Economic Crisis and its Impact on Regionalism and Globalism

2016 ◽  
pp. 1841-1863
Author(s):  
Baris Kablamaci ◽  
Giray Gozgor
Keyword(s):  
International Trade ◽  
Financial Crisis ◽  
Economic Crisis ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Sovereign Debt Crisis ◽  
Historical Pattern ◽  
Recent Developments ◽  
Great Trade Collapse ◽  
Financial Crisis Of 2008

This chapter reviews the financial crisis of 2008-09 and its impacts on the international trade in terms of regionalism and globalism. The chapter glances over different aspects of globalism and regionalism as well as looks on historical pattern and recent developments of regionalism and globalism. The data used in the chapter indicates that the financial crisis of 2008-09 negatively affected both globalization and regionalization trends. In addition, the EU has experienced an interesting transformation from regionalism to globalism. This chapter suggests that the issue is not only related with the great trade collapse of 2008-09 but also the sovereign debt crisis of 2010-12.

Economic Crisis and its Impact on Regionalism and Globalism

2015 ◽  
pp. 234-256
Author(s):  
Baris Kablamaci ◽  
Giray Gozgor
Keyword(s):  
International Trade ◽  
Financial Crisis ◽  
Economic Crisis ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Sovereign Debt Crisis ◽  
Historical Pattern ◽  
Recent Developments ◽  
Great Trade Collapse ◽  
Financial Crisis Of 2008

This chapter reviews the financial crisis of 2008-09 and its impacts on the international trade in terms of regionalism and globalism. The chapter glances over different aspects of globalism and regionalism as well as looks on historical pattern and recent developments of regionalism and globalism. The data used in the chapter indicates that the financial crisis of 2008-09 negatively affected both globalization and regionalization trends. In addition, the EU has experienced an interesting transformation from regionalism to globalism. This chapter suggests that the issue is not only related with the great trade collapse of 2008-09 but also the sovereign debt crisis of 2010-12.

scholarly journals PERSPECTIVES OF THE EURO AREA SOVEREIGN DEBT CRISIS FOR THE BRAZILIAN ECONOMY

2013 ◽  
Vol 31 (60) ◽  
Author(s):  
Horst Dieter Moller ◽  
Tales Vital
Keyword(s):  
Financial Crisis ◽  
Euro Area ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Credit Crunch ◽  
Sovereign Debt Crisis ◽  
Financial Crisis Of 2008 ◽  
Public Banks ◽  
The Global Financial Crisis

The objective of this article is to show the perspectives of the euro area sovereign debt crisis for the Brazilian economy. The euro area sovereign debt crisis, beginning in 2010, could be seen as fallout of the global financial crisis of 2008/09. The ways to the crisis for Portugal, Ireland, Italy, Greece and Spain were different: Credit booms and housing bubbles, banking crises, unsustainable public indebting. The impacts on Brazil were felt in 2011 and 2012 with the Brazilian economy almost stagnating. The article evaluates the impacts of the global financial crisis 2008/09 on the Brazilian economy through real and monetary channels, as well as through the contagion of expectations, to find similarities with the present crisis. The main influence was the fall of Brazilian exportations and the credit crunch following the failure of Lehman Brothers in September 2008. The article supposes that the impacts of the euro area crisis shall be less problematic than that of the global financial crisis of 2008/09, because exportations are geographically more diversified and a credit crunch could be confronted by the BNDES and the public banks in Brazil. But the main argument is that the stability of Brazilian institutions, the geographical diversification of exportations and the increasing demand for commodities by the emerging markets in Asia will soften the impacts of the present crisis for Brazil, supposing that contagion of the sovereign debt crisis in the euro area will not expressively hit the more important economic powers in Europe and the world. The causes of the stagnating Brazilian economy in 2012 probably are not only the problems in the euro area.

Conclusion

2018 ◽  
Author(s):  
Nauro F. Campos ◽  
Paul De Grauwe ◽  
Yuemei Ji
Keyword(s):  
Financial Crisis ◽  
Business Cycle ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Structural Reform ◽  
Structural Reforms ◽  
Sovereign Debt Crisis ◽  
The Business Cycle ◽  
The Global Financial Crisis

Structural reform policies move like the business cycle. There are moments when these are implemented with great fervour and others when they are put on the back burner or even dismantled. After the global financial crisis, and in particular the sovereign debt crisis in Europe, many countries were forced by creditor countries or were self-imposed to apply deep reforms to their product markets and especially to their labour markets. Now that Europe is recovering, the pressure to implement structural reforms has abated....

On Financial Contagion Through ETFs

2020 ◽  
pp. 82-101
Author(s):  
Alexia Thomaidou ◽  
Dimitris Kenourgios
Keyword(s):  
Financial Crisis ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Financial Contagion ◽  
Sovereign Debt Crisis ◽  
European Sovereign Debt Crisis ◽  
The Interest Rate ◽  
The Global Financial Crisis ◽  
The Impact

This chapter investigates the impact of the Global Financial Crisis and the European Sovereign Debt Crisis in ETFs across regions and segments. In particular, two tests are taking place, with the first one to examine if there is evidence of contagion effect and the second one to test the affection of risks in each pair of ETFs. The evidence across the stable period and the two crisis periods suggests the existence of the transmission of shocks from the Global Financial ETF to regional and sectoral ETFs. However, there is evidence that some of the ETFs remain less unaffected during both crises and some of them are immune. Moreover, the authors examine the impact of several control variables, which represent various risks, to the correlation of each pair of ETFs and the results show the influence of the interest rate risk and interbank liquidity risk during the Global Financial Crisis and the European Sovereign Debt Crisis.

The Italian labour market policy reforms and the economic crisis: coming towards the end of Italian exceptionalism?

2018 ◽  
Author(s):  
Patrik Vesan ◽  
Emmanuele Pavolini
Keyword(s):  
Labour Market ◽  
Economic Crisis ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
New Wave ◽  
Sovereign Debt Crisis ◽  
Policy Reforms ◽  
Market Policy ◽  
Labour Market Policies ◽  
The Great Recession

The Italian labour market has been put under very strong pressure since the onset of the financial and economic crisis. After the 2011 sovereign debt crisis a new wave of reforms started in relation to labour market policies. Although it is not possible to detect a single trajectory of change in Italian labour market policies, we can observe an overall tendency toward a peculiar version of ‘welfare readjustment’, a pattern of reform in which governments curtail such policies as income or job protection for insiders, while adopting new social policies. This ‘readjustment process’ has been realised through the adoption of some provisions that favour ‘outsiders’ and, at the same time, the drastic retrenchment of labour rights for workers on open-ended contracts. As a result, the boundaries between ‘insiders’ and ‘outsiders’ now appear more blurred than they were before the outbreak of the Great Recession.

scholarly journals The Double Democratic Deficit

2020 ◽  
pp. 75-109
Author(s):  
Bettina De Souza Guilherme
Keyword(s):  
Financial Crisis ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Maastricht Treaty ◽  
Democratic Deficit ◽  
Paradigm Change ◽  
Democratic Accountability ◽  
Sovereign Debt Crisis ◽  
Underlying Causes ◽  
The Eu

AbstractThis chapter will sketch how the EU has reacted to the financial crisis and in particular to the unfolding sovereign debt crisis, revealing major flaws in EMU’s architecture. It will not only address these design flaws but attempt to evaluate the underlying causes, reasons and motives of the architects and decision takers by comparing the more “federalist” Werner Plan with the more “intergovernmental” blueprint of the EMU of the Maastricht Treaty, connect it with the paradigm change on economic governance discussed by Schulmeister in Chap. 10.1007/978-3-030-54895-7_2 and show the consequences for the crisis and its management in terms of efficiency, equity and democratic accountability.

Sign in / Sign up

Export Citation Format

Share Document