scholarly journals Last tango in the Euro Area: Cracks in foundations of the Euro construct

Sociologija ◽  
2013 ◽  
Vol 55 (1) ◽  
pp. 1-24
Author(s):  
Ognjen Radonjic ◽  
Miodrag Zec
Keyword(s):  
Euro Area ◽  
Sovereign Debt ◽  
World Economy ◽  
Banking System ◽  
The Other ◽  
European Countries ◽  
Economic Stability ◽  
Central European ◽  
The World ◽  
European Economies

The crisis of sovereign debt and banking system in the Euro Area seriously endanger not only economic stability of the Old continent, but also of the world economy as a whole. In this study, we identify causes of the crisis and point towards plausible solutions aiming at a provisional overcoming of the recession. If, on the other hand, central European countries continue to insist on further implementation of deflationary oriented economic measures in peripheral European economies the break-up of the Euro Area is likely. Final, potentially devastating consequences of this possible grim event are at this moment very hard to predict.

scholarly journals EU competitiveness in a changing world economy

2020 ◽  
Author(s):  
Katalin Botos
Keyword(s):  
Euro Area ◽  
World Economy ◽  
Banking Sector ◽  
Banking System ◽  
Economic Conditions ◽  
Economic Power ◽  
Banking Supervision ◽  
Advanced Economies ◽  
The World ◽  
Sustainability Challenges

The region as a whole is lagging behind the recovery of others in the world. The future shows a shift in global economic power, away from the established advanced economies, especially from those in Europe, towards emerging ones in Asia and elsewhere. Compared to earlier years, risks related to euro area economic conditions have increased. This influences the function and effectiveness of the banking sector as well. The global outlook has deteriorated. The top three prominent risks expected to affect the euro area banking system over the next years are: (1) economic, political, and debt sustainability challenges in the euro area, (2) business model sustainability, and (3) cybercrime and IT deficiencies. The study discusses these factors with special emphasis on banking supervision. It analyses EU bank regulation after the financial crisis and its prospects.

European Economies Stability Faced With Potential Outburst of Sovereign Debt Crisis. An Empirical Study Using Neural Network

2013 ◽  
Vol 12 (2) ◽  
pp. 3255-3260
Author(s):  
Stelian Stancu ◽  
Alexandra Maria Constantin
Keyword(s):  
Neural Network ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Banking System ◽  
Sovereign Debt Crisis ◽  
European Level ◽  
Continuous Growth ◽  
Economic Context ◽  
European Economies ◽  
The Impact

Instilment, on a European level, of a state incompatible with the state of stability on a macroeconomic level and in the financial-banking system lead to continuous growth of vulnerability of European economies, situated at the verge of an outburst of sovereign debt crises. In this context, the current papers main objective is to produce a study regarding the vulnerability of European economies faced with potential outburst of sovereign debt crisis, which implies quantitative analysis of the impact of sovereign debt on the sensitivity of the European Unions economies. The paper also entails the following specific objectives: completing an introduction in the current European economic context, conceptualization of the notion of “sovereign debt crisis, presenting the methodology and obtained empirical results, as well as exposition of the conclusions.

A Long Stagnation, or Capitalism without Growth

2018 ◽  
Author(s):  
Louçã Francisco ◽  
Ash Michael
Keyword(s):  
Great Recession ◽  
World Economy ◽  
Economic Stability ◽  
Secular Stagnation ◽  
The Great Recession ◽  
The Past ◽  
The World ◽  
History Of ◽  
Growth Prospects

Chapter 11 assesses the growth prospects of the world economy. The history of global economic doomsaying is traced briefly, a frequently reasonable position that has not done well with the facts for the past hundred years. Capitalism has been adept at escaping from the pit and pendulum. A set of global imbalances is then reviewed that are seen as posing a severe threat to global economic stability and certainly to the prospects for sustainable and equitable growth. The Great Recession following the Crash of 2007–8 might be “different this time.” Historical and contemporary fears of “secular stagnation” are discussed but the speculative nature of stagnationist assessments is acknowledged.

POVERTY TRAPS AND INFERIOR GOODS IN A DYNAMIC HECKSCHER–OHLIN MODEL

2012 ◽  
Vol 17 (6) ◽  
pp. 1227-1251 ◽  
Author(s):  
Eric W. Bond ◽  
Kazumichi Iwasa ◽  
Kazuo Nishimura
Keyword(s):  
Economic Theory ◽  
Steady State ◽  
World Economy ◽  
Steady States ◽  
The Other ◽  
Poverty Traps ◽  
Poverty Trap ◽  
Multiple Steady States ◽  
The World ◽  
State Capital

We extend the dynamic Heckscher–Ohlin model in Bond et al. [Economic Theory(48, 171–204, 2011)] and show that if the labor-intensive good is inferior, then there may exist multiple steady states in autarky and poverty traps can arise. Poverty traps for the world economy, in the form of Pareto-dominated steady states, are also shown to exist. We show that the opening of trade can have the effect of pulling the initially poorer country out of a poverty trap, with both countries having steady state capital stocks exceeding the autarky level. However, trade can also pull an initially richer country into a poverty trap. These possibilities are a sharp contrast with dynamic Heckscher–Ohlin models with normality in consumption, where the country with the larger (smaller) capital stock than the other will reach a steady state where the level of welfare is higher (lower) than in the autarkic steady state.

The World Economy

2003 ◽  
Vol 185 ◽  
pp. 9-16
Keyword(s):  
Latin American ◽  
Euro Area ◽  
World Trade ◽  
World Economy ◽  
Oil Industry ◽  
Private Sector Investment ◽  
Percentage Points ◽  
The Us ◽  
The World ◽  
Dollar Depreciation

The outlook for world growth this year has deteriorated since April, due to a sharp contraction in world trade in the first quarter of the year and failure to sustain the revival in private sector investment seen in the fourth quarter of 2002. We have as a consequence revised our projections for world growth this year down by ¼ percentage point. This reflects sharp downward revisions of ½–¾ percentage points in the Euro Area and Canada, both of whose exchange rates have continued to appreciate in effective terms, while the outlook for the US and Japan is broadly unchanged. Growth in Japan and the Euro Area stagnated in the first half of 2003, with recessions in Germany, Italy, the Netherlands and Austria appearing likely. The US and Canada, on the other hand, continued to expand, albeit more slowly than in the second half of 2002. Following two years of exceptional weakness, Latin American growth has started to revive, although Venezuela is still suffering from the 2 month stoppage in the oil industry earlier this year and Argentina has lost competitiveness due to a strong appreciation against the dollar. Growth has slowed in several Asian economies, notably South Korea, but China continues to expand rapidly, spurred by the competitiveness impact of the dollar depreciation and infrastructure preparations for the 2008 Olympics. This has helped sustain export growth from the rest of Asia despite the more widespread slowdown in world trade.

The Most-Favored-Nation Policy in Relation to Trade Agreements

1939 ◽  
Vol 33 (3) ◽  
pp. 411-423
Author(s):  
Francis B. Sayre
Keyword(s):  
Trade Agreements ◽  
The United States ◽  
The Other ◽  
Trade Barriers ◽  
Most Favored Nation ◽  
Economic Stability ◽  
Foreign Markets ◽  
The World ◽  
Political Advantage ◽  
The One

The virulent disease which has been attacking and crippling international trade, particularly since 1929, has manifested itself in two different forms. The one is mounting trade barriers, which tend to fence off nation from nation and thus effectively to check the flow of world trade. The other is the practice of discrimination, which nations are using in increasing degree to force markets out of the hands of their competitors or to gain political advantage of one kind or another. If economic stability is to be won and the peace of the world to be made secure, it is just as necessary to overcome the one as the other.The Trade Agreements Act was passed by Congress for the purpose “of expanding foreign markets for the products of the United States.” It is clear that the accomplishment of this purpose necessitates a program with a two-fold objective. The program must seek, first, the reduction or elimination of excessive trade barriers; and second, the elimination of trade discriminations.

scholarly journals Impact of Covid-19 on Business Industry and Management: Pandemic Challenges and Responses

2021 ◽  
Vol 9 (2) ◽  
Keyword(s):  
Problem Solving ◽  
Impact Assessment ◽  
Business Process ◽  
World Economy ◽  
Business Management ◽  
The Other ◽  
Problem Structure ◽  
Global Business ◽  
The World ◽  
The One

Covid-19 pandemic has created unprecedented interruption for the global business industry management. The world economy already facing a turbulent phase experienced the worst scenario in the view of this pandemic. Business management strategists and policymakers have been making an impact assessment to understand the problem structure of this worst possible pandemic situation. The present article tries to develop a viewpoint on Covid-19 impact on business industries and management. Further authors attempt to develop a problem-solving structure by discussing the best possible solutions to mitigate the fact on the one hand and facilitating the business process in various sectors such as business Industry, Marketing, finance, and health industries on the other.

Chapter II. The World Economy

1974 ◽  
Vol 70 ◽  
pp. 23-37
Keyword(s):  
United States ◽  
World Economy ◽  
Developed Countries ◽  
The United States ◽  
Oecd Countries ◽  
The Other ◽  
Industrial Countries ◽  
The World ◽  
World Economic ◽  
Economic Position

The world economic position and prospects have worsened further in the last three months. In the United States and Japan, in particular, recessionary conditions are proving to be more marked and more prolonged than we had expected, and it looks as though by the end of the year all the major industrial countries, with the possible exception of France, will have experienced at least one quarter in which output has fallen or at best shown no appreciable rise. The other developed countries have fared better, but we no longer expect there to be any growth of output in the OECD area either in the second half of the year or in the year as a whole. In 1975 the position should be rather better, at least by the second half. We expect OECD countries' aggregate GNP to grow by about 2 per cent year-on-year and nearly 3 per cent between the fourth quarters of 1974 and 1975.

Linnaeus, Carl von (1707–78)

2018 ◽  
Author(s):  
P.F. Stevens
Keyword(s):  
Classification System ◽  
Natural System ◽  
The Other ◽  
European Countries ◽  
Ecological Interactions ◽  
Wide Range ◽  
Divine Retribution ◽  
The World ◽  
Artificial Classification

Linnaeus was educated in Sweden, and became a doctor of medicine in Harderwijk, Holland, in 1735. He visited other European countries then, but he never left Sweden after his return in 1738. After practising as a physician in Stockholm, he moved to Uppsala University as professor of medicine and botany in 1741. He articulated four different but complementary ways of understanding nature – through two kinds of classification, and through what can be called developmental and functional/ecological interactions. Linnaeus is best known for his classificatory work, for which he received material from all over the world. His classificatory precepts are elaborated in the Philosophia botanica of 1751, an enlarged version of the 365 aphorisms of his Fundamenta botanica of 1735; the other aspects of his work are diffused through his writings. His artificial classification system, initially very popular, was replaced by the ’natural’ system, more slowly in botany than in zoology, and more slowly in England than in some other countries. Current biological nomenclature is based on his Species plantarum, edition 1 (for plants), and Systema naturae, edition 10 (for animals). His codification of botanical terms remains influential. Almost 200 dissertations, most written by Linnaeus, were defended by his students. In these and other less well-known works, including the unpublished Nemesis divina (Stories of Divine Retribution), he covered a wide range of subjects. Quinarian thinking is noticeable in Linnaeus’ work – there are five ranks in systems, five years’ growth in flowers – and in some of the occult works that he knew. He also shows a strong combinatorial bent and a tendency to draw close analogies between the parts of animals and plants.

At a Glance… The World Economy

2014 ◽  
Vol 229 ◽  
pp. F2-F2
Keyword(s):  
Monetary Policy ◽  
Financial Markets ◽  
Euro Area ◽  
World Economy ◽  
Financial System ◽  
List Type ◽  
Real Activity ◽  
The World

Following growth of 3.1 per cent in 2013, the world economy will grow by 3.5 per cent in 2014 and 3.7 per cent in 2015.The pace of recovery remains slow and uneven; much of the Euro Area in particular remains very depressed.Key risks include deflationary pressures in the Euro area; the Chinese financial system; and the conflicting pressures on monetary policy from very buoyant financial markets and relatively weak real activity.

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