Financial Crisis 2007 around the World: Status, Outlooks and Major Concerns

2012 ◽  
Author(s):  
Md. Nahidul Islam
Keyword(s):  
Financial Crisis ◽  
The World

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 

AN EMPIRICAL STUDY OF INDIAN INSURANCE INDUSTRY POST GLOBAL FINANCIAL CRISIS

2015 ◽  
Vol 6 (01-02) ◽  
Author(s):  
Anis Ur Rehman ◽  
Yasir Arafat Elahi ◽  
Sushma .
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Insurance Industry ◽  
Primary Data ◽  
Policy Recommendations ◽  
Insurance Sector ◽  
The World ◽  
The Impact ◽  
The New Deal

India has recently emerged as a major political and economic power in the world. The financial crisis that engulfed the world in 2008 needed developing countries like India to lead the rescue and recovery, instead of G7 westerns countries who dealt with such crisis in the past. Recently, discussions and negotiations are going amongst G20 countries regarding a new global financial architecture (G-20 Summit, 2008). The outcome will affect the relevant industries in India and hence it is a public interest issue for the actuarial profession in the country. Increased and more intrusive and costly regulations and red tapes are likely to be a part of the new deal (Economic Survey 2009-10). The objective of this paper is to study the perception of higher level authorities in Insurance sector regarding the role of regulator in minimizing the impact of global financial crisis. The primary data has been collected from 200 authorities in insurance industry. The data has been analyzed with statistical tools like MS-Excel. On the basis of the findings, various measures and policy recommendations for insurers have been suggested to minimize the impact of crisis.

Operational Activity of Entrepreneurship in Ukraine in the Light of the Introduction of Quarantine Restrictions: Economic and Legal Analysis

2021 ◽  
Vol 39 (9) ◽  
Author(s):  
Raisa Kvasnytska ◽  
Oksana Melnuk ◽  
Oleksandr Troianskyi ◽  
Viktoriia Hmyria ◽  
Nataliia Maksymenko
Keyword(s):  
Financial Crisis ◽  
Economic Indicators ◽  
Legal Analysis ◽  
The World ◽  
Operational Activity

The research examines the range of impact and consequences of quarantine restrictions on the operational and financial activities of Ukraine in comparison with the economic indicators of GDP of other leading countries. The purpose of the article is to conduct an economic and legal analysis of ways in which governments around the world, including Ukraine, support business in the financial crisis against the background of the global coronary pandemic COVID-19.

Pacific Asia: Economic Integration and Prospects of Russia

2011 ◽  
pp. 67-75
Author(s):  
V. Usol'tsev
Keyword(s):  
Financial Crisis ◽  
Economic Integration ◽  
Asian Financial Crisis ◽  
Asia Pacific ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
World Crisis ◽  
The World ◽  
Pacific Asia

The article describes in detail the integration processes in the Asia-Pacific region, the influence of the Asian financial crisis of 1997-1998 biennium. and the world crisis 2007-2008 biennium, as well as the prospects of the Russian connection.

scholarly journals Changes of China’s agri-food exports to Germany caused by its accession to WTO and the 2008 financial crisis

2015 ◽  
Vol 7 (2) ◽  
pp. 262-279 ◽  
Author(s):  
Zhichao Guo ◽  
Yuanhua Feng ◽  
Thomas Gries
Keyword(s):  
Time Series ◽  
Financial Crisis ◽  
Regression Models ◽  
Structural Breaks ◽  
Global Financial Crisis ◽  
Middle Part ◽  
Change Points ◽  
Content Type ◽  
The World ◽  
Before And After

Purpose – The purpose of this paper is to investigate changes of China’s agri-food exports to Germany caused by China’s accession to WTO and the global financial crisis in a quantitative way. The paper aims to detect structural breaks and compare differences before and after the change points. Design/methodology/approach – The structural breaks detection procedures in this paper can be applied to find out two different types of change points, i.e. in the middle and at the end of one time series. Then time series and regression models are used to compare differences of trade relationship before and after the detected change points. The methods can be employed in any economic series and work well in practice. Findings – The results indicate that structural breaks in 2002 and 2009 are caused by China’s accession to WTO and the financial crisis. Time series and regression models show that the development of China’s exports to Germany in agri-food products has different features in different sub-periods. Before 1999, there is no significant relationship between China’s exports to Germany and Germany’s imports from the world. Between 2002 and 2008 the former depends on the latter very strongly, and China’s exports to Germany developed quickly and stably. It decreased, however suddenly in 2009, caused by the great reduction of Germany’s imports from the world in that year. But China’s market share in Germany still had a small gain. Analysis of two categories in agri-food trade also leads to similar conclusions. Comparing the two events we see rather different patterns even if they both indicate structural breaks in the development of China’s agri-food exports to Germany. Originality/value – This paper partly originally proposes two statistical algorithms for detecting different kinds of structural breaks in the middle part and at the end of a short-time series, respectively.

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.

scholarly journals Academic capitalism and the entrepreneurial university: some perspectives from the Americas

Roteiro ◽  
2018 ◽  
Vol 43 (1) ◽  
pp. 21-42 ◽  
Author(s):  
Patrícia Somers ◽  
Cory Davis ◽  
Jessica Fry ◽  
Lisa Jasinski ◽  
Elida Lee
Keyword(s):  
Higher Education ◽  
Latin America ◽  
Financial Crisis ◽  
Academic Capitalism ◽  
Research Literature ◽  
Faculty Members ◽  
Entrepreneurial University ◽  
Bottom Line ◽  
Business Partners ◽  
The World

Since the Worldwide Financial Crisis of 2008, higher education institutions around the world have been forced to change their financial practices to focus on the bottom line. One such approach is academic capitalism, the heart of which is the entrepreneurial university which views faculty members as producers of capital (not educators), students as consumers (not learners), and business/industry, accreditors, and NGOs as valued business partners. This article defines academic capitalism, reviews the research literature, presents perspectives of academic capitalism in the Americas and discusses the implications of academic capitalism for Latin America. The article ends using anthropophagi to assess what is useful about academic capitalism for Brazil.

scholarly journals Colonial Past and Constitutional Momentum: The Case of Iceland

2013 ◽  
Vol 8 (2) ◽  
Author(s):  
Ágúst Þór Árnason
Keyword(s):  
Financial Crisis ◽  
World Wide ◽  
Economic Life ◽  
The World ◽  
Financial Crisis Of 2008 ◽  
The Republic

In June 2010, nearly two years after the world-wide financial crisis of 2008 hit Iceland, the Icelandic Parliament passed an act on a Constitutional Assembly. Even if no one has succeeded to show any direct connections between the financial crisis and the provisions and the function of the constitution of 1944, loud voices did claim that Icelanders were fortunately faced with a “constitutional moment” and, subsequently, an opportunity to change the nation’s political as well as economic life; something people were ethically obligated to make use of. With no better justified or defined reasons for such an all-inclusive revision, however, it is a worth-while undertaking to take a closer look at the notion of a constitutional moment, and see if that can help us to understand why the Republic of Iceland should abolish its founding constitution without a preceding thorough analysis of its functional failures.

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