scholarly journals Ukraine: Facing Default Under Conditions of Global Uncertainty

2015 ◽  
Vol 5 (2) ◽  
pp. 1-10
Author(s):  
Zhuk Pavlo
Keyword(s):  
Foreign Investment ◽  
Global Financial Crisis ◽  
Political Crisis ◽  
Business Climate ◽  
Limited Growth ◽  
Transparency International ◽  
Doing Business ◽  
The Global Financial Crisis ◽  
Global Uncertainty ◽  
Deep Recession

AbstractUkraine faces a threat of full-fledged default and deep financial and political crisis. The current deep recession is the country's second major economic crisis in ten years. Ukraine was severely affected by the global financial crisis in 2008, with its economy shrinking by 15% in 2009. The economy remained weak in the aftermath, as former government caused the business climate worsening. The lack of reforms limited growth of GDP to just 0.3% in 2012 and remained static in 2013. By the end of 2013, Ukraine was already on the brink of collapse. The conflict in the eastern part of the country has further exacerbated the recession. Today the sources of economic growth in Ukraine have been exhausted, and the country is strongly increasing its debts trying to attract foreign investment. The government’s reform efforts have so far failed to significantly improve the country’s business climate. Ukraine is ranked 83rd out of 189 countries in the latest World Bank's ‘Doing Business’ 2016 index. This score is the second worst in Europe. Ukraine is still considered the most corrupt country in Europe as well (rated at number 142 out of 175 by Transparency International in 2014). The persistent state of war has disrupted industrial production, which is mainly located in the eastern part. The article elucidates recent events in Ukraine as well as gives a brief historical overview. The influence of misleading governance of economic situation is revealed. The positive scenario, in which Ukraine overcomes default, is unlikely to happen unless the firm measures are to be taken.

Laos in 2009: Recession and Southeast Asian Games

Asian Survey ◽  
2010 ◽  
Vol 50 (1) ◽  
pp. 241-246 ◽  
Author(s):  
Kristina Jöönsson
Keyword(s):  
Financial Crisis ◽  
Foreign Investment ◽  
Growth Rates ◽  
Global Financial Crisis ◽  
Southeast Asian ◽  
Hydroelectric Power ◽  
The Global Financial Crisis

Laos in 2009 was colored by the Southeast Asian Games held in December, and by the effects of the global financial crisis. Growth rates declined as foreign investment, primarily in hydroelectric power and infrastructure, was postponed. Simultaneously, efforts were made to strengthen the reputation of the country internationally.

scholarly journals Advantages, Disadvantages and the Performance of Foreign Direct Investment in the Republic of Kosovo 2008-2019

2020 ◽  
Vol 4 (1) ◽  
pp. 14-19
Author(s):  
Getoar LUBENIQI
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
Foreign Investment ◽  
Direct Investment ◽  
Business Environment ◽  
Business Climate ◽  
Foreign Investments ◽  
Advantages And Disadvantages ◽  
Doing Business ◽  
The Republic

Economic development is an aspiration for every country in the world including Kosovo. Foreign Direct Investment (FDI) plays a very important role in the economic development of Kosovo which is in the process of transition. For Kosovo, it is essential to have an accelerated pace of economic growth, lower unemployment, higher quality of life, lower demographic migration and lower poverty rates, thus attracting FDI has a direct and very important role to play. Although Kosovo has a large number of advantages for attracting foreign investment, there are also a number of challenges or disadvantages that are very evident which negatively impact on current and potential investors in the future. Based on the data analysis, the overall trend of FDI has declined in recent years, therefore it is very important for Kosovo to develop further steps to improve the business climate in Kosovo and attract foreign investments. The purpose of this paper is to analyze the performance of FDI in Kosovo 2008-2019, to analyze the advantages and disadvantages of doing business in Kosovo, to identify where Kosovo stands in terms of doing business and what is new for Kosovo in a way that improve the business environment and attract foreign investment. To achieve this goal of comparative analysis and identification, the integrative review method was used.  Key words: Republic of Kosovo, Direct Foreign investments, Business environment, Economic Development, Doing Business.

The Euro Area In Crisis, 2008–18

2020 ◽  
Author(s):  
Christos Hadjiemmanuil
Keyword(s):  
European Union ◽  
Gross Domestic Product ◽  
Euro Area ◽  
Global Financial Crisis ◽  
The European Union ◽  
The Us ◽  
The World ◽  
The Global Financial Crisis ◽  
Deep Recession ◽  
The Eu

In autumn 2008, just as the euro was approaching its tenth anniversary, the European Union (EU) became embroiled in the Global Financial Crisis (GFC). Elsewhere in the world, including in the US, where it originated, the GFC caused a very deep recession but then receded, and was essentially over by the end of 2009. In the EU, however, it took a double-dip form, with the EU-28 area’s real gross domestic product (GDP) suffering a -4.4 per cent fall in 2009 and another -0.5 per cent fall in 2012. The timing and impact of the crisis differed significantly across Member States, and the recovery was uneven. Taken as a whole, the euro area (EA19) performed worse than the rest of the EU, especially in 2012–13, when it lost -1.3 per cent of GDP, and only returned to its 2007 GDP level in 2015.

scholarly journals The necessity of evaluation of deregulation processes in business environment of Ukraine considering the world practice

2021 ◽  
Vol 70 (3) ◽  
pp. 111-121
Author(s):  
M. Farion ◽  
V. Matsko
Keyword(s):  
Foreign Investment ◽  
Business Processes ◽  
Business Environment ◽  
Main Task ◽  
Business Climate ◽  
Industrial Base ◽  
Business Units ◽  
Doing Business ◽  
National Market ◽  
Primary Model

Deregulation is the basis for creating a national business model that should be close to European ones. Business climate in Ukraine has been characterized by unstable position that did not give opportunities to develop the national economy. Investors and entrepreneurs, during the period of independence, have noticed the cyclical character of the supporting level for doing business, it means that most state regulators justified their relevance, but many of them are ineffective, or are not relevant. The impossibility of business transparency has led to the reduction in the number of business units, as well as investment resources. The creation of favorable investment climate is the main task and object of the investigation for many scientific works. Transparency of the market, minimization of regulatory barriers and control bodies, as well as fair rules for organizing and doing business, can radically change the environment for business. Despite the attitude to Ukraine by foreign investors as for the country with significant business prospects, the level of foreign investment attraction remains low. Theoretically, it is assumed that with advantageous geographical provisions, industrial base and significant land resources, Ukraine has been able to triple capital in the conditions of existence of the favorable primary model of business management. The agrarian and energy industries could become dominant in attracting external capital. However, the recent years showed the significant reduction in foreign investment in the economy of Ukraine, and business players on the national market are trading, partially industry and construction, which also work at a small level of profitability, and the current economy state proves that these sectors cannot significantly effect on its development in perspective. Thus, searching for possible ways to improve the business environment, where the key indicator is the deregulation of business processes, remain relevant and should become the basis for economic reform without which Ukraine will not be able to become a highly competitive state, and therefore economic uncertainty will continue to affect its development negatively.

scholarly journals Zwischen Bankenrettungen und autoritärem Wettbewerbsregime

2012 ◽  
Vol 42 (168) ◽  
Author(s):  
Mathis Heinrich
Keyword(s):  
Global Financial Crisis ◽  
The Political ◽  
The European Union ◽  
Power Networks ◽  
Progressive Change ◽  
Political Struggles ◽  
European Crisis ◽  
Alternative Approaches ◽  
The Global Financial Crisis ◽  
Deep Recession

The global financial crisis did not only plunge the European Union into a deep recession, but also released remarkable contradictions within the organisation and regulation of the European economy. As complex as the structural causes of the crisis are, the diverse and disputed are the political struggles and policy reactions to it. In particular, the different spheres of activity in European crisis management are characterised by variegated compromises, however no progressive change in European modes of regulation and underlying transnational social and political power networks seems to take place. Rather, alternative approaches are getting constantly disarticulated by discursive and organisational means, while authoritarian European policy reactions do not only deepen the crisis dynamics in Europe, but also more and more point towards a major crisis of democracy.

scholarly journals International Crises and China's Rise: Comparing the 2008 Global Financial Crisis and the 2017 Global Political Crisis

2017 ◽  
Vol 10 (4) ◽  
pp. 383-401 ◽  
Author(s):  
Brantly Womack
Keyword(s):  
United States ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Political Leadership ◽  
Political Influence ◽  
The United States ◽  
Political Crisis ◽  
The World ◽  
The Global Financial Crisis ◽  
Relative Change

Abstract The profound political uncertainties in international politics created by developments in the United States, Europe, the Middle East, and North Korea (DPRK) are similar in some respects to the economic uncertainties created by the global financial crisis of 2008. In both crises there is a sudden and general awareness of vulnerability, and it is unclear how long the current uncertainty will last. With the election of Donald Trump, the United States is again at the centre of a global crisis. China is again the least vulnerable of the major states. Everyone including China is disadvantaged by the current political crisis. However, in relative terms China stands to gain, as it did in 2008. The relative change in international relationships will be most obvious in Asia. The focus here is on the cycle of uncertainty that characterizes both crises. However, the effects of the current political crisis are likely to contrast with the effects of the earlier economic crisis. From 2008 to 2014, other countries were worried about their own economies and about the world economy in general, and also about what China’s arrival as a regional and global economic power might mean for them. Meanwhile, American leadership under Obama seemed less assertive, while China appeared to be more assertive. By contrast, in 2015, China’s economy had already entered a ‘new normal’ of slower economic growth, while its consolidated political leadership supports multilateral globalization. American political leadership is unpredictable in both general strategic terms and in terms of crisis management. Just as the world needed the economic lift provided by China in 2008, it now needs the political reassurance of stability that China appears to provide. However, the United States may find it difficult to adjust to the shift in political influence.

scholarly journals The Global Economics of European Populism: Growth Regimes and Party System Change in Europe (TheGovernment and Opposition/Leonard Schapiro Lecture 2017)

2018 ◽  
Vol 54 (2) ◽  
pp. 193-225 ◽  
Author(s):  
Jonathan Hopkin ◽  
Mark Blyth
Keyword(s):  
Financial Crisis ◽  
Party System ◽  
Global Financial Crisis ◽  
Party Systems ◽  
Political Crisis ◽  
The Political ◽  
Political Systems ◽  
Current Period ◽  
Growth Regime ◽  
The Global Financial Crisis

The expanding literature on growth regimes has recently been applied to explain the growth of populist movements across the OECD. Such applications posit a stand-off between debtors and creditors as the core conflict that generates populism. While insightful, the theory has problems explaining why, in some European countries, such movements pre-date both the global financial crisis and the austerity measures that followed, factors that are commonly seen as causing the rise of populism. This article takes a different tack. It derives shifts in both political parties and party systems from the growth regime framework. In doing so it seeks to explain the evolution of the cartel form of party that dominated the political systems of Europe from the late 1990s through to the current period and why that form proved unable to respond meaningfully to both the financial crisis and the political crisis that followed it.

scholarly journals STRATEGIC MANAGEMENT OF TRANSNATIONAL BANKS IN THE INTERNATIONAL MARKET AFTER THE GLOBAL FINANCIAL CRISIS

2018 ◽  
Vol 4 (1) ◽  
pp. 131-147
Author(s):  
Dmytro Tsyhaniuk ◽  
Vita Boychenko
Keyword(s):  
Financial Crisis ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Banking System ◽  
Transmission Mechanism ◽  
Banking Systems ◽  
Doing Business ◽  
Crisis Recovery ◽  
Ease Of Doing Business ◽  
The Global Financial Crisis

The article identifies post-crisis determinants of strategic management of transnational banks in the market of direct investments by means of the correlation analysis of the dependence of growth of external assets of transnational banks of European countries on the indicators of profitability and financial stability of banking systems of the countries of placement of subsidiary banks, the efficiency of the transmission mechanism of monetary policy in these countries, the structure of a complex financial crisis and the speed of post-crisis recovery of the country, ease of doing business. There is no obvious connection between the presence of foreign banks in the banking system and indicators of profitability, ease of doing business and financial stability of banking systems. This is confirmed by the correlation analysis of 45 indicators on the example of 26 European countries for 2009–2011 (the period immediately after the end of the global financial crisis of 2008–2009). It is proved that in the post-crisis period, for transnational banks, the decision of increasing/decreasing the volume of assets in the banking system of the host country is dominated by: 1) the structure of a complex financial crisis; 2) the speed of post-crisis recovery of economies and banking systems of these countries; 3) the effectiveness of the transmission mechanism of monetary policy in these countries

On the formation of a New Paradigm of fiscal Policy

2013 ◽  
pp. 152-158 ◽  
Author(s):  
V. Senchagov
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Real Economy ◽  
New Paradigm ◽  
Monetary Aggregate ◽  
The Past ◽  
The Global Financial Crisis

Due to Russia’s exit from the global financial crisis, the fiscal policy of withdrawing windfall spending has exhausted its potential. It is important to refocus public finance to the real economy and the expansion of domestic demand. For this goal there is sufficient, but not realized financial potential. The increase in fiscal spending in these areas is unlikely to lead to higher inflation, given its actual trend in the past decade relative to M2 monetary aggregate, but will directly affect the investment component of many underdeveloped sectors, as well as the volume of domestic production and consumer demand.

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 

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