scholarly journals A Conceptual Forecasting Analysis of International Trade Aspects Based on Globalization Impact Issues

2022 ◽  
Vol 10 (01) ◽  
pp. 2881-2887
Author(s):  
Stamatis Kontsas ◽  
Stavros Kalogiannidis
Keyword(s):  
Industrial Production ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Goods And Services ◽  
Fast Pace ◽  
Forecasting Analysis ◽  
Merchandise Trade ◽  
The Global Financial Crisis ◽  
Trade Partners ◽  
Similar Depth

Global GDP is really important for trade, since the larger the global economy, the more goods and services available for trade. Global GDP grew by around two-thirds in real terms between 2000 and 2020 – or 2.6% per year on average.2020 saw some of the largest trade reductions and output volumes for both industrial production and goods trade since WWII. The year 2020 was marked by some of the largest reductions in trade and output volumes since WWII. The declines in both world industrial production and goods trade in the first half of 2020 were of similar depth to those at the trough of the Global Financial Crisis (GFC). In addition, trade and production impacts across specific goods, services and trade partners were highly varied. Initial pandemic-era expectations for a double-digit decline in world merchandise trade in 2020 did not materialise. Global trade turned out to recover from the shock at an extraordinarily fast pace from around mid-2020.

Challenges on digital economy in sample of various income economies as an development instrument in Uzbekistan

2019 ◽  
Vol 2 (2) ◽  
pp. 41-53
Author(s):  
Ibragimova Gulirano ◽  
Husnuddinova Dilorom ◽  
Akhmatova Khurshida ◽  
Shodibekova Dildor
Keyword(s):  
Global Economy ◽  
Global Financial Crisis ◽  
Digital Economy ◽  
Main Role ◽  
Average Income ◽  
Economic Changes ◽  
Key Characteristics ◽  
Gradual Introduction ◽  
The Global Financial Crisis ◽  
Further Development

Recent economic changes have developed via modern technological prospective. Consistent measures for the development of digital economy are being implemented gradual introduction of e-commerce systems for electronic document flows and service of individuals. However, find solutions for the lack of a unified information and technology platform, which integrates the centralized information by just one digital economic reform in world regions. After the global financial crisis of 2001–2009 years, digital industries have been amid the most dynamic and promising in the global economy. However, equilibrium is lacked of benefits and risks in the digital economy around the world, which explains the need for global governance in this sphere. In this article authors analyzed main role and characteristics of digital economy around average income countries. Generally, reviewing define the key characteristics of this sector, as well as highlight the challenges to international cooperation. Modern approaches on legal entities is being implemented in Uzbekistan for further development.

Ocena antykryzysowej polityki gospodarczej Stanów Zjednoczonych i wybranych państw członkowskich Unii Europejskiej w latach 2005–2014

2016 ◽  
pp. 26-46
Author(s):  
Marcin Jan Flotyński
Keyword(s):  
United States ◽  
European Union ◽  
Financial Markets ◽  
Global Economy ◽  
Global Financial Crisis ◽  
The United States ◽  
The European Union ◽  
High Volatility ◽  
The Global Financial Crisis ◽  
Domestic Products

The global financial crisis in 2007–2009 began a period of high volatility on the financial markets. Specifically, it caused an increased amplitude of fluctuations of the level of gross domestic products, the level of investment and consumption and exchange rates in particular countries. To address the adverse market circumstances, governments and central banks took actions in order to bolster the weakening global economy. The aim of this article is to present the anti-crisis actions in the United States and selected member states of the European Union, including Poland, and an assessment of their efficiency. The analysis conducted indicates that generally the actions taken in the United States in response to the crisis were faster and more adequate to the existing circumstances than in the European Union.

Becoming the World’s Biggest Market

2018 ◽  
Author(s):  
Irene Spagna
Keyword(s):  
Global Economy ◽  
Global Financial Crisis ◽  
Credit Default Swaps ◽  
Deregulated Markets ◽  
Otc Derivatives ◽  
Regulatory Uncertainty ◽  
Credit Default ◽  
Basic Characteristics ◽  
The Global Financial Crisis

This chapter analyzes the growth of OTC derivatives before the global financial crisis of 2008 and the role of credit default swaps, in particular, in the near collapse of the global economy. It begins by exploring the basic characteristics of derivatives used as risk management instruments by investors to hedge against or exploit the volatility of asset prices. The analysis further reveals that the pre-crisis period was characterized by a broad-based consensus favoring deregulated markets and globally designed private rules. While not always unanimously supported, permissive public regulatory choices were often encouraged by interest group lobbying, the market-friendly views of many domestic authorities, and concerns about regulatory uncertainty and international competitiveness.

International Financial Centres after the Global Financial Crisis and Brexit

2018 ◽  
Keyword(s):  
New York ◽  
Financial Crisis ◽  
Global Economy ◽  
Global Financial Crisis ◽  
New Technology ◽  
Interdisciplinary Approach ◽  
Important Change ◽  
Social Scientists ◽  
The Global Financial Crisis ◽  
Financial Technology

This book gathers leading economic historians, geographers, and social scientists to focus on the developments in key international financial centres following the 2008 Global Financial Crisis and to consider the likely effects of Brexit on these centres. Eleven centres in eight countries are taken into consideration: New York, London, Frankfurt, Paris, Zurich/Geneva, Hong Kong/Shanghai/Beijing, Tokyo, and Singapore. The book addresses three main issues. The first is the hierarchy of international financial centres, in particular whether Asian financial centres have taken advantage of the crisis in the West. The second is the medium-term effects of the crisis, with respect to the volume of business activity (including employment), and the level of regulation, with concerns regarding the risks of regulatory overkill. And the third is the rise of new technology, known as fintech, possibly the most important change in the decade following the crisis, with questions as to whether it will render financial centres, as we know them, unnecessary for the functioning of the global economy, and which cities are likely to emerge as hubs of new financial technology. Finally, the book discusses the likely effects of Brexit on international financial centres, in particular London, Paris, and Frankfurt. The book takes a decidedly interdisciplinary approach, with a general introduction providing a global overview from a historical perspective, and a general conclusion providing a global overview from a geographical perspective. Its focus on the implications for global financial centres is unique among books about the aftermath of the Global Financial Crisis.

Globalization should be what states make of it

2021 ◽  
Author(s):  
◽  
Régis Le Moguédec
Keyword(s):  
Global Economy ◽  
Political Action ◽  
Global Financial Crisis ◽  
International System ◽  
State Intervention ◽  
Global Market ◽  
Financial Deregulation ◽  
The Great Depression ◽  
Public Money ◽  
The Global Financial Crisis

<p>A significant factor that prevented the Global Financial Crisis (GFC) from becoming as calamitous as the Great Depression of 1929, is the fact that states reacted swiftly to inject massive sums of public money to save the banks and the global financial system.  This massive state intervention highlighted the limits of the progressive deregulation of the international system which characterized the process of globalization. It showed that states had huge responsibilities in keeping the global economy afloat, albeit without a clear compass or direction. The apparent ‘anarchy’ of the global market system makes conceivable that, to paraphrase A. Wendt, “globalization should be what states make of it”.  Limiting the scope of study to the postmodern state, and looking at the discourse surrounding the globalization process that promotes de-regulation and limited government within a ‘neo-liberal paradigm’ it looks at the ‘democratic deficit’ which weakens the political decision-making process. If not yet a ‘paradigm shift’, the GFC has many ingredients of a crisis of capitalism which needs to re-invent itself, and political action is crucial to curb the excesses of finance. Looking at France, and the election of Francois Hollande on a strong ‘anti-finance’ platform in 2012 and its European Union dimension, it remains to be seen if that kind of shift will actually be able to operate and be successful to set the tone for global reforms.  In conclusion, the core argument is that the global ‘trial’ of the neoliberal paradigm and the concept of financial deregulation should now enter a new phase. It is historically and symbolically the defeat of the self-regulating markets as a blueprint for global prosperity. The present structures are inadequate, and states have to find new ways for cooperation in order to steer this integrated world towards greater cohesion.</p>

Institutional Systems for Equitable Wealth Creation: Replication and an Update of Judge et al. (2014)

2020 ◽  
Vol 16 (1) ◽  
pp. 5-31
Author(s):  
William Q. Judge ◽  
Stav Fainshmidt ◽  
J. Lee Brown
Keyword(s):  
Global Economy ◽  
Global Financial Crisis ◽  
Original Study ◽  
Replication Study ◽  
Wealth Creation ◽  
Policy Makers ◽  
Time Period ◽  
Comparative Capitalism ◽  
Multiple Paths ◽  
The Global Financial Crisis

ABSTRACTThis replication study was invited by the Editor in Chief of Management and Organization Review, Arie Y. Lewin. The original study by Judge, Fainshmidt, and Brown (2014) spanned the global financial crisis (2005–2010), and as such, this anomalous time period may not have been representative of most economies, or even the overall global economy. In this replication study we refine and extend Judge et al. (2014) which explored the provocative question – which form of capitalism works best in terms of ‘equitable wealth creation’? Similar to the earlier study, we find that there are multiple paths to macro-economic success. Notably, effective institutional configurations tend to combine high-quality regulatory institutions, effective skill development systems, and social cultures largely unaffected by corruption so there is some commonality amongst effective configurations. In contrast, ineffective institutional configurations tend to be relatively weak in one or several of these three critical sets of institutions. Importantly, we find some novel patterns emerging from the most recent data, including potentially new forms of capitalism associated with equitable wealth creation. In addition, we find that effective credit market institutions are more important, and collective bargaining institutions are less important than the original study suggested. We discuss implications for the comparative capitalism literature, policy makers, and the future of capitalism in the global economy.

The Fiscal Response to the Global Crisis

2009 ◽  
Vol 34 (3) ◽  
pp. 47-52
Author(s):  
Errol D'Souza
Keyword(s):  
Financial Markets ◽  
Global Economy ◽  
Financial Integration ◽  
Global Financial Crisis ◽  
Global Crisis ◽  
Fiscal Stimulus ◽  
Subprime Mortgage ◽  
Direct Exposure ◽  
The Global Financial Crisis ◽  
Lack Of Commitment

India's banks had no direct exposure to the subprime mortgage assets. Yet India was affected by the global financial crisis as its economy has significantly integrated with the global economy in the recent past in terms of the globalization of trade and financial integration. The global crisis resulted in a reversal of capital flows to India and a slump in the demand for its exports. This caused a deceleration in growth and the policy response was a fiscal and monetary stimulus that resulted in the fiscal deficit being the highest since 1993–94, the revenue deficit that is the largest ever in India's history, and an aggressive reduction in monetary policy rates. The massive government borrowing programme has resulted in a hardening of the yield on government securities which adversely affects aggregate output. As financial markets have factored in a lack of commitment to fiscal correction, the intentions of the fiscal stimulus have been impeded. The fiscal stimulus lacks sustainability, states Errol D'Souza.

scholarly journals Production Networks and Trade Patterns in East Asia: Regionalization or Globalization?

2011 ◽  
Vol 10 (1) ◽  
pp. 65-95 ◽  
Author(s):  
Prema-chandra Athukorala
Keyword(s):  
Financial Crisis ◽  
East Asia ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Trade Flows ◽  
Production Networks ◽  
Trade Patterns ◽  
Republic Of China ◽  
Final Assembly ◽  
The Global Financial Crisis

This paper examines the implications of global production sharing for economic integration in East Asia with emphasis on the behavior of trade flows in the wake of the 2008 global financial crisis. Although trade in parts and components and final assembly within production networks (“network trade”) has generally grown faster than total world trade in manufacturing, the degree of dependence of East Asia on this new form of international specialization is proportionately larger than elsewhere in the world. Network trade has certainly strengthened economic interdependence among countries in the region with the People's Republic of China playing a pivotal role as the premier center of final assembly. However, contrary to popular belief, this has not lessened the dependence of the export dynamism of these countries on the global economy. This inference is basically consistent with the behavior of trade flows following the onset of the global financial crisis.

Significance of BRICS: Regional Powers, Global Governance, and the Roadmap for Multipolar World

2018 ◽  
Vol 4 (2) ◽  
pp. 182-191 ◽  
Author(s):  
Sudip Chakraborty
Keyword(s):  
Global Governance ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Governance Structure ◽  
Regional Powers ◽  
Political Issues ◽  
Emerging Nations ◽  
The Usa ◽  
Distribution Of Power ◽  
The Global Financial Crisis

The article justifies the optimism of new global order. The global financial crisis that had erupted in the USA during 2008 battered the global economy. The disaster paved the way for rethinking on changes in the architecture of global governance. The fragile political and economic global situation triggered by the crisis led to emergence of regional power confederacy, particularly within the developing world. Consequently, the importance of Brazil, Russia, India, China, and South Africa (BRICS) within the global governance structure has gone up. The steady emergence of BRICS in global politics has been mainly based on their excellent economic performances. This development on economic front coincides with increasing cooperation and coordination and formulating common positions on global political issues. BRICS, as a united entity, is expected to shape global governance in the twenty-first century. The influence already demonstrated by these emerging nations will surely continue to redistribute the balance of power in international financial institutions in favor of developing nations. Although the future of BRICS cannot be predicted with certainty, its combined efforts and the results of its meetings thus far reflect the potential of the group of emerging nations to change the existing distribution of power around the globe.

Introduction

Focaal ◽  
2017 ◽  
Vol 2017 (78) ◽  
pp. 1-8 ◽  
Author(s):  
Marguerite van den Berg ◽  
Bruce O’Neill
Keyword(s):  
Financial Crisis ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Free Time ◽  
Thematic Section ◽  
Advanced Capitalism ◽  
Financial Crisis Of 2008 ◽  
Postcolonial Africa ◽  
The Global Financial Crisis ◽  
Insight Into

Nearly a decade after the global financial crisis of 2008, this thematic section investigates one way in which marginalization and precarization appears: boredom. An increasingly competitive global economy has fundamentally changed the coordinates of work and class in ways that have led to a changing engagement with boredom. Long thought of as an affliction of prosperity, boredom has recently emerged as an ethnographically observed plight of the most economically vulnerable. Drawing on fieldwork from postsocialist Europe and postcolonial Africa, this thematic section explores the intersection of boredom and precarity in order to gain new insight into the workings of advanced capitalism. It experiments with ways of theorizing the changing relationship between status, production, consumption, and the experience of excess free time. These efforts are rooted in a desire to make sense of the precarious forms of living that proliferated in the aftermath of the global financial crisis and that continue to endure a decade later.

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