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.

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.

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.

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.

scholarly journals The Financial Crisis in the 2000s: Further Effects Regarding Lending, Regulation and Efficiency

2021 ◽  
Vol 15 (2) ◽  
pp. 155-175
Author(s):  
Benedikt FRANK
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
Global Economy ◽  
Best Practice ◽  
Global Financial Crisis ◽  
Central Element ◽  
Bank Profitability ◽  
Global Economic Crisis ◽  
Underlying Causes ◽  
The Global Financial Crisis

The global financial crisis starting in 2007 was a central element of the new millennium and had a major impact on the global economy. This paper deals with the underlying causes and fundamental conditions as well as research and insights on the financial crisis in the area of liabilities and future lending, effects of regulations and bank resilience, as well as the changes in the banking industry in relation to the determinants of profitability. With three hypotheses developed on the basis of existing literature, that is critically evaluated and appraised, the paper aims to explore the global economic crisis from perspectives and origins beyond the often analysed triggers. The focus is on the pivotal point of the economic crisis: the banks and their international interconnectedness regarding lending, durability, and efficiency. Among other things, the findings revealed that the effect of the external funding shock on banks' domestic lending is significant, strong regulation, characterized as one-size-fits-all international best practice, is not always the blueprint for bank resilience and that efficiency has been a determining factor in bank profitability. Furthermore, no paradigm shift took place after the global economic crisis, and banks still seem to have to be rescued by the state in the event of bankruptcy due to their size.

scholarly journals The impact of world economic crisis on global currency war

2015 ◽  
Vol 67 (4) ◽  
pp. 391-410
Author(s):  
Pero Petrovic ◽  
Dusko Kostic
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
Financial Institutions ◽  
Global Financial Crisis ◽  
World Bank Group ◽  
Financial Flows ◽  
The World ◽  
World Economic ◽  
The Impact ◽  
World Economic Crisis

The article examines how the deepening of the world economic crisis impacts global financial flows and performance of international financial institutions, with focus on two issues: 1) did the decrease of the Euro means the beginning of the global currency war?; 2) is there any sort of banks? ?conspiracy? in the world gold market? Long-term financial crisis demands a decisive reform measure to mend the functioning and structure of the IMF, World Bank Group and other global and regional financial institutions. This means that the outcome of their policies has been inadequate, so far, and that their role is subjected to a critical observation in finding an efficient performance of financial markets. Beijing is becoming more generous lender for a large number of the low-performing countries, offering them the significant support in Yuans due to Chinese geopolitical interests. China and Russia in the field of economic development are strongly complemented: the scope of cooperation is very broad, and there is a strong potential for the establishment of other world currencies, which would suppress the U.S. dollar as the dominant currency in global commodity and financial transactions. The authors conclude that the struggle to increase the competitiveness of the national state, at the expense of others, continues in the era of the deepest global financial crisis.

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

2013 ◽  
pp. 250-260
Author(s):  
Ali Yilmaz ◽  
Semra Gunay Aktas
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 INFLUENCE OF THE GLOBAL FINANCIAL CRISIS ON THE SEPARATIST ASPIRATIONS OF CATALONIA FROM THE PERSPECTIVE OF SPANISH INTERNAL LAW

2019 ◽  
Vol 7 (1) ◽  
pp. 57
Author(s):  
Michał Zbigniew Dankowski
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
Legal System ◽  
Central Government ◽  
Global Financial Crisis ◽  
Constitutional Court ◽  
Nationalist Movement ◽  
Global Economic Crisis ◽  
The Global Financial Crisis

The Catalan Crisis of 2017-2018 has shown significant misunderstandings in the internal legal system of Spain. Many issues of the legal system were differently understood by the central government and by the autonomous authorities in Barcelona. It concerned such as important issues like the institution of referendum, which was interpreted differently by politicians from Madrid and the Constitutional Court and otherwise by those from Barcelona. The genesis of the constitutional crisis itself is rooted in the global economic crisis that began in the second half of the last decade, as it was then that the Catalan nationalist movement radicalized.

Reform of the International Financial Architecture: Clinton Proposes Strategy for Containing Global Economic Crisis; Debate Intensifies over IMF, Capital Controls, and need for “Safety Net”

1998 ◽  
Vol 9 (6) ◽  
pp. 74-104
Keyword(s):  
Financial Crisis ◽  
Economic Crisis ◽  
Capital Controls ◽  
Safety Net ◽  
Financial Architecture ◽  
International Financial Architecture ◽  
The World ◽  
Global Economic Crisis ◽  
New Ideas ◽  
The Subject

The subject that I want to discuss—let me just say one thing in advance—I'm going to give you my best thoughts. We have been working on this for three years at some level of intensity or another, going back to the Naples G-7 meeting in the aftermath of the Mexican financial crisis. I have done everything I could do personally to reach out across the country, and indeed across the world, for any new ideas from any source. I'm going to give you my best thinking today about what we can do, but I want you to know that I'm here, and if I had my druthers, this would be about a three-hour session where I'd give this talk and then I would listen for the rest of the time.

scholarly journals The Global Economic Crisis and its Effects on the Monetary Policy of Turkey

2012 ◽  
Author(s):  
Serdar Öztürk ◽  
Ali Sözdemir ◽  
Özlem Ülger
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Economic Crisis ◽  
Large Scale ◽  
Debt Crisis ◽  
Developed Countries ◽  
The United States ◽  
The World ◽  
Global Economic Crisis ◽  
The Impact

Capitalism has faced the most severe and the longest crisis since 1929. Resource of the emerging financial crisis in the second half of 2007 was mortgage crisis that experienced in the United States. The collapse of housing market has caused great instability in the financial markets and then turned into the strong liquidity crisis and spread all over the world. The impact of global economic crisis on the world economies in the last quarter of 2008 was very fast and it occured in a devastating way. In this process, the asset prices declined, capital of financial institutions seriously damaged and this caused bankruptcy of many large financial organizations such as Lehman Brothers. In this context, the growth rates in the world fell down quickly, external demand contraction and global export decreased. At this point, developed countries applied large scale financial incentive packages. Especially, the Central Banks of developed countries have provided exceptional levels of liquidity that is used as a monetary policy tool by taking the risk of deterioration of their balance sheets. During this period, as a result of these policies followed by money and finance authorities have changed only the shape of global crisis and as a result the financial crisis has turned into a debt crisis. The effects of Global Economic Crisis on the Turkish economy emerged prominently in the last quarter of 2008. However, in comparison with many European countries, it is clear that all dynamics have became more favourable for Turkey after 2010.

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 

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