scholarly journals A Critical Analysis of the Macroeconomic Policies in Brazil from Lula da Silva to Dilma Rousseff (2003-2014)

2015 ◽  
Vol 1 (2) ◽  
pp. 218-227
Author(s):  
Luiz Fernando De Paula ◽  
Fernando Ferrari
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Critical Analysis ◽  
Global Financial Crisis ◽  
Macroeconomic Policies ◽  
Short Article ◽  
Main Hypothesis ◽  
The Great Recession ◽  
Economic Framework ◽  
The Global Financial Crisis

In this short article, we aim at presenting a critical analysis of the macroeconomic policies implemented by the Lula da Silva and Dilma Rousseff governments in Brazil. The main hypothesis is that the economic framework of the ‘leftist’ governments has been managed pragmatically, mainly due to the global financial crisis (GFC) and the Great Recession (GR), and is still conservative, and cannot be considered as genuine Keynesian policies.

scholarly journals Brazilian economic performance since the emergence of the great recession: The effects of income distribution on consumption

2016 ◽  
Vol 63 (2) ◽  
pp. 157-174 ◽  
Author(s):  
Philip Arestis ◽  
Carolina Troncoso-Baltar ◽  
Daniela Magalhães-Prates
Keyword(s):  
Economic Growth ◽  
Economic Performance ◽  
Great Recession ◽  
Growth Rates ◽  
Global Financial Crisis ◽  
Gdp Growth ◽  
Macroeconomic Policies ◽  
Main Hypothesis ◽  
The Great Recession ◽  
The Global Financial Crisis

After a long period of unstable and low economic activity, Brazil achieved a relatively high economic growth with low inflation from 2004 to 2008, when the world scenario was favourable for the Brazilian trade balance. An incomes policy, focused on real increases in the minimum wage along with a credit boom, led to a decade of high consumption growth rates. High levels of consumption and exports, in turn, induced investment and stimulated manufacturing production, despite the real appreciation of the national currency. However, the Great Recession that emerged after the global financial crisis of 2007/2008 brought challenges to the Brazilian economic performance, with unpleasant consequences for the country?s GDP growth. Consumption, investment and exports have decelerated, despite anti-cyclical macroeconomic policies. In this setting, manufacturing production stagnated and GDP growth slowed down substantially, while imports continued rising considerably. The aim of this paper is to provide an explanation to the slowdown of Brazilian growth rates after the Great Recession. The main hypothesis is that consumption was the main source of effective demand in the country since 2003. However, Brazil has not yet been able to sustain manufacturing and economic growth without a more active government policy to stimulate productive investment.

scholarly journals A Study of Global Recession Recovery Strategies in Highly Ranked GDP EU Countries

ECONOMICS ◽  
2021 ◽  
Vol 9 (1) ◽  
pp. 85-105
Author(s):  
Mythili Kolluru ◽  
Denis Hyams-Ssekasi ◽  
K.V.Ch.Madhu Sudhana Rao
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Developmental Model ◽  
Eu Countries ◽  
The Great Recession ◽  
Global Recession ◽  
Recovery Strategies ◽  
The World ◽  
The Global Financial Crisis

Abstract The Global financial crisis of 2008-2009 severely impacted the developed economies of the world. It occurred at a time when most countries had started gaining economic growth, stability, and vibrance. Each country experienced a jolt to its economy, causing financial fragility, shocks, tragedy, and struggle. Attempts have been made to understand the root causes, economic instability, and the lessons learned from the great recession. Given the current situation of the COVID-19 pandemic, this research paper seeks to examine the global recession, its effect on the economy and finances. Our research is based on the qualitative analysis of comparing the impact of the global financial crisis and strategic recovery recession plans of the top five GDP countries in the European Union-particularly Germany, the UK, France, Spain, and Italy to draw some similarities between a recession and COVID-19 pandemic in terms of the economy. The findings indicate that the great recession had a devastating impact on the entire economy, and the world can learn valuable lessons. It notes that out of the selected five EU countries, Germany was the first to recover and bounce back by 2011, but Italy and Spain were severely hit and took longer to recover only partially. The recession recovery strategies demonstrate some similarities in economic and employment measures and differences concerning tax reforms and financial support packages initiated by all five countries. There needs to be a mechanism in which each country must prepare for untimely recessions. Thus, a developmental model has been created to enable countries to be more prepared when faced with recessions in the future years.

Ambiguity, Equivocation, and Economics

2020 ◽  
pp. 9-12
Author(s):  
Kaushik Basu
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Philosophical Approach ◽  
The Great Recession ◽  
The World ◽  
The Global Financial Crisis ◽  
Policy Failures

This brief chapter, written in the backdrop of the global financial crisis and the start of the Great Recession, lays out a broad philosophical approach to dealing with policy failures and the need for economists as a profession to introspect. It emphasizes the need for scepticism, in all our contemplation about the world, a philosophical approach that underlies a lot of what follow in this book.

scholarly journals Transnational representation of a gendered recession in corporate dramas

2020 ◽  
pp. 136754942091986
Author(s):  
Elena Oliete-Aldea
Keyword(s):  
Financial Crisis ◽  
Great Recession ◽  
Global Financial Crisis ◽  
Female Characters ◽  
Wall Street ◽  
The Great Recession ◽  
Lehman Brothers ◽  
The One ◽  
The Global Financial Crisis ◽  
Special Relevance

The cinematic depiction of the financial crisis has centred on the explanation of the causes and consequences of the global recessionary scenario in which gender acquires special relevance. My aim in this article is to carry out a hitherto unaddressed transnational analysis of corporate dramas. More specifically, I elicit the commonalities as well as local specificities that different Western cinematographies show when tackling gendered recessionary discourses on ‘mancession’ and ‘austerity’. Films such as The Last Days of Lehman Brothers (Samuels, 2009, BBC), Money Never Sleeps (Stone, 2010), The Company Men (J. Wells, 2010) and The Big Short (McKay, 2015) have, on the one hand, aligned with nostalgic and retro-sexist discourses by focusing on male suffering to confront the recession while relegating female characters as emotional companions of the male hero. On the other hand, the representation of female characters in these films has also put to the test the inconsistencies of neoliberal discourses when analysed from the perspective of genre. To illustrate the transnational dimension of the ‘narrated’ impact of the ‘Global Financial Crisis’ in different scenarios, I compare a US Wall Street film and a Spanish corporate drama of the Great Recession: Margin Call (J Chandor, 2011, USA) and The Tip of the Iceberg (La punta del iceberg, D Cánovas, 2016, Spain).

The much-exaggerated death of Keynesian economics

2020 ◽  
Vol 8 (1) ◽  
pp. 36-45
Author(s):  
Robert W. Dimand
Keyword(s):  
Financial Crisis ◽  
General Theory ◽  
Great Recession ◽  
Global Financial Crisis ◽  
The Great Recession ◽  
Keynesian Economics ◽  
Economic Instability ◽  
Price Flexibility ◽  
Fundamental Uncertainty ◽  
The Global Financial Crisis

The supposed death of Keynesian economics has long been debated. This paper revisits the four central Keynesian propositions identified by Tobin's 1977 paper, ‘How dead is Keynes?’, to argue, in the light of the global financial crisis and the Great Recession, that Keynesian economics remains alive and relevant as useful economics for understanding the economy in a world of fundamental uncertainty, with particular reference to chapter 19 of Keynes's General Theory concerning economic instability and wage and price flexibility.

scholarly journals War 2008 das neue 1929? Richtige und falsche Vergleiche zwischen der Großen Depression der 1930er Jahre und der Großen Rezession von 2008

2012 ◽  
Vol 13 (Supplement) ◽  
pp. 36-57 ◽  
Author(s):  
Albrecht Ritschl
Keyword(s):  
Great Depression ◽  
Great Recession ◽  
Global Financial Crisis ◽  
The Political ◽  
Final Phase ◽  
Main Hypothesis ◽  
The Great Recession ◽  
The Great Depression ◽  
Political Response ◽  
Fast Spreading

AbstractThe Great Recession of 2008 hit the international economy harder than any other peacetime recession since the Great Contraction after 1929. Soon enough, analogies with the Great Depression were presented, and conclusions were drawn regarding the political response to the slump. This paper is an attempt to sort out real and false analogies and to present conclusions for policy. Its main hypothesis is that the Great Recession resembles the final phase of the Great Contraction between 1931 and 1933, characterized by a fast spreading global financial crisis and the breakdown of the international Gold Standard. The same is also true of the political responses to the banking problems occurring in both crises. The analogy seems less robust for the initial phase of the Great Depression after 1929. The monetary policy response to the Great Recession largely seems to be informed by the monetary interpretation of the Great Depression, but less so by the lessons from the interwar financial crises. As in the Great Depression, policy appears to be on a learning curve, moving away from a mostly monetary response toward mitigating counterpart risk and minimizing interbank contagion.

The Great Recession and Electoral Politics, 2007–2016

2020 ◽  
pp. 32-62
Author(s):  
Timothy Hellwig ◽  
Yesola Kweon ◽  
Jack Vowles
Keyword(s):  
Great Recession ◽  
Global Financial Crisis ◽  
Cross Sectional ◽  
National Elections ◽  
Individual Level ◽  
The Great Recession ◽  
Political Outcomes ◽  
The Global Financial Crisis ◽  
The Comparative Study ◽  
The Impact

This chapter reviews the political and economic context of the global financial crisis (GFC). We first examine the origins and immediate effects of the GFC and the ‘Great Recession’ that it spawned. Ranging beyond the European focus of the research so far, we examine the impact of the crisis across the member countries of the OECD and the ways in which that variation is shaping the contexts of individual-level behaviour. We then examine patterns of electoral volatility and the changing nature of party systems before turning to consider the reasons why some governments were defeated and why others survived. Across these outcomes, analyses show that the impact of economic factors on political outcomes varied depending on their timing: before, during, or after the GFC. The chapter concludes by introducing our main sources of data: cross-sectional individual-level survey data from twenty-five national elections in OECD democracies from 2011 to 2016 sourced from Module 4 of the Comparative Study of Electoral Systems (CSES); macro-data for thirty-five OECD democracies from 1990 to 2016; and a pooled set of 113 post-election surveys from twenty-four OECD countries between 1996 and 2017.

scholarly journals Can We Rebuild the Economic Consensus?

2020 ◽  
Vol 1 (1) ◽  
Author(s):  
Linda Yueh
Keyword(s):  
Economic System ◽  
Great Depression ◽  
21St Century ◽  
Great Recession ◽  
Global Financial Crisis ◽  
The Great Recession ◽  
The Great Depression ◽  
The Global Financial Crisis ◽  
Great Crash ◽  
The 19Th Century

There are times in history when the consensus about our economic system breaks down. It happened after the Long Depression, also known as the Great Depression of the 19th century, and again in the 20th century around the Great Depression of 1929-1933, as well as after the Great Recession of 2008-2009 that followed the global financial crisis. The Covid-19 great crash, which carries the risk of a deep downturn, has led governments to take extraordinary measures in all areas of our lives. This has further fuelled the need to discuss how to rebuild the consensus about the most appropriate economic system for the 21st century as the great question of our time. This is a reflection piece invited for the Dahrendorf Symposium.

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