scholarly journals An analysis of the recent Eurozone recovery: is it sustainable?

2017 ◽  
Vol 6 (3) ◽  
pp. 29-36 ◽  
Author(s):  
Ivo Pezzuto
Keyword(s):  
Global Financial Crisis ◽  
Economic Recovery ◽  
The European Union ◽  
Debt Overhang ◽  
The Great Recession ◽  
Macroeconomic Imbalances ◽  
To Come ◽  
The Global Financial Crisis ◽  
Brighter Future ◽  
Political Economic

This article addresses the topic of the surprise European Economy recovery in 2017 and its possible implications. The article aims to provide a broad and comprehensive understanding of the triggering factors that have contributed to this unexpected economic revival and to the slow and uneven economic recovery in Europe after the Global Financial Crisis of 2008 and the Great Recession. The article also aims to highlight the potential downside risks related to the still unsolved structural issues that caused the debt overhang and macroeconomic imbalances in Europe in the past decade. Thus, the European Union and the Eurozone seem to be on course for a potential brighter future in the years to come but internal and external risks might still undermine the path to sustained growth, full economic recovery, and stronger integration in the region unless proper political, economic, fiscal, and monetary governance and policies are assured to make the euro area more resilient to future systemic shocks.

scholarly journals Rynek pracy województwa dolnośląskiego w okresie spowolnienia gospodarczego

2011 ◽  
Vol 18 ◽  
pp. 37-50
Author(s):  
Paweł Brezdeń ◽  
Waldemar Spallek
Keyword(s):  
Labor Market ◽  
Great Recession ◽  
Global Financial Crisis ◽  
The European Union ◽  
The Great Recession ◽  
Regional Labor Market ◽  
Regional Labor ◽  
Economic Slowdown ◽  
The Global Financial Crisis ◽  
The Impact

The article focuses on processes of the regional labor market during the economic slowdown that resulted from the global financial crisis in years 2007–2009, which is also called the Great Recession. The labor market’s situation is the result of the interaction of many complex processes. On the one hand, it is a derivative of the level of development and structure of the economy; on the other hand, the shape of the labor market is influenced by the changes associated with an ever-increasing integration of Poland with the European Union. In recent years, global economic processes, especially connected with the Great Recession, also play a significant role in shaping the situation of regional labor markets. The article presents the trends of development of the labor market in the region in years 2000–2009 in the field of economic activity and employment rates taking into consideration the selected demographic and economic categories of the population. The particular attention is devoted to the issues of development of unemployment and its typology. These elements of the labor market were presented in the local systems of the region with an indication of their spatial variation and intensity.On the basis of identified regularity of development of the studied phenomenon, the authors made an attempt to identify and evaluate the impact of the economic slowdown on the regional labor market at the local and regional level.

6. Origins of the global financial crisis

2016 ◽  
pp. 86-100
Author(s):  
John Goddard ◽  
John O. S. Wilson
Keyword(s):  
Financial Crisis ◽  
Federal Reserve ◽  
Global Financial Crisis ◽  
Central Banks ◽  
Asian Financial Crisis ◽  
Savings And Loans ◽  
Macroeconomic Imbalances ◽  
The Us ◽  
To Come ◽  
The Global Financial Crisis

The 2007–09 global financial crisis is widely considered to have been the most severe crisis since the 1930s Great Depression. During the two decades prior to the global financial crisis, localized banking or financial crises occurred in many different countries that contained warnings of the upheaval that was to come. ‘Origins of the global financial crisis’ describes some of these: the Japanese and Swedish banking crises beginning in 1990 and 1991 respectively, the US Savings and Loans crisis, and the Asian financial crisis. It then considers the causes of the 2007–09 crisis, including global macroeconomic imbalances and policy mistakes committed by the Federal Reserve and the central banks of other deficit countries.

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.

The IMF and the Politics of Austerity in the Wake of the Global Financial Crisis

2018 ◽  
Author(s):  
Ben Clift
Keyword(s):  
Global Financial Crisis ◽  
Full Employment ◽  
Real Economy ◽  
Economic Stability ◽  
Public Power ◽  
The Great Recession ◽  
Regulatory Interventions ◽  
The Stability ◽  
The Global Financial Crisis ◽  
The Imf

The IMF uses crisis-defining economic ideas, and crisis legacy-defining ideas, to construct interpretations of economic crises in ways which prioritize particular policy or institutional responses, and rule out or marginalize others. The post-crash IMF enjoyed scope to shift the boundaries of ‘legitimate’ policy, involving heightened appreciation of ‘non-linear’ threats from losses of confidence, prolonged weak demand, and financial system fragilities and contagion. The policy corollaries of this Fund rethink were that economic stability has to be actively pursued through a wider range of policy and regulatory interventions by governments, central banks, the IMF, and other forms of authority and public power. In the context of the Great Recession, the Fund no longer considered it safe to assume an inherent tendency on the part of unfettered market forces in finance and the real economy to deliver the stability and full employment at the heart of its mandate.

scholarly journals Foreign Capital in Poland During Recession

2015 ◽  
Vol 16 (2) ◽  
pp. 45-59
Author(s):  
Mirosław Wypych
Keyword(s):  
Foreign Capital ◽  
Global Financial Crisis ◽  
Economic Downturn ◽  
The European Union ◽  
System Transformation ◽  
Foreign Investors ◽  
Scientific Hypothesis ◽  
National Bank ◽  
The Global Financial Crisis ◽  
Parent Companies

AbstractThe system transformation which started in the last decade of the previous century and the accompanying transition into market oriented economy have contributed to the increase of foreign investors’ interest in committing their capital in Poland. The interest grew even more after Poland joined the European Union. With limited national financial resources and great demand for the same, foreign investment has been a desirable factor supporting and accelerating economic growth.The objective of this paper is to evaluate the changes in the level and structure of foreign capital in Poland in the years 2008–2013, that is during the period of economic downturn following the global financial crisis. The point is, first of all, to find an answer to the following question: to what extent has the economic destabilisation caused by the crisis influenced the decisions of foreign investors concerning investing their capital in Poland? This allows to verify the following scientific hypothesis: during crisis stability of the financial system of the country in which parent companies have their seats is more important for foreign investors than financial security of the host country. The analysis covers total foreign capital, that is both direct and portfolio investment, as well as derivatives and credit facilities. The empirical part of the study has been based on the information published by the National Bank of Poland.

scholarly journals Electoral Shocks

2019 ◽  
Author(s):  
Edward Fieldhouse ◽  
Jane Green ◽  
Geoffrey Evans ◽  
Jonathan Mellon ◽  
Christopher Prosser ◽  
...  
Keyword(s):  
Global Financial Crisis ◽  
The European Union ◽  
Electoral Volatility ◽  
Liberal Democrats ◽  
Scottish National Party ◽  
Electoral Choice ◽  
General Elections ◽  
Scottish Independence ◽  
The Global Financial Crisis ◽  
The Uk

This book offers a novel perspective on British elections, focusing on the importance of increasing electoral volatility in British elections, and the role of electoral shocks in the context of increasing volatility. It demonstrates how shocks have contributed to the level of electoral volatility, and also which parties have benefited from the ensuing volatility. It follows in the tradition of British Election Study books, providing a comprehensive account of specific election outcomes—the General Elections of 2015 and 2017—and a more general approach to understanding electoral change.We examine five electoral shocks that affected the elections of 2015 and 2017: the rise in EU immigration after 2004, particularly from Eastern Europe; the Global Financial Crisis prior to 2010; the coalition government of the Conservatives and the Liberal Democrats between 2010 and 2015; the Scottish Independence Referendum in 2014; and the European Union Referendum in 2016.Our focus on electoral shocks offers an overarching explanation for the volatility in British elections, alongside the long-term trends that have led us to this point. It offers a way to understand the rise and fall of the UK Independence Party (UKIP), Labour’s disappointing 2015 performance and its later unexpected gains, the collapse in support for the Liberal Democrats, the dramatic gains of the Scottish National Party (SNP) in 2015, and the continuing period of tumultuous politics that has followed the EU Referendum and the General Election of 2017. It provides a new way of understanding electoral choice in Britain, and beyond, and a better understanding of the outcomes of recent elections.

scholarly journals Problems and Prospects for the Development of the UK Banking System in the Process of New Industrialization and Digitalization

2021 ◽  
Vol 93 ◽  
pp. 05017
Author(s):  
Olga Sokolova ◽  
Nadezhda Goncharova ◽  
Pavel Letov
Keyword(s):  
Capital Market ◽  
Global Financial Crisis ◽  
Banking System ◽  
The European Union ◽  
Important Trend ◽  
The Subject ◽  
The Global Financial Crisis ◽  
The Uk ◽  
High Degree ◽  
New Industrialization

The gist of this article boils down to the development of British banking system in the conditions of new industrialization and digitalization. The banking system of Great Britain is characterized by a high degree of concentration and specialization of banking, a well-developed banking infrastructure, and a close connection with the international loan capital market. London is the world's oldest financial center. The English banking system has the world's widest network of overseas branches. The UK banking system is relatively independent from the credit systems of the European Union. Nevertheless, banking legislation is focused on the unification of banking law within the European Community and supervision of banking activities. In the context of the global financial crisis, the UK banking system, as in other countries, has been severely tested. The most important trend in the development of the UK banking system is the blurring of boundaries between certain types of credit institutions. The subject of the research is the UK banking system in the context of new industrialization and digitalization.

The Problem in Detail

2019 ◽  
pp. 35-93
Author(s):  
Thomas Kalinowski
Keyword(s):  
Financial Regulation ◽  
Global Financial Crisis ◽  
Historical Overview ◽  
International Conflicts ◽  
International Regulation ◽  
Macroeconomic Coordination ◽  
Currency Competition ◽  
The Global Financial Crisis ◽  
Political Economic

This chapter sets the stage for the empirical investigation of the domestic political economic sources of international conflicts and cooperation. It consists of four parts. First, it gives a general brief historical overview over the problems of the international regulation of finance since nineteenth-century imperialism until the global financial crisis that started in 2008. Second, it introduces the G20 as the main forum for global economic cooperation. Third, it offers an overview of the different reactions to the global economic crisis since 2008. Fourth, it introduces the major conflicts in the G20 about the international regulation of finance in the three crucial areas identified in Chapter 1: global imbalances and macroeconomic coordination, financial globalization and financial regulation, as well as currency competition and management.

The Great Recession and Electoral Politics, 2007–2016

2020 ◽  
pp. 32-62
Author(s):  
Timothy Hellwig ◽  
Yesola Kweon ◽  
Jack Vowles
Keyword(s):  
Great Recession ◽  
Global Financial Crisis ◽  
Cross Sectional ◽  
National Elections ◽  
Individual Level ◽  
The Great Recession ◽  
Political Outcomes ◽  
The Global Financial Crisis ◽  
The Comparative Study ◽  
The Impact

This chapter reviews the political and economic context of the global financial crisis (GFC). We first examine the origins and immediate effects of the GFC and the ‘Great Recession’ that it spawned. Ranging beyond the European focus of the research so far, we examine the impact of the crisis across the member countries of the OECD and the ways in which that variation is shaping the contexts of individual-level behaviour. We then examine patterns of electoral volatility and the changing nature of party systems before turning to consider the reasons why some governments were defeated and why others survived. Across these outcomes, analyses show that the impact of economic factors on political outcomes varied depending on their timing: before, during, or after the GFC. The chapter concludes by introducing our main sources of data: cross-sectional individual-level survey data from twenty-five national elections in OECD democracies from 2011 to 2016 sourced from Module 4 of the Comparative Study of Electoral Systems (CSES); macro-data for thirty-five OECD democracies from 1990 to 2016; and a pooled set of 113 post-election surveys from twenty-four OECD countries between 1996 and 2017.

scholarly journals Ownership Concentration and Performance Recovery Patterns in the European Union

2019 ◽  
Vol 11 (4) ◽  
pp. 953 ◽  
Author(s):  
Alexandra Horobet ◽  
Lucian Belascu ◽  
Ștefania Curea ◽  
Alma Pentescu
Keyword(s):  
European Union ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Corporate Performance ◽  
Manufacturing Sector ◽  
Ownership Concentration ◽  
The European Union ◽  
And Performance ◽  
The Global Financial Crisis

Our study addresses the link between ownership concentration and corporate performance in the manufacturing sector in the European Union in an economic environment stressed by the global financial and sovereign debt crises. This is, to our knowledge, the first attempt to tackle differences between companies with different origin-countries in EU from the perspective of ownership concentration and corporate performance in a period marked by the adverse impact of the global financial crisis. Ownership concentration is measured by the number of shareholders and the percentage of their individual and collective holdings, while performance is measured by accounting-based and market-based indicators. Our results, based on a detailed and methodical statistical analysis, show a clear division between Western and Eastern companies in terms of ownership concentration and performance, with an impact on businesses’ recovery patterns. Overall, there is a positive link between ownership concentration and corporate performance in the case of Western companies, but not for Eastern-based companies. Moreover, ownership concentration has supported business recovery in EU, but particularly for Western companies. On the other hand, our results suggest that market investors’ assessment of corporate performance is disconnected from business fundamentals and do not acknowledge the role of ownership concentration (either beneficial of detrimental) for performance assessment.

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