Ten years after the global crisis: Risks and prospects

2019 ◽  
pp. 37-53 ◽  
Author(s):  
M. V. Ershov
Keyword(s):  
Economic Development ◽  
Financial Crisis ◽  
World Economy ◽  
Global Financial Crisis ◽  
Global Crisis ◽  
The World ◽  
The Global Financial Crisis

The article analyzes the situation in the world and in Russia 10 years after the global financial crisis. It is shown that with the observed growth of the world economy, global risks, on the contrary, have not diminished, but increased, which creates the threat of new failures. The measures that can be taken by Russian regulators to neutralize external risks and stimulate the economic development of the country are considered.

THE WORLD ECONOMY: The global financial crisis and collapse in world trade

2009 ◽  
Vol 208 (1) ◽  
pp. 9-16
Author(s):  
Dawn Holland ◽  
Ray Barrell ◽  
Tatiana Fic ◽  
Ian Hurst ◽  
Iana Liadze ◽  
...  
Keyword(s):  
Financial Crisis ◽  
World Trade ◽  
World Economy ◽  
Global Financial Crisis ◽  
The World ◽  
The Global Financial Crisis

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 

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.

The Global Financial Networks

2018 ◽  
Author(s):  
Dariusz Wójcik
Keyword(s):  
Public Finance ◽  
Financial Crisis ◽  
World Economy ◽  
Global Financial Crisis ◽  
Global Network ◽  
Financial Networks ◽  
Business Services ◽  
Dynamic Framework ◽  
The Core ◽  
The World

The chapter outlines the concept of the global financial networks, defined as networks of the financial and business services firms, and their activities linking financial centres, offshore jurisdictions, and the rest of the world. It is a concept that helps to map finance, place it on the map of the world economy, and analyse the latter in a dynamic framework accounting for the forces of globalization and financialization. At the core of the global financial networks lies the global network of securities centres, focused on the creation, distribution, and circulation of securities, which contributed to the recent global financial crisis. Major trends reshaping the global financial networks include the rise of regulation and public finance, technologies connecting investors, borrowers and lenders with each other, and a potential geo-financial shift towards Asia.

After The Global Crisis, Is It Globalization or Globalonelization?

2015 ◽  
pp. 287-307
Author(s):  
Ayfer Gedikli ◽  
Seyfettin Erdoğan ◽  
Durmuş Çağrı Yıldırım
Keyword(s):  
Emerging Economies ◽  
Financial Crises ◽  
Local Governments ◽  
World Wide ◽  
Global Financial Crisis ◽  
Economic Consequences ◽  
Global Crisis ◽  
The World ◽  
The Global Financial Crisis

Since the rise of globalization which has abolished the role of nation-state gradually, the world has been increasingly dealing with world-wide pandemics and multi-regional financial crises. The nature of the Global Financial Crisis has made it clear that financially integrated and globalized markets which are poorly regulated with lax supervision, can pose significant risks, with disastrous economic consequences. Did global unfairness and loose monetary policy or lack of common fiscal policy deepen the crisis? Is globalization responsible from the loss of power of local governments on their economies? Finally, can “deglobalization” be an alternative solution for the emerging economies? The answers of these questions are even more crucial after the “FED tapering”. In this context, this chapter discusses the future of financial globalization with respect to its effects on the emerging economies during the global crisis.

Assessing The Impact Of The Global Financial Crisis On GCC Countries

2010 ◽  
Vol 8 (2) ◽  
Author(s):  
Hisham H. Abdelbaki
Keyword(s):  
Financial Crisis ◽  
Interest Rates ◽  
Global Financial Crisis ◽  
The United States ◽  
Font Size ◽  
Negative Effects ◽  
Gcc Countries ◽  
The World ◽  
The Global Financial Crisis ◽  
The Impact

<p class="MsoNormal" style="text-align: justify; margin: 0in 27pt 0pt;"><span style="font-family: Times New Roman;"><span style="color: #0d0d0d; font-size: 10pt; mso-bidi-language: AR-EG;">No doubt, the </span><span style="color: #0d0d0d; font-size: 10pt;">international financial crisis that started in the United States of America will cast its effects on all countries of the world, developed and developing. Yet these effects vary from one country to another for several reasons. The GCC countries would not escape these negative effects of this severe crisis. The negative effects of the crisis on gulf countries come from many aspects: first, decrease in price of oil on whose revenues the development programs in these countries depend; second, decrease in the value of US$ and the subsequent decrease in the assets owned by these countries in US$; third, a case of economic stagnation will prevail in the world with effects starting to appear. </span><span style="color: #0d0d0d; font-size: 10pt; mso-bidi-language: AR-EG;">It is obvious that this would be reflected on the real sector in the economies causing a series of negative effects through decrease of the world demand for exports of GCC countries of oil, petrochemicals and aluminum.<span style="mso-spacerun: yes;">&nbsp; </span>Lastly, increased inflation rates with decreased interest rates will result in a decrease in real interest with an accompanying decrease in incentives for saving and consequently investment and economic development. The main aim of the research is to assess the economic effects of the global financial crisis on GCC countries. The paper results are that the big reserves of foreign currencies achieved by the GCC countries in the past few years have helped increase their ability to bear the effects of the financial effects on one hand and their ability to adopt expansionary policies through pumping liquidity to absorb the regressive effects of the crisis on the other. The paper recommends the necessity of taking precautionary procedures for the effects which will result from the expansionary policies effective in GCC countries. <strong></strong></span></span></p>

scholarly journals The Effects of the Global Financial Crisis on China's Financial Market and Macroeconomy

2012 ◽  
Vol 2012 ◽  
pp. 1-6 ◽  
Author(s):  
Linyue Li ◽  
Thomas D. Willett ◽  
Nan Zhang
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
World Economy ◽  
Global Financial Crisis ◽  
High Growth ◽  
Spillover Effects ◽  
The United States ◽  
Global Recession ◽  
Order Of Magnitude ◽  
The Global Financial Crisis

This paper provides a brief review of the increasing importance of China in the world economy and discusses the spillover effects of the global financial crisis on China's financial markets and macroeconomy. It presents and critiques alternative ways of estimating these effects. Contrary to much popular discussion, China was hit fairly hard by the global recession generated by the financial crisis. It suffered a huge drop in exports, and these effects on the economy were only partially offset by China's huge stimulus program. While growth remained well above international averages, its drop was of the same order of magnitude as for the United States. The paper closes with a brief discussion of some of the major challenges facing China to rebalance its economy in order to sustain high growth.

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