The Economic Growth Catalyzers at the European Level,  in the Context of the 2008 Financial Crisis

This paper investigates the causal relationship between economic growth and government debt of six large national economies ten years before and ten years after the 2008 financial crisis. There have been numerous studies on whether government debt has any negative effect on economic growth. The results of most empirical studies are mixed depending on the levels of government debt, the countries included in the sample, the sample periods chosen, and the methodologies employed. This paper focuses on six large national economies, namely, the United States, Japan, Germany, the United Kingdom, France, and Canada during the periods ten years before and ten years after the most recent financial crisis of 2008. It is found that there are significant increases in the level of government debt and decreases in economic growth during the ten years after the financial crisis for all six countries. Our results show that the hypothesis that government debt does not Granger-cause economic growth is rejected for all six countries combined for the pre- financial crisis sub-period and the whole sample period, but not for the post financial crisis sub-period. The hypothesis that economic growth does not Granger-cause government debt is also rejected for both the pre- and post- financial crisis sub-periods as well as for the whole period. In short, our investigation documented a bidirectional Granger causality between government debt and economic growth during periods ten years before, ten years after, and the combined periods before and after the 2008 financial crisis. The evidence also suggests that economic growth reduced government debt for most countries during all three sample periods.

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Financial prudential behavior and economic growth

Contaduría y Administración ◽

10.22201/fca.24488410e.2021.2674 ◽

2020 ◽

Vol 66 (3) ◽

pp. 265

Author(s):

Salvador Rivas Aceves ◽

Griselda Dávila Aragón

Keyword(s):

Economic Growth ◽

Financial Crisis ◽

Financial Markets ◽

Financial Stability ◽

Capital Accumulation ◽

Global Financial Crisis ◽

Real Economy ◽

Growth Promoters ◽

2008 Financial Crisis ◽

The 2008 Financial Crisis

<p>The 2008 global financial crisis showed not only that there is a link between real economy and financial markets, but also that financial stability is necessary for investment, innovation and of course economic growth. Regarding the link between real and financial sectors, several studies long before the 2008 financial crisis revealed positive impacts from financial sector on real economy, basically because a solid financial system promote physic and human capital accumulation, see Banerjee and Newman (1993) Galor and Zeira (1993), Aghion and Bolton (1997), Piketty (1997), Levine (1997), Levine and Zervos (1998), Rajan and Zingales (1998). When considering well-developed financial markets as economic growth promoters the researches of Levine (2005), Aghion et al. (2005) and Acemoglu et al. (2006) proved that financial develop indeed accelerates economic growth.</p>

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Do Crises Hit Female-Managed and Male-Managed Firms Differently? Evidence from the 2008 Financial Crisis

10.1596/34458 ◽

2020 ◽

Author(s):

Tanima Ahmed ◽

Silvia Muzi ◽

Kohei Ueda

Keyword(s):

Financial Crisis ◽

2008 Financial Crisis ◽

The 2008 Financial Crisis

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Mathematics without Apologies

10.23943/princeton/9780691175836.001.0001 ◽

2017 ◽

Cited By ~ 2

Author(s):

Michael Harris

Keyword(s):

Number Theory ◽

Financial Crisis ◽

Pop Culture ◽

First Century ◽

2008 Financial Crisis ◽

Dinner Party ◽

Mathematical Life ◽

Personal Experiences ◽

The 2008 Financial Crisis ◽

Guided Tour

What do pure mathematicians do, and why do they do it? Looking beyond the conventional answers, this book offers an eclectic panorama of the lives and values and hopes and fears of mathematicians in the twenty-first century, assembling material from a startlingly diverse assortment of scholarly, journalistic, and pop culture sources. Drawing on the author's personal experiences as well as the thoughts and opinions of mathematicians from Archimedes and Omar Khayyám to such contemporary giants as Alexander Grothendieck and Robert Langlands, the book reveals the charisma and romance of mathematics as well as its darker side. In this portrait of mathematics as a community united around a set of common intellectual, ethical, and existential challenges, the book touches on a wide variety of questions, such as: Are mathematicians to blame for the 2008 financial crisis? How can we talk about the ideas we were born too soon to understand? And how should you react if you are asked to explain number theory at a dinner party? The book takes readers on an unapologetic guided tour of the mathematical life, from the philosophy and sociology of mathematics to its reflections in film and popular music, with detours through the mathematical and mystical traditions of Russia, India, medieval Islam, the Bronx, and beyond.

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