Crisis in Greece

2011 ◽  
pp. 70-78
Author(s):  
Y. Kvashnin
Keyword(s):  
Public Debt ◽  
World Economy ◽  
Medium Term ◽  
Quick Recovery ◽  
The World ◽  
Policy Challenge ◽  
The Government ◽  
Near Future ◽  
Of Greece ◽  
The Eu

The author points out that, despite some success in 2010, the medium-term prospects of Greece do not inspire much optimism. Even in the case of a quick recovery of the world economy in the next two years (which is highly questionable), the country will face a continuation of the recession. It is very likely that in the near future the government will have to restructure public debt, which reached 125% of GDP by 2010. Besides that, Greece faces a very difficult foreign policy challenge, that is to restore the credibility from the EU and to prove that Greece’s admittance to the Eurozone was not a mistake.

scholarly journals IMPACT OF THE GOVERNMENT DEBT ON ECONOMIC DEVELOPMENT OF COUNTRY

2019 ◽  
pp. 23-36
Author(s):  
Taras MARSHALOK ◽  
Ivanna MOROZ
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
Positive Impact ◽  
Developed Countries ◽  
Research Process ◽  
The Public ◽  
Long Run ◽  
The World ◽  
The Government ◽  
The Eu

Introduction. An increase in public debt may have a negative, neutral or positive impact on the country's economic development. A big loan does not mean big growth; it all depends on how the public money is spent. The same amount of money spent by governments from dif­ferent countries has a different meaning for domestic development and the dynamics of public debt. The reasons are differences in the size of GDP, the structure of government borrowings, the shadow economy. Purpose. The objective of this paper is to deepen the theoretical backgrounds and applied aspects of influence of the public debt on the economic development of the country. Methods. In the research process, a set of research methods and approaches were used: systemic, structural-functional, comparisons and others. Results. The problem of a high level of public debt is acute in many countries throughout the world, including Ukraine. Nobody can say for sure whether a high public debt holds back the country's economic development. Theoretically, economically weaker countries, having regard to the financial constraints and economic needs, should have a higher level of public debt in relation to GDP than countries with high levels of development. However, comparing the data on the ratio of public debt and GDP in the EU, it can be noted the following: the higher indicators in the more developed countries of the EU. The latter, in fact, are the largest lenders of the world economy and at the same time have the largest volumes of the public debt both in absolute terms and in relation to GDP. As a result of the unsatisfactory financial state of the public sector, household saving goes to the repayment of the higher-level commitments, and not for the financing of the development of companies. This is especially problematic if we look at the situation of future generations – they will have less capital at their disposal. Public debt is a reduction in future revenues; hence, it is an intergenerational problem. Conclusions. It is possible to make proposals that will have a significant impact on the growth of the economy and the reduction of the public debt: – internal borrowing but not the external loans are economically justified. In this case, the debts do not increase the money base and the turnover of funds is carried out within the state; – entrepreneurship requires the systematic and consistent support that will stimulate the economic development, which needs stable business conditions in the long run.

Upheaval in the distribution of power in the world economy: Problems and outlook of the world economy to 2050

2017 ◽  
pp. 114-127 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Policy ◽  
International Trade ◽  
World Economy ◽  
Emerging Market ◽  
Detailed Review ◽  
Depressed State ◽  
Industry Output ◽  
The World ◽  
Distribution Of Power ◽  
The Eu

Causes of upheaval in the distribution of power among large advanced and emerging market economies in the XXI century, especially in industry output and international trade, are a topic of the paper. Problems of employment, financialization and income distribution inequality as consequences of globalization are identified as the most important. Causes of the depressed state of the EU and the eurozone are presented in a detailed review. In this content, PwC forecast of changes in the world economy by 2050, to the author’s view, optimistically provides for wise and diligent economic policy.

Coronavirus economic crisis in the world economy: features and consequences

2020 ◽  
pp. 7-21
Author(s):  
R. Khasbulatov ◽  
A. Byasharova
Keyword(s):  
Economic Crisis ◽  
World Economy ◽  
The World ◽  
The Government

The article reveals the features of a qualitatively new global coronavirus-economic crisis as well as its dangerous consequences for all countries with no exceptions. Not one single country stays aloof from this crisis. The reaction of the government, their mitigation activities is also discussed in the article.

The World Economy

2004 ◽  
Vol 187 ◽  
pp. 8-35
Keyword(s):  
World Economy ◽  
Key Factors ◽  
The Us ◽  
The World ◽  
Sustainable Recovery ◽  
The Eu

The two key factors underlying our forecast this quarter are the continued depreciation of the US$, which is about 4½ per cent weaker in effective terms than in October and 18 per cent below its recent peak in early 2002, and the emergence of what appears to be a sustainable recovery in Japan. Our projections for world growth this year incorporate significant upward revisions for the world's two largest economies, the US and Japan, while the outlook for the EU and Canada remains largely unchanged, although they also gain modest support from stronger demand in the US and Asia.

scholarly journals The Roles of English in the Development of Tourism and Economy in Indonesia

2021 ◽  
Vol 11 (3) ◽  
pp. 305-313
Author(s):  
Ida Ayu Made Sri Widiastuti ◽  
◽  
I Nengah Dasi Astawa ◽  
Ida Bagus Nyoman Mantra ◽  
Putu Herny Susanti ◽  
...  
Keyword(s):  
Human Resources ◽  
Industrial Development ◽  
World Economy ◽  
National Development ◽  
Tourism Industry ◽  
Economic Community ◽  
Industry Sector ◽  
Tourism Sector ◽  
The World ◽  
The Government

Tourism is very necessary to continue to be developed to improve the economy in Indonesia and increase the position of the country geographically, which is very strategic for tourism and the world economy. For this reason, the ability to communicate in English is absolutely necessary, in order to compete with workers from other countries, so that they can contribute to the improvement of the national economy. The ability to communicate in English is a strategic sector in the development of highly competitive human resources in the tourism industry sector and in the global economic community. By having good English communication skills, it will be easier to grab market share in the tourism industry sector and the economic sector. The tourism sector as one of the prime industrial development is developed in order to further increase the rate of national development. For this reason, it is necessary that the government continues to increase its resilience, policies, and increase the development of tourism with a view to further developing the community's economy and increasing the ability to speak English so that human resources are able to compete in various tourism industries so that the economy will increase.

scholarly journals World trade and regional trade orientation in the context of forthcoming transatlantic trade and investment partnership

Equilibrium ◽  
2015 ◽  
Vol 10 (3) ◽  
pp. 105 ◽  
Author(s):  
Elżbieta Czarny ◽  
Paweł Folfas
Keyword(s):  
World Trade ◽  
World Economy ◽  
Dominant Role ◽  
The United States ◽  
The European Union ◽  
Regional Trade ◽  
The World ◽  
Trade And Investment ◽  
The U.S ◽  
The Eu

We analyse potential consequences of the forthcoming Trade and Investment Partnership between the European Union and the United States (TTIP) for trade orientation of both partners. We do it so with along with the short analysis of the characteristics of the third wave of regionalism and the TTIP position in this process as well as the dominant role of the EU and the U.S. in the world economy – especially – in the world trade. Next, we study trade orientation of the hypothetical region created in result of TTIP. We use regional trade introversion index (RTII) to analyze trade between the EU and the U.S. that has taken place until now to get familiar with the potential changes caused by liberalization of trade between both partners. We analyze RTII for mutual trade of the EU and the U.S. Then, we apply disaggregated data to analyze and compare selected partial RTII (e.g. for trade in final and intermediate goods as well as goods produced in the main sectors of economy like agriculture or manufacturing). The analysis of the TTIP region’s orientation of trade based on the historical data from the period 1999-2012 revealed several conclusions. Nowadays, the trade between the EU and the U.S. is constrained by the protection applied by both partners. Trade liberalization constituting one necessary part of TTIP will surely help to intensify this trade. The factor of special concern is trade of agricultural products which is most constrained and will hardly be fully liberalized even within a framework of TTIP. Simultaneously, both parties are even now trading relatively intensively with intermediaries, which are often less protected than the average of the economy for the sake of development of final goods’ production. The manufactured goods are traded relatively often as well, mainly in consequence of their poor protection after many successful liberalization steps in the framework of GATT/WTO. Consequently, we point out that in many respects the TTIP will be important not only for its participants, but for the whole world economy as well. TTIP appears to be an economic and political project with serious consequences for the world economy and politics.

Adapting to Expectations

2013 ◽  
Author(s):  
Brigitte Granville
Keyword(s):  
Public Debt ◽  
World Economy ◽  
Inflation Targeting ◽  
Academic Research ◽  
Balance Sheet ◽  
Inflation Risk ◽  
The Public ◽  
The World ◽  
Future Value ◽  
Value Of Money

This chapter considers the possible application of academic research to address the dire predicament of balance sheet recession and chronic stagnation characterizing large parts of the world economy since 2007. Contemporary policymakers have striven to stimulate demand despite huge debt overhangs and without undermining confidence in the future value of money or sustainability of the public finances and debt. However, as the analysis in the book has shown, excess public debt is fraught with future inflation risk. It highlights two characteristics underlying the best thinking about inflation: adaptation and remembering. It then addresses the question of how inflation targeting might be usefully applied to the post-2007 problems of recession and stagnation against a background of excessive indebtedness.

Conclusions

1998 ◽  
Author(s):  
W. W. Rostow
Keyword(s):  
United States ◽  
Political Economy ◽  
21St Century ◽  
World Economy ◽  
Industrial Revolution ◽  
The United States ◽  
Population Increase ◽  
The Political ◽  
The World ◽  
The Government

I have tried in this book to summarize where the world economy has come from in the past three centuries and to set out the core of the agenda that lies before us as we face the century ahead. This century, for the first time since the mid-18th century, will come to be dominated by stagnant or falling populations. The conclusions at which I have arrived can usefully be divided in two parts: one relates to what can be called the political economy of the 21st century; the other relates to the links between the problem of the United States playing steadily the role of critical margin on the world scene and moving at home toward a solution to the multiple facets of the urban problem. As for the political economy of the 21st century, the following points relate both to U.S. domestic policy and U.S. policy within the OECD, APEC, OAS, and other relevant international organizations. There is a good chance that the economic rise of China and Asia as well as Latin America, plus the convergence of economic stagnation and population increase in Africa, will raise for a time the relative prices of food and industrial materials, as well as lead to an increase in expen ditures in support of the environment. This should occur in the early part of the next century, If corrective action is taken in the private markets and the political process, these strains on the supply side should diminish with the passage of time, the advance of science and innovation, and the progressively reduced rate of population increase. The government, the universities, the private sector, and the professions might soon place on their common agenda the delicate balance of maintaining full employment with stagnant or falling populations. The existing literature, which largely stems from the 1930s, is quite illuminating but inadequate. And the experience with stagnant or falling population in the the world economy during post-Industrial Revolution times is extremely limited. This is a subject best approached in the United States on a bipartisan basis, abroad as an international problem. It is much too serious to be dealt with, as it is at present, as a domestic political football.

scholarly journals Eu Policy Appraisals and Public Opinion: A Tale of Sophistication and Interdependence?

World Affairs ◽  
2019 ◽  
Vol 182 (1) ◽  
pp. 8-34
Author(s):  
Pierre Philippe Balestrini
Keyword(s):  
European Union ◽  
Public Opinion ◽  
Present Article ◽  
World Economy ◽  
Policy Area ◽  
Eu Policy ◽  
The World ◽  
Income Dispersion ◽  
The Eu

Although the literature about European Union (EU) public opinion is quite extensive, much of it focuses on general indexes of support for the EU or one specific EU policy area. The study of citizens’ appraisal of the EU contribution across socioeconomic policies and its interdependence is uncharted territory. The present article addresses this gap in the research. Using Eurobarometer data, it is demonstrated that national publics tend to be dissatisfied with the EU contribution across policies and that this assessment is consistent and interrelated from one policy to another. Education is found to have only a relatively modest impact on this assessment while the degree of an EU member state’s integration in the world economy is not found to sway the latter. The findings finally show that national levels of unemployment, immigration, income dispersion, and the positioning of party leaderships on social redistribution influence public opinion on EU policy input. In the light of these findings, implications are drawn.

The World Economy

2017 ◽  
Vol 240 ◽  
pp. F3-F3
Keyword(s):  
World Economy ◽  
Output Growth ◽  
Consumer Confidence ◽  
Economic Policies ◽  
Soft Data ◽  
Medium Term ◽  
National Elections ◽  
Advanced Economies ◽  
The World ◽  
The Face

Global output growth is forecast to pick up from 3.1 per cent in 2016 to 3.3 per cent in 2017 and 3.6 per cent in 2018 – a slightly stronger acceleration than expected in February. Projected medium-term growth is still well below pre-crisis rates.A striking feature of the current conjuncture is unusual uncertainty, particularly about the interpretation of recent ‘soft’ data showing increased business and consumer confidence in the advanced economies, US economic policies, and policies in Europe in the face of national elections in the largest economies.There are significant risks to our growth forecast on both the upside and the downside but of particular concern are the downside risks related to the adoption of more populist policies in advanced economies.

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