scholarly journals The Global Economic Crisis and its Effects in Romania

2012 ◽  
Vol 3 (8) ◽  
pp. 286-292
Author(s):  
Alexandru Trifu
Keyword(s):  
Financial Crisis ◽  
Adverse Effects ◽  
Economic Crisis ◽  
Human Activity ◽  
Euro Area ◽  
Social Groups ◽  
European Countries ◽  
Deficit Reduction ◽  
Global Economic Crisis ◽  
The U.S

The crises represent malfunctions that may occur within every domain of the human activity. That is why the causes, their way of emergence and their consequences are studied. The crisis is analyzed by economists considering specific criteria, these offering it the characteristics of a phenomenon with poisonously consequences for the affected organizations, institutions and social groups: inflation, unemployment, stagnation, recession etc. The evolution of the financial crisis will lead economies into a deflationary spiral in the next year or even a longer lasting, as deficit reduction efforts will take large, and probably we shall assist an output of some euro area of weaker states. World economies are hit by this crisis to various extents, depending on the vulnerabilities of each and their exposure to toxic assets. The response to the crisis is contingent upon the fundamental principles we believe in, the available resources, the institutions and the instruments we can make use of. In Romania, the response to the adverse effects of the crisis cannot be similar to that made by some European countries or the U.S. There are several differences between the Romanian economy and these economies, which do not allow copying the package of measures developed there.

scholarly journals Motives for Remittances Change During the Financial Crisis in Bosnia and Herzegovina

Südosteuropa ◽  
2016 ◽  
Vol 64 (1) ◽  
Author(s):  
Nermin Oruč ◽  
Amina Tabakovič
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
Bosnia And Herzegovina ◽  
Empirical Model ◽  
Model Specification ◽  
Crowding Out ◽  
Global Economic Crisis ◽  
Social Transfers

AbstractBosnia and Herzegovina (BiH), a country that relies on a significant amount of remittance inflows, has experienced a drop in these inflows as a consequence of the global economic crisis. This paper aims to analyse whether and how this decrease is related to a change in motives for sending remittances. The change in motives will be analysed by exploring the interaction between social transfers and remittances using two household datasets, from 2007 (before the crisis) and 2011 (during the crisis), respectively. The analysis is based on the estimation of two model specifications, one that controls for the motives’ non-monotonicity and another that does not. Compared to previous studies, this paper estimates the non-monotonic ‘crowding-out’ effect via an innovative empirical model specification. Its findings suggest that the predominant motive for sending remittances to BiH before the crisis was exchange, while during the crisis the senders of remittances were more altruistic. In addition, the results from the model on non-monotonicity of motives support the hypothesis that as a consequence of the economic crisis, transfer motives are changing in ways that are different for poor and non-poor recipients of remittances.

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.

scholarly journals EVOLUÇÕES DO CONSTITUCIONALISMO CONTEMPORÂNEO: A EXPERIÊNCIA DE ELABORAÇÃO DO PROJETO DE CONSTITUIÇÃO ISLANDESA DE 2011

2021 ◽  
Vol 16 (1) ◽  
pp. 324-344
Author(s):  
Milena Petters Melo ◽  
Thiago Burckhart
Keyword(s):  
Financial Crisis ◽  
Political Theory ◽  
Economic Crisis ◽  
Constitutional Law ◽  
Constituent Assembly ◽  
Global Economic Crisis ◽  
Democratic Experience ◽  
Unique Experience ◽  
The Relationship ◽  
Critical Reflections

RESUMOA crise econômica mundial de 2008, que atingiu diretamente a Islândia, impulsionou o aprofundamento da experiência democrática naquele país através da elaboração de um novo projeto de Constituição. Esta experiência contém duas inovações fundamentais: o projeto de Constituição foi escrito mediante crowdsourcing, além da Assembleia Constituinte ter operado em paralelo com a legislatura regular. Tomando isso em consideração, este artigo objetiva analisar descritivamente, partindo da teoria da constituição e da teoria política e utilizando o método dialógico na observação do direito constitucional como uma ciência de textos e contextos, o contexto de elaboração deste projeto, destacando suas peculiaridades, e dimensionando os motivos do seu insucesso de aprovação. Como conclusão são propostas algumas reflexões críticas sobre as potencialidades e os limites da singular experiência islandesa que, contudo, se relacionam com grandes questões que se colocam para o constitucionalismo hodierno, especialmente no que tange à relação entre constitucionalismo e democracia.PALAVRAS-CHAVE: Projeto de Constituição Islandesa de 2011; Constitucionalismo contemporâneo; Crowdsourcing; Democracia; Crise econômica mundial.ABSTRACT The 2008 global economic crisis, which directly hit Iceland, improved the deepening of the democratic experience in that country through the elaboration of a new constitution project. This experience brings up two fundamental innovations: the Constitution project was written through crowdsourcing, and also the Constituent Assembly operated in parallel with the regular legislature. Taking this in consideration, this article aims to analyze descriptively, starting from constitutional and political theory and using the dialogical method in the observation of constitutional law as a science of texts and contexts, the context of elaboration of this project, highlighting its peculiarities, and dimensioning the reasons for its failure of approval. As a conclusion, some critical reflections are proposed on the potential and limits of this unique experience, which, however, are related to major issues that arise for today's constitutionalism, especially regarding to the relationship between constitutionalism and democracy.KEY WORDS: 2011 Iceland’s constitutional project; Contemporary constitutionalism; crowdsourcing; Democracy; World’s financial crisis.

The Reflections of the Recent Global Economic Crisis on the Turkish Tourism Sector

2014 ◽  
pp. 934-944
Author(s):  
Ali Yılmaz ◽  
Semra Gunay Aktaş
Keyword(s):  
Economic Crisis ◽  
Research Area ◽  
European Countries ◽  
International Level ◽  
City Center ◽  
Global Crisis ◽  
Tourism Sector ◽  
The World ◽  
Global Economic Crisis ◽  
The Usa

In this chapter, the reflections of the recent global crisis on the tourism sector have been studied. In the first part of the chapter, the effects of the global crisis on the tourism sector in the world and Turkey are examined. The latter parts of the research constitute of the evaluations regarding the effects of the global crisis on the Fairy Chimneys Area in the Cappadocia Tourism Region, and the hotels, motels, and souvenir shops there. Cappadocia was chosen as the research area since it is an important tourism attraction at both national and international level. Therefore, a survey has been conducted at the work places in Avanos, Urgüp, Göreme, and Nevsehir City Center in Cappadocia Tourism Region. The data obtained through the survey has been analized by SPSS 17 programs. At the end of the research, it was determined that the effects causing concern in the tourism sector started to be seen on the tourism region as well, although the economic crisis started in the USA and the European Countries.

scholarly journals Will the global economic crisis induce seismic geopolitical changes?

2011 ◽  
Vol 63 (2) ◽  
pp. 211-236
Author(s):  
Goran Nikolic ◽  
Predrag Petrovic
Keyword(s):  
World War Ii ◽  
Economic Crisis ◽  
Developed Countries ◽  
World War ◽  
Developed Economies ◽  
Global Power ◽  
Global Economic Crisis ◽  
Relative Attractiveness ◽  
The U.S

The paper begins with an analysis of the causes of strong rebalancing of the world economy at the end of the first decade of the 21st century, which leads to weakening of the relative economic importance of developed countries. Then, the authors analyze whether we are in the process of creating a new multilateral geopolitical stage and how much has become important the role of some groups of countries (BRIC and G20). The authors analyze the changes in the global financial architecture defined after World War II under the predominant US influence. In the next two sections the authors first discus how the global crisis will affect the geopolitical constellation and second, they present some estimates that the U.S. dominance, with some dispersion of its global power, could be retained. The authors have concluded that not any of constant geopolitical elements in the leading world countries has substantially changed since 2007, although the economic supremacy of developed economies has significantly decreased in comparison with developing countries and China, in particular. The U.S. leadership is not just a result of its economic and military superiority, but it also results from the relative attractiveness of its ideas and values. So, it is hard to believe that a strong geopolitical reconfiguration could be caused by the global economic crisis, especially in the medium term.

scholarly journals Dollars, Arms, Words: Barack Obama and the Dilemmas of American Hegemony

2019 ◽  
pp. 24-40
Author(s):  
Mario Del Pero
Keyword(s):  
United States ◽  
Foreign Policy ◽  
Economic Crisis ◽  
The United States ◽  
Barack Obama ◽  
Global Economic Crisis ◽  
Foreign Policies ◽  
American Hegemony ◽  
To Come ◽  
The U.S

This article discusses the foreign policy of Barack Obama and the basic elements and contours of what can be described as a putative “Obama Doctrine”. It argues that, while never precisely stated and outlined, this doctrine constituted an attempt to come to terms with the final manifestation of some ingrained and, after the 2008 global economic crisis, inescapable contradictions and flaws of the model of hegemony the United States had built and projected since the 1970s. To address this novel situation, and the multiple arcs of crisis the U.S. was facing, a radical strategic, diplomatic and discursive shift was needed. Cognisant of it, Obama pursued this change, although not always consistently or successfully, achieving results that appear all the more remarkable when compared with the foreign policies of his predecessor and, after almost two years in office, his successor.

scholarly journals The Impacts of Global Financial Crisis on Construction Sector in Turkey

2014 ◽  
Author(s):  
Fatih Kürşat Fırat ◽  
Esra Soyu
Keyword(s):  
Financial Crisis ◽  
Construction Industry ◽  
Economic Crisis ◽  
Global Financial Crisis ◽  
Gdp Growth ◽  
Construction Sector ◽  
Global Crisis ◽  
Mortgage Crisis ◽  
The World ◽  
Global Economic Crisis

The global crisis in United States began as the form of the mortgage crisis in the housing market. Profound effects the financial crisis emerged in 2008 spread rapidly throughout the world as a result of globalization and also its effects were felt in our country. Both in earlier crises and the emergence and spread of the global economic crisis in the cyclical indicators are known to play an important role. There are different opinions on this subject in the literature. It is seen that there is a relation between the global crisis in the financial sectors and the construction sector based on mostly housing industry. Especially in the developing countries like Turkey, the construction sector, which is an important contribution to the economic growth, is seen negatively affected by the global crisis. The aim of this study is to analyze the variations occurred in the construction industry during the 2008 global economic crisis and is to introduce how the construction sector is affected by the crisis. Here, Turkey's main economic indicators during the crisis are examined considering the construction sector and GDP growth rates. As a result of this study, it is put forward that the construction sector in Turkey is one of the sectors most affected by the global crisis.

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