scholarly journals The G20 in 2017: Born in a Financial Crisis—Lost in a Global Crisis?

2017 ◽  
Vol 3 (2) ◽  
pp. 110-123
Author(s):  
Axel Berger ◽  
Julia Leininger ◽  
Dirk Messner
Keyword(s):  
Financial Crisis ◽  
Global Crisis

scholarly journals Trust Buffers Against Reduced Life Satisfaction When Faced With Financial Crisis

2021 ◽  
Vol 12 ◽  
Author(s):  
Jocelyne Clench-Aas ◽  
Ingrid Bergande ◽  
Ragnhild Bang Nes ◽  
Arne Holte
Keyword(s):  
Life Satisfaction ◽  
Financial Crisis ◽  
Structural Model ◽  
Negative Impact ◽  
National Level ◽  
National Income ◽  
Political Trust ◽  
European Social Survey ◽  
Global Crisis ◽  
Country Level

Background: In light of the coronavirus disease 2019 (COVID-19) pandemic and its large economic consequences, we used a three-layer nested structural model (individual, community, and country), each with a corresponding measure of income, trust, and satisfaction, to assess change in their interrelationships following a global crisis; which, in this study, is the 2008/2009 financial crisis.Methods: With multilevel techniques, we analyzed data from two waves (2006 and 2012) of the European Social Survey (ESS) in 19 countries (weighted N = 73,636) grouped according to their levels of trust.Results: In high trust countries, personal life satisfaction (LS) was not related to personal, community, or national income before or after the crisis. In contrast, in low trust countries, LS was strongly related to all three forms of income, especially after the crisis. In all country groups, personal, social, and political trust moderated their respective effects of income on LS (“the buffer hypothesis”). Political trust moderated the effects of income more strongly in low trust countries. The moderating effect of political trust increased sharply after the crisis. After the crisis, national-level factors (e.g., political trust, national income) increased their importance for LS more than the factors at the local and individual levels. However, the relative importance of all the three forms of income to LS increased after the crisis, to the detriment of trust.Conclusion: Economic crises seem to influence personal LS less in high trust countries compared with low trust countries. Hence, high trust at a national level appears to buffer the negative impact of a financial crisis on personal satisfaction. Overall, the factors at the national level increased their impact during the financial crisis. When facing a global crisis, the actions taken by institutions at the country level may, thus, become even more important than those taken before the crisis.

The First History of Our Financial Crisis

2019 ◽  
Vol 93 (1) ◽  
pp. 161-171
Author(s):  
Per H. Hansen
Keyword(s):  
Financial Crisis ◽  
Credit Card ◽  
Consumer Demand ◽  
House Prices ◽  
Historical Narrative ◽  
Short Term ◽  
Global Crisis ◽  
The People ◽  
History Of

Adam Tooze's Crashed is arguably the first historical narrative of the financial crisis. It is an ambitious account of the crisis and its global economic, financial, political, and geopolitical causes and implications. Crashed is organized chronologically in four parts—the “Gathering Storm,” “The Global Crisis,” “Eurozone,” and “Aftershocks”—and focuses more on the macrolevel structures, processes, and decisions than on the microlevel and the people suffering from the crisis. Except, that is, in aggregate numbers and a few empathic comments such as this: “As house prices fell, equity dwindled, and the hardest hit slid into negative equity. Families scrambled to slash spending and pay down credit card and other short-term debt. The result was a smothering recession in consumer demand” (p. 143).

The 2008 Global Crisis and Israel-Economy Resilience

2018 ◽  
Author(s):  
Assaf Razin
Keyword(s):  
Financial Crisis ◽  
Foreign Exchange Market ◽  
Global Financial Crisis ◽  
Domestic Currency ◽  
Global Crisis ◽  
Policy Makers ◽  
The Great Depression ◽  
Market Intervention ◽  
The Global Financial Crisis ◽  
Financial Shock

The global financial crisis generated the deepest and longest recession since the Great Depression of the 1930s. The defining event of the 2008 global financial crisis was a “hemorrhagic stroke”: a paralytic implosion of the loanable funds markets. Depression forces such as they exist in the US, Europe, or Japan, do not appear to hold in the case of Israel. Its resilience to the external financial shock during the global crisis is rooted in (a) the absence of credit boom in the wake of the crisis, and (b) the relatively small commercial banks' exposure in terms of toxic assets that for the European countries played a major role. Reacting to the global trade-diminishing shocks, policy makers’ concern was three-fold: First, banks exposures to toxic assets such as mortgage based securities and foreigners’ debt obligations. Partly because Israel skipped the credit bubble, and bank regulations were relatively tight, Israel showed a sound resilience to the global financial shock. Second, Israel export markets softened and demand conditions deteriorated. Third, Israel domestic currency got strengthened. Bank of Israel addressed the last two issues by a massive foreign exchange market intervention to weaken the value of the domestic currency, and stimulate exports. The need to prolong the stimulus policies dissipated relatively fast.

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.

Trends of Development of International Trade in Goods in 1990–2008

2011 ◽  
pp. 36-47
Author(s):  
V. Sokolov
Keyword(s):  
International Trade ◽  
Financial Crisis ◽  
North America ◽  
East Asia ◽  
Industrial Production ◽  
Western Europe ◽  
Negative Impact ◽  
Balance Of Payments ◽  
Global Crisis ◽  
The World

In today's world there are three centers of industrial production: Western Europe, North America and East Asia. These regions account for the lion's share of world exports of industrial products. The financial crisis of 2008-2009 exerted major negative impact on the growth of international trade in these products. The article examines the trade in certain branches of engineering products in 1990-2000, the influence of the global crisis on international trade, as well as the balance of payments problems of major countries and regions of the world.

scholarly journals Rethinking keynesianism 10 years after the global crisis

2018 ◽  
Vol 68 (s2) ◽  
pp. 7-19
Author(s):  
Vito Tanzi
Keyword(s):  
Fiscal Policy ◽  
Financial Crisis ◽  
Great Recession ◽  
Fiscal Policies ◽  
Global Crisis

For many years Keynesian fiscal policy became very popular and was used by governments to fight slowdowns and recessions. In the 1980s and in the next three decades, this policy lost much appeal among economists in academia, though less among governments. The financial crisis of 2007–2008 and the following Great Recession brought a sudden revival of interest in and use of fiscal policies. This paper outlines the main criticisms that were directed at the Keynesian fiscal policy from the beginning. Some of these criticisms are less-known than others.

Out of Work or Out of Time? Rethinking Labor after the Financial Crisis

2012 ◽  
Vol 111 (4) ◽  
pp. 621-641 ◽  
Author(s):  
Lisa Adkins
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Women's Labor ◽  
Female Labor ◽  
Global Crisis ◽  
Sexual Contract ◽  
The Social ◽  
Value Production ◽  
The Global Financial Crisis ◽  
A Site

Prior to the recent global crisis a consensus was emerging that post-Fordism had ushered in a new sexual contract, one characterized not by exclusion and containment, but by the prospecting for potential, a prospecting that located women’s labor not as a reserve for capital but as a site of vitality and possibility. The global financial crisis and ongoing recession, however, have been positioned as undoing these radical transformations in women’s labor by threatening a return of the social formations characteristic of Fordism. Yet in this essay I suggest that to understand the ongoing recession as producing such a return is to thoroughly misapprehend value production in post-Fordism and, in particular, to bracket the process of the folding of the economy into society. To illustrate this process, I focus on unemployment, specifically the eventful productiveness of unemployment in recessionary post-Fordism. Confronting this eventful productiveness necessitates not only a recognition of a material reworking of unemployment in post-Fordism, but also undoes the idea that the ongoing recession is linked to a return to the social formations of Fordism. This essay therefore posits that unemployment is a crucial site for the theorization of post-Fordist labor, including the ongoing, radical reworking of the potentialities of female labor.

scholarly journals DAMPAK KRISIS FINANSIAL GLOBAL TERHADAP PHK

2009 ◽  
Vol 5 (3) ◽  
Author(s):  
Endang Sriningsih
Keyword(s):  
Financial Crisis ◽  
Global Crisis ◽  
Medium Scale ◽  
Early Estimate ◽  
The Impact ◽  
Time Sector

Crisis financial happened in latter months truly begin inUnited States. But the impact or effect to other nations, includingIndonesia, cannot be obviated. Many circle of predicting this crisis inIndonesiawill start felt in the year next. Possibly continue until year 2010. The decline of material requisition inAmericanStateand Japan for State of purpose ofIndonesiaexporting result the light sectors this exporting and result threat disconnection of job everywhere. So also some the companies inSurabaya, there is about 11 company, they have raised PHK to the employees, is mostly is medium scale company. Crisis knocking over in this time still early. Estimate, crisis culminate at mid of knowing 2009. In this time sector is real will feel guncangan very heavy. For anticipating kemungkinahn crisis obsolesce financial the is global have to be looked by the solution, is more than anything else cure of economics inIndonesianot so strong. This thing is seen fromIndonesiaforeign exchange reserve which still weakens. At least, butuh time of two until three year for returning was normal. To break this financial crisis impact of government require to do inter alia: (1) Government have to pay attention to UMKM, (2) Program Nasional Pemberdayaan Masyarakat (PNPM), (3) Reinforcement Of Performance Exported, and (4) Strengthen Economics Base on independence. Keyword: Global crisis impact and PHK

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.

Sign in / Sign up

Export Citation Format

Share Document