scholarly journals Contagion In MENA Countries During The 2008 Financial Meltdown

2013 ◽  
Vol 11 (7) ◽  
pp. 301
Author(s):  
Loujaina El Sayed ◽  
Nourhan Hegazi
Keyword(s):  
Financial Crisis ◽  
World Economy ◽  
Global Financial Crisis ◽  
Garch Model ◽  
Equity Markets ◽  
Correlation Model ◽  
Mena Countries ◽  
The Us ◽  
The World ◽  
The U.S

Despite originating in the U.S., the repercussions of the 2008 global financial crisis were spread all over the globe to affect all classes of economies, suggesting the presence of a global contagious effect.MENA countries, which have recently become more integrated into the world economy, were also severely impacted.However, studying the contagious effect of the global financial crisison MENA stock markets was not common in literature despite their importance for international diversification. This paper attempts to test for contagion from the U.S. to MENA equity markets during the 2008 global financial crisis using the change in correlations approach. We employ two models: the adjusted correlation model and the dynamic conditional correlations DCC-GARCH model. Results provide an evidence ofthe existence of contagion from the US to a number of MENA equity markets. The adjusted correlation model was proved tobe biased towards the conclusion of no contagion when compared to the findings of the DCC-GARCH model.

scholarly journals Origins and Resolution of Financial Crises: Lessons from the Current and Northern European Crises

2009 ◽  
Vol 8 (3) ◽  
pp. 178-220 ◽  
Author(s):  
Finn Østrup ◽  
Lars Oxelheim ◽  
Clas Wihlborg
Keyword(s):  
Financial Crisis ◽  
Housing Market ◽  
Political Institutions ◽  
Financial Crises ◽  
World Economy ◽  
Credit Crunch ◽  
Original Strain ◽  
Northern European ◽  
The World ◽  
The U.S

Since July 2007, the world economy has experienced a severe financial crisis that originated in the U.S. housing market. Subsequently, the crisis has spread to financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises rarely distinguishes between factors that create the original strain on the financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue that a financial crisis with its contagion within the system is caused by failures of legal, regulatory, and political institutions.

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.

Malaysia–US Bilateral Relations in the Aftermath of the 2008 Global Financial Crisis

2016 ◽  
pp. 285-298
Author(s):  
Mas Juliana Mukhtaruddin
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
External Trade ◽  
Department Of State ◽  
Bilateral Relations ◽  
Advanced Economies ◽  
The Us ◽  
The World ◽  
Tangible Evidence ◽  
Visible Effect

Malaysia–United States relations are enormously significant. From the perspective of the US Department of State, Malaysia is a significant player at both the regional and international levels. The world financial crisis that began in the US at the end of 2007 moderately affected the Malaysian economy. While the US was at the center of the crisis, Malaysia felt its effects as one of Asia's export-reliant economies. Regarding the implications of the crisis, some tangible evidence has been evaluated. The fourth quarter of 2008 was devastating for the world's advanced economies, including the US, and Malaysia's external trade-related sectors were severely struck. The primary reason for this visible effect was a disruption in the trade demand. Against this background, this paper examines the aftermath of the world financial crisis on the relations between Kuala Lumpur and Washington, particularly on the political and economic bilateral ties.

scholarly journals DID THE 2008 GLOBAL FINANCIAL CRISIS AFFECT THE BANKING CREDITS? A CASE OF REGIONS OF TURKEY

2020 ◽  
pp. 74-82
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Annual Data ◽  
2008 Financial Crisis ◽  
Dummy Variable ◽  
The Us ◽  
The World ◽  
The 2008 Financial Crisis ◽  
One Year

In 2008 the world faced a global crisis which is started from the US; thus it is named as a “US Great Recession. In this paper, we investigate whether the 2008 financial crisis has an effect on Turkish banking credits in regional case. For this aim we use Non-specialized Loans Deposit which is collected from The Banks Association of Turkey as an annual data. The period of the paper is 2004-2014. The selected regions are 11 NUTS1 regions; thus we have panel data with 121 observations. We use two dummy variable; first dummy values are 1 for 2008 and 0 for other years, a second dummy variable is 1 for 2008 and successor years; 0 for other years. The first dummy shows if the crisis affects only one year, the second dummy shows if the crisis affects crisis year and successor years.

scholarly journals Assumptions of the Global Economic Crisis and Its Inception in the Spring of 2020 Due to the COVID-19 Pandemic

2020 ◽  
Vol 15 (2) ◽  
pp. 191-212
Author(s):  
Alexey Portanskiy ◽  
◽  
Yulia Sudakova ◽  
Alexander Larionov ◽  
◽  
...  
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
International Organizations ◽  
Global Economy ◽  
World Economy ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
International System ◽  
The World ◽  
Global Economic Crisis

Analytical agencies, as well as international organizations, have identified significant threats to the development of the world economy, increasing the likelihood of a new global financial crisis in late 2020–early 2021. The main challenges to the system come from trade wars that could lead to a crisis in the international system of trade regulation, a decrease in the effectiveness of public policy instruments, and a deterioration in the dynamics of global economic growth. An important factor leading to a slowdown in the global economy in 2020 will also be the coronavirus pandemic, although it is difficult, in the first half of 2020, to assess its final impact. The combination of these negative factors, coupled with the unresolved problems of the 2008 global financial crisis, significantly increases the likelihood of a new global economic crisis which could surpass the Great Depression of the 1930s. This study systematizes the main forecasts by international organizations and analytical agencies for the growth of the world economy and considers various theoretical concepts to identify the symptoms of the impending crisis. Ultimately, this article offers options for reducing the negative impact of the crisis on Russia. In connection with the coronavirus pandemic, preliminary estimates have been made of the likely damage to the world economy and the prospects for its recovery.

MECHANISMS OF STRUCTURAL REFORMING OF CHINA’ ECONOMY IN THE CONTEXT OF DEVELOPMENT OF THE TRADE CONFLICT WITH THE USA

2019 ◽  
pp. 31-44
Author(s):  
Evgeniy N. Smirnov
Keyword(s):  
Financial Crisis ◽  
World Economy ◽  
System Analysis ◽  
Global Financial Crisis ◽  
Raw Materials ◽  
Problem Analysis ◽  
The World ◽  
Analysis And Synthesis ◽  
The Usa ◽  
Relationship Of

The world economy recovers from global financial crisis slowly and unevenly that calls a question about efficiency and advantage of economic globalization for the countries of the world. Developing countries recovered from global financial crisis of 2008–2009 comparative quickly, and it was promoted in many respects by the high prices of raw materials and low levels of debt of these countries. NowChinatakes leader positions in the international capital flow and world trade. Globalization had significant effect on scales of the involvement of the country into world economic communications that became one of the reasons of overheating of national economy. The economy ofChina, besides the increasing overheating potential, begins to be under pressure from the trade conflict initiated by theUSA. In these conditions problems of structural reforming ofChina’ economy, on that depend competitive positions of the country in the world economy depend, become aggravated. In modern Sinology, the problems of trade conflicts between countries are studied very fragmentally. Approaches of the author are based on the results previously obtained by Russian scientists Y. M. Galenovich, A. P. Mozias, M. L. Titarenko, and theoretical developments of leading research centers. Historical approach, comparative, system analysis and synthesis, prognostic and problem analysis were used as instrumental scientific methods in the research presented in the article. The author's ideas are based on the hypothesis of the relationship of «overheating», appearing in the economies with the growth of economic contradictions and conflicts between them.

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.

The World Economy

2008 ◽  
Vol 204 ◽  
pp. 9-14 ◽  
Keyword(s):  
Financial Crisis ◽  
Global Economy ◽  
World Economy ◽  
Large Scale ◽  
Banking System ◽  
The Us ◽  
The World ◽  
English Speaking ◽  
English Speaking World ◽  
Mortgage Defaults

A financial crisis, rooted in US mortgage defaults, has been building for several years. Its effects have seriously damaged the prospects for the global economy, and have particularly serious consequences for the English speaking world. Unsound lending permitted by poor regulation and worsened by lax bankruptcy laws has led the US, and potentially the rest of the OECD, to the brink of a large-scale recession. The scale of the potential slowdown depends upon the scale of losses to the banking system and their impacts on the ability of the banking system to lend.

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