; however, we believe that further research based on our findings is necessary.</p>

THE WORLD ECONOMY: The global financial crisis and collapse in world trade

2009 ◽  
Vol 208 (1) ◽  
pp. 9-16
Author(s):  
Dawn Holland ◽  
Ray Barrell ◽  
Tatiana Fic ◽  
Ian Hurst ◽  
Iana Liadze ◽  
...  
Keyword(s):  
Financial Crisis ◽  
World Trade ◽  
World Economy ◽  
Global Financial Crisis ◽  
The World ◽  
The Global Financial Crisis

scholarly journals THE IMF’S ROLE AS A SUBJECT OF GLOBAL GOVERNANCE IN THE DEVELOPMENT OF THE WORLD ECONOMY

2019 ◽  
Vol 2019 (5) ◽  
pp. 48-56
Author(s):  
Tamara PANFILOVA ◽  
Keyword(s):  
Global Governance ◽  
World Economy ◽  
Good Practice ◽  
National Level ◽  
Annual Reports ◽  
Financial Policies ◽  
Current Trends ◽  
The World ◽  
Potential Risks ◽  
High Level

The author substantiates the proposition that the spread of crisis phenomena in the world economy has actualized the transformation processes in the system of global governance, primarily regarding the functions and activities of the IMF. Current trends include the following: supervision of the international monetary and financial system; monitoring the economic and financial policies of member states; strengthening the global financial security system; coordination of international cooperation and integration. The potential risks of the development of the world economy, including the extremely high level of global debt in general and its components in particular, are outlined. It is shown that annual reports, quarterly reviews and forecasts, IMF press releases with aggregate data on the main trends of the world economy, its individual regions and countries are very important both for the scientific community and for the authorities. The importance of forming a regulatory and legal environment for regulating the fiscal sphere as an integral part of the global governance architecture is emphasized. It is revealed that a common instrument of influence of international organizations is the development of the model (typical or framework) acts to regulate the relevant sphere of relations at the national level. The characteristic provisions of individual acts of a fiscal nature are presented. The provisions and standards of the Code of Good Practice for ensuring transparency in the fiscal area and the Guidelines for the management of public debt are mentioned as very important aspects for reforming the public finance sector of Ukraine.

scholarly journals Foreword

10.26458/1831 ◽  
2018 ◽  
Vol 18 (3) ◽  
pp. 15-19
Author(s):  
Elena GURGU
Keyword(s):  
World Economy ◽  
Global Financial Crisis ◽  
Financial System ◽  
European Central ◽  
Advanced Economies ◽  
Lehman Brothers ◽  
The World ◽  
Key Factor ◽  
The Global Financial Crisis ◽  
Global Financial System

A globally warning issued in September 2018 by the former president of the European Central Bank, Frenchman Jean-Claude Trichet says the world economy is exactly the way ahead of the economic crisis of 2008. He said that too many debts have done the global financial system as vulnerable as it was ten years ago in September 2008, when the American bank Lehman Brothers collapsed. Excessive indebtedness in advanced economies was a key factor in triggering the global financial crisis of 2007 and 2008, Jean-Claude Trichet said in an interview with AFP.Currently, debt growth in advanced countries, particularly in the private sector, has slowed, but this slowdown has been offset by an acceleration in emerging-nation debt growth. This makes the entire world financial system at least the same vulnerable as it was in 2008......

Epilogue

2014 ◽  
Author(s):  
Christopher Nobes
Keyword(s):  
Financial Reporting ◽  
International Organizations ◽  
Global Financial Crisis ◽  
Record Keeping ◽  
The World ◽  
Monitoring And Enforcement ◽  
History Of ◽  
The Global Financial Crisis ◽  
High Level ◽  
Double Entry

The ‘Epilogue’ takes an overview of accounting and considers some high level questions. How important has accounting been in the history of the world? It is clear that some sophisticated record-keeping system is necessary for larger and complex international organizations and double-entry bookkeeping serves well in this function, which is why it has gradually replaced other systems around the world. Can we rely on accounting? There are now fairly detailed rules on what to disclose and how to measure, plus monitoring and enforcement have been strengthened around the world. Did accounting cause the global financial crisis? Is financial reporting as good as it can get? And can we trust the auditors?

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