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

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.

TRADE AND THE CRISIS: PROTECT OR RECOVER

2010 ◽  
Vol 01 (02) ◽  
pp. 165-181 ◽  
Author(s):  
ROB GREGORY ◽  
CHRISTIAN HENN ◽  
BRAD MCDONALD ◽  
MIKA SAITO
Keyword(s):  
Financial Crisis ◽  
World Trade Organization ◽  
World Trade ◽  
Global Financial Crisis ◽  
Doha Round ◽  
Trade Restrictions ◽  
High Unemployment ◽  
Multilateral Trade ◽  
The World ◽  
The Global Financial Crisis

We show that new trade restrictions implemented since the onset of the global financial crisis have had — in the limited products targeted — a strong distortionary impact on trade. Their aggregate impact is modest, however, as most countries have resisted a widespread resort to protectionism. Looking ahead, sustained high unemployment, uneven growth, and an unwinding of government stimulus measures suggest that protectionist pressures may rise. Continuing and further enhancing monitoring of all protectionist measures will help, but the surest way to avoid such a downside scenario is to tighten multilateral trade commitments by completing the World Trade Organization (WTO) Doha Round.

scholarly journals OVERCOMING GLOBAL IMBALANCES IN THE WORLD ECONOMY IN THE CONTEXT OF EXACERBATION OF THE SOCIO-ECONOMIC CRISIS

2021 ◽  
Author(s):  
Bohdan Zavalii ◽  
Nataliia Skrypnyk
Keyword(s):  
Economic Crisis ◽  
Current Account ◽  
World Trade ◽  
World Economy ◽  
Global Financial Crisis ◽  
Current Account Deficit ◽  
Global Imbalances ◽  
The Us ◽  
The World ◽  
The Global Financial Crisis

The article considers methods of overcoming global imbalances in the world economy in the context of exacerbation of the socio-economic crisis. The definition of the concept of global imbalances formulated and their classification was covered. The article highlights the periodicity of global financial imbalances and global imbalances that affect macroeconomic development. It is determined that in recent decades, global economic development has undergone several economic crises that have created global imbalances in world trade and redistribution of capital and resources of national economies. The G20 premier forum for international economic cooperation must form a list of recommendation that every country should follow in order to overcome global imbalances. In addition, analyzed that all this is happening in the context of the slow growth of world trade since the global financial crisis of 2008 and the recovery of the world's economies from the shock caused by the spread of the COVID-19 epidemic. The article highlights the US deficit relative to gross domestic product and identifies its impact on the structure of global imbalances. It highlights how the US current account deficit affects the formation of current local imbalances between national economics. It analyzed that 2020 was a stage of economic collapse, similar in nature to the Great Depression of the 1930s. In the article was determined that global imbalances are the compound of deficits and surpluses on the current account. It is determined that the significant decline in international trade during the period 2020-2021 caused by the effects of the COVID-19 pandemic. It is determined that the new economic uncertainty is reflected in world capital markets in general and in international financial markets, in particular, in the volatility of capital flows to the economies of developing countries. The paper highlighted measures to support the countries most affected by COVID-19, as an example of cooperation in reducing today's global imbalances. All the above aspects formed and described in the following article with reasonable considerations and supplemented by examples of factual data.

ASPEK ETIK DAN SISTEMIK DALAM EKONOMI DAN BISNIS ISLAM

ALQALAM ◽  
2014 ◽  
Vol 31 (1) ◽  
pp. 187
Author(s):  
Budi Harsanto
Keyword(s):  
Financial Crisis ◽  
Business Ethics ◽  
Moral Hazard ◽  
Global Financial Crisis ◽  
Financial Institution ◽  
Research Question ◽  
Academic Journals ◽  
Lehman Brothers ◽  
The World ◽  
The Global Financial Crisis

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 

scholarly journals Increase in Consumer Debt Preceding Crisis Due to Advancement in Technology, Further Evidence Supporting the Idea No Real Estate Bubble Existed Preceding Crisis Presented by Eddison Walters Risk Expectation Theory of the Global Financial Crisis of 2007 and 2008: The Case for Eddison Walters Modern Economic Analysis Theory

2020 ◽  
Vol 13 (9) ◽  
pp. 122
Author(s):  
Eddison T. Walters
Keyword(s):  
Financial Crisis ◽  
Economic Analysis ◽  
Global Financial Crisis ◽  
Technological Advancement ◽  
Analysis Theory ◽  
The World ◽  
Modern Economic ◽  
Expectation Theory ◽  
The Global Financial Crisis ◽  
Insight Into

The researcher called for economic research to consider the potential effect of advancement in technology on analysis of economic data in Eddison Walters Modern Economic Analysis Theory in the future represented a paradigm shift in economic analysis that will significantly reduce the potential for error due to data distortion in the future. The foundation of the world's economy is based on the sharing of information, yet very little attention has been given to the effect of technology advancement in the analysis of data. The researcher of the current study highlighted the critical nature of sharing information to the development of the world’s economy in the past, as well as the critical nature of sharing information to the world’s economy today. Advancement in technology has drastically improved the sharing of information and has led to the globalized economy. The lack of evidence supporting the widely accepted theory of the Global Financial Crisis of 2007 and 2008 prompted the investigation by the current researcher aimed at gaining insight into economic factors that were responsible for conditions contributing to the Global Financial Crisis of 2007 and 2008. Walters (2018) presented evidence suggesting no financial bubble existed before the Global Financial Crisis of 2007 and 2008. The study resulted in the development of “Eddison Walters Risk Expectation Theory of The Global Financial Crisis of 2007 and 2008”. The theory presented an alternative explanation for the financial crisis. The researcher called for additional investigation to gain insight into the nature of the cause of the Global Financial Crisis of 2007 and 2008. Further investigation in Walters (2019) provided evidence supporting the idea, technological advancement led to the rapid growth in home prices before the Global Financial Crisis of 2007 and 2008. The result from the analysis of data in Walters (2019) revealed the following, 0.989 Adjusted R-square, 194.041 Mean Dependent Variable, 5.908 Square Error of Regression, and 488.726 Sum-of-Square Residual, from nonlinear regression analysis. The dependent variable in the study was, “home purchase price” and the independent variable was, “advancement in technology”. The current study continued the investigation into factors that were described in the literature which set the conditions leading to the Global Financial Crisis of 2007 and 2008. Gaining insight into the effect of technological advancement on the significant increase in consumer debt prior to the Global Financial Crisis will significantly contribute to the understanding of the economic environment before the Global Financial Crisis of 2007 and 2008. Insight into the effect of advancement in technology on the increase in consumer lending prior to the Global Financial Crisis of 2007 and 2008, will significantly contribute to the understanding of the Global Financial Crisis of 2007 and 2008.

The Global Financial Networks

2018 ◽  
Author(s):  
Dariusz Wójcik
Keyword(s):  
Public Finance ◽  
Financial Crisis ◽  
World Economy ◽  
Global Financial Crisis ◽  
Global Network ◽  
Financial Networks ◽  
Business Services ◽  
Dynamic Framework ◽  
The Core ◽  
The World

The chapter outlines the concept of the global financial networks, defined as networks of the financial and business services firms, and their activities linking financial centres, offshore jurisdictions, and the rest of the world. It is a concept that helps to map finance, place it on the map of the world economy, and analyse the latter in a dynamic framework accounting for the forces of globalization and financialization. At the core of the global financial networks lies the global network of securities centres, focused on the creation, distribution, and circulation of securities, which contributed to the recent global financial crisis. Major trends reshaping the global financial networks include the rise of regulation and public finance, technologies connecting investors, borrowers and lenders with each other, and a potential geo-financial shift towards Asia.

Assessing The Impact Of The Global Financial Crisis On GCC Countries

2010 ◽  
Vol 8 (2) ◽  
Author(s):  
Hisham H. Abdelbaki
Keyword(s):  
Financial Crisis ◽  
Interest Rates ◽  
Global Financial Crisis ◽  
The United States ◽  
Font Size ◽  
Negative Effects ◽  
Gcc Countries ◽  
The World ◽  
The Global Financial Crisis ◽  
The Impact

<p class="MsoNormal" style="text-align: justify; margin: 0in 27pt 0pt;"><span style="font-family: Times New Roman;"><span style="color: #0d0d0d; font-size: 10pt; mso-bidi-language: AR-EG;">No doubt, the </span><span style="color: #0d0d0d; font-size: 10pt;">international financial crisis that started in the United States of America will cast its effects on all countries of the world, developed and developing. Yet these effects vary from one country to another for several reasons. The GCC countries would not escape these negative effects of this severe crisis. The negative effects of the crisis on gulf countries come from many aspects: first, decrease in price of oil on whose revenues the development programs in these countries depend; second, decrease in the value of US$ and the subsequent decrease in the assets owned by these countries in US$; third, a case of economic stagnation will prevail in the world with effects starting to appear. </span><span style="color: #0d0d0d; font-size: 10pt; mso-bidi-language: AR-EG;">It is obvious that this would be reflected on the real sector in the economies causing a series of negative effects through decrease of the world demand for exports of GCC countries of oil, petrochemicals and aluminum.<span style="mso-spacerun: yes;">&nbsp; </span>Lastly, increased inflation rates with decreased interest rates will result in a decrease in real interest with an accompanying decrease in incentives for saving and consequently investment and economic development. The main aim of the research is to assess the economic effects of the global financial crisis on GCC countries. The paper results are that the big reserves of foreign currencies achieved by the GCC countries in the past few years have helped increase their ability to bear the effects of the financial effects on one hand and their ability to adopt expansionary policies through pumping liquidity to absorb the regressive effects of the crisis on the other. The paper recommends the necessity of taking precautionary procedures for the effects which will result from the expansionary policies effective in GCC countries. <strong></strong></span></span></p>

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