Shocks in Global Economy

2018 ◽  
pp. 238-256 ◽  
Author(s):  
Andrey Pilipenko ◽  
Zoya Pilipenko
Keyword(s):  
Business Cycles ◽  
Financial Crises ◽  
Global Economy ◽  
Theoretical Explanation ◽  
Economic Systems ◽  
Theoretical Investigations ◽  
The World ◽  
Global Shocks ◽  
Economic Shock

This chapter represents an attempt to analyze the role of shocks (impulses) in business cycles in the world economy in connection with the global financial crises of the late 2000s. The theoretical explanation of the origin of any economic shock (external impulse), of economic systems' reaction to it, as well as of the way the global shocks spread its influence all over the world suggests that the analytical predictions of E. Slutsky and R. Frish can be correct. The results provide some evidence for the hypothesis that the cyclical model of development of any economic system means its adjustment to new conditions caused by external impulses (shocks). To reinforce the findings, some results associated with other theoretical investigations and analytical researches are presented.

scholarly journals Editorial: From Exceptional Cases to Everyday Abuses: Labour exploitation in the global economy

2020 ◽  
pp. 1-19
Author(s):  
Joel Quirk ◽  
Caroline Robinson ◽  
Cameron Thibos
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Driving Forces ◽  
Economic Systems ◽  
Special Issue ◽  
Labour Exploitation ◽  
Modern Slavery ◽  
Political Relationship ◽  
The World

This article introduces a special issue on economic systems and everyday abuses of labour rights. In recent decades, neoliberal policies have transformed both the world economy and the world of work. Hard-won rights and protections have been eroded by deregulation, outsourcing, and subcontracting. New forms of unstable, isolated, and insecure work have emerged. This introduction examines the driving forces behind the increasing prominence of precarious work, the accelerating role of migrant labour within global economic systems, and the political relationship between everyday abuses and forms of severe exploitation which have recently come to be defined as human trafficking and modern slavery. We argue that a singular focus upon individual cases of extreme exploitation is unlikely to be effective, and can also draw attention away from the larger systems, interests, and abuses that are associated with the smooth and regular operations of the global economy. We also suggest that at least some of the energies which have recently been expended debating the contentious category of ‘modern slavery’ could be usefully redirected towards lower profile interventions concerned with worker and migrant rights. There are never going to be simple or straightforward solutions to labour abuses, so it is necessary to take many bumpy paths simultaneously, with small steps forward and some steps backward.

The Role of Technological Change in the Long-run Global Economy Forecasting

2013 ◽  
pp. 97-116 ◽  
Author(s):  
A. Apokin
Keyword(s):  
Technological Change ◽  
Data Quality ◽  
Long Range ◽  
Global Economy ◽  
World Economy ◽  
Qualitative Approaches ◽  
Long Run ◽  
The World ◽  
National Economies

The author compares several quantitative and qualitative approaches to forecasting to find appropriate methods to incorporate technological change in long-range forecasts of the world economy. A?number of long-run forecasts (with horizons over 10 years) for the world economy and national economies is reviewed to outline advantages and drawbacks for different ways to account for technological change. Various approaches based on their sensitivity to data quality and robustness to model misspecifications are compared and recommendations are offered on the choice of appropriate technique in long-run forecasts of the world economy in the presence of technological change.

The Ubiquitous Internet

2014 ◽  
pp. 81-85
Author(s):  
Robert van Wessel ◽  
Henk J. de Vries
Keyword(s):  
The Internet ◽  
Economic Systems ◽  
Net Neutrality ◽  
The World ◽  
The Future ◽  
Set Up

We all take the ubiquity of the Internet for granted: anyone, anywhere, anytime, any device, any connection, any app…but for how long? Is the future of the Internet really at stake? Discussions about control of the Internet, its architecture and of the applications running on it started more than a decade ago (Blumenthal & Clark, 2001). This topic is becoming more and more important for citizens, businesses, and governments across the world. In its original set-up, the architecture of the Internet did not favor one application over another and was based on the net neutrality principle (Wu, 2003). However, architectures should be understood an “alternative way of influencing economic systems” (Van Schewick, 2010), but they should not be a substitute for politics (Agre, 2003). The architecture is laid down in standards and therefore discussions about the future of the Internet should also address the role of standards. This is what this chapter aims to do.

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.

The Middle Path of Moderation in Islam

2015 ◽  
Author(s):  
Mohammad Hashim Kamali ◽  
Tariq Ramadan
Keyword(s):  
Environmental Degradation ◽  
Financial Crises ◽  
Conceptual Analysis ◽  
Modern World ◽  
Continuity And Change ◽  
Personal Character ◽  
The World ◽  
Historical Profile ◽  
Moderating Role

This book is presented in two parts, consisting of a total of twenty-three chapters. Part One occupies seven chapters, which begin with a conceptual analysis of wasaṭiyyah, its meaning, definition, scope, and manifestations. This is followed by a review of the source evidence in the Qur’an and hadith, and then a round-up of modern opinion on wasaṭiyyah. The hallmarks of wasaṭiyyah and those of extremism, identification of wasaṭiyyah, its manifestations, and institutional developments on wasaṭiyyah are also discussed under Part One. Part Two looks into the various manifestations of wasaÏiyyah in the context, for instance, of religiosity, moderation and justice, environmental degradation, and financial crises the world has experienced in recent years. Other chapters that follow address subjects such as moderation in jihÉd, the moderating role of disagreement (ikhtilÉf), how wasaÏiyyah can be manifested with regard to women’s rights, the moderating influence of Sufism, wasaÏiyyah and globalization, and moderation in personal character and lifestyle. Two other chapters that appear toward the end bear the titles respectively of “Islam Between Antiquity and the Modern World” and “Reconciling the Concerns of Continuity and Change.” The former looks at Islam’s historical profile, how it played out its role of moderation in its relations with the outside world, whereas the latter looks into the ways Islam can moderate itself from within through the instrumentalities, for instance, of tajdid and islah (renewal and reform), respectively. In almost every chapter, the book explores Islamic principles and doctrines on a number of selected themes that seek to contextualize Islamic teachings with contemporary realities through the lenses of wasaṭiyyah. Part One thus focuses on a conceptual analysis of wasaṭiyyah and its understanding from a perusal of the Islamic text and doctrine, whereas Part Two presents a selected cluster of themes related to wasaṭiyyah and their application to contemporary issues.

scholarly journals THE ECONOMIC IMPACT ON GLOBAL TOURISM

10.26458/1728 ◽  
2017 ◽  
Vol 17 (2) ◽  
pp. 127-139
Author(s):  
Bogdan Sofronov
Keyword(s):  
Economic Development ◽  
Economic Impact ◽  
Economic Activity ◽  
Global Economy ◽  
Gdp Growth ◽  
Mutual Understanding ◽  
Tourism Sector ◽  
The World ◽  
Global Tourism

Tourism is an important economic activity in most countries around the world. As well as its direct economic impact,the industry has significant indirect and induced impacts.The outlook for the Tourism sector in 2017 remains robust and will continue to be at the forefront of wealth and employment creation in the global economy, despite the emergence of a number of challenging headwinds.In tourism, GDP growth is expected to accelerate to 3.8%, up from 3.1% in 2016. As nations seem to be looking increasingly inward, putting in place barriers to trade and movement of people, the role of Tourism becomes even more significant, as an engine of economic development and as a vehicle for sharing cultures, creating peace, and building mutual understanding.

scholarly journals THE ROLE OF EXCHANGE PROPORTIONS IN THE INFLATION AND ECONOMIC CRISES

2014 ◽  
pp. 90-99
Author(s):  
P. V. Ushanov
Keyword(s):  
Life Cycle ◽  
Economic Crisis ◽  
World Market ◽  
Economic Systems ◽  
Economic Crises ◽  
The World ◽  
Modern Economic ◽  
The Impact

The article terminates the author's series of publications on the impact of system of stereotypes of behaviour – "success formula" - on the development of phases of the life cycle of the socio-economic systems [7-11]. The author argues in favor of the view that lifecycle of any object of management is a complex spiral consisting of 10 phases, each of which, in turn, can be regarded as a separate life cycle. Because of the stereotypes of behaviour, prevailing during previous lifecycle phases, a change of lifecycle phases often leads to a crisis and is accompanied by painful correction of exchange proportions. The author motivates his conclusion that the modern economic crisis is caused by the distortion of exchange proportions. The indexes of changes in exchange proportions are proposed to use as an indicator of stability of the world market. Proposals on overcoming the crisis are made.

scholarly journals Współczesna globalizacja: przebieg, czynniki i oznaki metamorfozy procesu

2017 ◽  
pp. 49-96
Author(s):  
Anna Zorska
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Foreign Direct Investments ◽  
Political Factors ◽  
Demographic Situation ◽  
Global Flows ◽  
Nation States ◽  
The World ◽  
Development And Evolution

The article aims at an analysis of changes in development of globalization which took place during the 2007-2008 crisis and the following years of the economic slowdown. The analysis is conducted against the background of the situation in the world economy and includes investigation of changes (dynamics and structures) in global flows of merchandise, exports of services and foreign direct investments. The structural transformation of global flows indicates the increasing share and role of China in the world economy. The significance of transnational corporations in the globalization process calls for portraying the evolution of their activity and relations with nation states and other groups of economic actors. Attention is drawn to changes in the set and forces of key globalization factors, including technological progress (in the age of information revolution), economic, social and demographic as well as political factors. The increasing impacts of evolving States' policies and socio-demographic situation on trends in the global economy are acknowledged. The transformation of globalization factors considerably affects the development and evolution (or metamorphosis) of the investigated process. Six signs of the initiated metamorphosis of globalization, which indicate possible intensification and direction of changes in the futurę development of the process, are discussed

scholarly journals EDITORIAL: COVID-19 PANDEMIC AND INTERNATIONAL TOURISM DEMAND

2020 ◽  
Vol 5 (1) ◽  
pp. 1 ◽  
Author(s):  
Tri Haryanto
Keyword(s):  
Global Economy ◽  
Economic Recession ◽  
International Tourism ◽  
Tourism Demand ◽  
Research Topics ◽  
Global Issue ◽  
The World ◽  
Global Economic Growth ◽  
The Impact

COVID-19 pandemic has become a global issue. Many experts predict that this pandemic will cause global economic growth to decline this year, or even the global economic recession. All efforts conducted by many countries in the world massively to prevent its spread such as social distancing, self-isolation, and similar actions to lockdown may have a major impact on tourism demand in many countries. The next section sequentially will discuss a brief review of the role of international tourism on the economy, the impact of the COVID-19 pandemic on the global economy and international tourism, and further research topics for the next edition.

scholarly journals The Role Of Turkish Central Bank During And After The 2008-Financial Crises

2011 ◽  
Vol 10 (12) ◽  
pp. 93
Author(s):  
Ayhan Guney
Keyword(s):  
Central Bank ◽  
Financial Crises ◽  
Central Banks ◽  
Fiscal Policies ◽  
Monetary Policies ◽  
The World ◽  
One Year ◽  
Short Time ◽  
Time Spread

The Global Financial Crises occurred at the end of 2008, and in very short time, spread to all sectors of economy.All countries were badly hit by the crises and the World economies shrank almost $50 trillion, the equivalent of one year of world GDP.During the process, especially the banking sectors of the world economies was smashed, and many banks and financial institutions bankrupted and some others liquidated such as Lehman Brothers. All countries took the drastic fiscal and monetary measures to overcome the global crises. So, this paper focuses on the functions of central banks asking that what the role of central banks to cope with the global crises was, and thus omits the side of fiscal policies implemented by different countries.It especially discusses the role of Turkish Central Bank and its monetary policies during and after the 2008-Global Financial Crises. What was the achievement of the measures taken and the monetary policies implemented by Turkish Central Bank during and after the financial crises?

Sign in / Sign up

Export Citation Format

Share Document