Effect of Recent Global Financial Crisis on South Asian Economy with Special Reference to India

2015 ◽  
pp. 355-378
Author(s):  
Chiranjib Neogi
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Manufacturing Sector ◽  
Export Market ◽  
External Trade ◽  
Asian Countries ◽  
Goods And Services ◽  
World Demand ◽  
Asian Economy ◽  
Productivity And Competitiveness

Most of the Asian countries were affected adversely for the recent global financial crisis, especially those economies whose growths are largely depended on the external trade. It has been observed over time and again that Indian economy has not been significantly harmed by the waves of global financial and economic crises because of its large domestic market, which can accommodate any external shock. During the phase of shrinking world demand of domestic goods and services, efforts to raise productivity and competitiveness helps countries to protect export market. This chapter investigates the dependence on the external market and the effect of global financial crisis on the trade structure of some Asian countries. Some detail studies will be done for India in respect of compositional changes and productivity and efficiency changes of different industries within manufacturing sector during pre and post crisis period. Efficiency and productivity will be analyzed using frontier model.

scholarly journals Determinants of failure in Greek manufacturing SMEs

2017 ◽  
Vol 14 (3) ◽  
pp. 45-55 ◽  
Author(s):  
Efthalia Tabouratzi ◽  
Christos Lemonakis ◽  
Alexandros Garefalakis
Keyword(s):  
Financial Crisis ◽  
Financial Reporting ◽  
Fixed Effects ◽  
Global Financial Crisis ◽  
Manufacturing Sector ◽  
Bank Lending ◽  
Policy Implications ◽  
Z Score ◽  
The Government ◽  
The Global Financial Crisis

The globalization and the global financial crisis provide a new extremely competitive environment for small and medium sized enterprises (SMEs). During the latest years, the increased number of firms’ default has generated the need of understanding the factors of firms’ default, as SMEs in periods of financial crisis suffer from lack of financial resources and expensive bank lending. We use a sample of 3600 Greek manufacturing firms (9 Sectors), covering the time period of 2003-2011 (9 years). We run a panel regression model with correction for fixed effects in both the cross-section and period dimensions using as dependent variable the calculated Z-Score of each firm, and as independent variables several financial ratios, as well as the exporting activity and the use of International Financial Reporting Standards (IFRS Accounting Standards).We find that firms presenting higher performance in terms of ROA and sales and higher leverage levels that enhance their liquidity as well are healthier in terms of Z-score than their less profitable counterparts and acquire lower rates of probability of default: in other words, less risk. The results of the study can lead to policy implications for both Managers and the Government in order to enhance the growth of Greek manufacturing sector.

Malaysia–US Bilateral Relations in the Aftermath of the 2008 Global Financial Crisis

2016 ◽  
pp. 285-298
Author(s):  
Mas Juliana Mukhtaruddin
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
External Trade ◽  
Department Of State ◽  
Bilateral Relations ◽  
Advanced Economies ◽  
The Us ◽  
The World ◽  
Tangible Evidence ◽  
Visible Effect

Malaysia–United States relations are enormously significant. From the perspective of the US Department of State, Malaysia is a significant player at both the regional and international levels. The world financial crisis that began in the US at the end of 2007 moderately affected the Malaysian economy. While the US was at the center of the crisis, Malaysia felt its effects as one of Asia's export-reliant economies. Regarding the implications of the crisis, some tangible evidence has been evaluated. The fourth quarter of 2008 was devastating for the world's advanced economies, including the US, and Malaysia's external trade-related sectors were severely struck. The primary reason for this visible effect was a disruption in the trade demand. Against this background, this paper examines the aftermath of the world financial crisis on the relations between Kuala Lumpur and Washington, particularly on the political and economic bilateral ties.

scholarly journals Exporters in the Financial Crisis

2014 ◽  
Vol 228 ◽  
pp. R49-R57 ◽  
Author(s):  
Holger Görg ◽  
Marina-Eliza Spaliara
Keyword(s):  
Financial Crisis ◽  
Firm Growth ◽  
Global Financial Crisis ◽  
Export Market ◽  
Growth And Survival ◽  
Financial Variables ◽  
Large Panel ◽  
Recent Financial Crisis ◽  
The Global Financial Crisis ◽  
Participation Decisions

Using a large panel of UK manufacturing firms over the period 2000–9, we consider how firms responded during the most recent financial crisis, estimating models for export market participation decisions and firm growth and survival. The results indicate that financial variables are highly important in predicting export market entry, especially in the midst of the global financial crisis. With respect to firm growth and survival, we find that starters and continuous exporters are more likely to perform well in and out of the crisis than non-exporters.

scholarly journals TRANSMISI DAMPAK MELALUI JARINGAN PERDAGANGAN: PENDEKATAN ASIAN-IO

2014 ◽  
Vol 16 (4) ◽  
pp. 339-372
Author(s):  
Ibrahim Ibrahim ◽  
Tri Winarno ◽  
Melva Viva Grace ◽  
Yan Fitri
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Value Added ◽  
Jel Classification ◽  
Input Output ◽  
Asian Countries ◽  
Production Chain ◽  
The Us ◽  
Similar Point ◽  
The Impact

Global financial crisis which began in the US in the latter part of 2008 hit a lot of countries in both trade and finance. In trade aspect, the crisis spread widely; in Indonesia, the total export value in 2009 dropped to 14,3%. Therefore, the economy of China, tightly linked with Asian countries including Indonesia, which rapidly rose before the crisis but slowed after it should be monitored as this condition, could indirectly hold down Indonesia’s GDP. Applying RAS method to update Asian IO data, this research has attempted to describe the trade structure of Asian countries in 2010. Also, it implemented a simulation of the impact of US and China’s GDP decline and US exports on Indonesia’s GDP, both at aggregate and sector levels. The result of the mapping shows that Indonesia is getting more dependent on China. Generally, the link between Indonesia’s exported products and global production chain is weak. Indonesia’s export commodities which are mostly of intermediate goods have low contribution towards value added. Moreover, the result of the simulation shows that 1% decrease in China’s GDP has greater impact on Indonesia’s GDP (0,14%) than that of the US (0,05%) and EU (0,07%) though with similar point.  Keyword: Trade Interactions, Input Output Model JEL Classification : F16, R15

Two Crises Separated by a Decade: Political Economy of Trade Strategy and Reserves Accumulation in East Asia

2021 ◽  
pp. 263168462110320
Author(s):  
Biswajit Nag ◽  
Partha Ray
Keyword(s):  
Financial Crisis ◽  
Current Account ◽  
Global Financial Crisis ◽  
East Asian ◽  
Jel Classification ◽  
Current Account Balance ◽  
Asian Countries ◽  
Trade Surplus ◽  
Major Shift ◽  
The Global Financial Crisis

This article seeks to explore the relationship between the global financial crisis (2007–2009) and the East Asian crisis (1997–1999) via the contribution of select East Asian countries, which led to the formation of the ‘global imbalance’, that is, experience of substantial and consistent current account surplus. Taking a cue from Bernanke’s ‘savings glut’ hypothesis, which has held ‘global imbalance’ to be a factor behind the global financial crisis, specifically, the article argues that in these countries, the nature of current account balance has undergone a sea change since the end of the 1990s. They also accumulated a substantial amount of foreign exchange reserves since then along with a major shift of trade regime and consequent trade surplus in all these countries. The article conjectures that the mishandling of the rescue package by International Monetary Fund could have induced them to go aggressively for accumulation of forex reserves. Thus, the two crises separated by a decade and in different continents are, indeed, linked through providing an incentive for brewing up of global imbalance via an activist trade policy in select East Asian countries. Seen in this context and from this standpoint, the two crises, indeed, appear to be close siblings! JEL Classification: F41, F62, O53

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