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Sample records for current economic crisis

  1. THE EVOLUTION OF ECONOMIC GLOBALIZATION DURING THE CURRENT GLOBAL CRISIS

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    Sabina Tuca

    2013-12-01

    Full Text Available The current economic crisis constitutes a serious test for the process of globalization. The purpose of this study is to analyze the influence of the current global crisis on economic globalization. To assess the impact of the current crisis on economic globalization, this paper examines the KOF Index of Globalization, before and during the crisis. The findings generally support the idea that economic globalization has been, in fact, weakened, after the onset of the current crisis. However, there is evidence that suggest that economic globalization has resumed the upward trend that characterized it before the crisis. Despite the fact the global crisis has shaken the process of globalization, we cannot talk of an end of globalization, as some predictions have indicated.

  2. USA between the Greatest Economic Crisis and Current Economic Crisis

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    Adina Liana Camarda

    2009-10-01

    Full Text Available American business system might be defined trough its decentralized character, a capitalist one, based on private property and free will. Federalauthorities’ intercession to economy exhibits throughout budgetary and monetary policies strategy. Meantime federal budget gets a constituent referring toinvestment in cereals. American economic legislation acknowledges government involvement in business practice control, American Government acting aseconomical increase supervisor.

  3. The Current Global Economic Crisis: Gleaning from History

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    Ettah B. Essien

    2011-08-01

    Full Text Available The study seeks to demonstrate how the knowledge of economic thought could help in explaining and managing the current global economic crisis. The current economic meltdown has affected nations of the world by differing degrees but adversely. Many analysts argue that the adoption of the Washington Consensusfinancial liberalization-gave vent to the crisis. The Washington Consensus discourages government involvement but promotes the operation of the market forces in economic and financial operations. However, the financial and economic devastation caused by the current economic crisis has prompted governments of various nations across the world to intervene through massive stimulus plans in order to rescue their economies from the meltdown situation. This suggests that the role of government in the economy is pertinent, and that the market forces are no substitutes but complement. This, therefore, suggests a fair balance of the government and the market forces in the operations of the economy.

  4. The Current Economic Crisis: Effects, Consequences, Measures and Solutions

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    Liana-Antonela BONTA (cas. MITEA

    2012-09-01

    Full Text Available The main objective of the present research project is the current economiccrisis, its effects, consequences but especially the measures and the solutions that we can find to resolve this situation. A key problem preoccupying developing countries today is the global economic crisis and how they can address it. The epicenter of the crisis is in the developed countries, especially the USA. But the developing countries that have no role in causing the crisis have suffered the most severe “collateral damage”. I will try to present the similarities with other periods of recession that we have crossed-over time. I will propose a few measures to remedy this situation, both long-term and short-term, referring of course to Romania and EU as well.

  5. Effects of the Current Economic Crisis on the Fiscal Variables in EU Countries

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    Iulian Viorel BRAŞOVEANU

    2011-02-01

    Full Text Available Our paper aims to capture the effects of the current economic and financial crisis on fiscal variables, the 27 EU Member States, based on macroeconomic developments until 2010 and projected for 2011. Starting from the economic recession, from the increase of unemployment and the relative stability of prices in the EU overall (macroeconomic developments that characterize the current crisis, we analyze the effects of those developments on the public revenues and expenditures, on the conventional deficit and public debt, which are macroeconomic variables that comprise the pentagon of economic macro stabilization.

  6. Sleeping with the enemy? On Hayek, constructivist thought, and the current economic crisis

    NARCIS (Netherlands)

    Kessler, Oliver

    The current economic crisis challenges the constitutive rules of global finance. Despite its various roots, dynamics, and consequences, the current reform debate is surprisingly limited in scope: it focuses on possible changes of Basle II and thus banking regulation only. This article suggests that

  7. Employment and employment conditions in the current economic crisis in Croatia

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    Goran Vukšić

    2014-06-01

    Full Text Available The goal of this research is to analyze developments in employment and employment characteristics during the current crisis in Croatia. The main findings can be summarized as follows: (1 The primary (aggregate mode of adjustment to the crisis was a decline in employment. There are, however, considerable differences in adjustment patterns across economic activities. (2 During the crisis, jobs were lost in the, more dynamic, private sector, while the number of jobs in the public sector (entities in state ownership slightly increased. (3 Economic activities with comparatively larger shares of women in employment have experienced fewer employment cuts and the aggregate employment share of women rose during the crisis, especially in activities with a larger share of public sector workers.(4 There has been a declining share of younger workers during the crisis, justifying policy actions to facilitate their employment. (5 Employees with comparatively lower educational attainment face severe challenges in the labor market, which is a longer term trend, not specific to the crisis period. There are indications that this group of employees enjoys a higher level of protection in the public sector. (6 Analysis also shows a rising significance of more flexible forms of employment: increasing shares of fixed term employees (during the last two observed years, and of part time workers. (7 Working hours do not exhibit any strong trends specific to the crisis, except for the diminishing number of overtime hours per worker.

  8. Changing attitudes in tourism - a possible way to win the battle with the current economic crisis

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    Albu, R. G.

    2010-12-01

    Full Text Available The current economic crisis should be viewed as an opportunity to make the changes needed for improving the tourism industry. These changes are necessary for the tourism industry and must be undertaken considering the necessity of transforming the economy into a Green Economy based on the sustainable development principles. This approach will ensure the sustainable development for the Tourism Industry. The purpose of the paper is to highlight the importance and the necessity of change in tourism, especially in the present context of economic and financial crisis.

  9. PUBLIC-PRIVATE PARTNERSHIPS - SOLUTION OR VICTIM OF THE CURRENT ECONOMIC CRISIS?

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    MINA Laura

    2009-05-01

    Full Text Available It is already a well known fact that public-private partnerships (PPPs are considered to be a solution for world wide governments facing insufficient public budgets. In the context of the current economic crisis, many voices promote public-private part

  10. Impacts of the current economic crisis on Southeast Asian labour markets

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    John Walsh

    2010-10-01

    Full Text Available The current economic crisis has caused most of the western world to fall into recession because of the credit crunch and the collapse of much of the under-regulated and over-confident banking industry. However, in most of Asia, especially developing Asia, the crisis has affected manufacturing and, hence, employment rather than the finance sectors, especially because the latter had already been restructured following the 1997 Asian Crisis. This paper considers the impact of the crisis on the range of labour markets across the region and assesses the ongoing relevance of the development model that is posited on low labour cost manufacturing aimed at assisting export industries. Impacts considered include migration flows of labour, the possibility of augmenting added value to existing production and the need to upgrade skills and competencies.

  11. EVOLUTION OF THE ROMANIAN RESIDENTIAL MARKET AFTER OUTBREAK OF THE CURRENT ECONOMIC AND FINANCIAL CRISIS

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    Şteliac Nela

    2013-04-01

    Full Text Available The residential market is one of the market sectors seriously affected by the current economic and financial crisis. This is mirrored both in the fall of real estate trading prices and in the decreased number of transactions and cutback of newly built constructions. This trend is applicable to the entire spectrum of the residential market (luxury properties and homes destined to average-income customers. Romania is no exception from this European and world-wide state of affairs. This paper aims to briefly outline the trends on the Romanian residential market in the aftermath of the current crisis.

  12. EVOLUTION OF THE ROMANIAN RESIDENTIAL MARKET AFTER OUTBREAK OF THE CURRENT ECONOMIC AND FINANCIAL CRISIS

    OpenAIRE

    Şteliac Nela

    2013-01-01

    The residential market is one of the market sectors seriously affected by the current economic and financial crisis. This is mirrored both in the fall of real estate trading prices and in the decreased number of transactions and cutback of newly built constructions. This trend is applicable to the entire spectrum of the residential market (luxury properties and homes destined to average-income customers). Romania is no exception from this European and world-wide state of affairs. This paper a...

  13. Economic crisis, world economy, economics and economic policy.

    OpenAIRE

    Sherstnev, Mikhail

    2011-01-01

    The paper analyzes the current discussions on the the state of economics with special focus on the interreletionships between key ideas of economic theories and real actions of economic policy in the course of the global economic crisis.

  14. Challenges for the Romanian Public Pensions System in the Current Economic and Financial Crisis

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    Anca Sava

    2010-12-01

    Full Text Available This paper aims to address the challenges for the Romanian public pensions system in the current economic and financial crisis. Firstly, are presented the defining indicators of the Romanian public pension system, such as number of pensioners, the number of taxpayers, the dependency ratio pensioners/contributors, public pension expenditure as a percentage of GDP, etc. The article illustrates the challenges regarding the sustainability of the pension system to the aging population and the main predictions of specialized financial institutions on public pension expenditure for the next period. It also presents the current abuses of public pension system and the measures taken by the Romanianauthorities to reform it.

  15. THE CURRENT FINANCIAL AND ECONOMIC CRISIS AS A NEW STAGE OF TRANSFORMATION OF THE GLOBAL ECONOMY

    OpenAIRE

    2014-01-01

    It is now widely accepted that modern economic science failed to foresee the financial and economic crisis of 2008-2009. However it is appear that there is still a lack of understanding fundamental causes of this crush and its aftermath. The available standard forecasting models and theories for the growth of the global economy are barely able to make correct forecasts in a crisis period and treat this crisis as a cyclical one. Moreover the nature of this crisis and its long-run effect on the...

  16. THE CURRENT FINANCIAL – ECONOMIC CRISIS – DEEP BREAK THAT CHALLENGES AND IMPOSES A NEW PARADIGM

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    Negucioiu Aurel

    2009-05-01

    Full Text Available The most important sign of the times we are living is certainly the global economic crisis. Far from being an illusion, even though we cannot deny the true that she generates not a few illusions; it is a reality that cannot be denied. It – the crisis – ex

  17. The Effects of the Current Global Economic and Financial Crisis on the EU Budget

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    Adina DORNEAN

    2013-10-01

    Full Text Available The aim of this paper is to analyze the main effects of the current global financial and economic crisis on the European Union budget and the measures that were taken in order to support the EU member states with the purpose of limiting and counteracting its effects. The focus will be on the budgetary expenditure and on the new Treaty on Stability, Coordination and Governance. For this purpose, we developed a regression model using the Least Square method with three significant variables: a dependent variable – EU budgetary expenditure and two independent variables – budgetary deficit and unemployment rate of member states. According to our analysis, the crisis determined the increase of the EU budgetary expenditure, which was due especially to the increase of the budgetary deficit and rising unemployment in the EU member states. Our findings suggested that the budgetary deficit and the unemployment rate had a highly significant influence on community expenditure growth during the crisis, while the GDP growth and the public debt did not have any significance for the community expenditure growth.

  18. ABOUT THE ECONOMIC CRISIS

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    Tartavulea Ramona Iulia

    2009-05-01

    Full Text Available The economic crisis that the global economy is facing nowadays has started with the financial crisis of the U.S financial system. We are talking about an unprecedented speculative boom at global level which has overcome the previous booms created by the d

  19. The effect of current global economic crisis on Danish companies and what we can learn from it

    DEFF Research Database (Denmark)

    Sørensen, Olav Jull; Turcan, Romeo V.

    economic crisis. Two theoretical lenses are identified to guide the understanding of entrepreneurs’ behaviours under crisis decision-making settings: turnaround strategy, and escalating commitment. To explore entrepreneurs’ behaviours under crisis decision-making settings, entrepreneurs of SMEs were...

  20. Impacts of the current economic crisis on Southeast Asian labour markets

    OpenAIRE

    John Walsh

    2010-01-01

    Southeast Asian labour markets are characterized by the diversity of the countries of which they are part and by the historical antecedents of colonialism that have largely given them their nature. Most have adopted a form of the export-oriented, import-substituting low labour cost manufacturing paradigm of economic development known as the East Asian Economic Model (EAEM). Having already passed through the Asian Financial Crisis of 1997 and its disruptive effects, workers in the region are f...

  1. ROMANIAN MOBILE TELECOMMUNICATIONS CLIENTS’ CONSUMPTION BEHAVIOUR WITHIN THE CURRENT ECONOMIC-FINANCIAL CRISIS

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    Meghisan Georgeta-Madalina

    2012-07-01

    Full Text Available The paper will analyze the consumption behaviour of the Orange mobile telephony company’s clients towards its services’ characteristics within the current economic financial crisis, taking into consideration the following elements: the low tariffs (for calls/ subscriptions/ other services, the quality of calls/ of sound, the network coverage within the territory, the company’s reputation, the negotiated offer, the quality and availability of the customer care service, the diversity of the auxiliary services, the range and prices of the mobile telephones, the costs that pay those who make calls towards this network, the loyalty programs, the usage of a last generation technology, the friends have subscriptions in the same network and the promotional offers. For a thorough research we will divide the operator’s clients into natural persons clients and legal persons clients, each group having its specificities. The data gathering method was the questionnaire sent by post office to all the Orange Romania branches (a total of 225 branches. We received a number of 64 responses, what means a responses rate of 28.4%, which were analyzed using the SPSS informatics program focusing on the correlation analysis and factor analysis. The main results emphasize the fact that the fight to attract clients becomes more and more powerful. The very competitive market leads to the growth of the importance of the price in choosing a provider. The operators’ short term gains from the clients that prefer low prices represent a long term risk of image. Choosing some services packages is sometimes very difficult due to the complexity of the offer. The clients expect the service to work, be simple and easy to use. They want to benefit from rapid and efficient assistance if errors occur and the operator respects the clauses of the contract. The results obtained through this study, allowed us to make an opinion on the perspective that the

  2. ECONOMIC CRISIS AND ECONOMIC DISPARITIES IN EUROPEAN UNION

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    Rodica CRUDU

    2015-09-01

    Full Text Available The impact of the economic and financial crisis is still being felt. It started as an acute crisis of the banking system, but then quickly affected the real economy, causing a substantial slump in business investment, household demand and output. The current economic crisis has affected almost all European countries but the countries of the European south and the former eastern socialist republics have suffered the most. The objective in this paper is to quantify economic disparities as expressed by several growth indicators, such as GDP per capita, employment/unemployment rates, labour productivity rates and use them to compare the economic performances before and after the crisis. EU took several measures to recover from the economic crisis. Nevertheless, its ability to adjust to widely diverse national and local contexts that have been impacted differently by the effects of the crisis, and to support the different patterns of economic growth that will result from it, is yet to be seen.

  3. Trust and management-to-employee communication in Slovenian companies: Some evidence from the current economic crisis

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    Maja Makovec Brenčič

    2011-01-01

    Full Text Available This paper analyzes the importance of trust and management-to-employee communication among top Slovenian employers from the Golden Thread Survey. The paper analyzes the changes and impact of the deteriorating external economic situation on (a company-employee relational trust, and on the (b perceived importance of “trust and long-term relationships with the company in the eyes of the customer” by respondent managers. Furthermore, our analysis also looks at the impact of management-to-employee communication on both trust perspectives. The results show a stable level of company-employee relational trust in the face of the current economic crisis, despite a high level of perceived organizational process changes and a sharp decline in financial performance. On the other hand, the perceived importance of “trust and long-term relationships with the company in the eyes of the customer” has increased substantially as the crisis has deepened, supporting our claim that relationships and the external relationship orientation gain importance in the time of crisis. There is also a strong link between the degree of open and frequent management-to-employee communication, and both perspectives of measured trust among top Slovenian employers.

  4. Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted

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    Felix TOTIR

    2011-01-01

    Full Text Available At the ideological level, the current crisis, as the others in history, has triggered an intellectual debate among several applicable ideas: ultra-liberal theory of the "invisible hand" of Adam Smith, Keynes's theory of state interventionism and even neo-Marxist theories. Globalization, with all its core components, generates a chain reaction when the phenomenon occurs, either positive or negative. The origin of the current financial crisis should be sought in the effects of massive cross-border capital flows and the use of more complex derivatives. Reaching the saturation of the three engines of economic growth worldwide in the period after the collapse of the socialist bloc is another important cause of all the failures that currently exist worldwide. Acquisition of toxic assets from bank balance sheets, their recapitalization and takeover by the state, but also the reinforcement of the prudential supervision of capitalization, liquidity and risk management system, improved transparency and speed the process of evaluating or reinforcing authorities' response to risk, can be considered short or long term anti-crisis measures, as appropriate.

  5. Did Economic Inequality Cause the Economic Crisis

    National Research Council Canada - National Science Library

    Danilo Sukovic

    2014-01-01

    ... that occurred during the last three decades. The global economic crisis that emerged in 2008 gave a new impetus to this research because numerous scientific studies appeared in which inequalities were given as one of the key causes...

  6. Considerations on Preventing and Combating the Illegal Trafficking of Minors under the Current Economic and Financial Crisis

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    Tache BOCĂNIALĂ

    2011-08-01

    Full Text Available This work highlights the economic crisis problem that affects most states of the world, the crime problem that the society is facing, namely the human trafficking and in particular the child trafficking. This theme is particularly important in the context of amplifying the organized crime, it increasingly concerns the modern society and implicitly the specialists engaged in research of the phenomenon and for preventing and combating it. This paper is an analysis of the current financial crisis impact on human trafficking and the level of response that the society is ready to give through the regulatory framework, specialized institutions and their staff. The analysis concluded that Romania, as a result of its alignment with the acquis communautaire, is now a modern legislative and institutional system in preventing and combating trafficking in human beings. However, there is a need for legislative amendments in order to have a greater effectiveness in prevention and control measures, which represents a milestone in addressing other related issues. This study is also a warning for specialists to deepen their research for improving the prevention and combating trafficking in human beings which tends to grow.

  7. Singapore in Its Worst Recession for Years. The Effects of the Current Economic Crisis on the City-State’s Economy

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    Rolf Jordan

    2009-01-01

    Full Text Available Due to the current economic downturn, Singapore has experienced one of its most severe recessions since independence. The financial crisis, which caused a fall in prices at most of the world’s leading stock exchanges and a sharp decline in industrial production, has also had a negative impact on the city-state’s export-dependent economy. The analysis outlines the economic downturn and the decline of Singapore’s export economy since the beginning of the crisis in late 2008. Central to the analysis are questions regarding the social consequences of the current economic crisis and the amount of losses Singapore’s state-owned holding companies, Temasek and GIC, experienced when some of the world’s biggest investment banks, such as Merrill Lynch, went into bankruptcy.

  8. How Should the Financial Crisis Change How We Teach Economics?

    Science.gov (United States)

    Shiller, Robert J.

    2010-01-01

    Student dissatisfaction with teaching of economics--particularly with macroeconomics--during the current financial crisis mirrors dissatisfaction that was expressed during the last big crisis, the Great Depression. Then and now, a good number of students have felt that their lectures bear little relation to the economic crisis raging outside the…

  9. How Should the Financial Crisis Change How We Teach Economics?

    Science.gov (United States)

    Shiller, Robert J.

    2010-01-01

    Student dissatisfaction with teaching of economics--particularly with macroeconomics--during the current financial crisis mirrors dissatisfaction that was expressed during the last big crisis, the Great Depression. Then and now, a good number of students have felt that their lectures bear little relation to the economic crisis raging outside the…

  10. Heterogeneity in Firm Performance During Economic Crisis

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    Sergio Bruni

    2014-06-01

    Full Text Available What happens to firms during periods of deep economic crisis? Did different types of firms perform differently under the economic crisis? With the aid of a rich database and focusing on the literature regarding the growth of firms, this paper investigates the relative profitability performance of Italian firms during the current economic crisis, exploring those factors, which help certain firms to do relatively better even in the slowdown period. Some preliminary results show that the Italian firms that are relatively young in age, with relatively better current liquidity and more focused on domestic market have performed better than other firms. Furthermore, firms operating in high-tech and in highly concentrated sectors have enjoyed a better performance in this period.

  11. Global energy and environmental security in the current global economic crisis

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    Kosov Yuri

    2010-03-01

    Full Text Available This article considers the problems of the environmental impact of energy. Further reduction of this impact on the global environment can be achieved two ways. The short-term one implies the increase in energy efficiency. In the next 15—20 years, the increase in efficiency should become a priority of the energy policy of all states. The long-term one is based on the gradual expansion of renewable energy. This method is aimed to avoid further economic and energy crises. At the same time, it has an important environmental aspect. Experts claim that the new area of global energy should be less costly than the traditional ones.

  12. Worldwide spreading of economic crisis

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    Garas, Antonios; Rozenblat, Celine; Tomassini, Marco; Havlin, Shlomo

    2010-01-01

    We model the spreading of a crisis by constructing a global economic network and applying the Susceptible-Infected-Recovered (SIR) epidemic model with a variable probability of infection. The probability of infection depends on the strength of economic relations between the pair of countries, and the strength of the target country. It is expected that a crisis which originates in a large country, such as the USA, has the potential to spread globally, like the recent crisis. Surprisingly we show that also countries with much lower GDP, such as Belgium, are able to initiate a global crisis. Using the {\\it k}-shell decomposition method to quantify the spreading power (of a node), we obtain a measure of ``centrality'' as a spreader of each country in the economic network. We thus rank the different countries according to the shell they belong to, and find the 12 most central countries. These countries are the most likely to spread a crisis globally. Of these 12 only six are large economies, while the other six ar...

  13. The Economic Crisis and Public Health

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    Victor Sidel

    2009-06-01

    Full Text Available The current global economic crisis seriously threatens the health of the public. Challenges include increases in malnutrition; homelessness and inadequate housing; unemployment; substance abuse, depression, and other mental health problems; mortality; child health problems; violence; environmental and occupational health problems; and social injustice and violation of human rights; as well as decreased availability, accessibility, and affordability of quality medical and dental care. Health professionals can respond by promoting surveillance and documentation of human needs, reassessing public health priorities, educating the public and policymakers about health problems worsened by the economic crisis, advocating for sound policies and programs to address these problems, and directly providing necessary programs and services.

  14. Economizing strategies during an economic crisis

    NARCIS (Netherlands)

    Bronner, F.; Hoog, de R.

    2012-01-01

    Recently, the consumer was hit hard by the consequences of the global economic crisis, which still has effects on tourists’ spending. These effects are investigated using a general framework linking crises/disasters to individual tourist behavior. In 2010, data were collected in the Netherlands abou

  15. EU budget reform in the context of the current economic crisis

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    Ionela POPA

    2012-10-01

    Full Text Available The European Union regarded as an economic reenhancement force in Europe and in the world must fund the needs of 500 million citizens. To do that, it should possess an innovative budget adjusted to the new facts of globalization meant to meet present challenges and create various opportunities for the future.In order to improve budgetary procedures, the need to reform the community bugdet has emerged, namely to change the way it is designed and spent. The manner of setting and distributing the community budget has been changed several times whenever the context in member states has demanded. Thus, European institutions concluded in 1988 interinstitutional agreements which have been covering budgetary process and budget allocation ever since. Agreements are concluded for several years and bear the name of “financial prospects”. Other two agreements have been made (during 2007-2013 and, respectively, 2014- 2020 in compliance with Delors I and Delors II Packages.The present paper focuses on approaching the progress of budgetary indicators in the context of the multiannual financial framework where the European Union budget is set.

  16. Why the Economic Crisis Was Not Anticipated

    Science.gov (United States)

    Posner, Richard A.

    2009-01-01

    An article in the October 11 "New York Times" attributed the almost universal failure to anticipate the current economic crisis to "insanity"--more precisely, to a psychological inability to give proper weight to past events, so that if there is prosperity today people assume that it will last forever, even though they know that in the past booms…

  17. ECONOMIC CRISIS SUSTAINS BLACK MARKET

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    Dicoi Daniel -Ioan

    2012-12-01

    Full Text Available The purpose of this research is to bring out the fact that during the periods of economic crisis, the black market finds a warm place to develop and even to diversify the ways of expressing. Based on some data of the National Institute of Statistics and the Organization for Economic Co-operation and Development (OECD1 , I’m trying to prove the fact that during the last two years while the world economic crisis has occurred, the black market has been increasing and there have been new forms of expressing this phenomenon. Although there are some positive ways of this phenomenon, on the whole, the increasing of the black market percent of GDP represents a wound within a healthy economy, which if it cannot be stopped at least to be reduced. This work intends to make radiography of the present economic society, a period of economic crisis, during which the black market has found a warm place to express and extend, in most of the countries, including the developed ones, this phenomenon has reached alarming limits.

  18. An Appraisal on the Earlier Euro Adoption by the New Member States in the Frame of the Current Global Economic and Financial Crisis

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    Floarea Iordache

    2010-06-01

    Full Text Available The pathway of the new member states towards the euro area was stopped, but not modified by the current world economic crisis. Their inflation declined but the fiscal status suffered. On the verge of thefinancial crisis, the European Central Bank overruled the Central and Eastern European member states’ intentions for an earlier adoption of the euro, requiring compliance with the Maastricht criteria. The objective of this paper is to analyze the main proposed solutions and to draw attention on the most suitable ones in keeping with the particular features of these countries. Our conclusion is that fast results on the euro adoption will definitely depend on the fiscal consolidation, the soundness of global economic rehabilitation, the capital availability, and the domestic policies. The nature of the approached problems and the authors’ experience recommend this study, both for researchers and practitioners.

  19. REDISCOVERING MISES-HAYEK MONETARY AND BUSINESS CYCLE THEORY IN LIGHT OF THE CURRENT CRISIS: CREDIT EXPANSION AS A SOURCE OF ECONOMIC BOOM AND BUST

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    Marcin Mrowiec

    2013-10-01

    Full Text Available The article starts with a brief description of Mises’ monetary theory, with emphasis on the Misesian differentiation of two kinds of credit: commodity and circulation credit, and with the description of the impact of circulation credit expansion on the business cycle. Further on it is described how Mises’ insights constituted the kernel of Austrian Business Cycle Theory, and how the same observations on the nature of credit constituted the kernel of the Chicago Plan (though Mises’ views on the nature of credit led him to different conculsions than it led the authors of the Chicago Plan, and how this plan is being “rediscovered” now. The following sections deal with observations of one of the preeminent current macroeconomic researches, Mr. Claudio Borio, on the elasticity of credit as the source of the current crisis, and on the importance of the financial cycle in analysing the current economic crisis. The author of this text demonstrates that Austrian Business Cycle Theory gave the same answer regarding the sources of economic crises that now modern macroeconomic theory seems to be approaching, and that the postulates for successful financial cycle modeling are already included in the ABCT. Finally, some observations on the current crisis, as well as proposals of avenues of further research are proposed.

  20. General Aspects of the Economical Crisis

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    Gina Ioan

    2011-02-01

    Full Text Available According to the economic theories, crises does not follow a general model, each of them,presenting unique aspects, representing actually an accident, generated by specific factors, at a certainsocio-economic and political situation. Like a classification of the crisis we can specify: the crisis ofliquidity in the banking sector, external balance of payments crisis, currency crisis, external debtcrisis and the financial crisis. After we have analyze the causes of the major crisis in XIX-th and XXthcenturies, we broach the principal causes of the actual world crisis. The implications of the crisis inEst-Europe and in Romania are analyzed from the point of view of these economies vulnerability anda series of mistakes taken in the governance acts. The theory of State intervention in the adjustment ofeconomic mechanisms, due to J.M. Keynes, is bring like an argument for exceed the negative effectsof the crisis.

  1. GREEK ECONOMIC CRISIS ON MACROECONOMIC INDICATORS

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    GĂBAN LUCIAN

    2016-04-01

    Full Text Available This paper aims to examine briefly some elements of macroeconomic aspects that could explain - at least partly - a number of causes of the current economic crisis in Greece. Using data provided by competent bodies, is intended as a more accurate outlining the differences between Greece and the other countries of the European Union member show widespread Greek State as an outlier among the countries that make up the current "U.E. 28 ". The analysis is based on three indicators relevant to the case – unemployment, government debt and nonperforming loans.

  2. The Economic Crisis and Several Effects on Global Economy

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    Florina BRAN

    2011-01-01

    Full Text Available The main mechanism of profit making is not production according to the outcomes of several analyses of the current economic crisis. This mechanism is circulation and exchange. Starting with this observation the paper goes through a number of aspects regarding the relation between crisis and economy at global level. These aspects consist in the recent financial turmoil; who pays for the crisis; stabilizing the financial sector; recession and the financial crisis; the internationalization of the crisis; commodities and the ecological crisis; an end to neo-liberalism; what should socialists demand. We notice and comment on how important current development in the wake of the banking crisis is for the transmission of that crisis to the rest of the economy and its interaction with the more general economic crisis now emerging. It was concluded that there are good chances that the current economic order to be broken. The future shape of the order will depend more on vision of managers than on the influence of the so called objective factors.

  3. Romanian Public Expenditures Policy during the Economic Crisis

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    Anca-Ştefania SAVA

    2011-03-01

    Full Text Available The aim of this paper is to discuss the Romanian public expenditures policy promoted in the context of the economic and financial crisis. Firstly, we present a brief introduction on the effects of public expenditures policy to economic growth and the role of automatic stabilizers in times of economic recessions. Secondly, the paper analyzes the evolution of current and capital public expenditures before and during the economic and financial crisis, according to which unproductive spending prevailed, in detriment of productive investments which can stimulate the economic recovery.

  4. The new energy crisis : Climate, Economics and Geopolitics

    OpenAIRE

    Chevalier, Jean-Marie

    2009-01-01

    Global warming reveals that the current evolution of the world consumption is on an unsustainable path. Humankind's insatiable appetite for energy has sparked a new crisis. In a world where climate change has become a proven reality, there lies a deep uncertainty about the physical, economic and social impacts of this phenomenon. The New Energy Crisis examines the impact of climate change issues into energy economics and geopolitics. Climate is a public resource that needs to be universally m...

  5. Neoliberalism, trade imbalances, and economic policy in the Eurozone crisis

    Directory of Open Access Journals (Sweden)

    Engelbert Stockhammer

    2016-12-01

    Full Text Available This paper analyzes the causes of the Eurozone crisis. In doing so, it carefully surveys authors from different economic schools of thought. The paper discusses competing explanations for European current account imbalances. Remarkably, opposing views on the relative importance of cost developments and demand developments in explaining current account imbalances can be found in both heterodox and orthodox economics. Regarding the assessment of fiscal and monetary policy there is a clearer polarisation, with heterodox analysis regarding austerity as unhelpful and most of orthodox economics endorsing it. We advocate a post-Keynesian view, which holds that current account imbalances are not a fundamental cause of the sovereign debt crisis. Rather, the economic policy architecture of the Eurozone, which aims at restricting the role of fiscal and monetary policy, is the key to understanding the crisis in Europe.

  6. IMPACT OF ECONOMIC CRISIS ON FDI

    Directory of Open Access Journals (Sweden)

    Elena V. CHIRILA DONCIU

    2014-04-01

    Full Text Available The economic crisis has had a severe impact on the economy worldwide. The investment activity has strongly felt the crisis and caused dramatic changes in the hierarchy of large investors. The financial system did not have availability for credits and funding from companies' own resources was extremely limited in terms of reducing profits. The purpose of the paper is the analysis of global foreign direct investment under the effect of the largest financial and economic crisis. The research results show a dramatic decline in foreign direct investments flows perceived and generated in 2009, and the fact that since 2010 there has been an easy comeback.

  7. Crisis and Dialectics of some Fundamental Economic Relations

    Directory of Open Access Journals (Sweden)

    Ion Pohoata

    2009-06-01

    Full Text Available The phenomenology of crisis is one of the most complex tasks that economics undertook and undertakes to discern. Crisis is not a new phenomenon. As a cycle sequence, either long or short, it entered the "normality" of the economic dynamics. The big ones, like the one in '29-'33 and the current one, escape this register. Their width, development and consequences make them special phenomena. In explaining them, thousands of pages were consumed. The fact they reoccur raises tormenting questions. The attempts to answer these questions followed either a technical line of one supported by the "human nature". As we use the first variant, we shall try to tackle this topical issue called crisis from the perspective of the correlations existing between economic variables. If when operating normally economy may be in extremis associated to a Newtonian mechanics, crisis changes things.

  8. The Global Economic Crisis: Spain’s Housing Bubble

    Directory of Open Access Journals (Sweden)

    Shelly DALY

    2015-12-01

    Full Text Available Housing bubbles have been discussed and closely linked to current world economics since 2008. This paper takes a case study approach to the situation in Spain in terms of its economy, the housing market and the ongoing economic crisis. Unique aspects of the Spanish culture and historical idiosyncrasies are included for the reader to compare and contrast various international settings and economic machinations. Micro and macro factors are incorporated in order to allow the reader to evaluate the complexity of the ongoing crisis, options and potential alternatives. The unique burden the Spanish housing bubble places on young adults, those most dramatically affected by Spanish unemployment levels, is also broached.

  9. NEGOTIATING IN A CONTEXT OF ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Francisco J. Medina

    2014-05-01

    Full Text Available The research on negotiation in the last 50 years has only considered that negotiation occurs in a stable economic environment. This paper analyses negotiation in changing contexts with a focus on two aspects: first, we examine the psychological processes affecting negotiation in a changing environment, whether one of prosperity or economic crisis; second, we study collective bargaining, focusing on the role of union representatives in a context of economic crisis. The first line of research is highly experimental; the second is applied and based on field studies using interviews and focus groups.

  10. In the wake of the economic crisis

    DEFF Research Database (Denmark)

    Komp, Katrin; Starke, Peter; van Hooren, Franca

    The economic crisis of 2008 is a global phenomenon with far-ranging impact. Its effects reach beyond the economic sphere, impacting the lives of individuals. When confronted with job loss and financial hardship, people look for new income sources, change their world views and attitudes, and remod...

  11. Economic Inequality and Economic Crisis: A Challenge for Social Workers

    Science.gov (United States)

    Goldberg, Gertrude Schaffner

    2012-01-01

    To social workers, extreme economic inequality is primarily a violation of social justice, but this article shows how growing economic inequality since the mid-1970s was not only unjust, but also dysfunctional to the U.S. economy and linked to the recent economic crisis with its devastating effects, particularly on the social work clientele. The…

  12. Economic Inequality and Economic Crisis: A Challenge for Social Workers

    Science.gov (United States)

    Goldberg, Gertrude Schaffner

    2012-01-01

    To social workers, extreme economic inequality is primarily a violation of social justice, but this article shows how growing economic inequality since the mid-1970s was not only unjust, but also dysfunctional to the U.S. economy and linked to the recent economic crisis with its devastating effects, particularly on the social work clientele. The…

  13. The Economic Crisis and Sustainable Development

    DEFF Research Database (Denmark)

    Lund, Henrik; Hvelplund, Frede

    This paper presents Concrete Institutional Economics as an economic paradigm to understand how the wish for sustainable energy in times of economic crisis can be used to generate jobs as well as economic growth. In most countries, including European countries, the USA and China, the implementation...... of sustainable energy solutions involves the replacement of imported fossil fuels by substantial investments in energy conservation and renewable energy. In such situation, it becomes increasingly essential to develop economic thinking and economic models that can analyse the concrete institutions in which...

  14. BEHAVIORAL INPUTS TO THE THEORETICAL APPROACH OF THE ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Sinziana BALTATESCU

    2015-09-01

    Full Text Available The current economic and financial crisis gave room for the theoretical debates to reemerge. The economic reality challenged the mainstream neoclassical approach leaving the opportunity for the Austrian School, Post Keynesianism or Institutionalists to bring in front theories that seem to better explain the economic crisis and thus, leaving space for more efficient economic policies to result. In this context, the main assumptions of the mainstream theoretical approach are challenged and reevaluated, behavioral economics is one of the main challengers. Without developing in an integrated school of thought yet, behavioral economics brings new elements within the framework of economic thinking. How are the main theoretical approaches integrating these new elements and whether this process is going to narrow the theory or enrich it to be more comprehensive are questions to which this paper tries to answer, or, at least, to leave room for an answer.

  15. Analysing English metaphors of the economic crisis

    Directory of Open Access Journals (Sweden)

    Filippo-Enrico Cardini

    2014-07-01

    Full Text Available Abstract - The present article reports the findings of an investigation into the metaphorical expressions adopted by English-language magazines to describe the latest economic/financial crisis. The corpus used for the investigation was about 100,000 words large, with texts taken from The Economist and from The International Economy. All the articles selected from these two magazines were published between Fall 2008 and Winter 2012. The main aim of the inquiry was to offer a more detailed and comprehensive classification of economic-crisis-metaphors than those proposed in previous research. In this respect, a total number of forty different types of such metaphors was identified. Alongside the theoretical classification, a quantitative analysis of the data was also carried out in order to find out which kinds of metaphorical expression are used most frequently. Results suggest that the economic/financial crisis is predominantly conceptualized in terms of something negative about a human being, about an object, and about a motion. In particular, viewing a state of economic/financial crisis as a damaged or destroyed object appears to be the most widely adopted metaphor. Results also suggest that different economics magazines can vary significantly in the amount of metaphorical language used.Keywords: metaphor, economic crisis, semantics, pragmatics, journalistic styles.  Sommario – Questo articolo riporta i risultati di una ricerca sulle metafore adottate da riviste in lingua inglese per descrivere la recente crisi economica e finanziaria. Il corpus utilizzato per l’indagine è stato di circa 100.000 parole, con testi reperiti dal The Economist e dal The International Economy. Tutti gli articoli selezionati da queste due riviste sono stati pubblicati tra l’autunno 2008 e l’inverno 2012. Lo scopo principale dell’indagine è stato quello di fornire una classificazione delle metafore della crisi economica più dettagliata ed esauriente di

  16. Competitiveness in the global economic crisis

    Directory of Open Access Journals (Sweden)

    Gheorghe Popescu

    2009-05-01

    Full Text Available The first challenge is to analyze the concept of "competitiveness" given the fact that in the centre of the great economic analystes' concerns lays from some time the phenomenon of competitiveness, along with the generation of competitive advantage at the organization level and, moreover, at country level. The economic science will have to be rethought, meaning that competitiveness will have to adapt to the new prospects launched today by the global economic crisis.

  17. Risk Factors of Young Graduates in the Competitive E.U. Labour Market at the End of the Current Economic Crisis

    Directory of Open Access Journals (Sweden)

    Kacerova Eliska

    2016-09-01

    Full Text Available Modern development trends in the labour market have been an increasingly important political and economic issue not only domestically but also on the European level. It proves the fact that in The Europe 2020 strategy, one of the main five points is the aim to increase the employment rate of the population (age: 20–64 from the current 69% to at least 75%. Various risk groups of job candidates emerge among the unemployed. The economic crisis in 2007 made the situation in the labour markets worse. The demand for labour decreased while the number of candidates increased. In recent years, fresh graduates under the age of 25 have been regarded as a high risk group sometimes nicknamed “the lost generation” or Generation Y. This generation is well accustomed to modern technologies which they use for their own benefit and they are willing and able to work from anywhere. On the contrary, those over the age of 35, who are sometimes referred to as Generation X, have different attitudes and requirements for the labour market. Despite the increasing level of education among young people, their unemployment has been worsening since the economic crisis began. The aim of this article was to ascertain how future university graduates (491 final-year students from 5 faculties at Tomas Bata University in Zlín, Czech Republic perceive individual risk factors influencing the success of today’s graduate of Generation Y in the competitive labour market. The target group, future university graduates, evaluated 13 risk areas on a five-point scale. These 13 risk areas were identified based on primary research among 1.059 employers in the Czech Republic, which is a part of a complete two-year research project IGA/FaME/2013/030. This article focuses on only two areas which closely analysed the perception of graduates as drifters, and their demands for high starting salaries. These two risk areas were mentioned by employers as the areas with the highest risk and

  18. The Economic Crisis, A Vector of Corporate Governance`s Change

    OpenAIRE

    Mihaela DUMITRASCU

    2011-01-01

    The current global economic crisis is a nowadays problem, settled since 2007, the United States of America and extending worldwide since anul2008. This things has got the economy going unprepared. Therefore solutions must be found embedded in the current international economic context, especially in terms of financial accounting regulations. The literature on the global economic crisis field is not yet very clear developed. We are in the middle of a major financial crisis with global implicat...

  19. Southern european model welfare state and economic crisis

    Directory of Open Access Journals (Sweden)

    Mpoutsiou S.

    2013-10-01

    Full Text Available The current economic crisis has affected the exercise of social policy and has shrunk welfare states in southern Europe. The welfare state, a structure that is a pillar and constant goal of Greek ideology and culture seems to accept strong tremors that threaten the social cohesion of Greek society. This literature review presents the characteristics of the applied social policy and the different models of welfare states, focusing on South model welfare state. Additionally presented benefits of the welfare state such as pension and insurance system and the degree of their contribution to the economic crisis in Greece in recent years.

  20. Geroscience: Addressing the mismatch between its exciting research opportunities, its economic imperative and its current funding crisis.

    Science.gov (United States)

    Martin, George M

    2016-11-19

    There is at present a huge disconnect between levels of funding for basic research on fundamental mechanisms of biological aging and, given demographic projections, the anticipated enormous social and economic impacts of a litany of chronic diseases for which aging is by far the major risk factor: One valuable approach, recently instigated by Felipe Sierra & colleagues at the US National Institute on Aging, is the development of a Geroscience Interest Group among virtually all of the NIH institutes. A complementary approach would be to seek major escalations of private funding. The American Federation for Aging Research, the Paul Glenn Foundation and the Ellison Medical Foundation pioneered efforts by the private sector to provide substantial supplements to public sources of funding. It is time for our community to organize efforts towards the enhancements of such crucial contributions, especially in support of the emerging generation of young investigators, many of whom are leaving our ranks to seek alternative employment. To do so, we must provide potential donors with strong economic, humanitarian and scientific rationales. An initial approach to such efforts is briefly outlined in this manuscript as a basis for wider discussions within our community.

  1. Economic voting under the economic crisis: Evidence from Greece

    NARCIS (Netherlands)

    Nezi, R.

    2012-01-01

    Having joined the Eurozone in 2001, Greece experienced a short period of economic euphoria before confronting a major financial crisis some nine years later. In the period between joining the Eurozone and accepting the joint IMF/EU bailout package, the economic situation facing Greek voters changed

  2. The Crisis of Economic Theory in the Middle of the Economic Crisis

    Directory of Open Access Journals (Sweden)

    Silvia MĂRGINEAN

    2011-05-01

    Full Text Available Keynesian economics has lost much of its effectiveness as a paradigm of world capitalism as a whole, or as a paradigm of individual developed capitalist economies. The decline of the United States as a hegemonic power capable of imposing its will over others has seen to the erosion of the relevance of the Keynesian doctrine on the global scale. The Philips curve and what Hicks calls the “social” pressure on wages have severely restricted the field of Keynesian policy at home – even through the ruling classes continue to use Keynesian theory as their paradigm. The most important lesson from Keynes work may be that the macroeconomist should start from the important problems of the day and should face the following questions: 1 How can we to understand what are is happening right now? 2 What can be done about it? What is the best policy to follow? 3 Do recent events force us to modify what is today widely accepted economic theory? If so, what is wrong and how might we go about arriving at a more satisfying theory? The most important economic problem of today is current financial crisis that started in the United States. What might we learn from Keynesian theory about it? The current situation is almost the opposite of the one that Keynes dealt with in the “General Theory”. Now day’s economics lacks an anchored understanding of the nature of the reality that economics is supposed to illuminate. Instability of leverage, connectivity, and potential instability of the price level have all been neglected in stable – with – fractions macro theory. Technical innovations will not bring real progress as long as “stability – with – fractions” remains the ruling paradigm. Meanwhile, governments are not prepared to face another crisis.

  3. The Impact of Economic Crisis on Happiness

    Science.gov (United States)

    Gudmundsdottir, Dora Gudrun

    2013-01-01

    There is a common belief that economic crisis will lead to a decrease in subjective wellbeing. Previous studies indicate that income is correlated with happiness and unemployment with unhappiness. The relationship between increased income and happiness is well documented while the impact of decreased income has been less explored. The aim of this…

  4. The Impact of Economic Crisis on Happiness

    Science.gov (United States)

    Gudmundsdottir, Dora Gudrun

    2013-01-01

    There is a common belief that economic crisis will lead to a decrease in subjective wellbeing. Previous studies indicate that income is correlated with happiness and unemployment with unhappiness. The relationship between increased income and happiness is well documented while the impact of decreased income has been less explored. The aim of this…

  5. Responding to the global economic crisis: inclusive social work practice.

    Science.gov (United States)

    Strier, Ron

    2013-10-01

    The present global economic crisis raises new concerns for social workers. One of its most visible results is the further socioeconomic decline and marginalization of excluded populations. This article suggests that the current circumstances require a much more engaged, egalitarian, and reflexive practice-a practice, based on social rights, that matches the magnitude of the crisis and its negative impact on traditional social work constituencies. Consequently, the article suggests the concept of inclusive social work practice (ISWP), a conceptual framework whose main principles respond to four processes of social exclusion closely related to the present global crisis: extreme social isolation, growing dependency, multiple deprivation, and internalized oppression. The author describes the impact of the global crisis on patterns of social exclusion and presents the methodological foundations of the ISWP framework.

  6. Marxist logic tells origin of current crisis

    Institute of Scientific and Technical Information of China (English)

    赵磊

    2009-01-01

    Since the Great Depression in 1929,economists have continued soul-searching for the lessons to be drawn from the crisis.But mainstream reflections have been misguided,conf ined to stereotypical targets of blame such as "lax regulation," "policy mistakes" and "underestimation of risks." Regretfully,understanding of the root cause of the current sub-prime crisis is as superficial as before.The reasons for both crises seem to be polar opposites:the Great Depression of 1929 was triggered by insufficient effective demand,while the ongoing sub-prime mortgage crisis was triggered by "excess" effective demand.In fact,however,the classic crisis and the modern crisis in the capitalist world essentially originate from the same thing:crisis of overproduction.The shift from classic crisis into modern crisis only kicks the ball from supply side to demand side.Given the intrinsic contradictions of the market economy that give rise to the crisis,the analytical framework of "risk and regulation" proves difficult to help us understand its nature.For this reason,we must turn to a Marxist questioning of the crisis.

  7. In the wake of the economic crisis

    DEFF Research Database (Denmark)

    Komp, Katrin; Starke, Peter; van Hooren, Franca

    The economic crisis of 2008 is a global phenomenon with far-ranging impact. Its effects reach beyond the economic sphere, impacting the lives of individuals. When confronted with job loss and financial hardship, people look for new income sources, change their world views and attitudes, and remodel......, they take different approaches that reflect the country-specific history and welfare state institutions. This working paper gives an overview of social change and welfare state reform in the wake of the economic crisis. For this purpose, it presents discussions and findings from two classes that were taught...... at universities in Germany. The material includes the outcomes of a grounded theory study that was conducted in the framework of one of these classes, summaries from various essays that students wrote for the classes, and from a book that was used as teaching material. The arguments brought forth in the working...

  8. Tourist Industry Recovers from World Economic Crisis

    Directory of Open Access Journals (Sweden)

    Anca Gabriela Turtureanu

    2012-02-01

    Full Text Available Tourism has become an important economic engine onthe global point of view , but isextremely localized. Due to geographical distribution and nature of labor intensive activities intourism offers a wide range of employment opportunities for poor and vulnerable groups indeveloping countries, especially but not exclusively, in rural and remote areas. Tourism has sufferedalot during the global economic crisis, there was adecline of 4% of international tourist arrivals in2009, and revenues from international tourism fellby 6% by 2009. To a new report "Euro barometer"survey on the attitudes of Europeans towards tourism emphasized that the tourism industry has passedthe economic crisis confirmed by the indicators. Motivations of travel for 2011 have been totraditional tourist destinations (58%, while 28% wanted to discover new destinations.

  9. CRISIS FOCUS Ensuring Economic Health

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    Though China’s economy is breathing a sigh of relief after several nervous months,it is still not time to sit back and relax.Much needs to be done to ensure the sustainability of growth momentum.Guo Tianyong,Director of the Research Center of the China Banking Industry of the Central University of Finance and Economics,discussed this issue in an article recently published in the Shanghai Securities Journal.Edited excerpts follow:

  10. The 1994 Economic Crisis in Turkey

    Science.gov (United States)

    2002-06-01

    debt financing not only blurs the correlation between inflation and public deficits , but also masks loss of reserves which has a central role in...the increasing public deficit and high inflation rate, remained unresolved and these problems finally led to another economic crisis in 2001...process with the capital account3 liberalization, the Turkish economy was in an unfavorable condition with a high public deficit and inflation rate

  11. Is the Economic Crisis Challenging the Prevailing Gender Regime?

    DEFF Research Database (Denmark)

    Leschke, Janine; Jepsen, Maria

    2014-01-01

    This paper addresses the question of whether the current economic and financial crisis is challenging the prevailing gender-equality model in four European countries: Denmark, Germany, Slovakia, and the United Kingdom. After situating the countries in relation to the underlying gender regime...... and analysing the corresponding position of women and men in paid and unpaid work, the paper contains an in-depth discussion of the short- and medium-term policy responses to the crisis. Our analysis shows that independent of the prevailing gender regime, scant public attention has been directed to gender...

  12. Competitiveness of Slovakia and the Economic Crisis

    Directory of Open Access Journals (Sweden)

    Silvia Ručinská

    2009-12-01

    Full Text Available The impacts of financial crisis in the beginning of this year have also been felt by the Slovak economy. It could be argued that the competitiveness of Slovakia is under the influence of the world economic crisis, as it is a small, open and pro-export oriented economy, hence influenced by foreign markets. Because of limited extent of domestic market, the foreign demand plays a key role in economic growth, a role that depends on the development of international economic affairs. As the biggest Slovak trade partners are in a deep recession, it induces a slowdown in the domestic economy as well. Financial problems of numerous banks in these countries, in combination with the growing lack of trust in the performance of the economies have resulted in a decline in demand and consumption, which had its effects on Slovakia as well. Based on our analysis of the manifestations and consequences of the financial crisis we show the effects on competitiveness of Slovakia, as well as on public policy.

  13. Inflation Game Redistributions and Economic Crisis Path

    Directory of Open Access Journals (Sweden)

    Dorel AILENEI

    2012-03-01

    Full Text Available Starting from the effects of the socially redistribution of wealth generated by inflation, the authors aim to identify the system of interests that supports this process, namely the connections with the economic crisis. In this aim, this work launches the hypothesis that the contagious disease of the market imbalances represents the basis for the manifestation of the inflationary process. By analyzing the assumptions and the causes of the market imbalances manifestation, the authors reveal a system of interest alliances that added to the complicit attitude of the consumers supports the manifestation of the inflationary process. The confrontation between this hypothesis and the inflationary trends in developed countries over the last four decades, respectively the recent lesson of the global economic crisis, leads to the confirmation of a common root of the inflationary phenomenon and the economic crises. The authors think that in order to avoid the emergence of new global economic crises and the negative effects of inflation, a radical behavioural change is required from both consumers and other economic agents.

  14. The Financial Crisis and the Systemic Failure of Academic Economics

    DEFF Research Database (Denmark)

    Colander, David; Föllmer, Hans; Haas, Armin

    The economics profession appears to have been unaware of the long build-up to the current worldwide financial crisis and to have significantly underestimated its dimensions once it started to unfold. In our view, this lack of understanding is due to a misallocation of research efforts in economics....... We trace the deeper roots of this failure to the profession's focus on models that, by design, disregard key elements driving outcomes in real-world markets. The economics profession has failed in communicating the limitations, weaknesses, and even dangers of its preferred models to the public...

  15. About How Did the First Ever Big Economic Crisis Look Like

    Directory of Open Access Journals (Sweden)

    Liviu C. ANDREI

    2010-02-01

    Full Text Available The obsession about the current economic crisis is pretty understandable. But being obsessed about the current moment, in the economic crisis matter, might become a scientific mistake. As for instance, the real results of the current period will be available in just a couple of years. Moreover, we used to believe up to recently that the previous big crisis of 1929-1933 might be nearly an accident and would not repeat, due to its lesson applied: the policy makers made functional, vigilant, diligent and acting. May be such a lesson was not enough. But equally, every crisis would claim a specific lesson of this kind, and the present one would do the same, whereas the 1929-1933 and current crises lessons would not be enough, partly because the economic history has more in such a topic area. In other words, let us more deeply search for crisis elements in the world economic history.

  16. Geographies of Monetary Economy and the European economic crisis

    OpenAIRE

    Ahokas, Jussi

    2012-01-01

    The paper deals with the geographies of the European economic crisis that had its origins in the global financial crisis of 2008-09. The crisis pushed many European economies into a deep recession and caused a mass unemployment in many countries. The crisis is analysed in a monetary economy framework that builds upon the post-Keynesian economic theories such as the monetary theory of production and the chartalist theory of money. These theories focus on the operational realities of banking, c...

  17. Integration Process Of Slovakia Into The European Monetary Union In Perspective Of Selected Macro-Economic Theories During The Current Economic Crisis

    Directory of Open Access Journals (Sweden)

    Rastislav Kotuliè

    2012-09-01

    Full Text Available Each national economy anticipates mostly positive effects after joining the Euro. Positive expectations are logical, since every new country admitted to the EU pledges to join the Monetary Union  and till the admission  has the status of a member state with a temporal exemption for the joining of the Euro. According to the macro­economic results, there is usually  an illusion  present that the membership  in  the Eurozone itself absorbs the progress of the global recession. On  the other hand, in  favor  of  the membership  in  the Eurozone speaks the fact that all countries admitted had to rigidly fulfill the Maastricht Convergence Criteria leading to the medium­term guarantee of  a healthy and long­term sustainable economy.

  18. Economic inequality and economic crisis: a challenge for social workers.

    Science.gov (United States)

    Goldberg, Gertrude Schaffner

    2012-07-01

    To social workers, extreme economic inequality is primarily a violation of social justice, but this article shows how growing economic inequality since the mid-1970s was not only unjust, but also dysfunctional to the U.S. economy and linked to the recent economic crisis with its devastating effects, particularly on the social work clientele. The article identifies interrelated changes in ideology, the market economy, and government policies since the mid-1970s; contrasts the political economy of this period with the preceding post-World War II decades when the trend was toward a "shared prosperity"; and shows how increased economic inequality and political consequences that undermined democracy itself contributed to the economic meltdown. The analysis has implications for the direction of social reform and for broadening the constituency of social movements in pursuit of the social work mission of social justice. How social workers can contribute to such movements and to a reduction of economic and political inequality is explored.

  19. MORAL HAZARD - CASE OR EFFECT OF THE ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Victor Troacă

    2010-12-01

    Full Text Available In the past two years, the main topic of discussion was "global economic crisis", why?, what effect?, or when and how to overcome it, "are questions that each and everyone asked themselves once at least in the last twenty-four months. It was discussed and it is still discussing daily on at least one TV channel on the topic: “The fact that this has caused and continues to generate topics of interest for both talk-shows and academic community, made us reflect on an idea: "If this phenomenon is the source of so much controversy, means that the information held by everyone is incomplete in a lesser or higher degree. This incomplete information is a characteristic of moral hazard, and does not this case of the current economic reality, or is it just an externality? ". This article is a study in terms of moral hazard on the economic crisis. The main idea of this study is the question: "Is moral hazard the case or the externality of the current economic situation?" Therefore, forms of the moral hazard are tracked and analyze before and after August 2008 (when the crisis started.

  20. The Impact of the Global Economic Crisis on Sport

    Directory of Open Access Journals (Sweden)

    Szabó Földesi Gyöngyi

    2014-09-01

    Full Text Available The current economic crisis is the worst one in decades; it is surely the worst one the world has experienced since the Great Depression in the 1930s. Although it has affected countries with different positions in the global village in different ways and to different degrees, it has had worldwide consequences in most sub-systems of societies, including sport. These are hot issues in management and in everyday practice; still, relatively little attention has been paid to them within the social sciences. The objective of this paper is to close this gap by studying how the recent global economic crisis has affected sport. Two spheres of sport have been selected for analysis: mega sport events and grassroots sports. These two fields were chosen because of their social importance and because there is little scientific evidence about how they face and answer the challenges coming from the economic crisis. The topic is discussed from the theoretical perspective of the nexus of economy, politics, society, and culture. The methodological considerations refer to the lack of reliable sources for economic data related to sport. The results indicate that mega sport events have suffered less from the recession: there might be new actors, but the show goes on. The true loser is grassroots sport. Household impoverishment might lead to a decreased willingness of the individual practitioners to pay for sports goods and services and to a decreased contribution of volunteers working in sport. The funding models vary across countries, but generally both public and private funding has been reduced. In conclusion, it is underlined that no fields of sport have been left untouched by the current global economic crisis, but grassroots sports have suffered the most from it.

  1. The Growing Global Threat of Cyber-crime given the Current Economic Crisis: A Study regarding Internet Malicious Activities in Romania

    Directory of Open Access Journals (Sweden)

    Ana Maria Tuluc

    2011-02-01

    Full Text Available Computer crime, also referred as cyber-crime, is considered today one of the main leadingproblems in the ongoing global economic crisis and an impediment in the development of manycountries. Objectives of this work are: to determine the evolution of cyber-crime during the currenteconomic crisis, to emphasize the severity of this problem and the urgent need to limit its impactworldwide, to determine consumers perceptions regarding this phenomenon in Romania. Prior Workrelated to this issue was conducted by the Computer Security Institute in United States, InternationalComputer Protection Agency, Symantec and Ponemon Institute. In their studies, these institutionshave revealed many of cyber-crime features and proposed valuable solutions for decreasing itsimpact. The Approach used in this paper was a survey among Romanian consumers regarding cybercrime.A total number of 110 respondents participated in this survey. Results showed that almost80% of respondents were victims of cyber-crime at least once and more than 87% of respondentsnever reported these crimes to the police. As regards Implications, the study can offer support tospecialized institutions, while academics can use these findings for further research. The Value of thispaper consists of relevant findings regarding cyber-crime issue in Romania.

  2. [Demographic dimensions of the world economic crisis].

    Science.gov (United States)

    Boyer, P L

    1984-01-01

    The author contends that aspects of the world economic crisis and the fertility decline in developed countries have origins in the disequilibrium in the age distribution of the population, caused by World War II and exacerbated by the rigidity of the employment structure. Theories linking the age structures of populations, global equilibrium in supply and demand, and capital accumulation are outlined. The impact of employment conditions on fluctuations in fertility as hypothesized by Easterlin is considered, and a regression model is applied to data for European and North American countries.

  3. The 2008 financial crisis and neoclassical economics

    Directory of Open Access Journals (Sweden)

    Luiz Carlos Bresser-Pereira

    2010-03-01

    Full Text Available The 2008 global financial crisis was the consequence of the process of financialization, or the creation of massive fictitious financial wealth, that began in the 1980s, and of the hegemony of a reactionary ideology, namely, neoliberalism, based on self-regulated and efficient markets. Although capitalism is intrinsically unstable, the lessons from the stock-market crash of 1929 and the Great Depression of the 1930s were transformed into theories and institutions or regulations that led to the "30 glorious years of capitalism" (1948-1977 and that could have avoided a financial crisis as profound as the present one. It did not because a coalition of rentiers and "financists" achieved hegemony and, while deregulating the existing financial operations, refused to regulate the financial innovations that made these markets even more risky. Neoclassical economics played the role of a meta-ideology as it legitimized, mathematically and "scientifically", neoliberal ideology and deregulation. From this crisis a new capitalism will emerge, though its character is difficult to predict. It will not be financialized but the tendencies present in the 30 glorious years toward global and knowledge-based capitalism, where professionals will have more say than rentier capitalists, as well as the tendency to improve democracy by making it more social and participative, will b e resumed.

  4. CHARACTERISTICS OF THE ECONOMIC - FINANCIAL CRISIS IN EUROPE

    Directory of Open Access Journals (Sweden)

    Georgeta-Mădălina MEGHIŞAN

    2012-04-01

    Full Text Available The current economic and financial crisis represents the most sever episode of this type during the last generations – as it results from the reports of the European Commission. The impact upon the European Union member states’ economies materialised under the form of the credit restructuration, reduction of the trust at the economic level, and also, a serious contraction of the demand and the commercial exchanges. These are elements which determined the decrease of the investment and production activity, and also the usage of the production capacities, especially in the constructions field. On a medium and long term, we can appreciate that the true problem of the nature and profoundness of the crisis represents the pressure upon the business competitiveness, with consequences at the level of the working force or degradation of the human and technologic capital.

  5. Romanian Health Care Reform in the Context of Economic Crisis

    Directory of Open Access Journals (Sweden)

    Victoria Gheonea

    2010-12-01

    Full Text Available The effects of financial crisis are strongly felt in Romania, which already face with asignificant slowdown in economic growth or even economic recession. The current and internationalsituation remains still difficult, and requires high budget constraints. Under these conditions, thehealth system in Romania has become one of the most inefficient in Europe, mainly characterized bylack of transparency in the allocation of funds and inefficiency in resource use. The lack of clear andcoherent criteria to evaluate the performance of health institutions results in a difficultimplementation of efficient managerial systems to reward the efficient manager.

  6. Causes and consequences of the Spanish economic crisis: Why the recovery is taken so long?

    Directory of Open Access Journals (Sweden)

    Carballo-Cruz Francisco

    2011-01-01

    Full Text Available Spain is currently facing its worst crisis in the last fifty years. The crisis began as an extension of the international financial crisis, but the internal imbalances accumulated in the pre-crisis period aggravated the situation. At present their incomplete adjustment is making difficult the economic recovery. This paper describes the evolution of the economic crisis in Spain. The real estate sector and the banking sector are analyzed in detail, as they played a key role in the detonation and the deepening of the crisis. The results of the main reforms carried out so far are also carefully examined. It also discusses the main factors that have delayed the economic recovery up to now (unemployment and indebtedness, and present some alternatives to define an exit strategy.

  7. Taming the Economic Crisis - a Stringent Necessity for Romania

    Directory of Open Access Journals (Sweden)

    Alexandru SALCEANU

    2012-11-01

    Full Text Available At the beginning of this century, the financial globalisation, reflected by the integration of capital markets, gained a positive effect by leading the resources to their most productive place, contributing at the same time to the development of poorer areas. However, in time, due to a set of disturbing factors that operated upon the financial and monetary market, there appeared fallouts, present since 2006-2008, that generated the global economic crisis which was reported by some more rational experts, but ignored by banks, businessmen, governments, etc. Today, this crisis acts powerfully, without any concrete signs of improvement and the actions that were taken have failed to mitigate its negative consequences. In this case Romania, respecting the European and global context, must act through the determined effort of all actors of the economic environment in order to overcome this situation, by the improvement of natural resources (particularly agricultural, the growth of absorption of the European funds, the increment of foreign direct investments, the increment of competitiveness, reducing unemployment, reforming the administrative system which is too expensive under current circumstances. This challenge can be done if we bear in mind that during these years of crisis Poland has succeeded in achieving economic growth using concrete measures and leaving aside group interests.

  8. Strategies for Combating Global Economic Crisis in Nigeria through ...

    African Journals Online (AJOL)

    First Lady

    science teachers on the suggested strategies for combating global economic crisis in the country .... with what Mankiw (2001) observed that a nation's standard of living is determined ... Principles of Economics 2nd Edition fort work: Harcourt ...

  9. The Current Global Financial Crisis 2008-2012

    Directory of Open Access Journals (Sweden)

    Albulena Shala

    2013-12-01

    Full Text Available The current global financial crisis is considered as one of the biggest crises after the crisis of the years of 30’s. The global financial crisis has affected all countries including developed and developing ones. It also has affected all the industries. Population with the low-income faced the greatest consequences. The last hope for the survival of the market economy was to undertake important steps for the nationalization of bankrupted banks and companies, thereby developing policies for the preservation of jobs. Through this analysis, we have included briefly some of the development followed the period of 2008 and onwards. A summary of statistics for some important economic indicators such as employment, exporting and importing is covered in this study as well.

  10. Child and Family Policies in a Time of Economic Crisis

    Science.gov (United States)

    Richardson, Dominic

    2010-01-01

    At the beginning of 2008, a number of the world's major economies began to experience the effects of the biggest economic financial crisis in history. By the end of that year, the financial crisis was a global recession, and governments responded with changes to a suite of social and economic policies. Two broad stages of government response are…

  11. The Effects of Economic Crisis on Tourism

    Directory of Open Access Journals (Sweden)

    Maricica Drutu (Ivan

    2011-05-01

    Full Text Available Objectives. This paper proposes a listing of the main effects of economic and financial crisis ontourism, followed by an analysis of key trends in tourism development and mutations occurring in consumerbuying behavior of such services. Prior Work. All these have a significant impact on the strategies thatshould be used for tourist destinations, given that the last 20 years, tourism has made a great contribution tothe global economy, being the fastest growing sector in terms of External revenue and create jobs, andeconomic and financial crisis that has affected the world economy in 2008, has led to decreasing the flow ofboth domestic and international tourists. Approach. In terms of sustainable development, a concern must beemphasized that tourism as a phenomenon, but also as an activity is unique in its kind that manifests itself bydependence on the environment, social environment and cultural values, that are found in areas of interest.Value. Because of this dependency, tourism has an undeniable interest in ensuring the sustainability of thesevalues.

  12. Wait, bond, and buy: Consumer responses to economic crisis.

    OpenAIRE

    Yabar, J.

    2012-01-01

    Abstract: Although economic crises tend to be perceived as a time in which consumers cut back on expenditures (including cars, clothes, and houses), market data also shows that sales of certain products increase during economic downturns. How do consumers respond to an economic crisis? And what is the psychology behind such behavior? These are questions to which this dissertation is devoted. Three empirical chapters show that an economic crisis activates different fundamental human needs, whi...

  13. ECONOMIC CRISIS AND TOURISM: CASE OF THE GREEK TOURISM SECTOR

    OpenAIRE

    Guduraš, Dejan

    2014-01-01

    The purpose of the article is to present the impact of the global economic crisis on international tourism in Greece, where tourism represents an important part of the economy. The goal is to create a brief overview of the economic situation in Greece, describe the changes that followed after the occurrence of economic crisis and to show how tourism responded to this situation. In this regard publicly available data about tourism and other economic sectors of Greek economy were compared in or...

  14. The Economic Crisis – Meanings and Significations Causes and Solutions

    Directory of Open Access Journals (Sweden)

    Doinita CAZAN ZAFIU

    2013-08-01

    Full Text Available The crisis can be defined as a period in the dynamics of a system, and it is described as a multitude of difficulties, as a conflict or tensions, fact that makes difficult its normal work or functioning and this can lead to powerful pressures towards changing, and „The crisis period represents the stage in which the changes within the system are determined by the actions of a system”. During the period of crisis, the threats changes into dangers which are at the basis of defining the insecure state of any system. The economic crisis represents a situation in which the economy of a country passes through a sudden decrease of its force, decrease usually brought about by a financial crisis. The economic crisis may have the shape of a stagflation, of a recession or of an economic depression.

  15. THE EFFECTS OF 2008 GLOBAL ECONOMIC CRISIS ON BORROWING RATES OF MANUFACTURING COMPANIES: PRE-CRISIS AND CRISIS COMPARISON

    OpenAIRE

    Dömbekci, Berna

    2014-01-01

    The global economic crisis of 2008 has affected more or less every country. Governments have to take special precautions to ease the severe effects of the crisis in their financial and real sectors. The interest rate is an important indicator of economic stability and should be maintained at a level where the economic agents do not decide to postpone their growth plans. For this reason, this article will focus on the effects of the 2008 global economic crisis on the borrowing rates of Turkish...

  16. The Global Economic Crisis and the Global Accumulation of Capital

    Directory of Open Access Journals (Sweden)

    Wojciech Błasiak

    2010-06-01

    Full Text Available The article presents a thesis that the current global economic crisis is the Second Great Depression, after the First Great Depression of the 30s. This is a global crisis of capital accumulation, which is caused by insufficient global demand. The author analy - ses the theoretical output of John Maynard Keynes, Michał Kalecki, Paul Baran and Paul Sweezy. The post-war „Golden Age” of the capitalist economy ended in 1973 with a de - ep stag flation of the 70s and 80s. Capitals searching for profitable investment, started to be invested in financial speculation, growing since the 80s. This speculation was enabled on a global scale by the Washington Consensus in the 90s. The explosion of financializa - tion of the global economy began. The author presents the analyses of Paul Sweezy and Harry Magdoff, who argued that this was financialization of global accumulation of ca - pital in a form of world financial speculation. This process was completed by the finan - cial crash in 2008, which was the implosion of global speculative balloons. Economics and global economic policy faced challenges of creating new world economic order.

  17. The Financial Crisis and the Systemic Failure of Academic Economics

    DEFF Research Database (Denmark)

    Colander, David; Föllmer, Hans; Haas, Armin;

    . We trace the deeper roots of this failure to the profession's focus on models that, by design, disregard key elements driving outcomes in real-world markets. The economics profession has failed in communicating the limitations, weaknesses, and even dangers of its preferred models to the public......The economics profession appears to have been unaware of the long build-up to the current worldwide financial crisis and to have significantly underestimated its dimensions once it started to unfold. In our view, this lack of understanding is due to a misallocation of research efforts in economics....... This state of affairs makes clear the need for a major reorientation of focus in the research economists undertake, as well as for the establishment of an ethical code that would ask economists to understand and communicate the limitations and potential misuses of their models....

  18. ECONOMIC CRISIS AND THE COMPETITIVENESS OF TRANSNATIONAL COMPANIES

    Directory of Open Access Journals (Sweden)

    LIVIU RADU

    2012-05-01

    Full Text Available In crisis situations, the competitiveness of transnational companies becomes a particularly complex concept, due to the fact that said business entities are continuously moving within the context of internationalization and increasing use of global strategies. Given the current economic context, one cannot merely assess the competitiveness level of any given transnational company from a static standpoint, depending on the turnover, sales volume or number of employees of said company, but such assessment needs to be made from a dynamic standpoint, in close connection with the internal and international business environment in which that company carries out its activity.

  19. Back to oil: Indonesia economic growth after Asian financial crisis

    OpenAIRE

    Heru Iswahyudi

    2016-01-01

    This paper examines the growth experience of Indonesia in the years before and after the Asian financial crisis. Particular attention is paid to the relationship between economic growth and petroleum sector’s total factor productivity (TFP). It finds the possibility that post-crisis Indonesian economic growth has ‘recoupled’ with petroleum sector’s TFP – fluctuations in petroleum TFP is directly correlated with fluctuations in economic growth. Further, although keeping Indonesia’s petroleum s...

  20. Effects of the Economic Crisis on the Romanian Consumer

    Directory of Open Access Journals (Sweden)

    Badea Mihaela

    2013-08-01

    Full Text Available My purpose for this study is to analyse the Romanian consumer’s behaviour in the context of the economic crisis that our country as well as other countries have gone through after 2008. The post-crisis Romanian consumer’s behaviour is also going to be approached in comparison to that in the period preceding the economic crisis (2005-2008. I will show the consequences brought by the changes in the consumer’s behaviour and attitude for retailers and how crisis forced them to apply new strategies and to reinvent some of them in order to cope with the crisis and to record increase in sale despite the crisis.

  1. Analysis of insurance fraud in connection with the economic crisis

    OpenAIRE

    Justová, Sandra

    2012-01-01

    The thesis deals with insurance fraud in connection with the economic crisis. The first chapter describes the moral hazard, adverse selection and information asymmetry. Focus on the topic global financial crisis. Further, the concepts fraud and insurance fraud are explained. The main focus of this work is that the financial crisis has led to an increase in insurance fraud and what aspects lead to this fact. The last chapter deals with the procedures of insurance companies, which seek to insur...

  2. Proceedings of a workshop, held in Constanta, Romania on 22 May 2014, on Oral Health of Children in the Central and Eastern European Countries in the context of the current economic crisis.

    Science.gov (United States)

    Hysi, Dorjan; Eaton, Kenneth A; Tsakos, George; Vassallo, Paula; Amariei, Corneliu

    2016-07-25

    This report presents the proceedings of a workshop held in Constanta, Romania on 22 May 2014. During the workshop, representatives from 18 Central and Eastern European countries gave oral presentations on the current oral health of children and young adults aged 16 years and younger. The aim of the workshop was to collect and present data relating to the oral health of children from Central and Eastern European countries and to discuss them in the context of the political changes that have taken place over the last two decades and the recent economic crisis.The presenters had previously completed a series of questions on oral epidemiological studies, prevention of oral disease, treatment and payment, dental personnel, uptake of oral health care and other considerations and structured their presentations on these topics plus the influence of the economic crisis on oral health. It should be remembered that this paper is a report of the proceedings of a workshop and not a study. Ethics approval is not required for workshops.After the 18 oral presentations a 90 min discussion took place during which further points were raised. The presentations, the discussion and the conclusions which were reached are reported in this manuscript.

  3. The Welfare State as Crisis Manager: Explaining the Diversity of Policy Responses to Economic Crisis

    DEFF Research Database (Denmark)

    Starke, Peter; Kaasch, Alexandra; van Hooren, Franca

    welfare states, over a 40-year period, the book reveals the ways in which expansion and retrenchment are shaped by domestic politics and existing welfare state institutions. Moreover, the study addresses the kind of policy change triggered by economic crisis. In contrast to conventional wisdom......Written during an ongoing period of global economic crisis, The Welfare State as a Crisis Manager examines the practice and potential of using social policy to cope with crises. Through an in-depth analysis of social policy reactions in the wake of international economic shocks in four different...

  4. The Welfare State as Crisis Manager: Explaining the Diversity of Policy Responses to Economic Crisis

    DEFF Research Database (Denmark)

    Starke, Peter; Kaasch, Alexandra; van Hooren, Franca

    Written during an ongoing period of global economic crisis, The Welfare State as a Crisis Manager examines the practice and potential of using social policy to cope with crises. Through an in-depth analysis of social policy reactions in the wake of international economic shocks in four different...... welfare states, over a 40-year period, the book reveals the ways in which expansion and retrenchment are shaped by domestic politics and existing welfare state institutions. Moreover, the study addresses the kind of policy change triggered by economic crisis. In contrast to conventional wisdom...

  5. THE ECONOMIC – FINANCIAL CRISIS 2007 – 2009

    Directory of Open Access Journals (Sweden)

    Andreea Nicoleta Donici

    2010-09-01

    Full Text Available This article takes a look at the well known economical and financial crisis, which affected all the countries in the world. When comes to Europe, the most affected countries were the Baltic countries: Estonia, Latvia and Lithuania. The economy of these countries shrank enough, so that they cope with another wave of crisis.

  6. Thai clinical laboratory responsible to economic crisis.

    Science.gov (United States)

    Sirisali, K; Vattanaviboon, P; Manochiopinij, S; Ananskulwat, W

    1999-01-01

    Nowadays, Thailand encounters a serious economic crisis. A clear consensus has been made that a cost-saving system must be the important tool. Both private and government organizations are engaged in this situation. We studied the cost-saving in the clinical laboratory. A questionnaire was distributed to 45 hospital laboratories located in Bangkok. Results showed that efforts to control the cost are the essential policy. There was a variety of factors contributing to the cost-saving process. The usage of public utility, non-recycle material and unnecessary utility were reconsidered. Besides, capital cost (wages and salary) personnel incentive are assessed. Forty three of the 45 respondents had attempted to reduce the cost via curtailing the unnecessary electricity. Eliminating the needless usage of telephone-call. water and unnecessary material was also an effective strategy. A reduction of 86.9%, 80 % and 80.0% of the mentioned factors respectively, was reported. An inventory system of the reagent, chemical and supplies was focused. Most of the laboratories have a policy on cost-saving by decreased the storage. Twenty eight of the 45 laboratories considered to purchase the cheaper with similar quality reagents instead. And some one would purchase a bulky pack when it is the best bargain. A specific system "contact reagent with a free rent instrument" has been used widely (33.3%). Finally, a new personnel management system has been chosen. Workload has rearranged and unnecessary extra-hour work was abandoned.

  7. Innovative Clusters in Times of Economic Crisis. Case Study Romania

    Directory of Open Access Journals (Sweden)

    Carmen Beatrice Păuna

    2013-08-01

    Full Text Available The small and medium-sized enterprises (SMEs are deeply affected by the current economic crisis, especially due to decrease in demand and much harder access to financing sources. Most of the small and medium-sized companies (over 90% of them face major difficulties due to decrease in orders and diminution of their financial resources. Other impacts of the financial crisis identified at work within the SMEs environment are the decline in exports, the lower investments and, not least, the psychological effect of the market hindrances. In order to alleviate and/or fight back the impacts of the crisis, programs and measures are envisaged, including certain solutions, both at governmental, as well at local and company level, destined to support the development and efficiency of the viable SMEs. The financing solutions for the SMEs may be oriented also to a modern type of industrial activities organization namely clusters and clusters networks. The concept of cluster has gained a lot of popularity in the past few years, policy-makers, practitioners and scientists having equally referred to it. A lot of policies have been initiated and implemented in Europe in the past few years with the purpose of stepping up the activity of the current clusters and of providing favorable conditions for the creation of new ones, especially innovative clusters. The paper intends to present the records registered in this field by Romania on regional level, and the challenges faced by the Romanian firms under the circumstances of the financial crisis and the lack of institutional framework and of clusters governance tools.

  8. Great economic crisis in Polish agriculture - a remainder and caution

    Directory of Open Access Journals (Sweden)

    Wiesław Musiał

    2009-01-01

    Full Text Available The work presents chosen aspects of the course of the so-called great economic crisis which took place in 1929-1933 in economy, including agricultural sector. The results of the crisis in the sphere of agricultural production, the use of production means and concerning shaping of the price level and price relationships were discussed. Attention was paid to the state intervention measures aimed to diminish the range of crisis in agriculture and reasons of their low efficiency. It was demonstrated that the crisis was very deep and beside the economy involved also the social, cultural and political spheres.

  9. Should CSR Be Ignored Due to the Economic Crisis?

    Institute of Scientific and Technical Information of China (English)

    Guo Yan

    2009-01-01

    @@ Due to the economic crisis,many companies are struggling for a living.So,should the Corporate Social Responsibilitv(CSR)be put aside before these companies can secure their survival?Of course the answer is no.

  10. Malaysian Economic Crisis: Causes, Effects, Recovery Actions and Lessons Learned

    National Research Council Canada - National Science Library

    Hashim, Amir

    2000-01-01

    .... At the start of the crisis, Malaysia adopted a tight fiscal and monetary policy in response of the economic environment prevailing at that time it was obvious that the initial policy package resulted...

  11. Wait, bond, and buy : Consumer responses to economic crisis

    NARCIS (Netherlands)

    Yabar, J.

    2012-01-01

    Although economic crises tend to be perceived as a time in which consumers cut back on expenditures (including cars, clothes, and houses), market data also shows that sales of certain products increase during economic downturns. How do consumers respond to an economic crisis? And what is the psychol

  12. After the Crisis: Is There a Comeback of Economic Interventionism?

    OpenAIRE

    Zimmermann, Thomas A.

    2009-01-01

    This presentation reviews the economic interventions by governments and central banks in response to the 2007-2009 financial and economic crisis. In the area of trade policy, we find that protectionism has increased substantially, with governments targeting in particular the products of declining industries and financial services. Nevertheless, spiralling protectionism as in the 1930s has so far been avoided. In investment policy, the crisis has not led to a general increase of protectio...

  13. INVESTMENT STRUCTURE AND EVOLUTION IN THE CONTEXT OF ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    CODAU CIPRIAN-CRACIUN

    2011-12-01

    Full Text Available The scope of this article is the evolution analysis of net investment in Romania between economic growth and international economic crisis. The analysis captures both the evolution of net investment by structure elements (buildings, outfits, other investments and the structure and evolution of investments by sources of financing. Also there is an analysis of the foreign direct investment (FDI share in the total net investment and the impact of the economic crisis on this share. The article aims to identify the main factors for the evolution of investments in Romania before the financial crisis and determine how the financial crisis influenced the structure and volume of investments in the national economy. Most previous studies have focused either on a small part of the investments made in Romania (in most cases the FDI have been analyzed or on the period of economic expansion without capturing the evolution of investment during the economic crisis. Previous research has highlighted especially the FDI influence on macroeconomic indicators of high importance for the economy (unemployment rate, GDP growth rate, etc. with less focus on the factors influencing these investments and the close connection between the economic context (economy status and the volume of these investments. For the analysis of the investment evolution during the mentioned period statistical data was used that captured both the investment evolution trend and the changes occurred by the national economy stepping into recession amid the global financial crisis established. To get an overview of the situation it was considered a time internal that captured both the economic growth and the period after the onset of the economic crisis. Thereby information was obtained on the volume of net investment during 2000-2010, on foreign direct investment in the period 2003-2010 and their share in total net investment and also on the main sources of investment financing during the

  14. Personal Finances during the Economic and Financial Crisis

    Directory of Open Access Journals (Sweden)

    Ioana LUPASC

    2012-11-01

    Full Text Available The crisis is unfortunately a negative feature specific to recent years which has affected most areas of activity in many countries, including the powerful economical ones. As a direct consequence, the crisis has had a significant and direct impact on people's personal finances. In this paper we propose different solutions which lead to a better administration of personal finances, so that the involved actors to be able to manage difficult situations made by the economic and financial crisis. Thus, we attempted to try to identify and suggest the best ways to manage personal financial resources through bank entities.

  15. ECONOMIC CRISIS IMPLICATIONS ON PAEDIATRIC POPULATION’S HEALTH

    Directory of Open Access Journals (Sweden)

    Alina-Costina LUCA

    2015-04-01

    Full Text Available Once the global economic crisis occurred, shortly after the collapse of Lehman Brothers, trillions of dollars were lost on the stock exchange, hundreds of banks and investment funds in the US went bankrupt and thousands of companies were forced to declare bankruptcy. Its effects were felt then, in very short time also in Romania, following that in 2009, Romania went officially in recession. Beyond the financial implications the crisis has on the whole activity, regardless of the field, the economic and financial effects of the crisis on health and health policies can have very long term consequences.

  16. "Doing Gender," Ensuring Survival: Mexican Migration and Economic Crisis in the Rural Mountain West

    Science.gov (United States)

    Schmalzbauer, Leah

    2011-01-01

    This article draws on ethnographic research to explore the impacts of the current economic crisis on Mexican migrant families in rural Montana. It looks specifically at the ways rural families negotiate gender roles and expectations as they devise survival strategies in response to major economic shifts. My analysis suggests that traditional…

  17. Managing More than the Money: Superintendents' Perceptions of Their Leadership during Economic Crisis

    Science.gov (United States)

    Taibi-Lewis, Constance

    2011-01-01

    Research on the process and effects of school budget development by superintendents during the current economic crisis is limited. This study sought to determine the job satisfaction, efficacy, and longevity of school superintendents during economic crises. Using data from an original survey instrument TRIPLEM (Managing More than the Money…

  18. IMPACT OF ECONOMIC AND FINANCIAL CRISIS IN THE CONSTRUCTION INDUSTRY

    Directory of Open Access Journals (Sweden)

    Cristina PLOSCARU

    2010-01-01

    Full Text Available The current financial and economic crisis has affected many sectors, and also the construction sector. The construction market has been and will be an important source of income for the entire Europe, totaling about 1.650 thousand billion euro, which is more than the GDP of Italy. Building no doubt brings significant percentage in the GDP of any European country, which of course is different from country to country. In Western European countries, the residential market is almost 50% from the construction market, while in Eastern European countries the majority is held by the civil and non-residential constructions. In addition, in the West the medium budget per capita spent on construction is 3-4 times higher than that spent in Eastern countries. But, according to previsions in the coming years the countries that will witness a growth, albeit small, will be the Eastern ones. The paper highlights the impact of the economic and financial crisis in the construction industry on a European and national level, as the sustainable constructions that may represent the sector’s future.

  19. Energy Strategy of Russia in the Conditions of Economic Crisis

    Directory of Open Access Journals (Sweden)

    Kashulin Danila A.

    2016-10-01

    Full Text Available The article is devoted to the transformation of the energy strategy of Russia in the conditions of the current economic crisis. The special attention is paid to current trends in the sphere of international relations having a decisive influence on the formation of Russia’s energy strategy. The authors point to the crisis of the modern world, the deepening of interstate contradictions, the expansion of confrontation, the revision of the uniform principles of trade, established by the World Trade Organization, the changes in the global financial system. The authors investigate the possibility of political arrangements between the leading suppliers of oil on the destabilization of the oil market in order to achieve geopolitical goals. In the article special attention is also paid to the issue of political motivation of anti-Russian sanctions directed at impeding Russia’s development and its Fuel & Energy Complex, in particular. Today, against the background of the current political situation, the energy strategy of Russia is exposed to adjustment. The country has the important task of ensuring technological independence of the energy sector on the basis of import substitution of the equipment, diversification of the directions of export of energy resources, preservation of leading positions in the world market of peaceful nuclear energy, etc. The authors conclude that the energy strategy of Russia is important part of foreign policy strategy of the country, and it is focused on practical cooperation with all countries and is aimed at protecting interests of the state.

  20. Economic Crisis at the Confluence of the SOMES Rivers

    Directory of Open Access Journals (Sweden)

    Radu Pavel Gavrila

    2011-10-01

    Full Text Available Economic depression is a complex phenomenon, with repercussions in all sectors, particularly the economic one. The crisis in Romania was a reflection of the global crisis. Measures taken at government level, as were currency restrictions and the quota imports were considered a necessity. They were previously taken by the countries with which Romania has trade relations.The crisis has had an impact on the business environment in Dej less than among larger firms and especially to the small traders and craftsmen. And in some cases even amongst the individual offices. Changes arising from the crisis required a greater presence of women in the social and economic life and especially their asociations. The fight was to get as much protection as both employed and an entrepreneur.

  1. PARTICULARITIES OF MANAGEMENT'S FUNCTIONS IN ECONOMIC CRISIS CONDITIONS

    Directory of Open Access Journals (Sweden)

    Amalia Venera Todoruţ

    2009-05-01

    Full Text Available In this paper I have proposed to address/approach new dimensions of management in the economic crisis at the strategic and tactical levels, and in particular at the operational level. I have presented aspects/issues of the economic crisis in our country, by characterize the impact of crisis on the main sectors of national economy. Globalization, high flexibility, continuous improvement, tolerance for uncertainty is the general attributes of the new organizations that require a new managerial process. The organizational environments uncertain, turbulent, specific to economic crisis involve new accents of management instruments in order to achieve managerial effectiveness and efficiency and to this sense we scale new management by objective and management by exception. We also put emphasis on total quality management method and the need for change management by reengineering

  2. SERVICES IN GORJ COUNTY IN ECONOMIC CRISIS SITUATIONS

    Directory of Open Access Journals (Sweden)

    RĂBONTU CECILIA IRINA

    2011-03-01

    Full Text Available In this paper we propose a synthetic analysis of the evolution of the tertiary sector in Gorj county under the pressure of the economic crisis that is felt now more than ever, the tertiary sector whos activities resulted in extremely diverse and constantly expanding services in our county as well. Like other regions of Romania, Gorj county is facing a new situation: after the period 2001-2008 when there has been growth, started a period marked by crisis, outcome of the effect of economic and financial crisis that broke out in the U.S. in October 2008. The economic crisis raises even more problems further enhancing poverty due to lower employment, as well as the decline in purchasing power especially among low-income population, under the impact of inflation and restrictive policies in wages, issues that are consequential to the stage of development of services in Gorj County.

  3. Shadow Economy in the Context of Economic Crisis: Circumstance Analysis and the Forecasting of Consequences

    Directory of Open Access Journals (Sweden)

    Alexey Sergeyevich Naidenov

    2013-03-01

    Full Text Available The article is devoted to the problem of estimating dynamic of shadow economy in the context of socio-economic crisis negative influence. Factors and threats supporting the increase of shadow economy during the economic crisis were studied. Current situation in the Ural Federal District with regard to shadow economic activity for the period from 2006 to 2012 was represented. The results of forecasting shadow activity were given in the article on the example of Ural Federal District regions. Data obtained was used for developing target program activities, aimed at minimization of negative influence of shadow economy during the economic crisis. Special attention was given to the problem of improving the effectiveness of international cooperation concerning counteraction of shadow economic activity

  4. The Economic Theory and the Global Crisis, between Theoretical Solutions and the Economic Reality

    Directory of Open Access Journals (Sweden)

    Nicolae MOROIANU

    2011-06-01

    Full Text Available This work aims to study the evolution of the global crisis and its impact on various areas worldwide, as well as its impact on certain decisions which have been implemented by the authorized bodies.The general framework of this analysis starts with a short review of the relevant economic movements and trends; it continues with presenting the potential solutions aimed to overcome the dark period which is currently crossed by the contemporary economy.In the same time, the authors aim to highlight the impact of the monetary policies throughput the history on the real economy, until the current period.

  5. After the Financial Crisis: The Ethics and Economics Debate Revisited

    Directory of Open Access Journals (Sweden)

    Jacob Dahl Rendtorff

    2010-03-01

    Full Text Available The recent international events, with a major financial crisis all over the world, involve important questions about the relation between ethics and economics and the responsibilities of the economic market in relation to broader social and political concerns. This paper addresses this issue in five parts 1 Ethics in economic history 2 The neoliberal concept of economics 3 Welfare economics and the criticism of neo-classical concepts of rationality 4 Ethics within economics 5 Economic anthropology and the foundations of rationality.

  6. Global economic crisis the state and foreign policy

    Directory of Open Access Journals (Sweden)

    Davut Ateş

    2010-04-01

    Full Text Available The crisis that began in mortgage credits in the middle of 2007 in the United States triggered a financial crisis starting from the middle of 2008 in the U.S. and Europe. At the end of 2008 real sector all over the world began to be negatively affected from the crisis. Current crisis is compared with Great Depression that had begun in 1929 and become one of steps going to the Second World War. It is known that many changes occured in domestic and external behaviours of states in the time of Depression. It is very usual to expect that current crisi will have some influences on states too. Taking into account that crisis is a temporary period, in this essay it is debated how domestic and external behaviours of states will change in the time of crisis. Moreover, it is explained that influences of crisis may change from country to country, and continuation of crisis in the form of recession or depression will create different impacts as well.

  7. STRATEGIC PLANNING IN THE GLOBAL ECONOMIC CRISIS AND RECESSION

    Directory of Open Access Journals (Sweden)

    Ana Anufrijev

    2013-12-01

    Full Text Available In the global economic crisis and recession, strategic planning is a necessity. New business environment manifests a new approach to strategic planning and strategic thinking defines the activities with the organizational aspects of the movements in the region has the greatest influence firm size. The financial plan, the deficit of financial assets is a condition that requires new forms of adjustment to market conditions. The recession and the Serbian go hand in hand and the lack of funds, the impact of economic crisis and economic recession are conditions that require urgent and strategic action planning.

  8. Reconstructing Economics in Light of the 2007-? Financial Crisis

    Science.gov (United States)

    Friedman, Benjamin M.

    2010-01-01

    The lessons learned from the recent financial crisis should significantly reshape the economics profession's thinking, including, importantly, what we teach our students. Five such lessons are that we live in a monetary economy and therefore aggregate demand and policies that affect aggregate demand are determinants of real economic outcomes; that…

  9. Rhetorics of Regulation in Education after the Global Economic Crisis

    Science.gov (United States)

    Hartley, David

    2010-01-01

    Economic crises such as those of 1929, 1973 and 2008 appear to associate with shifts in the rhetorics of management. These dates mark the end of expansionary phases within an economic cycle, and they portend what James O'Connor has called a "fiscal crisis of the state". It is argued, speculatively, that immediately before and after an…

  10. Impact of the economic crisis and increase in food prices on child mortality: exploring nutritional pathways.

    Science.gov (United States)

    Christian, Parul

    2010-01-01

    The current economic crisis and food price increase may have a widespread impact on the nutritional and health status of populations, especially in the developing world. Gains in child survival over the past few decades are likely to be threatened and millennium development goals will be harder to achieve. Beyond starvation, which is one of the causes of death in famine situations, there are numerous nutritional pathways by which childhood mortality can increase. These include increases in childhood wasting and stunting, intrauterine growth restriction, and micronutrient deficiencies such as that of vitamin A, iron, and zinc when faced with a food crisis and decreased food availability. These pathways are elucidated and described. Although estimates of the impact of the current crisis on child mortality are yet to be made, data from previous economic crises provide evidence of an increase in childhood mortality that we review. The current situation also emphasizes that there are vast segments of the world's population living in a situation of chronic food insecurity that are likely to be disproportionately affected by an economic crisis. Nutritional and health surveillance data are urgently needed in such populations to monitor both the impacts of a crisis and of interventions. Addressing the nutritional needs of children and women in response to the present crisis is urgent. But, ensuring that vulnerable populations are also targeted with known nutritional interventions at all times is likely to have a substantial impact on child mortality.

  11. Facets of Economic and Financial Crisis Impact on Strategic Planning of travel Agencies

    Directory of Open Access Journals (Sweden)

    Claudia E. Tuclea

    2014-11-01

    Full Text Available The purpose of this paper is to explore the strategic behavior of travel agencies in Romania and their strategy development process before and during the current economic crisis. Using 88 in-depth interviews with Romanian managers of travel agencies of different sizes, we pursued the understanding the extent to which they use strategic management, the role of strategic management on leading travel agencies before and during the crisis, and the changes of their strategic planning process due to the crisis. The research also aims to identify how they perceive the impact of the crisis on the business environment and the behavior of competitors. The findings suggest that, at first, travel agencies followed an informal strategic planning process, with a high emphasis on the short-term objectives given the turbulence of the environment affected by the economic crisis. This turned into a tougher emphasis put on financial and cutting costs measures. The crisis prolonged and the managers rediscovered the role of strategy, trying to find new ways of creating value for the customers, reconsidering the role of competitive advantage. The paper offers an image of strategic management processes of travel agencies and the changes in their strategic direction and behavior as a result of the financial and economic crisis, approaching a well-defined theoretical and practical need.

  12. The economic crisis and the insurance industry: The evidence from the ex-Yugoslavia region

    Directory of Open Access Journals (Sweden)

    Njegomir Vladimir

    2010-01-01

    Full Text Available The paper analyses the impact of the economic crisis on the insurance industries of the ex-Yugoslavia region. The analysis encompasses five countries: Slovenia, Croatia, Serbia, Bosnia and Herzegovina, and FYR Macedonia. We examine insurance industry specifics separately for each country for the period 2004-2008 and for the first six months of 2009. While the impact of the crisis varies between countries, the research results indicate that the global financial crisis has had limited overall impact on the regional insurance industry. However the current recession resulted in negative premium growth in Serbia, Croatia and FYR Macedonia while the growth in Slovenia and Bosnia and Herzegovina declined. At the same time investment returns have declined and claims have risen in all countries. The crisis had more pronounced impact on non-life insurance premium growth in less developed insurance markets. In developed markets, namely Slovenia and Croatia, the crisis had greater impact on life insurance premium growth.

  13. CHALLENGES OF INTERNAL AUDIT IN THE CURRENT CRISIS

    Directory of Open Access Journals (Sweden)

    Popa Adriana Florina

    2013-07-01

    Full Text Available Modern economic theories reject the generalization of theories concerning the economic and financial crises. Each financial crisis is unique, a historic accident, generated by specific factors in a certain socio-economic and political set-up. According to these theories, crises cannot be anticipated so as to minimize their negative effects. In spite of the fact that economic and financial crises are not identical and do not produce identical effects, history teaches us that they are strongly correlated with the cyclic nature of economic processes. The current economic recession, which shows in all fields of activity, is determining auditors to make evaluations which are a lot more precise, based on extensive procedures, as long as the presumption of activity continuity into the future is accurate. In this context, internal audit is individualized as an managerial assistance function, which allows a correct perception of the reality of the business as a whole and/or as predefined processes. The purpose of this paper is to create an overall picture of internal audit by collecting data and information from literature and showing the dimensions and the internal audit practices internationally. Therefore, we conducted a research based on the analysis of national and international publications, various articles and studies in the financial press, on the emergence and development of the internal audit function both internationally and nationally. Later we analyzed the position of internal audit in terms of global financial crisis, all these leading to the usage of a comparative study of twelve international companies in order to highlight the specific features of the internal audit function in each organization. Our intention is to emphasize aspects of internal audit departments, relations between them and the management, their role in companies based on studies provided by Protiviti, a global consulting and internal audit services company, having

  14. The correlation between stress and economic crisis: a systematic review.

    Science.gov (United States)

    Mucci, Nicola; Giorgi, Gabriele; Roncaioli, Mattia; Fiz Perez, Javier; Arcangeli, Giulio

    2016-01-01

    In 2008 a deep economic crisis started in the US and rapidly spread around the world. The crisis severely affected the labor market and employees' well-being. Hence, the aim of this work is to implement a systematic review of the principal studies that analyze the impact of the economic crisis on the health of workers. We conducted our search on the PubMed database, and a total of 19 articles were selected for review. All studies showed that the economic crisis was an important stressor that had a negative impact on workers' mental health. Most of the studies documented that a rise in unemployment, increased workload, staff reduction, and wages reduction were linked to an increased rate of mood disorders, anxiety, depression, dysthymia, and suicide. Some studies showed that problems related to the crisis may have also affected the general health of workers by increasing the risk of such health problems as cardiovascular and respiratory diseases. Finally, some studies looked at the impact of the crisis on health care services. These studies demonstrated that the reduction in public expenditure on health care services, and the reduction of public hospital budgets due to the recession, led to organizational problems (eg, medical supply shortages).

  15. CORPORATE SOCIAL RESPONSIBILITY DURING THE ECONOMIC CRISIS. THE CASE OF THE ROMANIAN COMPANIES

    Directory of Open Access Journals (Sweden)

    JOLDES Cosmin-Silviu-Raul

    2010-12-01

    Full Text Available The aim of the present paper is to identify and comment on the existing relationship between corporate social responsibility (CSR and the current economic crisis, by focusing on the experience of the Romanian companies. After briefly defining the concept of CSR, the article presents the above mentioned relationship from a triple perspective: the lack of ethics as a cause of the economic crisis, the threat of CSR in periods of crisis and the opportunity of CSR in periods of crisis, considering that the last perspective could be maximized if companies are going to approach CSR from a strategic point of view. Finally, the second part of the paper presents what Romanian companies really do, but, more important, what they should do in order to increase their effectiveness in terms of CSR implementation when social budgets seem to remain constant or even decrease.

  16. Interpretive schemata of human resource management during economic crisis: Case of producers for automotive industry

    Directory of Open Access Journals (Sweden)

    Ana Arzenšek

    2010-05-01

    Full Text Available This qualitative research investigates interpretive schemata by producers for automotive industry during the economic crisis in Slovenia. Specifically, the interest was in their Human resource management (HRM schemata in current crisis. We explained the dynamics of schema change on the basis of Piaget's theory of adaptation. In-depth interviews with CEOs, directors of HRM and leaders of trade unions served as a primary data source. In addition, comparative analysis of social responsibility as reported in companies' annual reports in 2007 and 2008 was made. Firstly, results demonstrate strategic role of HRM in chosen companies. Secondly, present economic crisis does not serve as a factor of schema change. In conclusion, participants mostly assimilate new information from environment to fit their HRM schemata. Results show the major factor for both assimilation and lack of schema change is occurrence of crisis in Slovenian companies that produce for automotive industry in the nineties.

  17. Intellectual Capital During the Worldwide Economic Crisis

    Directory of Open Access Journals (Sweden)

    Ph. D. Candidate Anca Domnica Lupu

    2009-05-01

    Full Text Available Reality revealed a very important resource that can act for or against a business, its administration having a crucial influence.It is the intellectual capital we are talking about, mainly based on knowledge. Under the current economic situation we have to find that ideal solution that is able to get the economy out of the crysis, to find the blue ocean. The main question here is that if a correct evaluation of intellectual capital will help economies get their goals. The main idea we can withdraw out of these theories is that values have changed the ierarchy, that is the psyhical resources ceased their place to intangible assets that tend to become more and more important for the companies.

  18. [Public health in major socio-economic crisis].

    Science.gov (United States)

    Cosmacini, G

    2014-01-01

    The term "crisis" in different cultures (such as ancient Greece or China) can have a positive meaning, since it indicates a time of growth, change and opportunity. Over the centuries there have been times of severe economic and social crisis that led to the implementation of major reforms and improved population health. Nowadays, despite the new economic crisis which has also affected health care for its rising costs, health economics does not hesitate to affirm the importance of key objectives such as prevention and medical assistance. Prevention is not prediction. Prevention means "going upstream" and fixing a problem at the source; the goal is to reduce diseases' effects, causes and risk factors, thereby reducing the prevalence of costly medical conditions.

  19. THE INFLUENCE OF THE ECONOMIC CRISIS ON ROMANIA

    Directory of Open Access Journals (Sweden)

    VALENTINA MUNTEANU

    2013-05-01

    Full Text Available Macroeconomic developments in Romania have submitted inadequate development amid the financial and economic crisis deepened. The objective of this research is highlighting the impact of the economic crisis, deepening its effects at the national level. In Romania, the negative effects of the crisis begin to be more evident: lack of demand on the market, which the collapse of production and reduction of the amount of reports of police work. The economic crisis creates uncertainty. The uncertainty in the economy is, in fact, income insecurity – both for the company and for the employees. The unemployment rate is in a continuous growth and the population is increasingly affected. Crises do not constitute exceptional circumstances, because they tend to repeat it; at the same time, it must be stressed that these changes its form, that require a periodic review of their claims, as understanding more and more refined methodologies and a smooth integration of empirical research in theoretical solid construction. If all economic mechanisms would work perfectly balanced real economy should not deal with situations of crisis.

  20. Labour Markets Trends, Financial Globalization and the current crisis in Developing Countries

    NARCIS (Netherlands)

    R.E. van der Hoeven (Rolph)

    2010-01-01

    textabstractThe current wave of globalization has profound labour market effects, accentuated, in many cases, by the current financial and economic crisis. This paper reviews general labour market trends and country examples, arguing that the current globalization process makes labour’s position mor

  1. Labour Markets Trends, Financial Globalization and the current crisis in Developing Countries

    NARCIS (Netherlands)

    R.E. van der Hoeven (Rolph)

    2010-01-01

    textabstractThe current wave of globalization has profound labour market effects, accentuated, in many cases, by the current financial and economic crisis. This paper reviews general labour market trends and country examples, arguing that the current globalization process makes labour’s position

  2. Contextualizing the current crisis: Post-Fordism, neoliberal restructuring, and financialization

    Directory of Open Access Journals (Sweden)

    Aaron Tauss

    2012-12-01

    Full Text Available The article argues that the current financial crisis that began unfolding in late 2007 cannot be explained merely by institutional failure, false economic theories, or human misbehavior. Instead, the crisis must be analyzed against the backdrop of the internal contradictions of capitalist accumulation and the gradual disintegration of the post-war hegemonic world order under U.S. leadership. The specifics of the crisis are inherently related to the failure of Fordism in the 1970s and the emergence of a post-Fordist, neoliberal, and finance-driven regime of accumulation that was pushed to its limits in the lead-up to the current downturn.

  3. The economics of the oil crisis

    Energy Technology Data Exchange (ETDEWEB)

    Bina, C.

    1985-01-01

    The author, a former financial analyst with the treasury department of Iran, provides an analysis of the origin of the oil crisis of 1973 and reviews various alternate theories put forward to explain it. Seeing the origin of the crisis in terms of competition rather than monopoly, Bina demonstrates that with the internationalization of capital in the oil industry, a new regulating value emerged from the cost of production of relatively unproductive and declining fields in the US, and that the growing gap between this and the individual values produced in other oil regions, such as the Middle East, set the stage for the restructuring of the entire industry - leading to an unprecedented price increase. Thus, the establishment of a new, higher level of value, oil rent, market and 'posted' prices was the outcome of objective developments rather than the result of arbitrary decisions on the part of cartels like OPEC.

  4. The correlation between stress and economic crisis: a systematic review

    Directory of Open Access Journals (Sweden)

    Mucci N

    2016-04-01

    Full Text Available Nicola Mucci,1 Gabriele Giorgi,2 Mattia Roncaioli,3 Javier Fiz Perez,2 Giulio Arcangeli11Department of Experimental and Clinical Medicine, University of Florence, Florence, 2Department of Psychology, European University of Rome, Rome, 3Department of Biomedical Sciences for Health, University of Milan, Milan, ItalyAbstract: In 2008 a deep economic crisis started in the US and rapidly spread around the world. The crisis severely affected the labor market and employees’ well-being. Hence, the aim of this work is to implement a systematic review of the principal studies that analyze the impact of the economic crisis on the health of workers. We conducted our search on the PubMed database, and a total of 19 articles were selected for review. All studies showed that the economic crisis was an important stressor that had a negative impact on workers’ mental health. Most of the studies documented that a rise in unemployment, increased workload, staff reduction, and wages reduction were linked to an increased rate of mood disorders, anxiety, depression, dysthymia, and suicide. Some studies showed that problems related to the crisis may have also affected the general health of workers by increasing the risk of such health problems as cardiovascular and respiratory diseases. Finally, some studies looked at the impact of the crisis on health care services. These studies demonstrated that the reduction in public expenditure on health care services, and the reduction of public hospital budgets due to the recession, led to organizational problems (eg, medical supply shortages.Keywords: economic crisis, recession, work-related stress, mental health, risks assessment, occupational medicine

  5. Goals, ways and the roots of our economic crisis

    Directory of Open Access Journals (Sweden)

    Bob Goudzwaard

    2014-08-01

    Full Text Available This article deals with the question if and how far religious points of view and messages of churches involved matter in the analysis of the roots of the present global economic crisis, and even more in the discussion about how to overcome the crisis itself. Economic experts such as Stiglitz point to the presence of factors such as greed, fear and utmost selfish behaviour. It inevitably leads to the ethical, but in fact also the religious question of how far people, especially economic agents, can go in the pursuit of their own economic interests without doing harm to others. Jesus asked his disciples to follow him: with Bonhoeffer, we could call that a Way-orientation. Where and how far can a conflict therefore arise between human goal-orientations, on the one hand, and a biblical Way-orientation, on the other hand? And is it indeed relevant when considering our present economic crisis? This article defends the last position, describing some categories (such as the choice of ultimate meaning, the sacro-sanctity of chosen instruments, and the demonisation of opponents which indicate that the borderline has been passed between responsible and irresponsible goal-orientations. The glorification of greed and the delegation of ultimate power to financial markets indicate that at this moment elements of idolatry (or the obedience to Mammon are at hand. They are also aggravating the present economic crisis. This implies that returning to the choice for decisive normative Way-orientations in economic life is possibly the only true way out of the present economic crisis.

  6. Current research directions definition of economic security

    Directory of Open Access Journals (Sweden)

    Anna Falovych

    2013-05-01

    Full Text Available The article features the topical issue of the established level of the enterprise's economic security. The objective of this article is to research, to base and to supplement the tendency for generalization of the categorical system in order to clarify the matter meaning of the enterprise's economic security. The systematized analyses of the matter meaning of the enterprise's economic security were done by domestic and foreign scientists-economists. The results of the study were expounded and also some vital approaches to the definition of the enterprise's economic security were presented and proved particularly: strategically, resource-functional, marketable, combined, deductive, systematic and criminal.Based on the analyzed content-conceptual interpretations and detailed characteristics of each approach to the definition of this meaning, there was proposed its own meaning of the interpretation of the enterprise's economic security. A systematic approach was adopted due to the matters concerning enterprise's economic security. As in this approach the vital economic interests of thee enterprise were stipulated, also gained the topicality in the current crisis economic conditions

  7. The Economic Crisis and Sustainable Development

    DEFF Research Database (Denmark)

    Lund, Henrik; Hvelplund, Frede

    2012-01-01

    This paper presents Concrete Institutional Economics as an economic paradigm to understand how the wish for sustainable energy in times of economiccrisis can be used to generate jobs as well as economic growth. In most countries, including European countries, the USA and China, the implementation...... of sustainable energy solutions involves the replacement of imported fossil fuels by substantial investments in energy conservation and renewable energy (RE). In such situation, it becomes increasingly essential to develop economic thinking and economic models that can analyse the concrete institutions in which...

  8. Adaptation of the tourism in Romania to the new economic context imposed by the global economic crisis (in 2010)

    OpenAIRE

    2013-01-01

    The global economic crisis affected the tourist market from Romania since 2008. 2010 was for the Romanian tourism enterprises the year of successful attempts to respond to the economic and social stimuli imposed by the economic crisis. The way in which they managed to cope with the crisis shows that solutions are available to those who adapt to the conditions of fierce competition. The global economic crisis rippled its effects in all areas of activity, tourism included. Some field entreprene...

  9. THE ROMANIAN BANKING SYSTEM DURING THE ECONOMIC-FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    MAGDALENA RĂDULESCU

    2014-06-01

    Full Text Available The Romanian banking system was hit by the financial crisis in 2008 and the banking credit activity almost stopped for a few years. National Bank of Romania tighted the credit conditions and imposed strong regulations for banks. After the peak of the crisis, the credit conditions become lax again, trying to re-launch the economic activity by credit, but the effects in the economy didn’t appear until the end of 2013. Our banking system exposure to the foreign capital banks (Greek or Austrian and the political crisis in some European countries (Greece and Ukraine didn’t help either and increased the banking risks. Although the fundamentals of the Romanian banking system were sound, it faced the crisis well but it couldn’t support the recovery of our economy.

  10. The EU Economic Crisis – Reflections in the Opinions of Citizens and Experts

    Directory of Open Access Journals (Sweden)

    Nicoleta Corbu

    2013-09-01

    Full Text Available Perhaps one of the most important challenges that the EU is currently facing is that of building public support for the Union project as the economic crisis develops, confidence in the EU future is weakened and member states turn to their own boundaries. Therefore, this research aims at identifying the public opinion on the economic future of the European Union in the particular context of the euro crisis, given the fact that utilitarian considerations represent a key driver for the Europeanization process. At the same time, we compare expert opinions about the impact of the crisis on the future of the European Union, as well as the perceptions of ordinary people. To accomplish the research goals, we conducted expert interviews with 11 of the most prominent economic experts in Romania and a national survey (N=1002. The study supports the perspective that citizens’ opinions about the economic evolution of the European Union are largely based on their sociotropic and egocentric economic assessments. The crisis influences the perspectives on the EU, but only by tempering optimism, turning it into a moderate view. This result can be extended to other Central-Eastern states as well, due to their resembling paths. Also, experts indicate various scenarios when referring to the impact of the crisis on the EU’s future, but beyond the variations, the prospects are neither optimistic, nor pessimistic, but rather moderate.

  11. The Relationship Between Governance and Economic Growth During Times of Crisis

    Directory of Open Access Journals (Sweden)

    Bassam A. AlBassam

    2013-06-01

    Full Text Available The current economic crisis has affected all aspects of life, resulting in political instability,personal financial troubles, and a growing number of business bankruptcies. Although these areserious issues, simply developing a government policy that injects an economy with money is notan appropriate means to achieve economic recovery and long-term economic development unlesscombined with an effective and efficient governing system. The present article examines whetherthe strong relationship between governance and growth exists during economic crises or onlyduring non-crisis periods. The results of the current paper demonstrate that the global economiccrisis has had an unnoticeable influence on the relationship between governance and economicgrowth. However, this study found that different levels of development of nations affect therelationship between governance and growth in various ways during times of crisis. Thus, theresults of the current paper highlight the instability in the relationship between governance andeconomic growth during the economic crisis; this unsteadiness is a sign of the need for long-termstrategies to promote global and national good governance practices that are not adverselyaffected by crises.

  12. Current Economic Situation in Bosnia and Herzegovina

    Directory of Open Access Journals (Sweden)

    Goran Mirascic

    2011-11-01

    Full Text Available This article provides an overview of the current economic situation in Bosnia and Herzegovina. Beginning in the second half of 2008, macroeconomic conditions in B&H began precipitating a decline in economic activity. While the global financial crisis was among the factors contributing to this decline, it was far from the only factor. Problematic macroeconomic conditions were also a result of B&H’s own structural and political problems, caused largely by the shortcomings of a political entity comprising two autonomous entities. Due to such problems, the governments of B&H turned to the International Monetary Fund for assistance. This article analyzes the effects of the first two “stand by” arrangements made between the IMF and B&H and discusses implications for further, ongoing stand by arrangements made between the IMF and B&H. This paper also examines the lack of unified economic space between The Federation of Bosnia and Herzegovina and The Republic of Srpska, which has resulted not only in ineffective monetary policy but also in different fiscal and taxation systems between the two entities. While various existing analyses claim that B&H has little hope of resolving its economic woes due to its current political and economic structure, this article offers solutions and measures that, if successfully implemented, would lead to more efficient recovery and self-sustainable economic growth.

  13. Global'naja jenergeticheskaja i jekologicheskaja bezopasnost' v uslovijah sovremennogo mirovogo jekonomicheskogo krizisa [Global energy and environmental security in the current global economic crisis

    Directory of Open Access Journals (Sweden)

    Kosov Yuri

    2010-01-01

    Full Text Available This article considers the problems of the environmental impact of energy. Further reduction of this impact on the global environment can be achieved two ways. The short-term one implies the increase in energy efficiency. In the next 15—20 years, the increase in efficiency should become a priority of the energy policy of all states. The long-term one is based on the gradual expansion of renewable energy. This method is aimed to avoid further economic and energy crises. At the same time, it has an important environmental aspect. Experts claim that the new area of global energy should be less costly than the traditional ones.

  14. Global'naja jenergeticheskaja i jekologicheskaja bezopasnost' v uslovijah sovremennogo mirovogo jekonomicheskogo krizisa [Global energy and environmental security in the current global economic crisis

    OpenAIRE

    Kosov Yuri; Mallon V.

    2010-01-01

    This article considers the problems of the environmental impact of energy. Further reduction of this impact on the global environment can be achieved two ways. The short-term one implies the increase in energy efficiency. In the next 15—20 years, the increase in efficiency should become a priority of the energy policy of all states. The long-term one is based on the gradual expansion of renewable energy. This method is aimed to avoid further economic and energy crises. At the same time, it ha...

  15. Health, Education and Economic Crisis : Protecting the Poor in Indonesia

    NARCIS (Netherlands)

    Sparrow, R.A.

    2006-01-01

    When an economic crisis hits, a primary policy concern in developing countries is how social services can be protected and, in particular, how access to health and education for the poor can be maintained. Using the Indonesian Social Safety Net (SSN) as case study, this dissertation investigates

  16. Leaders Urge Colleges to Think Globally Despite Economic Crisis

    Science.gov (United States)

    McMurtrie, Beth; Wheeler, David

    2008-01-01

    The global economic crisis has accelerated the fear that the United States' international power is fading. It has also made clear the need for American higher education to engage more deeply with the rest of the world, not run from it. That was the consensus among a group of presidents and provosts who met in New York this month as part of…

  17. Health, Education and Economic Crisis : Protecting the Poor in Indonesia

    NARCIS (Netherlands)

    Sparrow, R.A.

    2006-01-01

    When an economic crisis hits, a primary policy concern in developing countries is how social services can be protected and, in particular, how access to health and education for the poor can be maintained. Using the Indonesian Social Safety Net (SSN) as case study, this dissertation investigates th

  18. University Presidential Rhetoric and the 2008-2009 Economic Crisis

    Science.gov (United States)

    Vitullo, Elizabeth; Johnson, Jason

    2010-01-01

    This paper reports on a study of Association of American Universities university presidents' public communications in response to the 2008-2009 economic crisis. The authors present findings from a thematic analysis of 111 letters. The authors highlighted 22 themes and present them within three major categories: factors external to the university;…

  19. Neighborhood decline and the economic crisis: An introduction

    NARCIS (Netherlands)

    Van Kempen, R.; Bolt, G.; Van Ham, M.

    2016-01-01

    Urban neighborhoods are still important in the lives of its residents. Therefore, it is important to find out how the recent global financial and economic crisis affects these neighborhoods. Which types of neighborhoods and which residents suffer more than others? This introduction provides an overv

  20. THE IMPACT OF ECONOMIC CRISIS ON THE FISCAL REVENUES

    Directory of Open Access Journals (Sweden)

    Inceu Adrian

    2009-05-01

    Full Text Available This paper tries to evaluate the situation of the fiscal revenues in Romania in the context of economic and financial crisis, because the fiscal revenues are the major source of financing the public expenditure. The evolution of the level of fiscal revenu

  1. The Financial Crisis and Principles of Economics Textbooks

    DEFF Research Database (Denmark)

    Madsen, Poul Thøis

    2013-01-01

    How have authors of widely used U.S. introductory economics textbooks responded to the traumatizing financial crisis? The answer interests textbook authors as well as the users. An encompassing quantitative and qualitative text analysis that applies new methods demonstrates that in general, the f...

  2. Effects of Chinese Economic Stimulus Package on Economic Growth in the Post-Crisis China

    Directory of Open Access Journals (Sweden)

    Shenglv Zhou

    2011-01-01

    Full Text Available This paper aims to simulate the contribution of investment expansion policy after financial crisis as well as describe the possible economic perspectives in the post-crisis period by using scenario simulation method based on Chinese dynamic economic CGE (computable general equilibrium model. Energy consumption and CO2 emission are also considered in order to access the possible negative effects owing to investment enlargement. The results show that expanding investment response to financial crisis increases economic growth rate by 6.74% from 2.36% in 2009. It can relieve the fluctuation in economy and bring the economic growth close to baseline level in the near post-crisis period. However, higher energy consumption intensity and CO2 emission intensity compared to baseline owing to the increasing investment make energy saving and CO2 mitigation more difficult.

  3. [Sexual and reproductive health and the economic crisis in Spain. SESPAS report 2014].

    Science.gov (United States)

    Larrañaga, Isabel; Martín, Unai; Bacigalupe, Amaia

    2014-06-01

    Sexual and reproductive health (SRH) is protected by the public authorities to ensure that people enjoy a free, satisfying, and safe sexual life. Despite the approval of the National Sexual and Reproductive Health Strategy in 2011, the progress achieved may be jeopardized by recent proposals for legislative changes affecting this area (abortion Law and 16/2012 Law) and by the impact of the current economic crisis. This article aims to describe the current situation of sexual and reproductive health in the Spanish population and to identify the potential impact of the economic crisis. To this end, we used the following information sources: the National Sexual Health Survey, the DAPHNE surveys, births and fetal deaths statistics from the Spanish National Institute of Statistics, the Registry of Voluntary Pregnancy Interruptions, reports from the National Epidemiology Center, and the National AIDS Registry. Sexual health and the availability of information are rated as good by the Spanish population. Among young people, schools and health services have become less important as information sources and the internet has become more important. Since the beginning of the crisis, contraceptive use and fertility have declined and maternity has been delayed. The economic crisis seems to have affected some indicators of sexual and reproductive health. However, the potential effects on other indicators should continue to be monitored because insufficient time may have passed for accurate determination of the full effect of the crisis. Copyright © 2013 SESPAS. Published by Elsevier Espana. All rights reserved.

  4. The Dutch Crisis and Recovery Act: Economic Recovery and Legal Crisis?

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    J Verschuuren

    2010-12-01

    Full Text Available In the Netherlands, the 2010 Crisis and Recovery Act aims at speeding up decisionmaking on a wide variety of activities, hoping that after the financial and economic crisis has passed, development projects can immediately be carried out without any delay caused by legal procedures in court or elsewhere. The Act meets great criticism for many reasons: it allegedly curtails citizen's procedural rights because it focuses almost exclusively on environmental standards as "obstructing" standards that need to be removed, and it infringes international and European Union law. In this note, the legal critique on the Act is analysed. The conclusion is that the sense of urgency surrounding the design of legal measures to address the economic crisis enables the legislature to implement innovations and long-time pending amendments to existing legislation. Most issues have however not been fully or properly considered. Many legal questions will arise when implementing the Act, which will retard rather than expedite projects. It is difficult to predict whether the positive effects of the Crisis and Recovery Act would outweigh the negative aspects. Much depends on the manner in which the authorities will actually apply the Act. Should they implement the Act to its full potential, the effect of the Act in sum will be negative. In that case, the Act may help the economy to recover, but it will bring about a crisis in the legal system. It will, in all probability, also not contribute to sustainable development.

  5. America’s Economic Crisis and Europe’s Hamletian Dilemma

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    Loredana RADU

    2013-05-01

    Full Text Available The current paper aims to present briefly, yet clearly, the key developments of the complex phenomenon that is usually labeled as the ”global economic crisis”. Furthermore, the paper reveals some of the contagion mechanisms that transformed the American banking crisis into “Europe’s existential crisis”. The paper builds on a general consent that seems to be emerging among scholars and politicians – “the crisis in Europe is existential. It is a question of whether the EU survives as a recognizable entity.” (Giddens, 2012. We totally agree with the fact that the American crisis and the European crisis could (and should be now treated as two separate realities. However, these realities have emerged from the same root cause,  which means that in order to understand why Europe is now struggling with its Hamletian dilemma, one should first take a close look behind the scenes of global economy.

  6. Prostitution in times of economic crisis: effects, human agency and societal responses

    OpenAIRE

    Persak, Nina

    2012-01-01

    In times of economic hardship both formal and informal economy are affected. The paper begins by inspecting the characteristics of the informal economy, some of which may act as disadvantages as well as advantages, addressing prostitution as one type of informal economic activity. Looking at the available data, we then observe in which way and to what extent the current global financial crisis has affected the informal economy, in general, and prostitution, in particular. Next, we examine the...

  7. CHALLENGES OF THE ECONOMIC AND MONETARY UNION IN THE CONTEXT OF THE ECONOMIC CRISIS

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    Ioana Laura Văleanu

    2012-12-01

    Full Text Available The economic and financial crisis which has affected the world economy since 2008 raised a question mark regarding the viability of the Economic and Monetary Union and the future of the euro. Themain objective of this paper is to identify the amplitude of the effects of the economic crisis on the functioning and stability of EMU. Following the main objective, the study is meant to analyze the theoretic fundamentals which were at the basis of the creation of EMU and an analysis of the financial policies and instruments meant to render stability and sustainable economic growth in the countries of the Eurozone.

  8. Protecting Pakistan's health during the global economic crisis.

    Science.gov (United States)

    Jooma, R; Khan, A; Khan, A A

    2012-03-01

    The world is facing an unprecedented global economic crisis, with many countries needing to reconsider their level of health care spending. This paper explores the many consequences of the global economic turndown on Pakistan's health, including reduced government and donor spending and increased poverty with the consequent diversion of funds away from health. Nevertheless, these challenges may provide opportunities not only to mitigate the adverse effects of the economic crisis but also to institute some much-needed reforms that may not receive political support during more affluent times. Our suggestions focus on setting priorities based on the national disease burden, prioritizing prevention interventions, demanding results, curbing corruption, experimenting with innovative funding mechanisms, advocating for increased funding by presenting health spending as an investment rather than an expense and by selected recourse to civil society interventions and philanthropy to bridge the gap between available and needed resources.

  9. Back to oil: Indonesia economic growth after Asian financial crisis

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    Heru Iswahyudi

    2016-04-01

    Full Text Available This paper examines the growth experience of Indonesia in the years before and after the Asian financial crisis. Particular attention is paid to the relationship between economic growth and petroleum sector’s total factor productivity (TFP. It finds the possibility that post-crisis Indonesian economic growth has ‘recoupled’ with petroleum sector’s TFP – fluctuations in petroleum TFP is directly correlated with fluctuations in economic growth. Further, although keeping Indonesia’s petroleum sector open to fair competition should be the prime policy, the fact regarding resource nationalism might need to be taken into account in designing the policy to develop the productivity of Indonesia’s petroleum sector.

  10. Economic Recovery after the Crisis and the Cohesion Policy

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    Dimitrescu Mihaela

    2013-12-01

    Full Text Available Even European Union was considered a strong institution, US crisis covered the european area. All 27 countries UE members are involved in a hard work related to euro aria future and meanwhile in stability strategy. Concerning economic dimension of crisis gouvernments found out how vulnerable they are becouse of an unequal sates involvment in solving recesion problems, becouse some countries have to addopt efficient finacial and economic austerity decisions and other ones not. Starting 1930 until today, European Union developed economic relations among members, using Structural Funds too. This financial instrument could bean efficient support for reducing crisiss. What could be benefic for Romania, as a noneuro country, in order to diminuate the dimension of crissis and to develop a solid market economy?

  11. The international financial crisis: Theoretical debates, economic policies, and lessons

    Directory of Open Access Journals (Sweden)

    Juan E. Santarcángelo

    2014-01-01

    Full Text Available The global financial crisis has had a strong impact on most European countries. While at first the massive injection of resources helped the financial system not to collapse, the austerity policies implemented throughout the continent have not brought the expected economic growth. Interestingly, the type of intervention undertaken is rooted in the neoclassical tradition, which entails a specific understanding of the functioning of the financial system and the economy. In this context, the objectives of this paper are firstly, to analyze the main theoretical assumptions and the specific way in which the crisis is understood and the applied economic policies are developed under this tradition; and secondly, to account for the social and economic impact of the policies applied, and the different margins of action that each European country still has.

  12. Harmful drinking after job loss: a stronger association during the post-2008 economic crisis?

    Science.gov (United States)

    de Goeij, Moniek C M; Bruggink, Jan-Willem; Otten, Ferdy; Kunst, Anton E

    2017-06-01

    This study investigated, among the Dutch working population, whether job loss during the post-2008 economic crisis is associated with harmful drinking and whether this association is stronger than before the crisis. Repeated cross-sectional data from the Dutch Health Interview Survey 2004-2013 were used to define episodic drinking (≥6 glasses on 1 day ≥1/week) and chronic drinking (≥14 glasses/week for women and ≥21 for men). These data were linked to longitudinal data from tax registries, to measure the experience and duration of job loss during a 5-year working history. Before the crisis, job loss experience and duration were not associated with harmful drinking. During the crisis, job loss for more than 6 months was associated with episodic drinking [OR 1.40 (95% CI 1.01; 1.94)], while current job loss was associated with chronic drinking [OR 1.43 (95% CI 1.03; 1.98)]. These associations were most clear in men and different between the pre-crisis and crisis period (p interaction = 0.023 and 0.035, respectively). The results suggest that economic crises strengthen the potential impact of job loss on harmful drinking, predominately among men.

  13. Yugoslavia's Economic Crisis: the Price of Overexpansion

    NARCIS (Netherlands)

    W. Burger (Willem)

    1984-01-01

    textabstractYugoslavia is one of the rapidly industrialising countries which has had a record of very high rates of economic growth over the past decades and which is now balancing on the brink of bankruptcy. That its grave financial problems have not attracted as much international attention as tho

  14. [Economic crisis and mental health. SESPAS report 2014].

    Science.gov (United States)

    Gili, Margalida; García Campayo, Javier; Roca, Miquel

    2014-06-01

    Studies published before the financial crisis of 2008 suggest that economic difficulties contribute to poorer mental health. The IMPACT study conducted in primary health care centers in Spain found a significant increase in common mental disorders. Between 2006 and 2010, mood disorders increased by 19%, anxiety disorders by 8% and alcohol abuse disorders by 5%. There were also gender differences, with increased alcohol dependence in women during the crisis period. The most important risk factor for this increase was unemployment. In parallel, antidepressant consumption has increased in recent years, although there has not been a significant inrease in the number of suicides. Finally, the study offers some proposals to reduce the impact of the crisis on mental health: increased community services, employment activation measures, and active policies to reduce alcohol consumption and prevent suicidal behavior, particularly among young people. Copyright © 2013 SESPAS. Published by Elsevier Espana. All rights reserved.

  15. ECONOMIC CRISIS AND FOREIGN DIRECT INVESTMENTS IN ROMANIA

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    E. Bako

    2015-10-01

    Full Text Available Foreign direct investments represent an essential factor of economic development and growth at all levels: national, regional and local (county. The authors analyse the evolution of foreign direct investments in Romania over the last decade, taking into consideration the influence of the economic and financial crisis, different territorial levels, types of foreign investments, the economic activities and also the main countries of origin. The aim of the paper is to explain some of the reasons for the illustrated evolution of FDI and to reveal some policy implications for the future period.

  16. THE CAUSES OF ECONOMIC CRISIS. A BEHAVIORAL FOUNDATION.

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    Soim Horatiu Florin

    2012-07-01

    Full Text Available The cyclical path of economy is a common place in the economic theory. The economic crisis that started in 2007 was not only one of the most severe since the WWII but it came unexpectedly. The cause of the crises and of the surprise consists in the economic models and theories that were founded on the rationality and maximization behavior of the economic actor. People lack the rationality the mainstream economics assume. This is why both economists and simple people do not act as theory predicts and finally economy does not tend toward equilibrium but suffers recurrent crises. This crisis started as a financial one, because of the subprime loans made in USA, but have spread in production sector because of credit frozen, is now in transforming into a social crisis because of austerity measures taken by governments. The paper analyzes the theoretical foundation of economic theory and how the facts that characterize the recent economic evolution fit with the non mainstream theories. It presents the figures of the economic evolution in the last 3 years and explains them based of the agent’s behavior described by Herbert Simon and Daniel Kahneman. Their challenge of mainstream economics is based on an analyze of human behavior. Herbert Simon introduced the concept of bounded rationality as opposed to perfect rationality postulated by neoclassic economics and Daniel Kahneman realized experiments that proved that people cannot stick with the performances assumed by mainstream economics. Their conclusion permit to understand the approach of George Soros who says that people actions are bounded by reflexivity and as a consequences sometimes economy move not toward but far from equilibrium, creating bubbles that end in financial and economic crises. As Akerlof mention the cause of the crisis is the reliance of a false theory which said that we are safe. The conclusion is that we need new theories more close to the real life and an agent description

  17. The impact of the global economic crisis on working capital of real sector in Turkey

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    Suleyman Gokhan Gunay

    2011-01-01

    Full Text Available Objective of this study is to reveal the impact of the recent global economic crisis, triggered in 2007 and unveiled in 2008, on the working capital of real sector in Turkey. Since it is obvious that ratios would help in such an analysis, we analyzed the current assets and liabilities related ratios, based on financial statements of Turkish real sector firms, quoted in the Istanbul Stock Exchange (ISE. Pre-crisis era has been compared with the crisis era, while the degrees of the affection of the real sector current assets and current liabilities have been tested through hypotheses, and two-tail-significance test has been conducted. The results of this study draw conclusions from an empirical investigation showing that, the 45 ISE companies chosen among others have been affected on a limited basis.

  18. Economic development strategies of regions of Russia: system crisis and new economic space

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    Aleksandr Borisovich Gusev

    2013-12-01

    Full Text Available To assess the strength of internal economic space of Russia and the positiveness of the interregional economic relations, the paper investigates the types of economic interaction of federal districts by means of “predator-prey” models. The strategic economic breaks between the European and East parts of the country are revealed. The accelerated economic growth of East part of the country is predicted that will allow to reach about the same volume of Gross Regional Product (GRP as GRP in the European part of Russia by 2020. With the help of model constructions the typology of integration crises of federal districts with each other is revealed: back-to-back paralyzing of economic activity (A crisis; mutual destruction (B crisis; economic indifference (C crisis; transition of a role of «predator» to the economically weak territories (D crisis. Macroeconomic threat and challenge to the territorial integrity of Russia is proved due to the state support of regions of the North Caucasus Federal District without involvement of intro regional sources of economic growth, and due to the accelerated economic development of the Far East Federal District. The limited opportunities of the Ural Federal District to support the national economy during a crisis at the expense of export of energy carriers is concluded. The thesis about the low sensitivity of the economy of Russia to the increase of the oil world prices, and about sensitivity to the negative external economic conditions are reasonable. Estimates of the GRP decrease in Russia at the various levels of decrease in the world prices for oil (up to 50 US dollars for barrel are received and given. The package of measures on response to the threats revealing to the internal economic space and territorial integrity of the country is presented.Keywords: regional economy, regional economic integration, federal districts, “predator-prey” model

  19. Indonesia: The Economic Crisis 1997-1998.

    Science.gov (United States)

    1998-06-01

    Sabotage Should Be An International Crime, Third World Network Features, August 1997. 130 Paul Krugman , Currency Crises. 152 such a way...137 Paul Krugman , Currencies and Crises, p.xiv-xv, 1992, the MIT Press, Cambridge, Massachusetts, London, England. 157 158 V...Grauwe, Economic and Monetary Turmoil, Financial Times, February 20, 1998. Paul Krugman , Currencies and Crises, p.xiv-xv, 1992, the MIT Press

  20. Actions to alleviate the mental health impact of the economic crisis.

    Science.gov (United States)

    Wahlbeck, Kristian; McDaid, David

    2012-10-01

    The current global economic crisis is expected to produce adverse mental health effects that may increase suicide and alcohol-related death rates in affected countries. In nations with greater social safety nets, the health impacts of the economic downturn may be less pronounced. Research indicates that the mental health impact of the economic crisis can be offset by various policy measures. This paper aims to outline how countries can safeguard and support mental health in times of economic downturn. It indicates that good mental health cannot be achieved by the health sector alone. The determinants of mental health often lie outside of the remits of the health system, and all sectors of society have to be involved in the promotion of mental health. Accessible and responsive primary care services support people at risk and can prevent mental health consequences. Any austerity measures imposed on mental health services need to be geared to support the modernization of mental health care provision. Social welfare supports and active labour market programmes aiming at helping people retain or re-gain jobs can counteract the mental health effects of the economic crisis. Family support programmes can also make a difference. Alcohol pricing and restrictions of alcohol availability reduce alcohol harms and save lives. Support to tackle unmanageable debt will also help to reduce the mental health impact of the crisis. While the current economic crisis may have a major impact on mental health and increase mortality due to suicides and alcohol-related disorders, it is also a window of opportunity to reform mental health care and promote a mentally healthy lifestyle.

  1. Economic crisis: impact on the health of citizens and consequences on health systems

    Directory of Open Access Journals (Sweden)

    Karaiskou A.

    2012-04-01

    Full Text Available The current status of the economy, for which the term financial crisis of 2008 was used, began from the US and evolved due to the globalization crisis internationally to a composite of the economy with the result today to talk more about economic downturn or crisis for many low-and middle-income countries. Employment is one of the main areas affected during an economic crisis and consequently the unemployment rate and employment insecurity rise sharply. The last 20 years in all relevant studies have shown that unemployment and insecurity are leading to loss of prosperity and poverty and have dramatic though not absolutely clarified effects on health. The majority of them indicate the proportional relationship between long-term unemployment with an increased risk of premature mortality and morbidity from cardiovascular diseases and especially mental disorders that prevent a new round of problems such as suicides and violent deaths (fatalities, crimes, deaths from overdose of alcohol and drugs. WHO warns that the negative effects of the crisis will be much, for developing countries with reduced financial support, for developed countries which have requested emergency aid from the IMF but also for sensitive population groups within the powerful economic countries while their restriction appears to be based on political and economic support. The economic crisis also creates problems in the finance of health systems, while at the same time bear the function of public health services due to increased demand. The need for proper allocation of scarce financial resources oriented towards the principles of social justice and solidarity becomes even more urgent today.

  2. Global health and the global economic crisis.

    Science.gov (United States)

    Benatar, Solomon R; Gill, Stephen; Bakker, Isabella

    2011-04-01

    Although the resources and knowledge for achieving improved global health exist, a new, critical paradigm on health as an aspect of human development, human security, and human rights is needed. Such a shift is required to sufficiently modify and credibly reduce the present dominance of perverse market forces on global health. New scientific discoveries can make wide-ranging contributions to improved health; however, improved global health depends on achieving greater social justice, economic redistribution, and enhanced democratization of production, caring social institutions for essential health care, education, and other public goods. As with the quest for an HIV vaccine, the challenge of improved global health requires an ambitious multidisciplinary research program.

  3. THE INDONESIAN STOCK MARKET PERFORMANCE DURING ASIAN ECONOMIC CRISIS AND GLOBAL FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    MARIA PRAPTININGSIH

    2011-04-01

    Full Text Available Volatility in the stock market had strongly affected by the movement of publicly or even inside information. The movements of this information will generate the perspectives and expectations of investors in decision-making. How strong is the level of market efficiency in determining the movement of stock market, especially to achieve stability in the stock market during the economic crisis? How effective are the policies of central banks in controlling the movement of the stock market? This study aims to measure the factors that influence changes in the movement of stock price in Indonesian stock market in terms of market efficiency hypothesis. This research also aims to investigate the effectiveness of central bank policy in controlling and stabilizing the movement of stocks in Indonesia. The research will focus on the economic crisis in 1997 and the global crisis in 2008 as case studies. Thepaperutilizesthe vector error-correction model, impulse responses and variance decomposition in measuring the contribution of the factors that affect the movement of stock and determine the effectiveness of central bank policy. The findings are beneficialto central banks, governments, companies and investors in strengthening the Indonesian Stock Market particularly in facing the threat of financial crisis.

  4. Economic policy dilemmas in front of the crisis

    Directory of Open Access Journals (Sweden)

    Alessandro Roncaglia

    2010-01-01

    Full Text Available The article is an introduction to the new issue of the Journal. It provides an overview of the current economic and financial situation and summarises the main topics dealt with by the following articles. Retrenchment of public expenditure is once again being called for by international agencies as well as by leading economists and politicians. The irony of this all is that by rescuing financial institutions the policy authorities – which up to now have totally ignored the problems posed by an excessive increase of private debt, focusing attention on public debt alone – have dealt with a crisis originating in the private debt area by shifting part of its weight to the public sector. This should call for some reconsideration of macroeconomic views. In any case, for any individual country considered in isolation, it is rather difficult to ignore the mainstream recommendations. Countries with already large public deficits and debt risk coming under attack on the side of financial speculation if they ignore the consensus recipes. Financial markets can then foresee a spiral of growing public expenditure for interest payments, growing deficits and growing public debt, further increasing the spread up to the point of collapse. Fiscal retrenchment then takes place, so to say, at gunpoint. There is little choice, thus, for many countries on the sign of their fiscal policies. However, this constraint leaves various options open.

  5. Terminological naming of the world economic crisis in the intertwining of Economics and Medicine

    Directory of Open Access Journals (Sweden)

    Ieda Maria Alves

    2016-06-01

    Full Text Available This paper presents some results concerning the Project Cultural and educational values in specialized metaphor: multiple images of the world economic crisis in print media, which is being developed under Capes-DGPU Program, a cooperation program established between Brazil and Spain in order to support exchange and research among researchers and post-graduate students from Brazilian and Spanish universities. Based on the corpus of journalistic texts constituted within this project, we emphasize, in this paper, the relations between Economics and Medicine. These relations, established through metaphors and other figures, show how these two sciences establish intersections, which are reflected in the terminology of the world economic crisis.

  6. INDIVIDUAL CAREER IN THE CURRENT ECONOMIC CRISIS

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    Florin Alexandru LUCA

    2010-01-01

    Full Text Available Human resources represent the creative, active and coordinating element of the organisational activity, having a strong influence on the efficiency of the use of material, financial and information resources. The description of people as ”resources” highlights their importance and shows that their management requires high levels of genuine care and attention to people and professionalism. 2010 and 2011 are very difficult years for those who want to find a job. Flexibility and a decent salary are the reference words. The economy in a turbulent situation does not guarantee the safety of the jobs. The university graduates must make efforts and prove to have communication skills in order to obtain or keep the desired position. Our paper focusses on the aspects of career development for the young university graduates, thus treating a subject of wide interest these days.

  7. Economic crisis and the automotive industry in Romania

    Directory of Open Access Journals (Sweden)

    Iosip, A.

    2010-12-01

    Full Text Available The economic crisis has affected many areas but the auto industry is perhaps one of the most affected. Renault, Ford, General Motors, Toyota, Volkswagen, BMW are just some of the big players caught unprepared. Through this paper we propose an analysis of the automotive market in Romania in order to understand the sales decrease of the last two years. At the same time we aimed at understanding the reasons that led to a decrease in car sales, what were the measures taken by the government to stop this phenomenon and how the economic crisis influenced the automotive field in Romania. An objective image of the situation in the automobile market in Romania at this moment also requires an analysis of the marketing environment and the changes it has undergone over time. Last but not least we will try to find a series of measures to re-launch the car market in Romania.

  8. Teaching about the "Economic Crisis" Today. The Example of French "Economic and Social Sciences"

    Science.gov (United States)

    Coléno, Yves-Patrick; Blanchard, Hervé

    2017-01-01

    Purpose: In France at the high school the subject matter "Sciences Économiques et Sociales" (economic and social sciences) deals with the present economic crisis. We study the ways it is taught about: words, and explanatory patterns. Design/methodology/approach: We use a specific approach, that we call "semantic holism",…

  9. Competitive market for multiple firms and economic crisis

    CERN Document Server

    Tao, Yong

    2010-01-01

    The origin of economic crises is a key problem for economics. We present a model of long-run competitive markets to show that the multiplicity of behaviors in an economic system, over a long time scale, emerge as statistical regularities (perfectly competitive markets obey Bose-Einstein statistics and purely monopolistic-competitive markets obey Boltzmann statistics) and that how interaction among firms influences the evolutionary of competitive markets. It has been widely accepted that perfect competition is most efficient. Our study shows that the perfectly competitive system, as an extreme case of competitive markets, is most efficient but not stable, and gives rise to economic crises as society reaches full employment. In the economic crisis revealed by our model, many firms condense (collapse) into the lowest supply level (zero supply, namely bankruptcy status), in analogy to Bose-Einstein condensation. This curious phenomenon arises because perfect competition (homogeneous competitions) equals symmetric...

  10. The international financial crisis: Theoretical debates, economic policies, and lessons

    OpenAIRE

    Juan E. Santarcángelo; Lampa, Roberto

    2014-01-01

    The global financial crisis has had a strong impact on most European countries. While at first the massive injection of resources helped the financial system not to collapse, the austerity policies implemented throughout the continent have not brought the expected economic growth. Interestingly, the type of intervention undertaken is rooted in the neoclassical tradition, which entails a specific understanding of the functioning of the financial system and the economy. In this context, the obj...

  11. GLOBAL ECONOMIC CRISIS: A VIEW FROM SOUTH AFRICA

    OpenAIRE

    Patrick Bond

    2015-01-01

    Any analysis of the erratic unfolding of global economic crisis is bound to be hotly contested. This is particularly so in mid-1999, amid claims from Washington that the past two years' dangers of financial meltdown and deflation were averted and finally extinguished through a combination of policy measures and good fortune: slightly looser Federal Reserve monetary policy adopted in September 1998, in the immediate wake of the successful public-private bailout of the Long Term Capital Managem...

  12. ENTREPRENEUR OR EMPLOYEE IN THE CONTEXT OF ECONOMIC CRISIS?

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    CISMARIU (ZEPA Liliana

    2014-07-01

    The present work aims at identifying options for the residents of the Western region of the country, under the effect of the economic crisis, for entrepreneurship as an opportunity or for maintaining the employee status from the perspective of their personality or their values, bearing in mind at the same time the reduced experience, of less than 25 years, that our country’s residents have on the business market.

  13. The Economic Crisis and Labour Migration Policy in European Countries

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    Christiane Kuptsch

    2012-08-01

    Full Text Available This paper reviews changes in migration policies as a response to the 2008 financial and economic crisis and examines issues of migration governance. Countries in Europe opted to make new immigration more difficult, protected their labour markets for native born workers, encouraged the return of migrant workers and intensified efforts to curb irregular migration. Clear patterns or reasons for variation in policy responses are not discernible, but it is safe to say that only countries with a significant recent influx of migrants have taken high profile measures at all. The crisis has led to a shift in perspective of the State and its role in economics which is now seen as useful instead of undesired. Previously prevailing neo-liberal thought relegated the State to the “high politics” of sovereignty and security issues. The crisis has highlighted labour market issues, and migrants are now increasingly portrayed as economic agents instead of security threats. This offers room for the State to assert its protective role vis-à-vis migrant workers – a welcome development. The analysis has an International Relations/Political Economy perspective and is largely based on (official news releases and secondary sources.

  14. Aspects of Development Financing After the Financial and Economic Crisis

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    Bruno Gurtner

    2011-05-01

    Full Text Available Published by Palgrave MacmillanThe financial and economic crisis saw developing and emerging countries experience more severe setbacks in their growth rates than industrialised countries and they did not all have sufficient funds to finance robust stimulus measures. The major emerging economies have nevertheless recovered quickly and are currently the most important growth engines in the world economy.Private capital flows collapsed, leaving the global South with an overall deficit in financing. Greater official financing flows have not yet been able to compensate for the shortfalls and the slow increase in private capital flows since the end of 2009 has not been able to do so either. Overall, according to the UN, more capital flows from the South to the North than vice versa. The South thus continues to finance the North.Discussions regarding a reform of the global financial and economic order are ongoing but to date have had little impact on developing countries. The international financing institutions do have more funds at their disposal, but developing countries are still under-represented. The IMF and the World Bank have begun to question some of their previous dogmas. Opinions are divided on whether one can already speak of a new policy.The debate on the role of taxation in the mobilisation of local resources for development financing has intensified. Insight favouring comprehensive reforms of the taxation systems in developing countries has sharpened, but technical aid provided by industrialised countries to realise these reforms is still insufficient. Taxation is acquiring growing recognition as an instrument of State-building, democratisation and governance. The campaign to deal with international tax evasion and illicit capital flows is gaining momentum and the exchange of information on tax issues has improved. However, it is difficult to establish newer and more trenchant instruments for improved transparency, given the predominant

  15. ECONOMICAL – FINANCIAL CRISIS AND THE TOURISM TRENDS IN THE CRISIS PERIOD

    OpenAIRE

    2015-01-01

    Challenges generated by the global economic crisis, terrorism, epidemics, wich therefore directly affected global tourism industry, raised the global question to approach the tourism in a new vision, more complex. Thus, WTO and the World Travel & Tourism Council considered that this will be important condition for the reception destinations and local communities development. The new tourism ventures to include a new dimension of travel and tourism, as a mature response to a world more complic...

  16. An Examination of Leaders' Perceptions and Strategies in Addressing Faculty Recruitment, Retention and Support in Times of Economic Crisis

    Science.gov (United States)

    Little-Wiles, Julie M.

    2012-01-01

    Using the embedded case study method, this investigation described the experiences, relationships, and perspectives of administrative leaders within the higher education environment during the most recent economic crisis, specifically attempting to answer the question of, "How does an economic crisis, like the most current recession, impact a…

  17. Global Economic Crisis. Case Study on the Romanian Financial Market

    OpenAIRE

    Prof. Ph. D. Stelian Stancu; Ph. D. Candidate Madalina Oana Predescu

    2009-01-01

    The first part of the present paper proposes to study the concept of global financial system and the issues that led to outline its approach frame, as well as what effects could have the actual economic crisis on the global financial system and which are the factors considered to be the causes that generated economic crises in the last few years.Moreover, in this paper we refer to the concept of financial instability, more precise we underline the fact that banks can represent the main financ...

  18. The Role of the Euro During and After Economical Crisis

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    Daniela MATEI

    2010-08-01

    Full Text Available The impact of the single currency on international capital markets has been one of the most abiding features of the euro’s historical development. In response to the global financial and economic crisis, governments across the world are sorting to creating national deficit levels on a virtually unprecedented scale to plug gaping holes in public finances and propel economies towards recovery. As a result, borrowing conditions on global capital markets are taking on not only an economic, but also an intensely political significance.

  19. Economic Situation in Post-Crisis Russia

    Directory of Open Access Journals (Sweden)

    Galina Bodrova

    2013-01-01

    Full Text Available The global economy was slowing as well as the eurozone countries. Though Russia‘s economy held steady with the reported current account surplus, the large non-oil fiscal deficit requires concerted fiscal adjustment to reduce vulnerability in the face of new shocks. According to Mr. Putin emphasis has to be shifted away from the energy sector and toward new investments and infrastructure. A framework for creating and developing new sectors of the economy is to be provided for modernizing production units, mastering advanced production management methods and developing human assets

  20. Competitive market for multiple firms and economic crisis

    Science.gov (United States)

    Tao, Yong

    2010-09-01

    The origin of economic crises is a key problem for economics. We present a model of long-run competitive markets to show that the multiplicity of behaviors in an economic system, over a long time scale, emerge as statistical regularities (perfectly competitive markets obey Bose-Einstein statistics and purely monopolistic-competitive markets obey Boltzmann statistics) and that how interaction among firms influences the evolutionary of competitive markets. It has been widely accepted that perfect competition is most efficient. Our study shows that the perfectly competitive system, as an extreme case of competitive markets, is most efficient but not stable, and gives rise to economic crises as society reaches full employment. In the economic crisis revealed by our model, many firms condense (collapse) into the lowest supply level (zero supply, namely, bankruptcy status), in analogy to Bose-Einstein condensation. This curious phenomenon arises because perfect competition (homogeneous competitions) equals symmetric (indistinguishable) investment direction, a fact abhorred by nature. Therefore, we urge the promotion of monopolistic competition (heterogeneous competitions) rather than perfect competition. To provide early warning of economic crises, we introduce a resolving index of investment, which approaches zero in the run-up to an economic crisis. On the other hand, our model discloses, as a profound conclusion, that the technological level for a long-run social or economic system is proportional to the freedom (disorder) of this system; in other words, technology equals the entropy of system. As an application of this concept, we give a possible answer to the Needham question: “Why was it that despite the immense achievements of traditional China it had been in Europe and not in China that the scientific and industrial revolutions occurred?”

  1. ASPECTS OF THE ECONOMIC CRISIS INFLUENCE ON THE ROMANIAN CONSUMER BEHAVIOR

    OpenAIRE

    TOMA ANDREI

    2015-01-01

    This paper aimed to study several aspects of the economic crisis influence on the Romanian consumer behavior. In the first part of the paper, I have presented the relevant economic factors, which are certainly among the factors that determine behavior, among other factors. I then briefly presented the economic crisis impact on Romania. The last part includes aspects of the influences of the economic crisis on Romanian consumer behavior. I used as data sources: consumer behavior literature, st...

  2. The Financial and Economic Crisis and Developing Countries

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    Bruno Gurtner

    2010-03-01

    Full Text Available Developing countries were hit hard by the financial and economic crisis, although the impact was somewhat delayed. Every country had different challenges to master. The closer the developing countries are interconnected with the world economy, the crasser the effects. And the incipient recovery that is becoming noticeable is, for the time being, restricted to only a few countries and regions.The crisis was transmitted primarily by trade and financial flows forcing millions back into poverty. Attainment of the Millennium Development Goals is seriously jeopardised in many countries. Many developing countries did not and do not have the resources to stimulate the economy and protect their socially disadvantaged populations to the same extent as the industrialised countries. However, many countries have made considerable efforts to mitigate the effects. Developing countries have also increased their cooperation with one another and are urgently demanding a greater voice in global economic affairs.The industrialised countries are for the most part more concerned with their own problems. Their readiness to provide more extensive aid is limited. They are under pressure from the international institutions to relax their previous dominance in favour of the increasingly strong emerging countries. A shift in power and influence that was already noticeable before the financial crisis is deepening.

  3. The world economic crisis. Part 1: Repercussions on health.

    Science.gov (United States)

    Abel-Smith, B

    1986-09-01

    The widespread economic crisis has resulted in a fall in living standards in the western hemisphere of over 9% (1981-83) and in Sub-Saharan Africa they have fallen to the level of 1970. Food production in the African countries most seriously affected by drought dropped by 15% between 1981 and 1983. Living standards also fell in some countries in Europe and in some of the poorest countries of Asia. The high cost of fuel, the heavy burden of interest payments and unfavourable terms of trade in Africa and Latin America led to serious unemployment, devaluation of national currencies and formidable austerity policies. While some countries have succeeded in protecting their health services from cuts in public expenditure, in many others cuts in health budgets have been substantial. The effects of the crisis in some countries have amounted to the virtual disintegration of rural health services. There are limited data available to show what has been happening to levels of expenditure on health, but those presented here demonstrate that levels of health expenditure per head have fallen in many countries. The cumulative effects on health of increased poverty, unemployment, underemployment and famine, and the reduced capacity of health services to respond to health problems can be documented with facts for a number of countries in Latin America and Africa. Malnutrition has increased and improvements in infant mortality have been checked or reversed. The economic crisis has placed at risk the health of the most vulnerable.

  4. Making Sense of the Financial Crisis in Economic Education: An Analysis of the Upper Secondary School Social Studies Teaching in Finland in the 2010’s

    OpenAIRE

    Jan Lofstrom; Marko van den Berg

    2013-01-01

    The current financial-economic crisis has actualized important issues regarding the dynamics of the economic system, the relations between economy and politics, and the notions of good society. Thus the question of how economic education in school can support students’ understanding of the crisis is relevant to pose. This article asks what are the strengths and weaknesses, and also the promises and challenges, in the Finnish upper secondary school economic education, concerning teaching about...

  5. Health protection in times of economic crisis: challenges and opportunities for Europe.

    Science.gov (United States)

    McDaid, David; Quaglio, Gianluca; Correia de Campos, António; Dario, Claudio; Van Woensel, Lieve; Karapiperis, Theodoros; Reeves, Aaron

    2013-11-01

    STOA, the European Parliament's technology assessment body, and the European Observatory on Health Systems and Policies recently organised a workshop on the impacts of the economic crisis on European health systems. Evidence of the impact of the recent financial crisis on health outcomes is only just beginning to emerge. Data suggests that this latest recession has led to more frequent poor health status, rising incidence of some communicable diseases, and higher suicide rates. Further, available data are likely to underestimate the broader mental health crisis linked to increased rates of stress, anxiety, and depression among the economically vulnerable. Not only does recession affect factors that determine health, but it also affects the financial capacity to respond. Many European governments have reduced public expenditure on health services during the financial crisis, while introducing or increasing user charges. The recession has driven structural reforms, and has affected the priority given to public policies that could be used to help protect population health. The current economic climate, while challenging, presents an opportunity for reforming and restructuring health promotion actions and taking a long-term perspective.

  6. THE ROLE OF INFORMATION ASYMETRY IN THE OUTBURST AND THE DEEPENING OF THE CONTEMPORARY ECONOMIC CRISIS

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    ANDRADA BUSUIOC

    2011-04-01

    Full Text Available An analysis of the outburst and deepening of the contemporary economic crisis that takes into account the information asymmetry is highly opportune. This point of view is strongly supported by the latter years’ developments regarding this theory, which may be able to explain the current evolutions of the economic and financial markets. Thus, the paper argues that adverse selection and moral hazard played a key role in the evolution of the contemporary economic crisis and that its routs can be detected away in history. In this regard, we analyze the situation prior to the outburst of the subprime crisis in the U.S. and how it developed in a context of asymmetry information, fueled by the government’s actions. Given the importance of certitude, quantity and quality of data and information and the way they are interpreted, it becomes crucial to isolate the role of information asymmetry. The paper shows that issues related to all these aspects are instruments of in-depth analysis that can explain the mechanisms of outburst, spread and, mostly, persistence for more than three years of the crisis.

  7. Workforce Professional Skills Development in Times of Economic Crisis

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    Irina Alina Popescu

    2013-01-01

    Full Text Available Using unique individual-level data on the continuous professionaltraining courses completed over the period 2007–2011 this paperaddresses a topic a major concern for policy-makers and businessesin the light of the recent transformations emerging marketshave suffered during the global financial crisis. The paperpresents the analysis of the evolution of the demand for continuousprofessional training and the changes in the structure of thedemand under the circumstances of the economic crisis. Findingsreveal a significantly higher demand for continuous professionaltraining for acquiring new qualifications in jobs requiring low educationalattainment and competences in foreign languages andinformation technology in 2008 and 2009, while specializing andperformance trainings in qualifications requiring secondary andtertiary education registered a significant increase during 2010and 2011. More so, the average skill level of professional trainingis on the rise, demonstrating an increased preference for highlyskilled jobs, in the detriment of the low skilled jobs.

  8. [The health of the elderly in Spain during the economic crisis].

    Science.gov (United States)

    Lorenzo-Carrascosa, Laura

    2017-06-29

    Numerous studies have shown that economic crises are linked to a worsening of health conditions of the population. During the current economic crisis in Spain, there have been significant cuts in social and health services and a general worsening of the emotional well-being of the population. All these changes could have an impact on the health of the population, especially in the most vulnerable groups like older people. The evolution of life expectancy and healthy life years in the period 2004-2014 have been examined in order to examine the health status of people aged 65 years and over in Spain during the economic crisis. Changes are observed in the evolution of healthy life years of people aged 65 years and over, particularly in the case of women. The results do not show that the current economic crisis has had a negative impact on the health conditions of older people in Spain, but there has been a decline in their well-being and quality of life. Copyright © 2017 SEGG. Publicado por Elsevier España, S.L.U. All rights reserved.

  9. Recovery of Tourism Demand in Hong Kong from the Global Financial and Economic Crisis

    OpenAIRE

    K. Chon; Li, G; Lin, S.; Gao, Z.

    2010-01-01

    This study aims to predict the recovery of the Hong Kong tourism industry from the current global financial and economic crisis. Based on the latest statistics available, this study provides updated forecasts of tourist arrivals to Hong Kong from 10 key source markets over the period 2010-2015. The forecasts include annual and quarterly forecasts of tourist arrivals and the market shares of the source markets concerned. An econometric method is used to estimate the demand elasticities as well...

  10. Responding to the economic crisis: a primer for public health professionals.

    Science.gov (United States)

    Stuckler, David; Basu, Sanjay; McKee, Martin; Suhrcke, Marc

    2010-09-01

    Does the current economic crisis require the deep cuts in public spending announced in the June 2010 emergency budget, with potential implications for public health? The arguments for and against such cuts in response to economic recession are complex, but if public health professionals are to engage in debates about future public spending, they should be informed by relevant evidence. In this perspective, we note that opinions among politicians and economists about how to respond to economic downturns are divided, while other EU countries, many with greater levels of debt than the UK, are protecting public expenditure unless required to do so by the International Monetary Fund. Current UK debt may in fact be viewed as sustainable given current information about interest rates, inflation and economic growth. Before accepting large cuts in public spending, it is important to contrast the lack of evidence for such short-term fixes with potentially dire repercussions for population health and welfare.

  11. Ukrainean crisis: History, demography, economics, science, personal impressions

    Science.gov (United States)

    Gaina, Alex

    An overview of the Economic and Demographic situation in Ukraine has been given. Some historical-scientific aspects of the actual crisis has been revealed. Between them: The soveitization of the Science, when scientists of Ukrainean origin work outside its borders, while the most influent and proliferous scientists inside the Country are of Russian origin. The percentage of astronomers of Russian origin is as great as ~40% while the percentage of the Russian population in Ukraine is about 20%. Another problem consist in low knowledge of the Ukrainean language by scientists working inside the Country.

  12. Behavior of Serbian Tourists During Economic Crisis: Two Empirical Researches

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    Marija Najdić

    2012-10-01

    Full Text Available Tourist’s behavior research is focused on understanding and explaining the factors that affect tourist’s preferences and holiday destination choice. In this paper is analyzed the impact of the global economic crisis on the preferences toward leisure travels of the residents from Serbia. The paper is based on researches conducted in 2006-2009, through travel agencies and in 2011 on the general population major of age with support of TNS Medium Gallupa. Better understanding of the perception process and how tourists react to certain factor can give more accurate information on the dynamics of tourism demand and its dependence on tourist’s perception.

  13. Corruption - a Relevant Factor in the International Economic Crisis

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    George DIMOFTE

    2012-11-01

    Full Text Available Corruption is divided into small low-level corruption and high-level corruption. Small level little corruption is defined as the area of corruption which does not prejudice the interests of the majority of individuals. This category can be covered by a health care professional, the corruption of a clerk, etc through their decisions is an individual or group of individuals at the expense of others, but this kind of injustice is limited in time and space. Corruption, means high-level corruption of a dignitary, clerk, etc. This kind of corruption and the main effect over the entire State characteristic and the individuals who compose it. The consequences of this kind of corruption can translate into direct and indirect costs that will be supported in the end by all taxpayers. The objectives of corruption are double: profit and power. The international economic crisis has its origin in the manifestations of high level corruption in the governments of different countries. All the state now have to fight against corruption in order to settle new rules to avoid the effects af the crisis and to prevent a deepening of this crisis with devastating effects upon tha population. Here we try to emphasize the importance that we all should give corruption and measures had to be taken by everyone.

  14. The effects of economic crisis to logistics outsourcing

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    Folinas, D.

    2012-01-01

    Full Text Available The aim of this paper is the investigation of the effects that the economic crisis has on the logistics services sector in Greece. It presents and analyses the findings of a research, which, via a questionnaire, asked managers at the examined sector first to identify the effects and second the practices and approaches that the managers suggested to confront with these effects. The findings of the research revealed that the logistics' service providers have been significantly affected by the crisis and these effects have influenced all the main functional areas of the logistics management (procurement, warehousing, inventory management, transportation and distribution. Moreover, they are not optimistic about the future as they believe that the sector will be significantly decreased in the next few years and the competition will be increased. Performance measurement and optimization of their logistics' processes and functions and the decrease of the operation costs are considered to be their weapons to this battle. This research can be considered as a pilot study, as the Greek economy has been seriously affected during the global financial crisis. Worldwide, 3pl companies can use the findings of this study in order to overcome potential difficulties that might face in near future.

  15. Does the Economic Crisis Have an Influence on the Higher Education Dropout Rate?

    Science.gov (United States)

    Leão Fernandes, Graça; Chagas Lopes, Margarida

    2016-01-01

    This research aims to identify the effects of the economic crisis on higher education (HE) dropout rates at Lisbon School of Economics and Management (ISEG)--Universidade de Lisboa, after having controlled for individual characteristics, family background, High School and HE trajectories. Our main hypothesis is that the economic crisis induces…

  16. Trends of House Construction and Wood Industries after the Asian Economic Crisis in Korea 

    OpenAIRE

    Choi, Soo Im; Sakai, Masahiro; Okamori, Akinori; Kang, Hag Mo

    2002-01-01

    The economic crisis of Korea occurred from the second half of 1997 had direct and serious influence all over the domestic economy. This study considered what influence change of the housing construction that determines wood demand, and the exchange rate that are the main causes of an economic crisis had on timber supply and demand structure or wood industrial structure. In results, rapid dullness of the housing construction activity under an economic crisis brought about the big reduction of ...

  17. Leadership in Crisis : A Case Study on Leadership during the Economic Crisis in Britain

    OpenAIRE

    Silva, Eugene Arnolis de; Jonah, Olivia NanaYaa Glynis

    2012-01-01

    This paper addresses the behaviour of business leaders during the economic crisis in Britain during the period 2007-2010. It looks at the theory of Leadership as presented by DuBrin, other writers and researchers comparing it to what is practiced in Britain in order to see if it is the right approach. Through historical data with proper research we are able to tell the approach that these Leaders have exhibited. We also looked at the Leadership style used in other countries that have gone or ...

  18. Economical – Financial Crisis and the Tourism Trends in the Crisis Period

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    Tileaga Cosmin

    2015-04-01

    Full Text Available Challenges generated by the global economic crisis, terrorism, epidemics, wich therefore directly affected global tourism industry, raised the global question to approach the tourism in a new vision, more complex. Thus, WTO and the World Travel & Tourism Council considered that this will be important condition for the reception destinations and local communities development. The new tourism ventures to include a new dimension of travel and tourism, as a mature response to a world more complicated. Global awareness of the importance of tourism has triggered a new vision on the opportunities offered by global tourism. T

  19. ANALYSIS OF THE INSOLVENCY OF ROMANIAN COMPANIES IN THE CONTEXT OF THE ECONOMIC CRISIS

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    Daniela CIOTINA

    2013-12-01

    Full Text Available This paper approaches an important topic in the field of insolvency, a present field, considering that bankruptcy threatens the development in good conditions of the activity of companies. Our approach concerns the analysis of the insolvency of Romanian trading companies in the context of the economic-financial crisis. Considering the current economic crisis, the problem of insolvency is very present. From an economic and financial perspective, insolvency is a reality of entrepreneurship, with a negative impact: it is conditioned and triggers inopportune and inappropriate management of the patrimony of economic units. Our aim is to perform a comparative analysis in time and space of the evaluation of the insolvency of trading companies, in order to grasp the common and specific elements in defining and presenting insolvency. In the practical part of the paper, for processing the data collected from the financial statements, we will use the SPSS software - Statistical Package for the Social Sciences. The database includes 30 insolvent companies in Romania, analyzed over a 5-year period. For a rigorous structure of the database, we will select the companies that perform their activity in several activity branches. The results of the research show the crisis that affects the analyzed Romanian companies.

  20. The Political Response of Spanish Youth to the Socio-Economic Crisis: Some Implications for Citizenship Education

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    Gonzalo Jover

    2014-05-01

    Full Text Available This article discusses the effects of the current socio-economic crisis on Spanish youth and their political response to it. It does so in three consecutive stages. In the first, it analyses the repercussion of the crisis on young people using information from certain social indicators (employment, mobility and education. It then outlines the subjective perception of the crisis, i.e., how they are experiencing it and what their hopes are regarding the economy and politics. The third part focuses on how young citizens have responded to the situation politically. The article finishes by considering what implications may be drawn from that response in terms of citizenship education.

  1. MONETARY POLICY UNDER THE IMPACT OF THE CURRENT GLOBAL CRISIS

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    Zina Marcu (Cioran

    2013-12-01

    Full Text Available The issue of the financial crisis draws more and more the specialists’ attention. The monetary policy has a decisive role in monitoring and reducing the inflationary phenomenon as much as possible, since it can become a real danger for an economy during a period of crisis. Inflation is a negative thing that affects the economy. It discourages the investments and the economic growth. The aim of this paper is to find the Central Bank’s economic instruments and levers that can contribute to price stability in the economy. It was found that the elaboration of a measure of monetary policy with a restrictive feature can contribute to price stability on long term, but we should take into account the macroeconomic context in which it is applied.

  2. Social exclusion in households with members with disabilities during the Spanish economic crisis

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    Sagrario Anaut Bravo

    2015-06-01

    Full Text Available This article analyses the impact that the economic crisis has had on discrimination, poverty and social exclusion among people with disabilities and households with members with disabilities. For this analysis, a series of surveys conducted by the FOESSA Foundation in 2007, 2009 and 2013 were used. The effect of the economic crisis has not been as great among people with disabilities and households that include members with disabilities as among the overall Spanish population. However, the fact that poverty and exclusion levels among the former group remained higher than those of the overall Spanish population reflects the limitations of current social policies in changing this situation that affects the human rights of people with disabilities.

  3. Italian Young People Coping with the Consequences of Economic Crisis: an Intersectional Analysis

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    Enzo Colombo

    2015-12-01

    Full Text Available The aim of this article is to investigate how the current economic crisis is affecting the daily lives and social positions of young people in Italy. On the one hand, starting from analysis of more general statistical evidence on the worsening situation in the labour market, we conduct an intersectional analysis – both intercategorical and intracategorical – of some indicators in order to shed light on educational and gender differences. On the other hand, we present the results of qualitative research conducted on the experiences and representations of the economic crisis among young people with low or high cultural capital in the city of Milan. The central hypothesis of our work is that ‘the crisis’ is not just a temporary economic conjuncture; it is also a social phenomenon reshaping the social positions of individuals in both structural and subjective terms. Showing how the crisis is affecting different young people in very different ways, the article investigates both structural evidence and subjective interpretations of the crisis. El objetivo de este artículo es investigar cómo está afectando la crisis económica actual a la vida cotidiana y posición social de los jóvenes en Italia. Por un lado, a partir del análisis de evidencias estadísticas de carácter general sobre el empeoramiento de la situación del mercado de trabajo, se realiza un análisis interseccional – tanto intercategórico como intracategórico – de algunos indicadores, con el fin de arrojar luz sobre las diferencias educativas y de género. Por otro lado, se presentan los resultados de una investigación cualitativa sobre las experiencias y representaciones de la crisis económica entre los jóvenes con un capital cultural bajo o alto en la ciudad de Milán. La hipótesis central de este trabajo es que “la crisis” no es únicamente una coyuntura económica temporal; también es un fenómeno social que está rediseñando las posiciones sociales de

  4. Global economic crisis the state and foreign policy

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    Davut Ateş

    2010-04-01

    Full Text Available The crisis that began in mortgage credits in the middle of 2007 in the United States triggered a financial crisis starting from the middle of 2008 in the U.S. and Europe. At the end of 2008 real sector all over the world began to be negatively affected from the crisis. Current crisis is compared with Great Depression that had begun in 1929 and become one of steps going to the Second World War. It is known that many changes occured in domestic and external behaviours of states in the time of Depression. It is very usual to expect that current crisi will have some influences on states too. Taking into account that crisis is a temporary period, in this essay it is debated how domestic and external behaviours of states will change in the time of crisis. Moreover, it is explained that influences of crisis may change from country to country, and continuation of crisis in the form of recession or depression will create different impacts as well.Özet2007 yılının ortasında ABD’de ipotekli konut kredilerinde başlayan kriz 2008 yılının ikinci yarısından itibaren ABD ve Avrupa’da finans krizine yol açmıştır. 2008 sonununda ise bütün dünya krizden olumsuz etkilenmeye başlamıştır. Kriz 1929 yılında başlayan ve İkinci Dünya Savaşı’na giden basamaklardan biri olan Büyük Buhran ile karşılaştırılmaktadır. Buhran döneminde devletlerin iç ve dış hareketlerinde birçok değişiklikler olduğu bilinmektedir. Halihazırdaki ekonomik krizin de devletler üzerinde bir kısım etkilerinin olması doğaldır. Krizin sonuçta geçici bir evre olduğu dikkate alınarak bu çalışmada, kriz döneminde devletlerin içerde ve dışarda sergileyecekleri davranışların hangi yönlerde değişim gösterebileceği tartışılmıştır. Diğer yandan, krizin etkilerinin ülkeden ülkeye farklılıklar arzedebileceği, durgunluk veya depresyon biçiminde sürmesinin de krizin yaratacağı etkileri farklılaştıracağı açıklanmıştır.

  5. A fuzzy set approach to economic crisis, austerity and public health. Part I. European countries' conformity to ideal types during the economic downturn.

    Science.gov (United States)

    Saltkjel, Therese; Ingelsrud, Mari Holm; Dahl, Espen; Halvorsen, Knut

    2017-08-01

    This is the first part of a two-part paper that takes an explorative approach to assess crisis and austerity in European countries during the Great Recession. The ultimate aim of this two-part paper is to explore the "crisis-austerity" thesis by Stuckler and Basu and assess whether it is the interplay between austerity and crisis, rather than the current economic crisis per se, that can led to deterioration in population health. In Part I of this paper we offer one way of operationalizing crisis severity and austerity. We examine countries as specific configurations of crisis and policy responses and classify European countries into "ideal types." Cases included were 29 countries participating in the European Union Statistics on Income and Living Conditions (EU-SILC) surveys. Based on fuzzy set methodology, we constructed two fuzzy sets, "austerity" and "severe crisis." Austerity was measured by changes in welfare generosity; severe crisis was measured by changes in gross domestic product (GDP) per capita growth. In the initial phase of the Great Recession, most countries faced severe crisis combined with no austerity. From 2010-2011 onward, there was a divide between countries. Some countries consistently showed signs of austerity policies (with or without severe crisis); others consistently did not. The fuzzy set ideal-type analysis shows that the European countries position themselves, by and large, in configurations of crisis and austerity in meaningful ways that allow us to explore the "crisis-austerity" thesis by Stuckler and Basu. This exploration is the undertaking of Part II of this paper.

  6. The Global Economic Crisis. Challenges for SMEs in Romania

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    Roxana Gabriela HODOROGEL

    2011-04-01

    Full Text Available The economy of the European Union (EU has left behind the downturn and is gradually recovering. In 2010, both the EU and the Eurozone posted economic growth, mostly because Germany did better than expected. All considered, the German economy is growing at a faster pace than in the last two decades. Recession, however, has persisted in states like Greece, Romania and Latvia, and analysts expect growth rates, especially in Eastern Europe, to remain low in the next period. Recovery in this part of Europe largely depends on a pickup in the activity of small and medium-sized enterprises (SMEs, which were seriously affected by the credit crunch the economic crisis entailed. The adverse impact on most SMEs causes a decline in the development rate and a rise in the number of bankruptcies. But the growth of the German economy, however, has a beneficial effect on companies in Central and East European states as well.

  7. PUBLIC EXPENDITURE POLICY IN THE CONTEXT OF ECONOMIC CRISIS - CHALLENGES AND IMPLICATIONS

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    Petrisor Mihai - Bogdan

    2011-07-01

    Full Text Available Public spending is a key component for both public finances and government financial policy. In this situation, government expenditures are made in direct relation with the results of governance with economic and financial crises and global social welfare of the nation. From this perspective, our article aims to highlight the correlation between public expenditure and budgetary financial and economic crisis and, also, state government responses, anticipating their impact on medium and long term. Also, in the context of the crisis and the concomitent lack of public revenue, we identify the pillars on which to base the budget reduction in public expenditure. The implications of the economic crisis in Romania are analyzed along with proposed measures to be followed by the Government through budgetary fiscal strategy. In relation to the purpose and objectives of the research, documentation was made both in terms of bibliographic resources and the plan of legislative documents and quantitative reporting. We believe that the issue of increasing allocative efficiency of resources is vital to counter the current crisis, but also to maximize the positive effects of public interventions in general and from another state, we consider that state and, consequently, public expenditure budget which should be used to replace the market, can not be regarded as some suggest to be founded and we suggest a line for developed countries. This work was supported by the grant “Post-doctoral studies in Economics: program for continuous forming of elite researchers – SPODE”, contract POSDRU/89/1.5/S/61755, project financed by the European Social Fund, by the Operational Sectorial Program Development of Human Resources 2007-2013.

  8. Crisi della struttura o crisi della semantica?

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    Fedele Paolo

    2015-12-01

    Full Text Available Political crisis, crisis of the science, economic crisis or crisis of the society as a whole? The concept of “Crisis” is nowadays essential to describe social phenomena. But is this a structural crisis of contemporary society or is it a crisis of the semantics or is it a conceptual heritage used to describe the current evolution of society? Starting from the recent developments of systems theory, the paper tries to investigate the developmental phase of modern society and to re-position the concept of crisis in a founded epistemologically framework.

  9. Summary of the June 2009 Educationtoday Crisis Survey: Initial Reflections on the Impact of the Economic Crisis on Education. OECD Education Working Papers, No. 43

    Science.gov (United States)

    Karkkainen, Kiira

    2010-01-01

    This paper provides initial reflections on the impact of the economic crisis on education across the Organisation for Economic Cooperation and Development (OECD) area by analysing the OECD educationtoday crisis survey responses of June 2009. It first looks at the impact of the crisis on education demand and participation, after which the focus…

  10. Does the Financial Crisis Affect How Economic Theory Should Be Taught?

    Science.gov (United States)

    Kafka, Alexander C., Comp.

    2008-01-01

    Professors of economics, business, and related fields were asked to answer the following question: Does the financial crisis affect how economic theory should be thought? This article presents some excerpts from their answers.

  11. Does the Financial Crisis Affect How Economic Theory Should Be Taught?

    Science.gov (United States)

    Kafka, Alexander C., Comp.

    2008-01-01

    Professors of economics, business, and related fields were asked to answer the following question: Does the financial crisis affect how economic theory should be thought? This article presents some excerpts from their answers.

  12. Adaptation of the tourism in Romania to the new economic context imposed by the global economic crisis (in 2010

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    Silvia IFTIME

    2013-01-01

    Full Text Available The global economic crisis affected the tourist market from Romania since 2008. 2010 was for the Romanian tourism enterprises the year of successful attempts to respond to the economic and social stimuli imposed by the economic crisis. The way in which they managed to cope with the crisis shows that solutions are available to those who adapt to the conditions of fierce competition.The global economic crisis rippled its effects in all areas of activity, tourism included. Some field entrepreneurs consider that tourism will be the most affected sector of services by this crisis because the consumers will leave it at the bottom of the basket of consumption goods and services.

  13. Ensuring green growth in a time of economic crisis: the role of energy technology

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2009-07-01

    Despite the severity of the current financial and economic crisis, it cannot be allowed to distract us from addressing critical and strategic climate change and energy challenges. The energy sector produces 60% of global greenhouse gas emissions and so it must also be a key part of any strategy to reduce them. This paper describes the most promising low-carbon technologies, their current status and the policy framework that will be necessary to achieve their widespread deployment. It also highlights what immediate steps can be taken as part of a Clean Energy New Deal. 4 figs., 2 tabs., 1 app.

  14. Economic crisis and oil market balances; Crise economique et detente sur le marche du petrole?

    Energy Technology Data Exchange (ETDEWEB)

    Duquesnoy, S.; Rozenberg, J.; Hourcade, J.Ch. [CIRED, Campus du Jardin Tropical, 45 bis, avenue de la Belle Gabrielle 94736 Nogent-sur-Marne Cedex (France)

    2011-07-01

    One might intuitively think that an economic crisis would at least relieve the pressure on oil supply since it slows energy demand. From the model of the oil market DYSMO, we show that an economic crisis may on the contrary increase tension, as it postpones investment in oil supply. (authors)

  15. Psychological health before, during, and after an economic crisis : results from Indonesia, 1993 - 2000

    OpenAIRE

    Thomas, Duncan; Friedman, Jed

    2007-01-01

    The 1997 Indonesian financial crisis resulted in severe economic dislocation and political upheaval, and the detrimental consequences for economic welfare, physical health, and child education have been previously established in numerous studies. We also find the crisis adversely impacted population psychological well-being. We document substantial increases in several different dimensions...

  16. The Impact of the Financial and Economic Crisis on EU's FDI

    Directory of Open Access Journals (Sweden)

    Agnes Ghibuțiu

    2009-04-01

    Full Text Available Following a five-year period of uninterrupted growth and reaching a historical peak in 2007, world foreign direct investment flows (FDI declined in 2008, in large part as a result of the global financial and economic crisis. The European Union (EU as a major source and recipient of FDI flows in the world has been particularly badly hit, reflecting the close economic relationship which exists between the EU and the rest of the world, on the one hand, and among the Member States, on the other hand. The paper analyses the impact of the current crisis on EU's FDI inflows and outflows, in terms of dynamics and volume, as well as the short term and long-term prospects for FDI. Special attention is devoted to disentangling the transmission channels of the crisis, the key features of the FDI downturn and its underlying factors. The empirical investigation relies on UNCTAD data for tracing the evolution of FDI flows at the European level as compared to worldwide trends, while Eurostat data are used to highlight the impact of the crisis on intra-EU FDI flows. Whenever possible, a distinctive analysis is carried out for the old and new EU Member States. The paper is organized around six sections. Its findings reveal, inter alia, that notwithstanding the sharp fall in total FDI flows in 2008, the EU maintains its position as a global leader in terms of FDI flows. However, it will take quite a long time until recovering from the negative effects of the present crisis in terms of investments. Besides, the EU is not likely to be the driving force behind the next wave of FDI surge in the world as this role will be taken over by emerging economies like China, India and Brazilia.

  17. Does economic crisis affect prevention services? An Italian region as a study case

    Directory of Open Access Journals (Sweden)

    Corrado De Vito

    2014-06-01

    Full Text Available Background: The Latium Region in Italy is currently under pressure from national government to achieve economic consolidation of regional health services and is subject to a formal regional recovery plan.Methods: Using recognized health indicators together with a government assessment tool, we evaluate the impact of the economic downturn on the health of the Latium Region population.Results: We find that healthcare spending in the Latium Region needs to become more efficient by improving primary healthcare and by restoring efficiency in hospitals.Conclusions: Prevention activities should not only be defended in the current financial and economic crisis, but also streamlined and strengthened.

  18. The Real Estate and Economic Crisis: An Opportunity for Urban Return and Rehabilitation Policies in Spain

    Directory of Open Access Journals (Sweden)

    Jesús M. González Pérez

    2010-06-01

    Full Text Available In the early 1980s, suburbanization and periurbanization processes became widespread in major cities within Spain. An interesting stage of returning to city centers commenced that materialized in the start of rehabilitation policies within historic centers. These processes coincided with weak population growth, an acute industrial economic crisis, and new democratic policies in municipal councils. Three decades later, we may be witnessing similar processes, although with different origins. The consequences of a construction-based economic model have been disastrous in Spain, from both an economic as well as an environmental point of view. The artificial land boom was significant throughout the country, but was especially prominent within the Mediterranean areas that specialize in tourism and real estate (second homes. The burst of the real estate bubble has shown the irrationality of the economic model and the serious social and environmental consequences that the model has entailed. Within this context, some of the territorial transformation processes that occurred in Spain during the real estate boom period are being studied for the first time. Additionally, changes in land policies (urban renewal of centers and urban renewal in general within the current economic and real estate crisis are analyzed. An urban rehabilitation that gradually includes new spaces for intervention and for introducing new sustainable methods for recovering degraded spaces, such as the Master Plan for Platja de Palma, a mature tourism destination that seeks a final ‘0 CO2 balance’ scenario, among other objectives.

  19. Entropy analysis in foreign exchange markets and economic crisis

    Science.gov (United States)

    Ha, Jin-Gi; Yim, Kyubin; Kim, Seunghwan; Jung, Woo-Sung

    2012-08-01

    We investigate the relative market efficiency in 11 foreign exchange markets by using the Lempel-Ziv (LZ) complexity algorithm and several entropy values such as the Shannon entropy, the approximate entropy, and the sample entropy. With daily data in 11 foreign exchange markets from Jan. 2000 to Sep. 2011, we observe that mature markets have higher LZ complexities and entropy values than emerging markets. Furthermore, with sliding time windows, we also investigate the temporal evolutions of those entropies from Jan. 1994 to Sep. 2011, and we find that, after an economic crisis, the approximate entropy and the sample entropy of mature markets such as Japan, Europe and the United Kingdom suddenly become lower.

  20. Economic crisis and convergence in the Eurozone countries

    Directory of Open Access Journals (Sweden)

    Ferreiro Jesús

    2017-01-01

    Full Text Available Although a key condition for the creation of a monetary union is the existence of similar structural characteristics that reduce the existence and incidence of asymmetric shocks, in the case of the Eurozone, most, if not all, studies have emphasized the existence of sizeable divergences both in the macroeconomic performances and in the structural elements of the Eurozone countries. The objective of the paper is to analyse whether the economic and financial crisis that is affecting the Eurozone since the year 2008 has had any impact of the coherence of the Eurozone, that is, whether after 2008 the differences in the macroeconomic performance of the euro counties are declining (convergence or increasing (divergence.

  1. Economic crisis and health policy in the Netherlands.

    Science.gov (United States)

    Juffermans, P

    1984-01-01

    Beginning with a brief historical overview of health policy in the Netherlands from 1945-1960 (a period of restoration of the capitalist economy after World War II) until 1960-1970 (a period of capitalist expansion), this paper discusses the health policy of the Dutch state under the present conditions of economic crisis. The main characteristics of this policy are growing state intervention, reorganization of the decision-making process, deinstitutionalization of health care, a laissez-faire policy with regard to services in the so-called first echelon of the health sector, reprivatization of health costs, and an ideological emphasis on individual responsibility for health and self-care. The paper concludes with a discussion of the various strategies proposed for the health sector by the Left and the connection between prevention and social struggle.

  2. ECONOMIC AND FINANCIAL CRISIS IMPACT ON ROMANIA ALONG TIME

    Directory of Open Access Journals (Sweden)

    Gheorghe GRIGORESCU

    2013-06-01

    Full Text Available Five years after the onset of the strongest economic crisis that has seen a global economy, the world still seems to be far from solved problems. Neither Romania is no exception, sustainable economic recovery we all want is (for now only hope. We have allowed the material to make some suggestions on how the economy might revive. We talked first about the vital need for revival of investment, supporting them through tax incentives to entrepreneurs. I then point the better absorption of European funds, the source of revival of the Romanian economy. Also advocate for greater accountability in spending public money, so terms like necessity, opportunity and social need not remain only in books, but to be used effectively in the allocation of budgetary resources. We detailed several times how I propose we approached the Romanian economy and revitalize major role essential, you must have it in technical and scientific economic recovery. The regret of not having experience in macroeconomics, in order to put more ideas on the table, still think that the detailed material could give thought to avid readers.

  3. The Balkans: Between Economic Crisis And European Integration

    Directory of Open Access Journals (Sweden)

    Andrei RĂDULESCU

    2012-06-01

    Full Text Available The Balkans region (also known as the „Powder keg of Europe” has always been an European question, a Western question, as underlined by Arnold Toynbee, in 1922. At present, European Union is confronted with the fifth enlargement, also known as the “post-conflict” enlargement – the integration of Balkan states. Bulgaria joined European Union in 2007. Croatia signed the Accession Treaty in 2011 and is expected to become an EU member in 2013. The other countries encounter in different stages of European integration. However, this process presents several challenges and dilemmas, either for European Union, or for the Balkan enclave. The main challenge in the case of this enlargement is to reconcile the nation-state building and the European integration. From the economic point of view, the Balkans region is underdeveloped. Several factors determined this stance of the region: the poor endowment in terms of natural resources, the political situation over the centuries (the military conflicts – impeding the economic development, the cultural factors. At present, the region is confronted with the consequences of the worst economic and financial crisis o global economy since the end of World War II.

  4. Juventud Sin Futuro : Subjective experiences of Spanish youth: resistance and organization in the context of economic crisis

    NARCIS (Netherlands)

    P. Trejo Mendez (Paulina)

    2014-01-01

    textabstractThis paper looks at the subjective experiences of Spanish organized youth who are being affected by the economic crisis. This paper follows a standpoint epistemology. This research focuses on how their practices question the current dominant discourse depicting today’s Spanish youth as a

  5. IMPLICATIONS OF THE ECONOMIC AND FINANCIAL CRISIS IN SOUTH-EAST EUROPE

    Directory of Open Access Journals (Sweden)

    Andreea Grădinaru

    2013-07-01

    Full Text Available Initially triggered in the USA and generated by the chaos in the financial system of the country, the economic crisis has spread in Europe and, thanks to globalization, as a domino effect has spread around the world. Although the first part of 2008 South East Europe has lived with the belief that the countries in this region will be immune to the crisis, since September 2008, the situation has changed notably in these states. The purpose of this study is to describe the issues related to the economic crisis and its impacts on South-Eastern European countries. The first part of the study highlights economic and financial crisis origins, while in the second part the effects of the global crisis are presented and the last part states about implications of the crisis in South-Eastern Europe states.

  6. THE IMPACT OF THE ECONOMIC CRISIS ON THE DYNAMIC OF INTERNATIONAL FDI

    Directory of Open Access Journals (Sweden)

    Lenuţa Carp

    2012-03-01

    Full Text Available FDI flows are internationally recognized for the benefits they generate (technological transfer, know – how, industrial reorganization, raising the number of working places. Foreign capitals increased significantly under the impact of globalization and accelerated the interdependencies between economies up to 2007, but, in the current crisis, the dynamic of FDI flows was affected in a negative manner, both in developed economies and in the developing ones. The aim of this paper is to reveal and analyze the evolution of FDI flows in the period 2007 – 2010, emphasizing the strong impact that economic crisis exerts. The results of the analysis presents the descending trend up to 2009, since 2010 being noticed a slight recovery which continued in the first trimester of 2011 and according to the forecasts will continue in the future.

  7. CONSISTENCY VERSUS INCONSISTENCY IN THE CURRENT ACADEMIC ECONOMIC PARADIGM

    Directory of Open Access Journals (Sweden)

    Dumitru MIRON

    2013-11-01

    Full Text Available The current academic economic paradigm is shaped by the actual economic schools of thoughts and the systems of generating economic knowledge – universities, research institutions, academic publishing actors and business elites. The cumulated contributions of these actors have transformed economics into a mature science whose practical and governance implications were tested by the 2008 world financial crisis. The challenges faced in these times by governments, households and businesses have severely questioned both orthodox and non orthodox economic wisdom and the legitimacy of the economist as a professional. Irrespective of their economic orientation, most economists have agreed that the models of socio-economic development should be revisited, with a high need of a focus on the moral and ethical standards of the human, economic and political actions. The purpose of this paper is to analyse some of the major inconsistencies that the current academic economic paradigm is perpetuating through its systems of generating economic knowledge, mainly universities and research institutions. From the methodological point of view this paper uses a qualitative analysis, based on a conceptual and highly explorative approach.

  8. DIRECTIONS AND MEASURES FOR THE RE-LAUNCHING OF THE ROMANIAN ECONOMY IN THE CONTEXT OF THE WORLD ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Claudia Loredana JUNCU

    2010-09-01

    Full Text Available The re-launching of the Romanian economy in the context of the world economic crisis can be implemented by using a set of principles and economic measures that will lead to a strict monetary policy, a fiscal and budgetary discipline as well as a reduction of the inflation. This paper presents a series of reforms that Romania needs in the present context, to start the process of re-launching the economy that is currently in a significant descending trend. It is necessary that all the economic and political actors participate actively in progressively meeting the competitive conditions of the Comunitary economies. Corrective, stimulating and functional measures need to be undertaken to permit the applicability towards all the actors that define the structure of the economic environment. The application and enforcement of the needed anti-crisis measures will determine a stop of the decline and the creation of the premises to economical re-launching.

  9. Eight Noble Opinions and the Economic Crisis: Four Literary-philosophical Sketches à la Eduardo Galeano

    Directory of Open Access Journals (Sweden)

    Giorgio Baruchello

    2010-03-01

    Full Text Available Four literary-philosophical skecthes are presented here in order to celebrate the ten-year anniversary of the publication of the official English translation of one of Eduardo Galeano's most important books: Upside Down: A Primer for the Looking-glass World. Each of these four sketches deals with the current economic crisis, though from different perspectives of analysis, and attempts to make use of the vibrant and creative sylistic devices characterising Galeano's works, particularly Upside Down. In this book, Galeano explored insightfully the roots of the crisis to come. His critical conclusions were analogous to those of another eccentric observer of the most notable economic phenomena of the 1990s, John McMurtry, whose perception of the looming crisis was even more profound and technical. Therefore, also this Canadian thinker, indeed his theory of value, is evoked in the four sketches, for McMurtry's onto-axiology reveals the ongoing contradiction between the relentless search for profit of the mostly virtual global script type=text/javascript src=http://nome.st5.stefna.is/joomla/plugins/editors/jce/tiny_mce/themes/advanced/langs/en.js?version=156/scriptscript type=text/javascript src=http://nome.st5.stefna.is/joomla/plugins/editors/jce/tiny_mce/plugins/advcode/langs/en.js?version=156/scripteconomy and the requirements of natural and human life.

  10. THE IMPACT OF THE FINANCIAL AND ECONOMIC GLOBAL CRISIS OVER THE ROMANIAN BANKING SYSTEM

    Directory of Open Access Journals (Sweden)

    Ciobanu (Sireteanu Elena

    2011-12-01

    Full Text Available This paper analyzes the evolution of the Romanian banking system during 2007 - 2010 compared to the same segment of financial market dynamics in the Member States. Also seeks to detect the effects of the global financial and economic crisis on lending activity, the management of liquidity risk and thereby the effect on the profitability of the Romanian banking sector and outline the prospects of further development. The macroeconomic and financial international background has undergone negative changes, especially in the autumn of 2008. Romania's financial system has evolved but strongly marked by the virulent manifestations of global financial and economic crisis. The banking system which is the dominant component in the financial system is well capitalized, has resisted, until now, these pressures, without recording any bankruptcy. As a lending crunch from the increase in provision expenses, against the backdrop of bad loans it seems to be a poor performance of the banking system for the future period, taking into account the negative financial result recorded at the end of 2010. Given the high degree of capitalization, liquidity level indicators, on this, consider that local banks are well placed to support the real economy on long-term lending conditions imposed by prudential regulations in the field. Currently, at the level of the Romanian banking system, we consider it is necessary to continue the measures imposed by the monetary authority to ensure the reduction of uncertainty and reassure market participants in future developments, as trust is the essential factor for the crisis. In this sense, we consider very important the debate, the direct involvement of representatives of the central bank and academic themes reflecting the current state of the Romanian financial system, lessons learned from the crisis and Romania's objectives for the future - providing a sustainable process of nominal and real convergence of the Romanian economy

  11. Chicken or Egg: Global Economic Crisis or Ideological Retrenchment from Welfare in Three European Countries

    DEFF Research Database (Denmark)

    Madsen, Aase Mygind; Judd, Dawn; Boeckh, Jürgen

    2015-01-01

    As welfare states confront massive changes, these are often explained as inevitable by-products of the global economic crisis. However, many of the shifts in welfare ideology pre-date the crisis. As increasing numbers of European welfare states move towards neoliberal paradigms then this converge......As welfare states confront massive changes, these are often explained as inevitable by-products of the global economic crisis. However, many of the shifts in welfare ideology pre-date the crisis. As increasing numbers of European welfare states move towards neoliberal paradigms...

  12. [THE GLOBAL AND ECONOMIC CRISIS. AND HEALTH MANAGEMENT].

    Science.gov (United States)

    del Rey Calero, Juan

    2014-01-01

    The Global and economic crisis and Health Management The Health care process discussed are 4 steps: assessment, planing, intervention and evaluation. The identify association between social factors linked to social vulnerability (socio economic status, unemployed, poverty) and objective health relate quality of life. The poverty rate is 24.2%, unemployed 26.26%, youth unemployed 56.13%.ratio worker/retired 2.29. Debts 100% GDP The health inequality influence on health related quality of life. The Health System efficiency index. according Bloomber rate (2,013) Spain is 5 degrees in the world, points 68.3 on 100, for the life expectancy 82.3 years, the personal cost of health care 2,271€. Health care 10% GDP (public 7%,private 3%), SS protected population 92.4%, retired person cost 9.2% GDP, p. capita GDP 23,737€. Cost of Care: Hospital/specialist 54%, P. Care 15%, Pharmaceutical 19.8%, P. Health 3.1%.

  13. Economic crisis in the Baltic states : Focusing on Latvia

    Directory of Open Access Journals (Sweden)

    Koyama Yoji

    2010-01-01

    Full Text Available This paper examines the causes of the economic crisis in new EU member states in Central and Eastern Europe, focusing on the Baltic States, especially Latvia. Thanks to the Single Market of the EU, workers in this country became able to migrate to advanced EU countries, especially the UK, decreasing the unemployment rate and at the same time causing a sharp increase in wages due to a tightened labour market. Banks from Nordic countries came to operate in Latvia and competed for market shares, stirring a consumption boom. In a situation in which people can easily get loans denominated in a foreign currency the monetary policies of the central bank are weakened. The Latvian economy already showed signs of overheating in 2005. However in the spring of 2007 the government turned to restrictive policies, causing a depression at the end of 2007. The Lehman shock dealt the Latvian economy its final blow. Latvia set up the introduction of the Euro in 2013 as an exit strategy. Latvia is in a dilemma: if the country does not devalue its national currency and tries to satisfy the Maastricht criteria soon, it will be obliged to adopt pro-cyclical policies, causing economic stagnation.

  14. FOOD SECURITY IN CONDITIONS OF FINANCIAL AND ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Tudor BAJURA

    2016-08-01

    Full Text Available It is well known that in the conditions of financial-economic crisis, food security situation is aggravated. The validity of this axiom is characteristic, in the first place, for less developed countries, economic activities of which is based mainly on the production of agri-industrial commodities with relatively low value-added, reflected in decreased opportunities for investment, attracting foreign capital, etc. A detailed analysis and modern scientific study of the nature of the problem regarding food security is the actual direction of scientific activities.The aim of this work is to identify the true causes that provoke the lack of guaranteed food supply, rigid dependence on food imports and the development of measures of counteraction to all this negativephenomena. During the study of food security problems were used methods of formation of dynamic ranges, methods of comparison, approximation, etc. As the obtained results it should be noted the proposed measures for the accelerated development of the industry of cattle, as well as other types of meat and dairy products, that are designed to replace the massive import of relevant products in order to improve the balance of foreign trade, in the first place, according to the article "Live animals and livestock products".

  15. Profitability of Serbian banking sector during global economic crisis

    Directory of Open Access Journals (Sweden)

    Marko M Miljković

    2013-12-01

    Full Text Available The aim of the paper is to identify the main factors which contributed to decline of profitability in Serbian banking sector during the period of global economic crisis. There are presented different theories of banking sector profitability and results of scientifically significant empirical researches from economic literature. Following ratios were used as measure of profitability: return on assets (ROA, return on equity (ROE, net interest gain to total revenue, net fees and commissions gain to total revenue, and net pre-tax profit/loss to total revenue ratio. The profitability was analyzed for the whole Serbian banking sector in the period 2008-2012 and particularly for the 15 largest banks according to total assets value in 2012. The empirical analysis indicated that one of the most important factors contributing to high amounts of losses of commercial banks in the previous period includes an increase of net operating expenses, especially expenses on account of a write-off of non-performing loans (NPL. Furthermore, there were analyzed the dynamics of interest rates and interest spread as a factor with certain impact on profitability of banks. Finally, it is estimated that the prospects for intensive growth of profitability in the banking sector of Serbia in the mid-term are poor.

  16. ASSESSING THE EFFECTIVENESS OF EU COMPETITION POLICY DURING THE ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    NELA RAMONA ICHIM (GRIGORE

    2012-11-01

    Full Text Available In the current economic context marked by deep economic and political changes determined mainly by the challenges launched by economic and financial crisis, the EU is designing a new model of competition policy that focuses on a set of coordinated group actions to ensure transparency and a level playing field both for countries and companies operating within the Single Market. The regulatory and institutional framework modernization requires an assessment of EU competition policy enforcement. Using the WEF’s effectiveness of anti-monopoly policy index and the EBDR’s competition policy index this paper highlights some disparities between EU’s member states regarding the perceived effectiveness of competition policy implementation and the quality of actions undertaken to protect competition.

  17. The pharmacological cost of COPD during Greek economic crisis.

    Science.gov (United States)

    Stafyla, Eirini; Kerenidi, Theodora; Gerogianni, Irini; Geitona, Mary; Daniil, Zoe; Gourgoulianis, Konstantinos I

    2017-01-01

    The economic crisis in Greece has substantially affected patients with COPD. The reduction of disposable income has its consequences on patients' ability to afford their medication. The aim of the study is to evaluate the cost of treatment for patients with COPD and the influence of the financial crisis to the patients. Data were collected from 189 patients (male: 178, mean age: 70.1±8.4) who visited the outpatient department of University Hospital of Larissa in 2014 and 2015. The pharmacological cost of treatment was calculated based on national pharmaceutical formulary prices. COPD patients were classified into four stages according to Global Initiative for Chronic Obstructive Lung Disease (GOLD): 7.4% were in stage I, 43.4% in stage II, 34.4% in stage III, and 14.8% in stage IV. Patients were graded as per GOLD as follows: 18% as grade A, 14.3% as B, 23.3% as C, and 44.4% as D. The annual cost of COPD maintenance treatment per patient was €952.92 (±398.01), of which €239.91 were patients' expenses. The annual treatment cost for stable disease ranged from €615.44 to €1302.03 depending on disease stages (GOLD stages I-IV) and from €715.01 to €1101.05 depending on GOLD grades (grades A-D). The cost of maintenance medication was statistically and significantly higher for patients with advanced disease (GOLD stages III-IV) and for patients at high risk (GOLD grades C-D [P=0.000]). The pharmacological cost of treatment for COPD patients seems to be considerably high, in all disease stages. As the average income is decreased, patients face difficulties to afford inhaled medication.

  18. “Greedy Buyers, Amoral Speculators and Lacking State Control” - Pupils Conceptions about the Crisis and their Relevance for Political and Economic Learning

    Directory of Open Access Journals (Sweden)

    Andreas Klee

    2010-07-01

    Full Text Available This article exemplarily illustrates pupils‘ concepts of the Economic and Financial Crisis. It is especially interesting to examine in how far pupils assign relevance to current crisis phenomena for their daily lives and how these are perceived and explained. Diagnosing and analysing the available concepts is a prerequisite for planning Politics lessons. In the politic and economic classroom researching pupils‘ concepts and paying attention to them can help to show student orientated ways of learning.

  19. The Effectiveness of Fiscal Policy in Combating Economic Crisis. An Analysis Based on the Economic Literature

    Directory of Open Access Journals (Sweden)

    Marius-Corneliu MARINAŞ

    2010-11-01

    Full Text Available The objective of this research is to identify, in the economic literature, the main factors which constrain the transmission of the fiscal shocks to the real economy. The interest in finding the most efficient fiscal stimuli in recovery the economies passing through crisis period has got increased as soon as the expansionary monetary policy promoted by most of the central banks has not generated an increase of the confidence in the private economic agents and, as a consequence, an increase of consumption and of the private investments. Even though it represents the Keynesian solution for recovery the economies which have been affected by the crisis, the fiscal expansion promoted during the recession periods does not generate the same expected positive effects any more (increase of consumption, significant decrease of unemployment, increase of revenues in economy, as they are conditioned by the reaction of the private economic agents to the fiscal stimuli. For example, the decision to decrease taxation may not automatically generate the significant increase of consumption (a condition for spreading the multiplier effect in economy, under the terms of pessimism or of the difficulty to access loans. As a result, the fiscal multipliers tend to be rather proper, and their value decreases more during the deep economic recession periods.

  20. The other crisis: the economics and financing of maternal, newborn and child health in Asia.

    Science.gov (United States)

    Anderson, Ian; Axelson, Henrik; Tan, B-K

    2011-07-01

    The Global Financial Crisis (GFC) of 2008/2009 was the largest economic slowdown since the Great Depression. It undermined the growth and development prospects of developing countries. Several recent studies estimate the impact of economic shocks on the poor and vulnerable, especially women and children. Infant and child mortality rates are still likely to continue to decline, but at lower rates than would have been the case in the absence of the GFC. Asia faces special challenges. Despite having been the fastest growing region in the world for decades, and even before the current crisis, this region accounted for nearly 34% of global deaths of children under 5, more than 40% of maternal deaths and 60% of newborn deaths. Global development goals cannot be achieved without much faster and deeper progress in Asia. Current health financing systems in much of Asia are not well placed to respond to the needs of women and their children, or the recent global financial and economic slowdown. Public expenditure is often already too low, and high levels of out-of-pocket health expenditure are an independent cause of inequity and impoverishment for women and their children. The GFC highlights the need for reforms that will improve health outcomes for the poor, protect the vulnerable from financial distress, improve public expenditure patterns and resource allocation decisions, and so strengthen health systems. This paper aims to highlight the most recent assessments of how economic shocks, including the GFC, affect the poor in developing countries, especially vulnerable women and children in Asia. It concludes that conditional cash transfers, increasing taxation on tobacco and increasing the level, and quality, of public expenditure through well-designed investment programmes are particularly relevant in the context of an economic shock. That is because these initiatives simultaneously improve health outcomes for the poor and vulnerable, protect them from further financial

  1. Weak Business Culture as an Antecedent of Economic Crisis

    DEFF Research Database (Denmark)

    Sigurjonsson, Throstur Olaf; Vaiman, Vlad; Davídsson, Páll Ásgeir

    2011-01-01

    the questionable business practices mentioned above. The article also offers some general recommendations which should be useful to both policy makers and business leaders wishing to engage in business activities in a transparent, ethical manner and learn from the tragic Icelandic experience. Among......The authors of this article contend that traditional corruption, which was largely blamed for the current situation in the Icelandic economy, was perhaps not the most fundamental reason for the ensuing crisis. The weak business culture and a symbiosis of business and politics have actually allowed...... for the bulk of self-serving and unethical decisions made by the Icelandic business and political elite. In order to illustrate this point, 10 expert interviews have been conducted within the period of 6 months in 2009 to support in-depth research carried out by the authors. The article also discloses...

  2. Financial Crisis:Its Impacts on International Economic System and Geopolitics

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    Global financial crisis is ongoing. The crisis has not only impacted the mode of the world economy that further called for reform of international economic system, but also exerted far-reaching impact on the transformation of the international political system and geopolitics. China, undergoing a critical period of reform anddevelopment, is obliged to probe the essence of the crisis and its prospective impacts, to discern the direction of the transforming international political system and geopolitics, and ...

  3. THE GLOBAL ECONOMIC CRISIS AND ITS IMPACT ON INDONESIA’S EDUCATION

    OpenAIRE

    Kuncoro, Mudrajad

    2015-01-01

    This paper will examine to what extent the unprecedented global financial crisis has affected the Indonesia’s economy. The differences between Indonesia’s experience of theglobal financial crisis (GFC) and Asian Financial Crisis (AFC) in 1997–98 will be illuminated. The government’s priority on the development of education— together with achieving quality growth, reducing poverty, creating jobs, improving infrastructure— have accelerated the economic recovery and improved key indicators in ed...

  4. For or Against the Eurozone? Romanian Students’ Perspective on the Economic Crisis and Their Future as European Citizens

    Directory of Open Access Journals (Sweden)

    Alina-Daniela MIHALCEA

    2014-10-01

    Full Text Available In the context of globalization and of the aftermath of the economic crisis, the pillars on which the EU stands no longer satisfy the demands and necessities of the European citizens (Van Ham, 2005; Habermas, 2012.  The euro crisis has generated, on one hand, a gap between the “center” and the “periphery” that can be correlated with the fragmentation both of the EU’s spheres of influence and of the European financial market (Dobrescu & Palada, 2012; EFCR, 2013.  On the other hand, the euro crisis has generated a lack of solidarity and confidence in the European project. At this point, the major challenge for the European Union is not only the Euro-zone crisis, but also the level of confidence amongst young people. Recent polls (Gallup, 2013; Pew Research Center, 2013 indicate a dramatic rise in pessimism among Europe’s young people that have been labeled as “the Lost Generation” (European Commission, 2012. This paper explores the impact of the economic crisis on Romanian students’ attitudes towards the future of the European project and towards their European identity. The study aims at identifying the major concerns of Romanian students in terms of their future as European citizens. Our approach of this subject covers two perspectives: the first one is the utilitarian perspective, that is taking into consideration the actual advantages of the Europeanization process and the sustainability of the European social and economic model in the current national economic context; the second one is the identity perspective, that is taking into account the impact of the economic crisis on the Romanian students’ sense of belonging to the European community. The results of our study indicate that, overall, the Romanian youth holds an optimistic view concerning the EU, however they express some concerns in terms of lack of solidarity and fear of national identity loss.

  5. Trade Policies and the Changing Patterns of Protectionism during the Global Financial and Economic Crisis

    Directory of Open Access Journals (Sweden)

    Agnes Ghibuțiu

    2012-01-01

    Full Text Available The Great Recession of 2008–09 provided a fertile ground for protectionist pressures to increase. It caused a negative shock to the global economy that is comparable with the Great Depression of the 1930s. International trade suffered a historical collapse in 2009, but trade flows quickly rebounded thereafter. And unlike the Great Depression of the 1930s, the recent global economic contraction did not trigger a massive wave of protectionism as expected. Despite important adjustments in many countries’ trade policies during the crisis and, hence, a quite notable increase in the incidence of protectionist measures, there is a widely shared belief that crisis related protectionism has been kept under control, being rather modest and limited compared with both the negative effects of the crisis and the initial concerns. A large agreement emerged also among analysts on the important role of WTO’s multilateral rules and disciplines in preventing exacerbation of economic nationalism and protectionism. The views on intensity, dynamics and potential impact of current contemporary protectionism continue, however, to diverge as they reflect in part the significant differences between the results of the different monitoring exercises, carried out particularly by the WTO and Global Trade Alert. But beyond these differences, the latest monitoring reports contain alarming signs of escalating protectionism over the post-crisis years due to the growing difficulties in the world economy. This paper takes a look at the main trends in global protectionism during and after the crisis and some of its potential implications. In doing so, the paper starts by contrasting protectionism that accompanied the Great Depression of the 1930s with the present-day protectionist phenomenon in order to briefly outline the peculiarities of the latter. Then it addresses the main factors contributing to staving off trade protectionism during the recent crisis. Relying on the

  6. Determining the Real Causes of Financial Crisis in Islamic Economic Perspective: ANP Approach

    Directory of Open Access Journals (Sweden)

    . Ascarya

    2016-04-01

    Full Text Available Objective – The purpose of this study is to determine the real causes of financial crisis from Islamic economic perspective.Methods - This study applies Analytic Network Process (ANP to determine the real causes of financial crisis from Islamic economic perspective to be able to formulate the real solutions to end financial crisis.Results - The ANP results show that the real causes of financial crisis from Islamic economic perspective are Social Instability (EXTERNAL FACTOR, Speculation (MISBEHAVIOR, Ineffective Fiscal System (UNSUSTAINABLE FISCAL SYSTEM, Hedonism (MISBEHAVIOR, Fractional Reserve Banking System (UNSTABLE MONETARY SYSTEM, Political Instability (EXTERNAL FACTOR, Corruption (POOR GOVERNANCE, Interest Rate (UNSTABLE MONETARY SYSTEM, Fiat Money (UNSTABLE MONETARY SYSTEM, and the Wrong Man in the Wrong Place (POOR GOVERNANCE. These main real causes should be removed gradually in order to systematically and gradually improve the stability of financial system so that financial crisis will not reappear again and again in the future.Conclusions - Financial crisis would not happen under Islamic economic system if all Allah’s laws in financial dealings were followed. Financial crisis in conventional economic system could be prevented or lessened by gradually adopting Islamic economic and finance laws and regulations, partly or fully, especially the main pillars of Islamic financial system, namely the prohibition of ribā (usury or interest, prohibition of maysir (gambling and game of chance or speculation and prohibition of gharar (excessive uncertainty, in their many forms.

  7. Long-term effects of youth unemployment on mental health: does an economic crisis make a difference?

    Science.gov (United States)

    Thern, Emelie; de Munter, Jeroen; Hemmingsson, Tomas; Rasmussen, Finn

    2017-04-01

    Ill health is a risk factor and a consequence of unemployment, which might vary depending on the national rate of unemployment. We investigated the long-term effect of youth unemployment on mental health and explored the possible interaction during periods of high (economic crisis) and low (non-crisis) unemployment rates. A register-linked population-based cohort study was conducted including individuals aged 17-24 years. The crisis cohort (n=6410) took part in the Labour Force Survey during the economic crisis (1991-1994) in Sweden and the non-crisis cohort (n=8162) took part in the same survey before the crisis (1983-1986). Follow-up was 19 years. Adjusted HRs and 95% CIs for an inpatient care discharge mental diagnosis with employed people as the reference group were calculated by Cox regressions models. In fully adjusted models, 6 months (2.70; 1.71 to 4.28) of unemployment were associated with increased risks of getting a mental diagnosis in the crisis cohort. In the non-crisis cohort the risks were: 1.92; 1.40 to 2.63, 2.60; 1.72 to 3.94 and 3.33; 2.00 to 5.57, respectively. No interactions between labour force status and level of unemployment were found. Youth unemployment is related to mental health problems, independent of the overall national rate of unemployment, which is important as the youth unemployment rates are currently at stable high level. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/.

  8. Student Aid and Access in the Economic Crisis

    Science.gov (United States)

    Baum, Sandy; McPherson, Michael

    2009-01-01

    Most economists expect the current economic downturn to be one of the most severe since World War II. In fact, there is a very real danger that the changing circumstances of students, families, state and federal governments, and educational institutions could interact to significantly diminish educational opportunity in the United States. The most…

  9. Transnational Corporations, Socio-economic Change and Recurrent Crisis

    DEFF Research Database (Denmark)

    Murphy, Jonathan; Ackroyd, Stephen

    2013-01-01

    of the effects of change on international finance and argues for the origins of changes in changed class relations. Research limitations/implications – The implications of this work are that the character and reach of current economic change are further illuminated – including especially the underlying causes...

  10. Psychological Health Before, During, and After an Economic Crisis: Results from Indonesia, 1993 - 2000.

    Science.gov (United States)

    Friedman, Jed; Thomas, Duncan

    The 1997 Indonesian financial crisis resulted in severe economic dislocation and political upheaval, and the detrimental consequences for economic welfare, physical health, and child education have been established in several studies. The crisis also adversely impacted the psychological well-being of the Indonesian population. Comparing responses of the same individuals interviewed before and after the crisis, we document substantial increases in several different dimensions of psychological distress among male and female adults across the entire age distribution. In addition, the imprint of the crisis can be seen in the differential impacts of the crisis on low education groups, the rural landless, and residents in those provinces that were most affected by the crisis. Elevated levels of psychological distress persist even after indicators of economic well-being such as household consumption had returned to pre-crisis levels, suggesting the deleterious effects of the crisis on the psychological well-being of the Indonesian population may be longer lasting than the impacts on economic well-being.

  11. The politics and policies of welfare chauvinism under the economic crisis

    DEFF Research Database (Denmark)

    Keskinen, Suvi; Norocel, Ov Cristian; Bak Jørgensen, Martin

    2016-01-01

    The ongoing economic crisis that emerged in the wake of the global recession in 2008, and was followed by the more recent crisis of the Eurozone, has introduced new themes and remoulded old ways of approaching the welfare state, immigration, national belonging and racism in Northern Europe. This ...... of a broader neoliberal restructuring of the welfare state and of welfare retrenchment....

  12. Has the Economic Crisis Contributed to More Segmentation in Labour Market and Welfare Outcomes?

    DEFF Research Database (Denmark)

    Leschke, Janine

    This paper analyses whether developments on the labour market and in the welfare system during the economic crisis can be seen as perpetuating the trend towards labour market segmentation or whether the crisis may actually have contributed to containing some of the divisions forged in recent...

  13. GLOBAL ECONOMIC CRISIS: A VIEW FROM SOUTH AFRICA

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    Patrick Bond

    2015-08-01

    Full Text Available Any analysis of the erratic unfolding of global economic crisis is bound to be hotly contested. This is particularly so in mid-1999, amid claims from Washington that the past two years' dangers of financial meltdown and deflation were averted and finally extinguished through a combination of policy measures and good fortune: slightly looser Federal Reserve monetary policy adopted in September 1998, in the immediate wake of the successful public-private bailout of the Long Term Capital Management hedge fund; a new $90 billion International Monetary Fund (IMF insurance scheme announced the following month; the convening of key countries in a Forum on Financial Stability; the lack of financial contagion (contrary to expectations in the wake of Brazil's January 1999 currency meltdown; the long-awaited revival (however infirm of the Japanese economy; new plans for somewhat more transparent budgetary and exchange rate systems in emerging markets; and a decision at the G-8 Cologne meeting in June 1999 to sell 10% of the IMF's gold to fund partial debt relief for the poorest Third World countries. Indeed many observers were surprised at IMF Managing Director Michel Camdessus's success at turning the debt relief strategy into a vehicle for tougher "Enhanced Structural Adjustment Facility" conditions, just months after the IMF was criticised to the point of ridicule for its East Asian, Russian and Brazilian mishaps (effectively, granting $200 billion in bad loans over 15 months, in exchange for the application of inappropriate austerity measures.

  14. Evolution and consequences of economic crisis in Romania

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    Gina IOAN

    2015-11-01

    Full Text Available The paper treats the main Romania's macroeconomic indicators before and after the economic crisis began. It is determined a set of correlations of population occupancy level by investment in key sectors. Also, finally, it is determined the Okun's law in Romania. The analysis reveals that a higher occupancy labor will implicitly lead to an increase in the GDP. On the other hand, the structure and nature of investment in Romania must be redesign, in the purposes of achieving a compromise between technology and creating jobs. An increase in training of the population, fostering integration of graduates (especially those with secondary and higher education in the labor market and limit migration will lead to increased investment in high efficiency especially in industry and a highly competitive on foreign markets. Also, a higher labor efficiency will increase the Okun’s coefficient (1.72 for Romania as compared with 2 in most developed countries so a higher potential GDP growth relative to labor.

  15. Neo-Poulantzian Perspectives in IR and the Current Crisis

    DEFF Research Database (Denmark)

    Ougaard, Morten

    This paper is about Poulantzas, historical materialism, international relations, and the current crisis. My purpose is to discuss how some Poulantzian theoretical contributions can be applied to the study of subject matters that are the focus of academic fields such as International Relations (IR......), International Political Economy (IPE), International Politics, World Politics and others. I deliberately abstain from singling out any of these disciplines or fields or labels and from trying to define them precisely, because one of my arguments is that historical materialism (HM) is a research program2...

  16. THE BUCHAREST STOC EXCHANGE IN THE CONTEXT OF ECONOMIC CRISYS

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    SZABO ROBERT

    2010-12-01

    Full Text Available The economy is a complex, which acts on many external factors, but internal and complex factors, depending on who can create economic balances or imbalances. An important element is capital to be managed carefully and seriously because it caused imbalances are among the worst in the economy and may even lead to economic collapse in one country. The existence of capital market is driven by demand for capital for current cash needs and investment and also be subject to a real process of saving as the foundation of capital supply. Fundamental institution of secondary capital market is the stock of securities.

  17. The American Mortgage Crisis Implications on the international economics evolutions

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    Rozalia NISTOR

    2010-08-01

    Full Text Available Shock waves that produce large cracks deepen existing political, economic and social, and sometimes a new order replaces the old. In 2010, states across the world over blast, which invariably will lead to changing the current world order. Last twenty years have seen major changes in international economic context, the Soviet Union collapsed and centralized economies in Eastern Europe, reforms in China and India, export-based growth strategies in East Asia, all leading to the creation of a world economy market and also bringing 4 to 5 billion people.

  18. Are SMEs still profitable in an economic crisis? Qualitative research on Romanian entrepreneurship and crisis management

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    Cristina NICOLAU

    2015-12-01

    Full Text Available Small and medium-sized enterprises (SMEs pay a crucial role in the Romanian economy, having a significant contribution to achieving the domestic gross product (GDP; they represent an important source of workplaces, have a considerable number of employees, whose labour productivity is very high as compared to the one in the large enterprises and, last but not least, they are much more flexible in adapting organizational strategies to the conditions generated by the business external environment. That is why we consider of high importance the analysis of the entrepreneurial behaviour of the Romanian small and medium-sized enterprises that provide services, particularly in a situation of financial crisis and if taking into consideration the ever-changing Romanian economic environment. In order to achieve the goal of this paper, namely to identify and analyse the entrepreneurial behaviour of the SMEs in the Romanian Central Development Region, we made an option for the qualitative research method called semi-directive in-depth interview. The discussion group was made up of 7 managers of SMEs in the Central Development Region. At the same time, we had in view to study the influence of the business environment and the legislative framework upon the economic development and profitability of the SMEs providing professional, scientific and technical services. Our research shows that the implemented strategies and the entrepreneurial behaviour adopted by the participants led not only to their remaining on the market, but also to an increase in the business volume and consequently to an increased turnover.

  19. The impact of the economic crisis on Spanish university libraries

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    Simón-Martín, José

    2016-09-01

    Full Text Available The scope of this study is to examine the impact of the financial crisis on the libraries of Spanish public universities. For this purpose, data from staff, finances, and services provided by the 47 public university libraries during 2008-2014 have been analyzed. Overall, the analysis of the data leads us to assert the following observations: these libraries have experienced a reduction in staff and expenditures for the purchase of information resources, whereas the volume of library lending has matched the evolution of student enrollment. Both interlibrary lending and the number of days that libraries were open during this period have decreased. Expenditures on electronic resources made by libraries and library consortia have increased in the period under study to the detriment of expenditures on monographs and printed journals. In this new economic environment, we consider that library managers should design actions for establishing strategies to ensure efficient and high-quality services to users.El presente trabajo tiene como objetivo examinar el impacto de la crisis financiera en las bibliotecas de las universidades públicas españolas. Para alcanzar este propósito se han analizado los datos de personal, los datos económicos, y los referidos a los servicios prestados por las 47 bibliotecas universitarias públicas durante el periodo 2008 a 2014. El análisis de los datos nos lleva a aseverar, a nivel global, las siguientes consideraciones: estas bibliotecas han experimentado una reducción en los efectivos de personal y en los gastos de adquisiciones de recursos de información, mientras que el volumen del préstamo domiciliario ha seguido una evolución similar al del número de estudiantes matriculados. Tanto el préstamo interbibliotecario como el número de días que permanecieron abiertas las bibliotecas durante estos años también han disminuido. El gasto en recursos electrónicos, realizado por las bibliotecas y los consorcios

  20. MARKETING STRATEGY OF RUP «BMZ» IN THE PERIOD OF WORLD FINANCIAL-ECONOMIC CRISIS

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    V. V. Zaitsev

    2010-01-01

    Full Text Available The marketing strategy of RUP «BMZ» in the period of worldwide financial-economic crisis is disclosed. It is shown that it is aimed at the maximum increase of export in all directions.

  1. The delay of investments in Romanian tourism caused by the current financial crisis

    Directory of Open Access Journals (Sweden)

    Fratu, D.

    2010-12-01

    Full Text Available The European Union considers creating specific economic areas due to the inheritance of each country. For the south-east European area, the characteristic is the low industrial development, as a consequence of the financial crises. Nowadays, the south-east European area becomes attractive mainly because of the tourism industry, due to the industrial downturn of the last decades. EU policies regarding the tourism industry face the actual financial crisis, which is reflected in the postponing of investments in tourism. In this article, the author intends to analyze the current stage of investments made in the Romanian tourism industry with the help of the European Union. The study also aims at finding favourable solutions for continuing investments, although the crisis persists.

  2. Economic crisis, immigrant women and changing availability of intimate partner violence services: a qualitative study of professionals' perceptions in Spain.

    Science.gov (United States)

    Briones-Vozmediano, Erica; Agudelo-Suarez, Andres A; Goicolea, Isabel; Vives-Cases, Carmen

    2014-09-10

    Since 2008, Spain has been in the throes of an economic crisis. This recession particularly affects the living conditions of vulnerable populations, and has also led to a reversal in social policies and a reduction in resources. In this context, the aim of this study was to explore intimate partner violence (IPV) service providers' perceptions of the impact of the current economic crisis on these resources in Spain and on their capacity to respond to immigrant women's needs experiencing IPV. A qualitative study was performed based on 43 semi-structured in-depth interviews to social workers, psychologists, intercultural mediators, judges, lawyers, police officers and health professionals from different services dealing with IPV (both, public and NGO's) and cities in Spain (Barcelona, Madrid, Valencia and Alicante) in 2011. Transcripts were imported into qualitative analysis software (Atlas.ti), and analysed using qualitative content analysis. We identified four categories related to the perceived impact of the current economic crisis: a) "Immigrant women have it harder now", b) "IPV and immigration resources are the first in line for cuts", c) " Fewer staff means a less effective service" and d) "Equality and IPV policies are no longer a government priority". A cross-cutting theme emerged from these categories: immigrant women are triply affected; by IPV, by the crisis, and by structural violence. The professionals interviewed felt that present resources in Spain are insufficient to meet the needs of immigrant women, and that the situation might worsen in the future.

  3. HOW THE FINANCIAL CRISIS HAS AFFECTED THE ECONOMIC INDICATORS OF THE NETHERLANDS

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    Răzvan Hagimă

    2013-07-01

    Full Text Available Despite of being affected by the economic crisis, the Netherlands managed to minimize its effects. This situation is highlighted in a comparison with Romania and the European Union, between the levels of the most important economic indicators. Moreover, when other countries registered negative trends in their economic growth, the Dutch economy succeeded in this matter.

  4. The role of the accounting professional in the management of the economic crisis

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    Baba, C. M.

    2011-01-01

    Full Text Available The present paper is focused on the accounting professional’s role in the management, confinement and lessening of the consequences of present economic crisis. The article presents some considerations about how the financial – accounting information can be used by an economic entity in order to survive the recent changes within its economic and financial environment.

  5. THE IMPACT OF THE GLOBAL ECONOMIC CRISIS ON MACROECONOMIC AGGREGATES IN BRICS COUNTRIES AND USA

    OpenAIRE

    2013-01-01

    The global economic crisis which has emerged 2007 year has led to major financial and corporate scandals, also hence to large fluctuations in macroeconomic developments and the implementation of national policies. Macroeconomic aggregates are important indicators that measure the results of activities of the economy of a country, and therefore are important for macroeconomic analysis. The aim of this paper is to show the impact of the global economic crisis on macroeconomic aggregates in the ...

  6. The role and importance of ECB's monetary policy in the global economic crisis

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    Stakić Nikola

    2014-01-01

    Full Text Available This paper presents the role and importance of the European Central Bank (ECB in the context of measures and effects that are being taken to repair the consequences of the current economic crisis. The ECB, together with the European single currency, the euro, symbolizes long-lasting monetary integration of the EU states. Such form of integration has created the possibility of a supranational action of ECB in the banking sector and financial markets in general. Along with the other most important central banks in the world, the ECB applies various unconventional instruments of monetary policy to stimulate economic growth and development. In this context, the paper explains the nature and mechanism of such measures in order to influence on the insufficient liquidity in the financial markets.

  7. The Impact of Financial and Economic Crisis on EU-27 Member States’ Balance of Payments

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    Simona Moagăr-Poladian

    2013-04-01

    Full Text Available The object of the present article is to analyze the impact of 2008 financial and economic crisis on the evolution of balance of payment of EU-27 member states. Specifically, the analyzed period is between the years 2006-2011. The article is structured in the following parts: (1 the analysis of the evolution of the current account and capital account balance in the EU27 with non-EU states, (2 the identification of the main factors of disparities and asymmetries between the Euro area member states concerning current account balance and international investment position; (3 the role of TARGET2 system in financing of current account deficits of the peripheral countries of Euro area, and capital flight from these states to other Euro area countries perceived as less risky by investors.

  8. Risk perception and the economic crisis: a longitudinal study of the trajectory of perceived risk.

    Science.gov (United States)

    Burns, William J; Peters, Ellen; Slovic, Paul

    2012-04-01

    We conducted a longitudinal survey of public response to the economic crisis to understand the trajectory of risk perception amidst an ongoing crisis. A nation-wide panel responded to seven surveys beginning in late September 2008 at the peak of the crisis and concluded in October 2009. At least 600 respondents participated in each survey, with 413 completing all seven surveys. Our online survey focused on perceptions of risk (savings, investments, retirement, job), negative emotions toward the financial crisis (sadness, anxiety, fear, anger, worry, stress), confidence in national leaders to manage the crisis (President Obama, Congress, Treasury Secretary, business leaders), and belief in one's ability to realize personal objectives despite the crisis. We employed latent growth curve modeling to analyze change in risk perception throughout the crisis. Our results suggest that, in general, people's perceptions of risk appear to decrease most rapidly during the initial phase of a crisis and then begin to level off. Negative emotion about the crisis was the most predictive of increased risk perception, supporting the notion of risk as feelings. Belief in one's ability to realize personal objectives was also predictive. Confidence in national leaders, however, was not predictive of perceived risk. Finally, our results demonstrate that groups may experience a crisis differently depending on a combination of personal characteristics such as gender, income, numeracy, and political attitude. Risk management and communication should work in sync with these mechanisms and differences across groups.

  9. ECONOMIC ASPECTS OF MASS-MEDIA AND THE CHANGES GENERATED BY THE ECONOMIC CRISIS

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    TRAIAN ALEXANDRU NASTASE

    2011-04-01

    Full Text Available In this paper we intend to describe the economic implications of mass-media in correlation with the recent socio-economic changes generated by the economic crisis. We take into consideration the dual market on which mass-media evolves: the mass-media products market, and the advertising market, keeping in mind that the behavior of a mass-media institution on one market, can have direct implication on the other market. We analyze the relation between mass-media and the public (audience, the cost for creating mass-media products, the ways in which mass-media reduces costs and the ways of increasing their profits. As mass-media must always adapt to the social changes and to the public, we take our analysis further and we describe how the recent economic changes influenced the mass-media consumption trends and mass-media profits on all the main communication channels: TV, radio, outdoor, internet, newspapers/magazines. This analysis is performed at both a global and a local level, for Romania. In the end we predict how other key changes may affect the economic model approach of the mass-media institutions on short and middle terms.

  10. Perceptions of Competence and the European Economic Crisis

    DEFF Research Database (Denmark)

    Chiozza, Giacomo; Manzetti, Luigi

    2015-01-01

    This study provides micro-level evidence for the new theories of accountability under globalization. We analyze the micro-level logic that underpins political accountability in democratic countries with highly globalized economies. We contend that voters discount current economic conditions......-of-responsibility factors. We find that valence considerations related to future directions in the country sustain positive evaluations of leaders’ performance even in the face of negative evaluations of the economy....

  11. Impact of economic crisis on earnings management in European listed companies

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    Konrad Grabiński

    2016-07-01

    Full Text Available The aim of the paper is to investigate the impact of global economic crisis 2007–2009 on earnings man-agement in European listed companies. In the first section concepts of economic and financial crisis are explained from the perspective of economic theory. Then the concept of earnings management is present-ed. Hypothesis development constitutes the third part of the paper. The main hypothesis postulates that macroeconomic conditions of crisis restrain earnings management. The next section explains the meth-odology of empirical study. Using adapted Dechow model, earnings management is measured in more than 36 thousand firm-level observations from 27 European countries. Then using panel regression with fixed effects the magnitude of earnings management is investigated from the perspective of crisis and non-crisis period. The last section presents results of the study, which provide evidence that during the crisis period earnings management is curbed. Additionally, the analysis shows that macroeconomic con-ditions associated with economic crisis like GDP drop rates and increase of unemployment affect differ-ently the magnitude of earnings management.

  12. The effects of the global economic crisis on Macedonian economy: Some macroeconomic indicators and future policy recommendations

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    Elizabeta Tosheva

    2016-01-01

    The experiences and lessons taken from the global economic crisis should serve as a basis for changing the current economic model with a new one in order the economy of the country to catch a connection with the intense changes that are expected to occur in the coming period. It is expected that creating new economic model in Republic of Macedonia will result in multiple positive effects that primarily manifested in the increasing number of newly small and medium enterprises, domestic investments, industrial production, GDP, number of new employees and total exports as well as in reduction of the trade deficit in maintaining macroeconomic stability of the country.

  13. Making Sense of the Financial Crisis in Economic Education: An Analysis of the Upper Secondary School Social Studies Teaching in Finland in the 2010’s

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    Jan Lofstrom

    2013-07-01

    Full Text Available The current financial-economic crisis has actualized important issues regarding the dynamics of the economic system, the relations between economy and politics, and the notions of good society. Thus the question of how economic education in school can support students’ understanding of the crisis is relevant to pose. This article asks what are the strengths and weaknesses, and also the promises and challenges, in the Finnish upper secondary school economic education, concerning teaching about the crisis? The article analyses the core curriculum for upper secondary school economic education in Finland, the available upper secondary school economy textbooks, and a selection of students’ social studies exam papers in the matriculation examination in spring 2010. The focus of the analysis is on how the current financial-economic crisis is presented in the textbooks and in the exam papers, what the competences are that the core curriculum delineates economic education should develope in students, and what capacity Finnish social studies teachers have for teaching about economy. The article proposes that the presence of historical perspectives and political analyses in economic education are important, in particular when teaching about topics like the current financial-economic crises.

  14. Impact and Limitations Deriving from Basel II within the Context of the Current Financial Crisis

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    Oana Miruna DĂNILĂ

    2012-06-01

    Full Text Available The Banking sector risk management framework, geared towards maintaining a solid capital adequacy level, has witnessed a permanent evolution, determined by the global economic and financial reality.Basel II has brought an improvement of the risk management framework by adding minimum capital levels corresponding to market and operational risk and by the introduction of internal rating models. However the current crisis has brought forward some adverse effects as well as limitations.This paper analyses the evolution of prudential rules and regulations introduced by Basel II and their impact on the banking system together with outlining certain limitations.

  15. A free-floating currency regime during economic crisis: advantage or disadvantage?

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    Lubor Lacina

    2011-01-01

    Full Text Available The paper deals with the identification of potential disadvantages associated with the existence of national currencies with the floating exchange rate regime during the current financial and economic crisis in countries postponing their entry into the eurozone. The hypothesis is that the advantages of a floating exchange rate may be outweighed by their disadvantages (high volatility of exchange rates. First part of the paper provides evidence about the development of Czech crown exchange rate since transition from fix to free float regime. Special attention will be given to the period during the recent global economic crisis. For the sake of comparison, evolution of other currencies in the region (zloty, forint and Slovak crown, will be taken to consideration. Second part of the paper form case studies identifying impact due to volatility on national currencies. Case studies were used to identify possible negative impacts from volatility in national currencies on export firms in the Czech Republic and holders of mortgage loans denominated in foreign currencies in Hungary. The last part of the paper will formulate recommendations for businesses entering into foreign trade relationships, as well as for policy makers in countries using national currencies which are preparing for membership in the eurozone.

  16. Public Perception of Climate Change in a Period of Economic Crisis

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    Dimitrios Papoulis

    2015-08-01

    Full Text Available The present study surveys the opinion of the residents of the Athens area in Greece on a wide range of issues related to climate change, such as their environmental consciousness and awareness and their willingness to take action against climate change. This study is performed at a time of a severe economic crisis in Greece. Based on a questionnaire, this study examines the general trends reported on various environmental issues, more particularly concerning climate change. The main results are that Greek citizens are aware of the problems of environmental and of climate change and also believe that the environmental quality of Greece is quite poor. They believe they are fairly well informed about climate change. However, the current economic crisis in Greece has reversed the progress made in the past concerning the awareness of climate change. Also, the citizens have very low confidence in the public authorities and the big enterprises to deal with climate change, while they have high level of trust in scientific and environmental organizations. They agree with public actions, but are against individual actions to protect the environment as they consider the main stakeholders (state, industry to be mainly responsible for environmental degradation.

  17. Economia e política na crise global Economics and politics in the global crisis

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    Otavio Soares Dulci

    2009-01-01

    Full Text Available O artigo trata da presente crise do capitalismo internacional, interessando-se pelo nexo entre seus aspectos propriamente econômicos e as questões políticas e institucionais que ela suscita. São discutidos alguns elementos de caráter cognitivo e metodológico importantes para uma agenda de pesquisa da crise, e em seguida é apresentado um panorama do processo de globalização neoliberal que caracterizou o mundo nas ultimas décadas e que está no centro da crise contemporânea. O artigo conclui com uma breve prospecção das mudanças que poderão advir da crise, sobretudo no que diz respeito à revalorização da política e ao fortalecimento do papel do estado.The article deals with the current crisis of world capitalism, relating its specifically economic aspects to political and institutional questions raised by the financial crash. It discusses some cognitive and methodological issues which are relevant for a research agenda of the process, followed by an overview of the development of neoliberal globalization. This model, which characterized the world during the last few decades, is in the heart of the contemporary economic problems. The article concludes with a brief prospect of the changes that may be stemming from the crisis, especially those related to the strengthening of politics and the state's role.

  18. Russian-Estonian Economic and Investment Cooperation During the Crisis: Dynamics and Possibilities

    Directory of Open Access Journals (Sweden)

    Nevskaya Anastasia

    2015-06-01

    Full Text Available The article deals with the development in Russian-Estonian relations during the crises of 2007 and 2014, taking into consideration the balance between political and economic factors in the decision-making by Estonian government. A number of special aspects, trends and problems in trade and investment ties are detected. The aim of the study is to uncover key motivation behind the actions of both Russia and Estonia, to identify the drivers for economic and political development in the region, and to work out recommendations to adjust them. The questions put forward by the authors of this article could not be more topical at the time, when Russian economic situation is obviously getting worse and capital flight (to the neighboring EU Member States is likely to increase. The method of the study is comparative analysis of the impact on economic ties made by Russian-Estonian crisis of 2007 and the current international tension around Ukraine. The regional fossil fuel market and the possibilities of Gazprom involvement in its development are also analyzed. It is concluded that political motives are still important for Estonian decisionmaking, though they are balanced out by measures of business support (despite some of these measures being taken by the EU bodies. The role of political factor for the Russian side is increasing. It is acknowledged that there is a growing number of missed economic opportunities in the Russian Northwest.

  19. Connection between the economic crisis and contractual circumstances in Hungary and in the European Union

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    Tekla PAPP

    2012-12-01

    Full Text Available With the conclusion of a contract of civil law, the parties may take some reasonably unforeseeable economic risks that might disrupt the synallagmatic character of the contract; therefore, disproportionate, unviable extra burden may appear in the contractual relations on the side of some parties. The sudden increase of inflation or prices, the intense reduction of the purchasing power of wages, the radical changes in the relations between supply and demand, the collapse of the product market, the insolvency of the economic actors (especially in case of a contractual party, the negative changes of the market and financial relations and the production and liquidity problems of the economic sector shall result in this incalculable risk. In case of maintaining the original contractual content, an economic crisis affecting the whole economy and society of one or more countries may cause any or all the parties to take inequitable and intolerable risks. In the following, we analyse those reasons in the Hungarian judicial practice that are based on the Hungarian Civil Code and referred by the parties in order to get rid of the contractual obligation in the name of economic/ business risk and finally, we make a conclusion with respect to the current European regulations.

  20. Global economic governance in the post-crisis world

    OpenAIRE

    2013-01-01

    The first major global crisis of the 21st century, the increasingly general name of which is the “Great Crisis” (like the descriptive name of Great Depression of 1929), has been an important challenge for practically all the institutions of multilateral cooperation. The crisis has made it clear once again that avoiding the derailment of globalization of trade and finance, and protecting the globe from fragmentation call for enhanced global cooperation and an efficient, flexible and coherent s...

  1. Science and the economic crisis impact on science, lessons from science

    CERN Document Server

    Sylos Labini, Francesco

    2016-01-01

    This book not only explores the ways in which the economic crisis and associated austerity policies have adversely impacted the physical and human infrastructure and conduct of scientific research, but also considers how science can help us to understand the crisis and provide original solutions. Starting with a detailed but accessible analysis of the scientific method and the nature of scientific prediction, the book proceeds to address the failure to forecast the economic crisis and the origins of the continuing inertia in economic policy and theory. Attention is drawn in particular to the shortcomings of neoclassical economics in terms of its description of the economic system as being mechanical in nature and characterized by equilibrium. This perspective mirrors the limitations and outdated ideas of nineteenth century physics, which the book contrasts with the insights offered by modern physics. The impact of neoliberal ideologies on scientific research is also discussed in detail, highlighting their sti...

  2. Effects of the world economic crisis on exports in the CEEC: Focus on the Western Balkans

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    Bjelić Predrag

    2013-01-01

    Full Text Available The world economic crisis that paralyzed the world economy in 2008 and 2009 had a profound impact on all countries in the world. Due to the interconnectedness of national economies the crisis spread rapidly from its centre in the United States to the world. There were two main transmission channels for the spread of the crisis between countries - international trade and the exchange of private capital between states in the form of foreign direct investment (FDI. This economic downturn has greatly influenced the domestic economic stability of the Western Balkan economies. The Western Balkan countries have shaped their economic policy towards European Union (EU membership, resulting in a high degree of liberalization in international economic relations accompanied by a commitment to free international capital movement. Since this region has close economic ties with the EU the crisis spread to the region very quickly, manifesting itself in decreasing regional exports to the EU market and a downward trend of FDI inflow to the region. This paper will focus on the impact of the world economic crisis on the Western Balkan economies and especially on their exports and FDI inflow. Our empirical analysis, based on panel data, uses a wider sample of Central and Eastern European Countries (CEEC which includes the Western Balkans, since we wanted to analyze if the effects of the economic crisis in the Western Balkans are specific or are common to most countries in transition. The analysis shows that Western Balkan exports have suffered due to the crisis, but reveals some interesting results on the different dynamics of export flows which depend on regional trade integration for their destination.

  3. The influence of the sun, moon, climate and economic conditions on crisis incidence.

    Science.gov (United States)

    Snoyman, P; Holdstock, T L

    1980-10-01

    Investigated the relationship between 2,344 cases of crisis incidence over a 1-year period (1976) and geophysical, climatic and seasonal conditions. Results revealed an intricate interactive effect between the variables of sex, nature of crisis, period of analysis, and environmental conditions. Males crisis became more likely, with downward economic trends or decreased solar activity. In contrast to female incidence of crisis, which peaked in spring, that of males peaked in autumn. Increased solar activity was related strongly to the incidence of crisis experienced by people who were retarded, abused drugs and were guilty of assault and/or rape. The waxing of the moon was related closely to cases of assault and/or rape, while retardates were influenced further by the moisture content in the air. Temporal considerations revealed a positive relationship between full moon and crisis incidence on alternate months only. Generally, the increased cloud cover, rainfall and temperature in summer, gave rise to more crisis consultations. Finally, geophysical, climatic and economic conditions also were seen to act in conjunction with each other to influence crisis incidence.

  4. The Benefits of Financial Ratios' as the Indocators of Future Bankruptcy on the Economic Crisis

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    Setia Mulyawan

    2015-08-01

    Full Text Available It is proved that financial ratios can predict future bankruptcy even on high uncertainty conditions such as an economic crisis. The research indicates that the accuracy of prediction is more increasing in line with a coming bankruptcy.The result of the research shows that four years before a corporate becomes bankrupt there have been significant differences of financial ratios between bankrupt company and sustained one. The ratios of liquidity, profitability, activity, and return on investment of sustained company are higher; while the leverage ratio is lower.The dominant influencing financial ratios toward a bankruptcy are liquidity and leverage ratios. The research finds that from ten tested ratios, Current Asset to current liabilities and total liabilities to total asset are the dominant financial ratios. 

  5. Suicide Risk and the Economic Crisis: An Exploratory Analysis of the Case of Milan

    Science.gov (United States)

    Merzagora, Isabella; Mugellini, Giulia; Amadasi, Alberto; Travaini, Guido

    2016-01-01

    In the past five years, several scientific articles have claimed that the increase some countries have registered in suicide rates since 2008 is somehow related to the economic crisis. Other research has suggested that the impact of specific economic problems on the probability of suicidal behavior is often mediated by other individual-level factors, mainly psychological and physical, whose negative influence is exacerbated by reductions in the availability of health and social care during an economic crisis. On the basis of almost 1,000 cases of suicide collected by the Institute of Forensic Medicine in the province of Milan, this article aims at testing whether suicidal probability during an economic crisis is influenced by the interaction between an individual’s employment status and the presence of psychological or physical disease. Using a binary logistic regression model, this article demonstrates that the likelihood of suicide during an economic crisis is three times higher for persons affected by a severe disease, either physical or psychological, than for people who are not affected (OR = 3.156; 95% CI = 1.066–9.339; p = 0.38). Neither employment status nor the interaction between employment status and health status contributed to the difference between the suicide rate before and during the economic crisis. PMID:28033341

  6. A new vision on competitiveness within the post-crisis economy. Causes, evolutions and possible innovative solutions to fight against the undesirable effects of the economic crisis

    Directory of Open Access Journals (Sweden)

    Laura Mariana CISMAŞ

    2013-10-01

    Full Text Available The main objective of this paper is to highlight the need for promoting a new vision regarding competitiveness mostly in the context of amplifying the effects and the complexity of the nature of crisis manifested now on the international level (economic, environment, demographic, value and moral etc..The economic thinking pays increased attention to the issues related to economic crisis, as well as the development of theories that give satisfactory answers about the causes and, especially, the solutions to the crisis.Using scientific observation and comparative case study as research methods, this paper aims to make a theoretical critical review of the theories regarding the causes of economic crisis over time and to identify and analyze some anti-crisis policies.

  7. The necessity of implementation of ERP systems within the actual economical-financial crisis

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    Gavrila A.

    2009-06-01

    Full Text Available Initially started in the USA as a subprime crisis, the actual financial crisis tends to be transformedin one of the most powerful economical crisis that was known in the last ten years, and some of the analystspredict that this crisis is even worse than the one that took place in the ’30 years. In these conditions, seems tobe very natural that all the companies to look up for surviving solutions during this period, and one of themost popular methods to fight against the negative effects of the crisis applied by all the companies is the costreduction. We may consider also that such a period could represent in the same time an opportunity for thecompanies to reconsider the business processes and repositioned in the actual context of the market, and forthis a considerable help could be implementation of an ERP system.

  8. IMPERATIVES OF SYSTEM-BASED REFORMATION OF UKRAINIAN ECONOMICS IN CONDITIONS OF CRISIS

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    Valentyna PIDGIRNA

    2016-12-01

    Full Text Available The article deals with actual problems of Ukrainian challenges and obstacles in the country’s way to transformational changes. In this context, the anti-crisis concepts by Paul Krugman, the winner of the 2008 Nobel Memorial Prize in Economic Sciences; those by John Maynard Keynes, the greatest ever economist, as well as the same by leading Ukrainian scient­ists have been analyzed, and the practicability of their “recipes” to help overcome the present-day Ukrainian crisis was discussed. It has been demonstrated that the regulation measures conducted by the state to help meet the crisis would not lead to increase of unemployment. The components of top-priority crisis-meeting actions have been suggested with simultaneous em­pha­sis on major anti-crisis measures to stabilize the financial-banking sector and develop the dom­es­tic market.

  9. IMPERATIVES OF SYSTEM-BASED REFORMATION OF UKRAINIAN ECONOMICS IN CONDITIONS OF CRISIS

    Directory of Open Access Journals (Sweden)

    Valentyna PIDGIRNA

    2016-12-01

    Full Text Available The article deals with actual problems of Ukrainian challenges and obstacles in the country’s way to transformational changes. In this context, the anti-crisis concepts by Paul Krugman, the winner of the 2008 Nobel Memorial Prize in Economic Sciences; those by John Maynard Keynes, the greatest ever economist, as well as the same by leading Ukrainian scientists have been analyzed, and the practicability of their “recipes” to help overcome the present-day Ukrainian crisis was discussed. It has been demonstrated that the regulation measures conducted by the state to help meet the crisis would not lead to increase of unemployment. The components of top-priority crisis-meeting actions have been suggested with simultaneous emphasis on major anti-crisis measures to stabilize the financial-banking sector and develop the domestic market.

  10. The global financial and economic crisis and the main priorities of the European Union for 2020

    Directory of Open Access Journals (Sweden)

    Constantinescu, A.

    2013-06-01

    Full Text Available This study focuses on the global financial-economic crisis and the main priorities of the European Union for 2020. The duration of a financial economic crisis depends on the macroeconomic factors taken into account, because their representation can have multiple nuances, generated by subjective and political influences. The financial and economic crisis had a significant impact on public finances, business, jobs and families. At all levels, the decision makers in public policy will have to find ways of triggering economic dynamism, while the margin of manoeuvre in what concerns the budget is limited. As the recorded deficit in the public sector will be again under control, public expenditure will be such organized that the targets for 2020 are met.

  11. The economic crisis and its management in Spain

    Directory of Open Access Journals (Sweden)

    Andrea ÉLTETŐ

    2011-06-01

    Full Text Available The long pre-crisis period of growth and employment creation in Spain was based mainly on the construction sector. This, facilitated by cheap bank loans created jobs for the millions of immigrants arriving in the country. The crisis made the Spanish economy sink into a deep recession in 2008. The aim of this article is to describe the Spanish crisis-management in the past years. The extremely high unemployment rate and the indebtedness made policy-makers to adopt austerity measures and realise the necessity of profound reforms. The biggest transformation processes began among the savings banks and on the labour market. The article concludes that these reforms should continue while it is necessary to find a new model for long-term growth. Endowments like the excellent infrastructure and successful companies, stronger export activity, international presence and innovation can provide the bases for such a durable growth.

  12. The Global Economic Crisis, Poverty and Education: A Perspective from India

    Science.gov (United States)

    Nambissan, Geetha B.

    2010-01-01

    Debates on the global economic recession have failed to draw adequate attention to the meaning of the crisis for the poor and their education, especially in later developing societies. In this paper, I focus on the education of children of the poor in India--a country that has experienced economic slowdown rather than recession. Available research…

  13. The Financial Crisis and the Death (or Hegemony) of Development Economics

    Science.gov (United States)

    Rajan, Raghuram

    2010-01-01

    "Development economics" was the study of how to create the plumbing that would allow developing economies to become developed. The financial crisis leads us to question whether industrialized countries have the plumbing problem solved and thus leads us to question whether we need a development economics that is separate from macroeconomics.…

  14. The Global Economic Crisis, Poverty and Education: A Perspective from India

    Science.gov (United States)

    Nambissan, Geetha B.

    2010-01-01

    Debates on the global economic recession have failed to draw adequate attention to the meaning of the crisis for the poor and their education, especially in later developing societies. In this paper, I focus on the education of children of the poor in India--a country that has experienced economic slowdown rather than recession. Available research…

  15. The Economic Crisis Hits Home: The Unfolding Increase in Child & Youth Homelessness

    Science.gov (United States)

    Duffield, Barbara; Lovell, Phillip

    2008-01-01

    While the economic downturn has appropriately become the top priority of policy makers, one element of the crisis has gone largely unnoticed: its impact on children and youth. Largely due to the economic and housing crises, many school districts across the country report increases in the number of homeless students in the classroom. "The Economic…

  16. The Financial Crisis and the Death (or Hegemony) of Development Economics

    Science.gov (United States)

    Rajan, Raghuram

    2010-01-01

    "Development economics" was the study of how to create the plumbing that would allow developing economies to become developed. The financial crisis leads us to question whether industrialized countries have the plumbing problem solved and thus leads us to question whether we need a development economics that is separate from macroeconomics.…

  17. The Role of School Counsellors during the Cultural and Economic Crisis

    Directory of Open Access Journals (Sweden)

    Laura Rozman

    2014-06-01

    Full Text Available In the article we focus on the role of school counselling services in solving the cultural and economic crisis. In the theoretical part we first define the tasks, roles and meaning of school counselling service or of school counsellors, and the meaning of the terms cultural and economic crisis. We see social responsibility as a way out of the crisis. In the empirical part we then present the results of a survey research carried out on this topic among school counsellors in Slovenian basic and secondary schools. The intention of the study was to determine in what ways the school counsellors perceive this crisis, what knowledge they had in the field of work and in what ways they estimate the importance of individual school professional in solving the problem.

  18. China: Global Crisis Avoided, Robust Economic Growth Sustained (Ⅱ)

    Institute of Scientific and Technical Information of China (English)

    Gallina Andronova Vincelette; Alvaro Manoel; Ardo Hansson; Louis Kuijs

    2010-01-01

    @@ Ⅲ. Global crisis: impact and policy response The financial crisis that originated in the developed world intensified in September 2008 in the United States and began to spread globally. Since Lehman Brothers' bankruptcy,many other systemically relevant financial institutions (such as Freddie Mac, Fannie Mae, AIG, Merrill Lynch, and CitiGroup) have faced serious financing difficulties. In spreading beyond the United States and beyond the financial sector into the international money and capital markets, the previously heavy capital inflows to emerging market economies quickly and abruptly reversed. These developments did not leave China unaffected.

  19. Crisis as a Factor of the Sustainability Violation in the Economic Systems

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    Dzhereliuk Iuliia O.

    2017-01-01

    Full Text Available The article substantiates that crisis is a factor of violation of the enterprise’s sustainability as economic system, crisis can occur at all stages of the life cycle of enterprise, act as a brake against the further development of enterprise and its movement to the next stage of development. On the basis of theoretical generalization, the author’s own approach to the definition of concept of «crisis» is presented. Causes of occurrence of crisis were generalized depending on certain stage of the life cycle of enterprise. It has been specified that crisis poses a threat to the sustainability of enterprise, but, despite this, it is the regularity and necessity of development, which in all its manifestations and consequences will be overcome by anti-crisis. The theoretical approaches by different scientists as to interpretation of the concept of «anti-crisis sustainability» were considered that allowed to substantiate the author’s own approach to the interpretation of this concept. Prospects for further research in this directions will be systematization of the factors to ensure the anti-crisis sustainability of enterprise in a competitive environment.

  20. The global economic crisis and marketing activities in Russia

    OpenAIRE

    Kaluzhsky, Mikhail

    2010-01-01

    Article on the impact of the crisis in the global economy on marketing strategy in Russia. The author substantiates the thesis of the decline in the value of methods of promoting the marketing mix and a gradual return to the dominance of the marketing concept of the distribution.

  1. Challenges to the Mediterranean diet at a time of economic crisis.

    Science.gov (United States)

    Bonaccio, M; Bes-Rastrollo, M; de Gaetano, G; Iacoviello, L

    2016-12-01

    The traditional Mediterranean diet (MD) is reportedly associated with lower risk of major chronic diseases and long considered to contribute to the reduced rates of cardiovascular and cerebrovascular events and to the highest life expectancy in adults who lived near the Mediterranean Sea. But despite its widely documented health benefits, adherence to this dietary pattern has been rapidly declining over the last decades due to a clear socioeconomic influence. The present review provides an overview of the evidence on the current major determinants of adherence to the Mediterranean diet, with a particular emphasis on Mediterranean Countries at a time of economic crisis; second it explores emerging socioeconomic inequalities in other domains of healthy dietary behaviours such as dietary variety, access to organic foods and food purchasing behaviour. According to ecological evidence, the Mediterranean Countries that used to have the highest adherence to the Mediterranean pattern in the Sixties, more recently experienced the greatest decrease, while Countries in Northern Europe and some other Countries around the world are currently embracing a Mediterranean-like dietary pattern. A potential cause of this downward trend could be the increasing prices of some food items of the Mediterranean diet pyramid. Recent evidence has shown a possible involvement of the economic crisis, material resources becoming strong determinants of the adherence to the MD just after the recession started in 2007-2008. Beyond intake, the MD also encourages increasing dietary diversity, while international dietary recommendations suggest replacing regular foods with healthier ones. Socioeconomic factors appear to be major determinants of the adherence to MD and disparities also hold for other indices of diet quality closely related to this dietary pattern. Copyright © 2016 The Italian Society of Diabetology, the Italian Society for the Study of Atherosclerosis, the Italian Society of Human

  2. CURRENT STATE AND DEVELOPMENT OF THE FISHERIES SECTOR OF UKRAINE IN THE CRISIS

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    І. Hrytsyniak

    2015-03-01

    Full Text Available Purpose. Fisheries has a strategic importance for supplying the population with food, while the sectors of the national economy with raw materials, for strengthening the country’s position in the international arena, for preserving spatial and national integrity of Ukraine, plays an important role in the restoration of natural resources and in the increase in employment. In recent years, fisheries sector of Ukraine is in a severe, protracted economic crisis. Considering its socio-economic and strategic importance for the state, there is a task for developing an effective policy for fisheries development in Ukraine that defines the relevance of the research and practical importance of its results. Thus, a compilation and analysis of the existing information on the current state and development of fisheries sector in the crisis period will allow a deeper understanding of problems in the fisheries sector in Ukraine and finding quick solutions. The main goal of the state policy in the field of fisheries in Ukraine has to be meeting the needs of the population in fish and fish products by creating conditions for effective operations and development of aquaculture and fishing enterprises. Findings. The article reviews the current state of the development of fisheries sector in Ukraine, consumption, catch, processing of fish and seafood, dynamics of fish product exports and imports, legislative and regulatory framework of fisheries sector, state of the implementation of WTO and EU requirements, as well as finding ways for the fisheries sector out from the crisis. Originality. This work is a compilation of the information on the current state of fisheries sector development in Ukraine. The information is provided in the form of a coherent presentation of information on the current state of fisheries sector in Ukraine, both in the domestic and foreign markets. Practical Value. The fact that the fisheries sector of Ukraine is still in a depressive state

  3. Home health nursing care services in Greece during an economic crisis.

    Science.gov (United States)

    Adamakidou, T; Kalokerinou-Anagnostopoulou, A

    2017-03-01

    The purpose of this review was to describe public home healthcare nursing services in Greece. The effectiveness and the efficiency of home healthcare nursing are well documented in the international literature. In Greece, during the current financial crisis, the development of home healthcare nursing services is the focus and interest of policymakers and academics because of its contribution to the viability of the healthcare system. A review was conducted of the existing legislation, the printed and electronic bibliography related to the legal framework, the structures that provide home health care, the funding of the services, the human resources and the services provided. The review of the literature revealed the strengths and weaknesses of the existing system of home health care and its opportunities and threats, which are summarized in a SWOT analysis. There is no Greek nursing literature on this topic. The development of home health nursing care requires multidimensional concurrent and combined changes and adjustments that would support and strengthen healthcare professionals in their practices. Academic and nursing professionals should provide guidelines and regulations and develop special competencies for the best nursing practice in home health care. At present, in Greece, which is in an economic crisis and undergoing reforms in public administration, there is an undeniable effort being made to give primary health care the position it deserves within the health system. There is an urgent need at central and academic levels to develop home healthcare services to improve the quality and efficiency of the services provided. © 2016 International Council of Nurses.

  4. A Comparative Study of Cognitive Schemas of HRM During Economic Crisis in Two Slovenian Sectors

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    Ana Arzenšek

    2012-03-01

    Full Text Available The main objective of this article is to present a qualitative studyof HRM schemas in the recent economic crisis in Slovenia. Cognitiveschemas influence perception and behavior and serve aspowerful sense-making frameworks. In-depth interviews with 16ceos, HR executives and trade unionists from the production andservice sectors and analyses of annual reports were conducted tofind the content of their HRM schemas. In addition, a comparisonbetween schemas from companies from both sectors was made.Results reveal that HRM schemas in companies from the financialsector include more ‘HRM is bureaucratic’ attributes, whereas incompanies from the automotive sector ‘HRM is strategic’ attributesprevail. In companies’ annual reports, the socially responsiblerole of HRM toward employees is only moderately present. Whilethe crisis in 1990s was an influential factor for the sense-makingand ‘flexibility is crucial’ attribution in companies in the automotivesector, the current HRM schema in selected companies fromthe financial sector was influenced by the occurrence of conjuncture.

  5. Corporate boards, ownership structure and firm performance in an environment of severe political and economic crisis

    OpenAIRE

    2012-01-01

    This study examines the relationship between board and ownership structures and firm performance in an environment of severe political and economic crisis. Using panel data from the Zimbabwe Stock Exchange (ZSE) for the period 2000-2005, we split the period into prepresidential election period (2000-2002) (a relatively stable political and economic period) and post-presidential election period (2003-2005) (a hostile political and economic period) to capture the differences in the political an...

  6. STABILITY OF THE PARTICIPATION BANKING SECTOR AGAINST THE ECONOMIC CRISIS IN TURKEY

    Directory of Open Access Journals (Sweden)

    Metin Aktaş

    2013-01-01

    Full Text Available The purpose of this article is to analyze whether participating banking sector is more stable than conventional banking sector during the global economic crisis. The main point is that which banking system are financially less affected from the global economic crisis. For this anlysis, we have used trend analysis method for 2006-2011 on yearly basis. In this study, yearly financial ratios of conventional and participating banking sectors were utilized. Financial ratios can be sorted as profitability, liquidity, risknesss and asset quality ratios. Results of the study show that participating banking sector is more stable than conventional banking sector in terms of profitability, riskiness and liquidity during the analysis term which includes 2008 global economic crisis. In addition, both sectors are almost similiar and stable in terms of asset quality.

  7. The true cost of the economic crisis on psychological well-being: a review.

    Science.gov (United States)

    Van Hal, Guido

    2015-01-01

    The recent economic crisis has led to many negative consequences, not the least having to do with the mental health and well-being of the populations involved. Although some researchers say it is still too early to speak about a relationship between the economic crisis and a rise in mental health problems resulting in suicides, there is solid evidence for the existence of such a relationship. However, several moderating or mediating mechanisms can also play a role. The main reactions of most policy makers to the economic crisis are (severe) austerity measures. These measures seem to have, however, a detrimental effect on the mental health of the population: Just when people have the highest need for mental help, cost-cutting measures in the health care sector lead to a (substantial) drop in the supply of services for the prevention, early detection, and cure of mental health problems. Policy makers should support moderating mechanisms such as financial and psychological coping and acculturation and the role of primary health care workers in the early detection of suicidal thoughts, suicide attempts, and suicide in times of economic recession. Several examples show that the countries best off regarding the mental health of their populations during the economic crisis are those countries with the strongest social safety net. Therefore, instead of cutting back on health care and social welfare measures, policy makers should in the future invest even more in social protection measures during economic crises.

  8. Perception of economic crisis among Spanish nursing students: Its relation to burnout and engagement.

    Science.gov (United States)

    Manzano-García, Guadalupe; Montañés, Pilar; Megías, Jesús L

    2017-05-01

    The high levels of indebtedness and deficit of Spain's autonomous communities as a consequence of the national and European economic crisis have caused radical changes in the Spanish National Health Service. At the present time, the economic crisis is seriously affecting nurses in several European countries, and especially in Spain. The aim of this study was to analyse whether nursing students' perceptions of economic crisis influence their levels of burnout and engagement in relation to their studies. We have also tried to clarify the relationship of sociodemographic variables (age and gender) and personal control factors (self-efficacy, locus of control and success) with these factors. This was a transversal study based on descriptive and inferential statistical analysis. Analysis of the quantitative data was performed using Statistical Package for Social Sciences, IBM 19.0 (SPSS, 2010). 166 nursing students participated in the study, comprising 142 women and 24 men studying in Schools of Nursing in the North of Spain. They completed various questionnaires to gather information on sociodemographic variables and measure burnout, engagement, locus of control, expectations of success and perceptions of threat due to the economic crisis. Higher perception of economic crisis by the students is related to higher scores for burnout and lower scores for engagement. The scores for burnout were also positively predicted by external locus of control and negatively predicted by perception of self-efficacy. The age of participants is related to lower levels of burnout and higher levels of engagement. Finally, expectation of success also positively predicted the level of engagement. The results demonstrate the importance of the perceptions of the economic crisis on the development of burnout and engagement among nursing students. Copyright © 2017 Elsevier Ltd. All rights reserved.

  9. The Economic Crisis and the Solidarity of Social Insurance Systems

    Directory of Open Access Journals (Sweden)

    Domnica Doina Parcalabu

    2015-04-01

    Full Text Available In the first section we will briefly introduce the main impact of the global crisis on Romanian macroeconomics, financial markets with special focus on the pension systems, as well as the outlook of the international rating agencies and of the financial institutions regarding the reform solutions. The second section tackles the solidarity dimension of pension schemes, i.e. concepts like inter-generational, intra-generational, gender, and fiscal solidarity. The third section describes the pension reform measures tackled during the crisis providing also concise country profiles in CEE. These measures were mostly envisaged to mandate later retirement, reduce the deficit of Pillar I, change the pension indexation rules, eliminate privileged pension rights for special groups of workers, and improve benefits. The last section is to conclude with some policy implications.

  10. [The economic-financial crisis and health in Spain. Evidence and viewpoints. SESPAS report 2014].

    Science.gov (United States)

    Cortès-Franch, Imma; González López-Valcárcel, Beatriz

    2014-06-01

    The objectives of the SESPAS 2014 Report are as follows: a) to analyze the impact of the economic crisis on health and health-related behaviors, on health inequalities, and on the determinants of health in Spain; b) to describe the changes in the Spanish health system following measures to address the crisis and assess its potential impact on health; c) to review the evidence on the health impact of economic crises in other countries, as well as policy responses; and d) to suggest policy interventions alternative to those carried out to date with a population health perspective and scientific evidence in order to help mitigate the impact of the economic downturn on health and health inequalities. The report is organized in five sections: 1) the economic, financial and health crisis: causes, consequences, and contexts; 2) the impact on structural determinants of health and health inequalities; 3) the impact on health and health-related behaviors, and indicators for monitoring; 4) the impact on health systems; and 5) the impact on specific populations: children, seniors, and immigrants. There is some evidence on the relationship between the crisis and the health of the Spanish population, health inequalities, some changes in lifestyle, and variations in access to health services. The crisis has impacted many structural determinants of health, particularly among the most vulnerable population groups. Generally, policy responses on how to manage the crisis have not taken the evidence into account. The crisis may contribute to making public policy vulnerable to corporate action, thus jeopardizing the implementation of healthy policies. Copyright © 2014 SESPAS. Published by Elsevier Espana. All rights reserved.

  11. The Effects of 1929 Economic Depression and 2008 Global Crisis on Turkey’s Economy

    Directory of Open Access Journals (Sweden)

    Nihat IŞIK

    2012-06-01

    Full Text Available In this paper; effects of 1929 Economic Depression and 2008 Global Crisis on Turkey’s economy is studied with the help of selected indicators. Turkey, which had an agriculture oriented economy during 1929 Depression, experienced a deflationist process caused by fallings at agricultural product prices; shrank in the economy and widely decreases at foreign trade volume. 2008 Global Crisis effected Turkish economy negatively in terms of multiple economic variables such as huge depreciations in the stock market, shrinkages in foreign trade volume, degradations in real sector and consumer confidence indexes etc.

  12. Typology of consumer behavior in times of economic crisis: A segmentation study from Bulgaria

    Directory of Open Access Journals (Sweden)

    Katrandjiev Hristo

    2011-01-01

    Full Text Available This paper presents the second part of results from a survey-based market research of Bulgarian households. In the first part of the paper the author analyzes the changes of consumer behavior in times of economic crisis in Bulgaria. Here, the author presents market segmentation from the point of view of consumer behavior changes in times of economic crisis. Four segments (clusters were discovered, and profiled. The similarities/dissimilarities between clusters are presented through the technique of multidimensional scaling (MDS The research project is planned, organized and realized within the Scientific Research Program of University of National and World Economy, Sofia, Bulgaria.

  13. SMEs capital structure determinants during severe economic crisis: The case of Greece

    Directory of Open Access Journals (Sweden)

    D. Balios

    2016-12-01

    Full Text Available The objective of this paper was to explore whether and how the main capital structure determinants of SMEs affected capital structure determination in different ways during the years of economic crisis. We used panel data of 8,052 SMEs operating in Greece during 2009–2012. We found that the effect of capital structure determinants on leverage does not change in an environment of economic crisis; larger SMEs continued to show higher debt ratios, the relationship between profitability and tangibility of assets with leverage continued to be negative, and growth was positively related to leverage.

  14. The Skyscraper Index: A Foreshadowing of Economic Crisis

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    For politicians and the public at large, skyscrapers -- gigantic buildings backed by huge economic power -- are a symbol of social progress and economic prosperity. Contrary to this popular belief, some economists argue that the emergence of skyscrapers and those reaching new heights in particular, would more often than not precede economic downturns.

  15. [Problems of work world and its impact on health. Current financial crisis].

    Science.gov (United States)

    Tomasina, Fernando

    2012-06-01

    Health and work are complex processes. Besides, they are multiple considering the forms they take. These two processes are linked to each other and they are influenced by each other. According to this, it is possible to establish that work world is extremely complex and heterogeneous. In this world, "old" or traditional risks coexist with "modern risks", derived from the new models of work organization and the incorporation of new technologies. Unemployment, work relationships precariousness and work risks outsourcing are results of neoliberal strategies. Some negative results of health-sickness process derived from transformation in work world and current global economic crisis have been noticed in current work conditions. Finally, the need for reconstructing policies focusing on this situation derived from work world is suggested.

  16. The Economic Crisis and Acute Myocardial Infarction: New Evidence Using Hospital-Level Data

    Science.gov (United States)

    Maggioni, Aldo Pietro

    2015-01-01

    Objective This research sought to assess whether and to what extent the ongoing economic crisis in Italy impacted hospitalizations, in-hospital mortality and expenditures associated with acute myocardial infarction (AMI). Methods The data were obtained from the hospital discharge database of the Italian Health Ministry and aggregated at the hospital level. Each hospital (n = 549) was observed for 4 years and was geographically located within a “Sistema Locale del Lavoro” (SLL, i.e., clusters of neighboring towns with a common economic structure). For each SLL, the intensity of the crisis was determined, defined as the 2012–2008 increase in the area-specific unemployment rate. A difference-in-differences (DiD) approach was employed to compare the increases in AMI-related outcomes across different quintiles of crisis intensity. Results Hospitals located in areas with the highest intensity of crisis (in the fifth quintile) had an increase of approximately 30 AMI cases annually (approximately 13%) compared with hospitals in area with lower crisis intensities (pcrisis. Policies aimed to contrast unemployment in the community by keeping and reintegrating workers in jobs could also have positive impacts on adverse health outcomes, especially in areas of high crisis intensity. PMID:26574745

  17. Impact of the economic crisis on the activity of a clinical research ethics committee

    Directory of Open Access Journals (Sweden)

    Paula Arcenillas

    2014-11-01

    Full Text Available Purpose: Analyze the impact of economic and social crisis in volume and funding of clinical trials (CT and observational studies (ES from the activity of an Research Ethics Committee (REC. Method: REC memories 2003-2012 were reviewed. Financing of evaluated projects, CT and OS were analyzed classifying them into four groups: 1 promoted by pharmaceutical industry, 2 by scientific societies with industry support, 3 by scientific societies with government support and 4 unfunding.Two periods were compared: pre-crisis (2003-2007 and crisis (2008-2012. Results: During 10 studied years, 744 protocols were evaluated: a 71% of group 1, a 9% of group 2, a 3% of group 3 and a 17% was no funding. Regarding OS, 40%, 5,4%, 8,6% and 46% were the groups 1, 2, 3 and 4 respectively. Analyzing crisis versus pre-crisis period, statistically significant differences were observed in the decreasing of number of CT phase 2 and 3 and in the rising EO. Comparing crisis related to the pre-crisis period, the Group 4 increased statistically significantly. Conclusions: Evolution of total number of studies evaluated by REC tends to be maintained and even increased over time. REC maintains its activity and even increased at the expense of financing and unfunded OS.

  18. [Impact of the economic crisis on the activity of a clinical research ethics committee].

    Science.gov (United States)

    Redondo Capafons, S; Arcenillas, Paula; Giménez, Nuria; March López, Pablo; Soriano, Laura; Pla, Ramon; Quintana, Salvador

    2014-11-03

    Analyze the impact of economic and social crisis in volume and funding of clinical trials (CT) and observational studies (ES) from the activity of an Research Ethics Committee (REC). REC memories 2003-2012 were reviewed. Financing of evaluated projects, CT and OS were analyzed classifying them into four groups: 1) promoted by pharmaceutical industry, 2) by scientific societies with industry support, 3) by scientific societies with government support and 4) unfunding.Two periods were compared: pre-crisis (2003-2007) and crisis (2008-2012). During 10 studied years, 744 protocols were evaluated: a 71% of group 1, a 9% of group 2, a 3% of group 3 and a 17% was no funding. Regarding OS, 40%, 5,4%, 8,6% and 46% were the groups 1, 2, 3 and 4 respectively. Analyzing crisis versus pre-crisis period, statistically significant differences were observed in the decreasing of number of CT phase 2 and 3 and in the rising EO. Comparing crisis related to the pre-crisis period, the Group 4 increased statistically significantly. Evolution of total number of studies evaluated by REC tends to be maintained and even increased over time. REC maintains its activity and even increased at the expense of financing and unfunded OS. Copyright AULA MEDICA EDICIONES 2014. Published by AULA MEDICA. All rights reserved.

  19. The current crisis in human resources for health in Africa

    African Journals Online (AJOL)

    resource and training policies, weak institutions, and inappropriate structures [1]. Dimensions of the human resource crisis: .... medical personnel are often misused for management ... redefinition of functions, reforms in the staffing standards,.

  20. Economic crisis and women's labor force return after childbirth: Evidence from South Korea

    Directory of Open Access Journals (Sweden)

    Li Ma

    2014-08-01

    Full Text Available Background: Most research on women's labor force return after childbirth concentrates on industrialized countries in the West; the link between economic swings and mothers' work-return behavior is rarely addressed. This study closes these gaps by focusing on South Korea, a developed society in East Asia that has in recent decades witnessed increases in female labor force participation and dramatic economic ups and downs. This is the first relevant study on South Korea. Objective: This study examines how women's labor force return after childbirth (with and without career interruption and their career prospects upon work return varied before, during, and after the Asian financial crisis in South Korea. Methods: Logistic and hazard regression models were applied to the Korea Labor and Income Panel Study (KLIPS waves 1-10. Results: The study reveals an increase in women's immediate work return after childbirth without career interruption since the 1980s. The Asian financial crisis boosted this immediate return pattern. The implementation of job-protected maternity leave further contributed to this pattern. Women who underwent career interruption at first birth were also more likely to re-enter the labor market during and after the crisis than before. Downward occupational moves were especially common during the period of financial crisis. Conclusions: The results suggest that the Asian financial crisis triggered a noticeable change in women's post-birth work-return behavior. The economic volatility pushed mothers to hold onto their role in the labor force more strongly than before.

  1. THE ACCURACY OF UNEMPLOYMENT RATE FORECASTS IN ROMANIA AND THE ACTUAL ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Mihaela BRATU (SIMIONESCU

    2012-12-01

    Full Text Available In this study, the problem of forecasts accuracy is analysed on three different forecasting horizons: during the actual economic crisis, in few years before the crisis and on a large horizon. The accuracy of the forecasts made by European Commission, National Commission for Prognosis (NCP and Institute for Economic Forecasting (IEF for unemployment rate in Romania is assessed. The most accurate predictions on the forecasting horizons 2001-2011 and 2009-2011 were provided by IEF and the less accurate by NCP. These results were gotten using U1 Theil’s statistic and a new method that has not been used before in literature in this context. The multi-criteria ranking was applied to make a hierarchy of the institutions regarding the accuracy and five important accuracy measures were taken into account at the same time: mean errors, mean squared error, root mean squared error, U1 and U2 statistics of Theil. In few years before crisis (2006-2008 another hierarchy of institutions were gotten using the accuracy criterion: NCP, IEF and EC. The combined forecasts of institutions’ predictions are the best strategy to improve the forecasts accuracy on overall and before the crisis. During the economic crisis IEF provided the most accurate predictions, the combined forecasts being a good strategy of improving only the forecasts made by NCP and EC using inversely MSE scheme and equally weighted scheme. The assessment and improvement of forecasts accuracy have an important contribution in growing the quality of decisional process.

  2. The variable impact of the global economic crisis in South East Europe

    Directory of Open Access Journals (Sweden)

    Bartlett Will

    2011-01-01

    Full Text Available This paper studies the variable impact of the global economic crisis on the countries of South East Europe. The central question is whether the institutional reforms introduced during the transition period have enabled countries to cope with external shocks such as those associated with the recent global economic crisis. The transmission mechanisms of the crisis to the region are identified as contractions of credit, foreign direct investment, remittances, and exports, and their variable impact across countries is assessed. Several types of institutions are examined, including the degree to which countries have adopted the acquis communautaire, determined by the extent of their EU integration, progress with transition, and the broad institutional environment measured through the quality of governance. The paper asks whether countries with a more flexible economy due to faster progress with transition reforms were better able to adjust to the impact of external shocks. It concludes that the variable impact of the global crisis in the region can be explained mainly by their degree of integration into the global economy, and that the institutional reforms that were introduced during the boom times have made countries more integrated into the global economy, and therefore more vulnerable to the impact of the global economic crisis.

  3. Gender regimes and the challenges of macroeconomic paradigm in Serbia in the light of the global economic crisis

    Directory of Open Access Journals (Sweden)

    Đurić-Kuzmanović Tatjana

    2011-01-01

    Full Text Available The paper is focused on the causes and gender effects of the current global economic crisis, its particular effects in the Republic of Serbia and on the possibilities of overcoming the crisis. Using feminist development economics perspective this paper offers criticism of neo-liberalism with respect to the crisis. The strong imbalance in the relationships between work and capital is explained as a result of neoliberal deregulation and separation of the market economy from social and natural reproduction, as well as ignoration of the hierarchical relation established between paid work and care as unpaid work performed mainly by women. With regard to Serbia, when foreign capital is lacking, privatization funds are empty and the structure deficit is significant, the economy has faced decrease in income, rise in unemployment, fall in aggregate demand and women and children suffer the most. A new gender sensitive development strategy should re-address the current unequal power relationship, so that all people can exercise choices that would lead them to a fulfilled life.

  4. Economic crisis and levels of political participation in Europe (2002-2010): the role of resources and grievances

    NARCIS (Netherlands)

    Kern, A.; Marien, S.; Hooghe, M.

    2015-01-01

    This article examines the effect of the recent economic crisis on political participation levels in Europe. As the civic voluntarism model and grievances theory predict different effects of economic downturn on political participation, the crisis provides a unique context to evaluate the explanatory

  5. Learning from Bjartur About Today's Icelandic Economic Crisis

    Directory of Open Access Journals (Sweden)

    Maria Pia Paganelli

    2010-03-01

    Full Text Available Economies are complex systems resulting from human action but not from human design. The economic success of Iceland in recent decades was the result of the development of good institutions combined with a positive global economic climate. The recent economic downturn, not just in Iceland but around the world, should be a reminder that good institutions matter and should serve as an exhortation to continue building good institutions rather than dismissing them in favor of institutions that generate poverty.

  6. Macroeconomics, Economic Crisis and Electoral Outcomes: A National European Pool

    OpenAIRE

    Dassonneville, Ruth; Lewis-Beck, Michael

    2012-01-01

    An abundance of comparative survey research has established the presence of economic voting as a individual force in European elections. But the hypothesis of economic voting at the aggregate level, with macroeconomics influencing overall electoral outcomes, rests on shakier ground. Indeed, there might be a micrological fallacy at work, with the individual economic vote effect not adding up to a national electoral effect after all. We examine this possibility through rigorous analysis of a la...

  7. Crisis in the habitat of the economic growth monster

    DEFF Research Database (Denmark)

    Urhammer, Emil

    2014-01-01

    This article is inspired by empirical philosophy and provides an analysis of economic growth as a monster that circulates within collectives. Using this approach, I illustrate how economic growth has participated in shaping institutions and language, thus having necessitated its own circulation...... to such an extent that it has become the most prioritised economic policy objective, whereas urgent issues regarding living conditions on Earth are either ignored or treated as secondary priorities. Further, I argue that noble attempts to contest economic growth contribute to the circulation of the monster...

  8. Global imbalances,the financial crisis and China’s economic recovery

    Institute of Scientific and Technical Information of China (English)

    张晓晶; 汤铎铎; 林跃勤

    2009-01-01

    This paper examines the inherent relationship between the global imbalance and the financial crisis from historical review and a survey of the literature.This paper sets up a two-country model featured by monetary hegemony showing that the financial crisis of 2008 is interrelated with the United States’ expansionary monetary policy and the hegemony of the U.S.dollar.This paper then analyses the impact of the crisis and the policy responses,focusing on the preconditions for China’s economic recovery.Through an international comparison,we argue that one of the Great Depression’s lessons is that the exorbitant government intervention in some areas was harmful and that the necessary condition for China’s recovery is economic flexibility,namely,resilient market mechanisms.

  9. Returns to Education During and After the Economic Crisis: Evidence from Latvia 2006–2012

    Directory of Open Access Journals (Sweden)

    Vilerts Karlis

    2017-03-01

    Full Text Available We employ EU-SILC micro data for Latvia to study how returns to education changed during the economic crisis of 2008–2009 and afterwards. We found that returns to education increased significantly during the crisis and decreased slightly during the subsequent economic recovery. The counter-cyclical effect was evident in nearly all population groups. After the crisis, education became more associated than before with a longer working week and a higher employment probability. Furthermore, we show that returns to education in Latvia are generally higher in the capital city and its suburbs than outside the capital city region, as well as for citizens of Latvia than for resident non-citizens and citizens of other countries, but lower for males and young people. Wage differential models reveal a relatively large wage premium for higher education and a rather small one for secondary education. Estimates obtained with instrumental variable (IV models significantly exceed the OLS estimates.

  10. [Impact of the economic crisis on the right to a healthy diet. SESPAS report 2014].

    Science.gov (United States)

    Antentas, Josep Maria; Vivas, Esther

    2014-06-01

    The present article analyzes the impact of the economic crisis on food consumption in Spain, the most affected social profiles, and the consequences of changing patterns of food consumption on health. This article is based on official reports and previous empirical studies. The crisis has affected diet and food consumption. Families are attempting to spend less money on food. Food insecurity is rising and the most affected groups are those spending a higher proportion of their income on food. Cuts in food spending run parallel with unhealthy eating habits that encourage obesity. Consequently, the crisis contributes to undermining the right to a healthy diet, recognized by the International Covenant on Economic, Social and Cultural Rights of the United Nations. Copyright © 2013 SESPAS. Published by Elsevier Espana. All rights reserved.

  11. Eastern immigrants strategies in spain during the economic crisis

    Directory of Open Access Journals (Sweden)

    Rafael Viruela

    2016-02-01

    Full Text Available The Great Recession, which began in late 2007, is manifested primarily as employment crisis and mainly affects the immigrant population. Most immigrants have decided to remain in Spain, and to mitigate the effects of the crisis, several strategies have been deployed in the productive and reproductive spheres. One response to the progressive degradation of the labor market has been the internal and transnational geographical mobility, which takes various strategies: return to the country of origin, migration to a third country, and circular migration. The information used in this article comes from in-depth interviews to 64 citizens of Romania and Bulgaria residing in Spain, as well as from and 32 other interviews to family members and returnees, which took place in their countries. To the information coming from the emigrants we add socioeconomic data provided by the National Institute of Statistics and the Ministry of Employment.

  12. Emigration and Economic Crisis: Recent Evidence from Uruguay

    Directory of Open Access Journals (Sweden)

    Adela Pellegrino

    2005-01-01

    Full Text Available Uruguay es uno de los países sudamericanos con una proporción significativa de su población viviendo en el exterior. Desde los años setenta, el país ha tenido una emigración neta. Aunque esta tendencia se debilitó a principios de los noventa, recobró fuerza con la llegada de una severa crisis económica en 1999. En este artículo se discuten las características de la migración reciente de uruguayos y se pone en evidencia la relación entre crisis económica y emigración. El volumen del flujo poblacional en 2002 es comparable con las olas de migración que tuvieron lugar en los setenta. Los emigrantes con educación universitaria están sobrerrepresentados en comparación con la población general. Existe una correlación entre el acceso a redes de emigrantes uruguayos en los países de destino y la probabilidad de que un hogar haya tenido un miembro que emigró en 2002.

  13. The National Bank of Romania monetary policy characteristics in addition to the current financial crisis

    OpenAIRE

    Stefan Sambotin; Andreea Bucur

    2012-01-01

    Considering the starting point for research the Central Bank key role in economic life, through the implementation of the monetary policy, by exercising prudential control and supervision of commercial banks, the present paper proposes an analysis of the National Bank of Romania monetary policy coordinates in the frame of the increased intensification harsh effects of the global economic crisis.

  14. The National Bank of Romania monetary policy characteristics in addition to the current financial crisis

    Directory of Open Access Journals (Sweden)

    Stefan Sambotin

    2012-12-01

    Full Text Available Considering the starting point for research the Central Bank key role in economic life, through the implementation of the monetary policy, by exercising prudential control and supervision of commercial banks, the present paper proposes an analysis of the National Bank of Romania monetary policy coordinates in the frame of the increased intensification harsh effects of the global economic crisis.

  15. How Did We Get to the Deficit Spectrum of the Economic Crisis?

    Directory of Open Access Journals (Sweden)

    Alexandru Bodislav

    2012-06-01

    Full Text Available The economies of developed countries of the 21st century benefit from the unseen-till-now prosperity; life standard that suffered a hard landing starting with 2007 and that seems to evolve in a chain-saw model for the crisis development. The forecast is based on the “first in, last out” principle; first in – the US, last out – the emergent countries that are under the contagion process and under inefficient governance and which started as a subprime crisis and continues as a deficit crisis. These nations produced one of the highest life standards in history. How was this possible? It is believed that the origin of this prosperity (before and after the crisis is in the development of an economic system that embraces the free enterprise, capitalism and competition because prosperity represents is the crossroad between the self interests of many.This research paper tries to underline the factors that led to the actual development of the crisis; from the bankruptcy of Lehman Brothers to the unstable and not well directed actions of governments around the world and to these first tier layers there are added the second tier layers that include the political vantage point that influences the paths that are followed for limiting the negative aspects of the economic crisis and to improve new opportunities that appear as a result of openness and collaboration. The muddling through principle was adopted by the Obama Administration and this fact is one of the main factors that ease the deployment of near future economic improvement for the United States, but for the long run this isn’t a solution to develop a healthy economy and create sustainable economic growth.

  16. An Empirical Analysis of the Effect of Stock Market Crisis on Economic Growth: The Nigerian Case

    Directory of Open Access Journals (Sweden)

    Omowunmi Felicia Olokoyo

    2011-08-01

    Full Text Available Stock market crashes are social phenomena where external economic events combine with crowd behavior and psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. This study empirically established the relationship between stock market crisis and Nigeria’s economic growth and also showed the relationship between stock market price crash and the crisis itself. In this light, this paper examined the interactive influence of movements in the major indicators of the performance of the Nigerian Stock Exchange Market such as the Market Capitalization (MK, All Share Index (ASI, Number of Deals (NOD, Volume and Value of Stock (VV, Total Number of New Issues (TNI and Inflation (INFR on the Nigerian Gross Domestic Product (GDP using data from 1985-2009. To achieve the two objectives stated above, the Ordinary Least Square (OLS method was employed. To correct for the OLS result biasness the log was applied to GDP and MK and also AR(1 was introduced to the first model. The result shows that stock market crisis has a highly significant effect on Nigeria’s economic growth. The result also shows a significant relationship between stock market price crash and the market crisis itself. It is therefore recommended that in the face of the ongoing crisis in the global stock market, the Nigerian stock market authorities should aim at making the market meet a world class standard. Also, all the sectors of the economy should act in a collaborative manner such that optimum benefits can be realized from their economic activities in the Nigeria market even in the hub of global crisis.

  17. INFLUENCE OF UNCERTAINTY FACTOR ON DEVELOPMENT OF ECONOMIC CRISIS IN RUSSIA

    Directory of Open Access Journals (Sweden)

    V. A. Rudyakov

    2016-01-01

    Full Text Available Observing development of the crisis in the Russian economy, it appears that one of the reasons for the decline in the economic development is an increasing degree of uncertainty. The situation affects investment processes and multiplies itself in a growing deficiency of national income. High uncertainty blocks investments in capital-intensive and specific assets and makes economic entities transfer their resources into financial sector and, most often, outside the economy. 49 % of fixed industrial assets depreciation is an indirect proof of this situation. Depreciation of the Russian fixed assets in mining operations is 53.2 %, which includes 22.9 % of fully depreciated assets. At present, when the coefficient of renewal in this branch of ndustry is a little more than 6 and the coefficient of retirement is 0.9, the situation seems to be disastrous. There are a lot of reasons for such situation, especially in the economic sphere. One of them is that within the neoliberal ideology dominating in the economic science with its emphasis on the automatic spontaneous adaptation there is actually no place for development of recommendations for a willful increase in efficiency of adaptation to uncertainty. After all, if we consider that the market leads the entire system to the most optimum equilibrium state, a need for such development simply does not arise. The main objective of this work is to show how the uncertainty factor increases recessionary trends in the Russian economy. Applying Keynesian analysis technique and dividing all savings into investment and hoarding ones, the author proves that Russia has a very low level of adaptive efficiency which reflects long-term ability of the economy to adjust successfully to changing internal and external conditions without any detriment to the implementation of the intended targets and tasks. It is a low level of adaptive efficiency that makes the current crisis so severe. The application of different

  18. Grassroots (Economic Activism in Times of Crisis: Mapping the Redundancy of Collective Actions

    Directory of Open Access Journals (Sweden)

    Giacomo D’Alisa

    2015-07-01

    Full Text Available In the current economic crisis of industrialized society, social movements face two types of challenges: firstly, they are confronting institutions that are less capable of and have no propensity for mediating new socio-economic demands; secondly, they are experiencing difficulties in building strong and lasting bonds of solidarity and cooperation among people. The latter are fundamental resources for the emergence of collective action; however, the highly individualized structure of contemporary society makes the creation of social ties ever the more difficult. As a consequence, contemporary waves of protest are often short-lived. Nonetheless, in response to the multidimensional crises, the consolidation of grassroots mutualistic and cooperative experiences, within which new affiliations for collective action are experienced, is on the rise. Indeed, it is a fact that even though conditions are not favorable, social movements have continued to ex-pand and promote community-led initiatives for social and economic sustainability. In some cases, these initiatives play a decisive role in the fight against poverty and in guaranteeing human livelihood. Solidarity-based exchanges and networks, such as barter groups, urban gardening, new consumer-producer networks and cooperatives, time banks, local savings groups, urban squatting, and others similar experiences are typical examples of continuous reactivation of people's desire to be agents of their own destiny. This combination of formal and informal networks are a testimony to an ability and an aspiration. Indeed, on one hand, they are indicative of citizens' capacity to self-organize in order to tolerate, absorb, cope with and adjust to the environmental and social threats posed by neoliberal policies. On the other hand, they are attempting to change an economic system, increasingly perceived as unfair and ecological disruptive, by building an alternative in the cracks of the former, based on greater

  19. Contribution to a Holistic Response to the International Financial and Economic Crisis

    Science.gov (United States)

    Camara, Boubacar

    2009-01-01

    The response to the ongoing international crisis is a holistic response due to the multiple effects impacting on the various segments of societies around the world. Since 1945, the world has to perform again, a new leap in terms of development process based on the pressing need for socio-economic reconstruction. The level of globalisation and…

  20. Rationale for Students Preparation and Entrepreneurship Education in the Face of Global Economic Crisis in Nigeria

    Science.gov (United States)

    Onuma, Nwite

    2016-01-01

    The rationale for students preparation in job creation through entrepreneurship education was examined. Problems of unemployment among Nigerian university graduates and challenges to entrepreneurship in the face of global economic crisis were also highlighted. The persistent problem of unemployment among University graduates and its attendant…

  1. Economic crisis-an opportunity for domestically owned brands to expand their market share

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    <正>At a time of global economic crisis,vehicle exports in 2008 suffered a severe slowdown in growth,in particular in September when the market reported 16 percent negative growth.Of vehicles exported,90 percent are made by

  2. Wage and workforce adjustments in the economic crisis in Germany and the Netherlands

    NARCIS (Netherlands)

    K. Tijdens; M. van Klaveren; R. Bispinck; H. Dribbusch; F. Öz

    2014-01-01

    This study uses data from a continuous employee web-survey to investigate the trade-off between wage and workforce adjustments and the role of industrial relations in firm-level responses to the economic crisis in Germany and the Netherlands. Workforce adjustments seemed to be a continuous organizat

  3. "Ask and you shall be given" : Pentecostalism and the economic crisis in Cameroon

    NARCIS (Netherlands)

    Akoko, Robert Mbe

    2007-01-01

    Since the mid-eighties, Cameron has been going through a serious economic crisis. In the same years it has witnessed the proliferation and flourishing of Pentecostal groups-most of them coming in from Nigeria and with a gospel of prosperity as opposed to the gospel of asceticism of classical Penteco

  4. The Global Economic Crisis and Educational Development: Responses and Coping Strategies in Asia

    Science.gov (United States)

    Mok, Ka Ho

    2010-01-01

    This article critically examines how Asian countries have responded to the global economic crisis which started in late 2008, with particular reference to explore what major coping strategies have been adopted by these Asian governments to continue educational development. This comparative study highlights the significant role of the state in…

  5. Accelerating and Braking in Times of Economic Crisis: Organisational Learning in a Top Management Team

    Science.gov (United States)

    Wallo, Andreas; Kock, Henrik; Nilsson, Peter

    2012-01-01

    Purpose: The purpose of this article is to present the results of a study of an industrial company's top management team (TMT) that fought to survive an economic crisis. Specifically, the article seeks to focus on describing the TMT's composition, group processes, and work during a period of high external pressure; analysing the TMT's work in…

  6. Impact of the 2008 economic and financial crisis on child health: A systematic review

    NARCIS (Netherlands)

    L. Rajmil (Luis); M.-J.F. de Sanmamed (María-José Fernandez); I. Choonara (Imti); T. Faresjö (Tomas); A. Hjern (Anders); A. Kozyrskyj (Anita); P.J. Lucas (Patricia); H. Raat (Hein); L. Séguin (Louise); N. Spencer (Nick); D. Taylor-Robinson (David)

    2014-01-01

    textabstractThe aim of this study was to provide an overview of studies in which the impact of the 2008 economic crisis on child health was reported. Structured searches of PubMed, and ISI Web of Knowledge, were conducted. Quantitative and qualitative studies reporting health outcomes on children, p

  7. Financial distress and happiness of employees in times of economic crisis

    NARCIS (Netherlands)

    E. Arampatzi (Efstratia); M.J. Burger (Martijn); R. Veenhoven (Ruut)

    2014-01-01

    textabstractUsing data for 28 European countries for the period 2008 to 2012, we examine whether employed individuals are affected by the economic crisis. We provide robust evidence that unfavourable macroeconomic conditions are negatively associated with the life satisfaction of employees. In addit

  8. Dutch top managers and work-life arrangements in times of economic crisis

    NARCIS (Netherlands)

    Been, Wike Myriam; den Dulk, Laura; van der Lippe, Tanja

    2016-01-01

    This paper investigates the considerations of top managers regarding work-life arrangements. A dynamic and contextual approach is taken, using data from 26 semi-structured interviews with top managers from 13 organizations in 2008, before the economic crisis began, and again in 2011, when the ensuin

  9. Consequences of the 1873 Economic Crisis for the Argentinian State Educational Design

    Science.gov (United States)

    Duarte, Oscar Daniel

    2016-01-01

    This article aims to explain the ultimate organisation of the Argentinian educational system during the 1870s as a result of the 1873 world economic crisis, which led, among other measures, to budget cuts. These had serious consequences in both curriculum design and the general structure of the different educational levels. Such a system fostered…

  10. Impact of Economic Crisis on Changes in Motivation of Employees in Woodworking Industry

    Directory of Open Access Journals (Sweden)

    Miloš Hitka

    2014-04-01

    Full Text Available The paper deals with the motivation of employees of a woodworking enterprise and analyses the level of individual motivation before (2004 and after the economic crisis and its effects in Slovakia (2012. The aim of the paper is to identify the most important motivation factors for employees and to consider the impact of financial crisis on the change in perception of individual motivation factors and their economic and social impact on employees. A questionnaire, as a method of inquiry, was used to acquire relevant data. Descriptive and testing statistics were used for data processing. Significance level p was computed for individual motivation factors for the year 2004 and 2012 by means of T-test. The objective of this paper is to define significant change of average rate of individual motivation factors and to compare the order of importance of motivation factors before and after the economic crisis. Based on our research it can be stated that the world economic crisis has no impact on the level of employee motivation in the selected enterprise.

  11. 银行危机经济代价的影响因素研究%The Determinants of the Economic Cost of Banking Crisis

    Institute of Scientific and Technical Information of China (English)

    万兰兰

    2016-01-01

    选取77个国家发生的89次银行危机为样本,分别以危机后的经济衰退程度和通胀成本作为银行危机经济代价的度量标准,采用简单线性回归模型对银行危机经济代价的影响因素进行了分析。研究发现,危机前的经常账户表现越差、房地产价格下降幅度越大,则危机后的经济衰退程度越严重。危机前的股票价格指数上涨越快,银行危机的通胀成本则越高。危机中政府财政支出的增加可以显著的降低危机后的经济衰退程度,危机中贬值策略的实施能够显著降低银行危机的通胀成本,危机中货币供应的增长则会显著提高危机后的通胀水平。%This paper chooses 89 banking crises happened in 77 countries as samples to study the determinants of the economic cost of banking crisis, using the simple linear regression model. It uses two indicators including the degree of economic recession after the crisis and inflation cost as a measure of the economic cost of banking crisis. The results show that the worse the per-formance of the current account before the crisis is, the more serious the economic recession af-ter the crisis is,so does the decline of the real estate prices. The fast growth of the stock price in-dex before the crisis wil raise the inflation cost. The increase of government expenditure in the crisis can significantly reduce the degree of economic recession after the crisis. The implementa-tion of the devaluation strategy during the crisis can significantly reduce the inflation cost of the banking crisis, while the growth of money supply in the crisis wil significantly raise it.

  12. Macroeconomic situation in Moldova in terms of the economic crisis 2008-2009

    Directory of Open Access Journals (Sweden)

    Mihail PĂDUREAN

    2015-05-01

    Full Text Available The world economic crisis has exerted a negative impact on the economic development of Moldova, but recent trends show that since 2010 the country has been recording a small economic growth. The article examines the problems faced by the Moldavian economy during recession, as well as the subsequent changes with reference to macroeconomic indicators. The paper is a review of the materials of the Institute of Economics of the Republic of Moldova and other institutions, as well as a collection of literature and the author's own opinions. It makes use of the descriptive method and deductive and inductive reasoning.

  13. The crisis of representative democracy and the need for reconcliliation of economic growth with human development

    OpenAIRE

    Mendes, Ana Araújo Ximenes Teixeira

    2016-01-01

    This article analyzes the crisis of democracy as a reflection of the need to reconcile economic growth with human development. Initially, it addresses the relationship between the changes that transformed democratic capitalism into supercapitalism, and the weakening of representative democracy models. Subsequently, from the point of view of the Theory of Democracy, it finds that representative democracy presupposes the preservation of a minimum economic and social level for all citizens. In t...

  14. The Impact of the Economical Crisis on the Franchise Market in Romania

    OpenAIRE

    Dugan Silvia; Talmaciu Iuliana

    2012-01-01

    Franchise is definitely a superior concept of doing business and it provides the best answer to the globalization tendency, as it has the advantage of distributing risk, which leads to avoiding the danger of general economical crises with devastating effects. In our country the impact of the economical crisis on this sector has materialized in the year 2009 by a decrease of 30% of the volume of franchised businesses, after which the figures have constantly increased, reaching in 2011 the same...

  15. Suicide, unemployment and other socioeconomic factors: evidence from the economic crisis in Greece

    Directory of Open Access Journals (Sweden)

    Michael G. Madianos

    2014-03-01

    Full Text Available Background and Objectives: Economic adverse conditions are acknowledged as having a major impact on the exacerbation of mental disorders and suicides. The severity of current European crisis and the local unrelenting spending is affecting largely the economy of Greece. Methods: The aim of this study was to explore changes in suicides and their possible association with macroeconomic and behavioural factors. Data for the period 1990-2011 were drawn mainly from the Hellenic Statistical Authority and Eurostat. Suicide mortality rates were correlated with economic and behavioural factors. Results: Suicide mortality rates were increased by 55.8% between 2007 and 2011 while the total mortality was increased by 1.1% only. Significantly increasing trends in public debt, unemployment rates, consumption of daily units of antidepressants as well as divorces per 1000, homicides per 100,000 and persons with HIV per 100,000 were also observed. Suicides have been found to bear strong correlation with unemployment (r. 0.64. Significant associations were also found between suicide mortality and the percentage of public debt as percentage of GDP, the incidence of infections from HIV and homicides. Conclusions: People suffering from income and job losses, living in a demoralized social state caused by severe austerity measures and restrictive health policies, are exposed to risks for developing depression or commit suicide.

  16. THE PRESENT GLOBAL ECONOMIC AND FINANCIAL CRISIS A MASK FOR A MORE PROFOUND EXISTENTIAL, MORAL ONE?

    Directory of Open Access Journals (Sweden)

    Cheptea Madalina

    2012-03-01

    Full Text Available Issues related to financial, economical crises are a constant preoccupation for specialists ineconomics and in other areas of expertise but also for common people that have to face crises in the same waycompanies and enterprises do. Each crisis is unique in its own way and the effects crises have on economy, politics,environment, and people in general are sometimes ravishing. There is no recipe to predict crises or the way theywill manifest and there are no two crises alike, but the latest researches in the area relate crises with the value scalehuman-beings have, scale that has completely deteriorated during the last century. Human-beings and their needshave to become the centre of research and interest and economy must function for people and in their good interest.The current economic and financial crises is in fact a moral crises caused by dehumanization and loss of interest inothers, by focusing on our own goals no matter what sacrifices are made around us to achieve them, or the coststhat others have to pay for the welfare of those interested.

  17. THE ANALYSIS OF COMPETITIVENESS IN THE TOURISM SECTOR IN THE ACTUAL CONTEXT OF ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Vasile ROBU

    2009-06-01

    Full Text Available The past few years have witnessed many storms in the Tourism sector. Under the influence of an extremely volatile world economy (financial crisis, commodity and oil price rises, sharp exchange rate fluctuations, increase terrorism acts in several region with tourism potential Tourism demand slowed significantly. Yet, despite the current difficulties, the Tourism sector remains a critical economic sector worldwide and one that provides significant potential for economic growth and development internationally. A growing national Tourism sector contributes to raises national income, employment, and can improve a country's balance of payments. The sector is thus an important driver of growth and prosperity and,  within developing countries, it can play a leading role in poverty reduction. Despite the overall importance of developing the Tourism sector, many obstacles at the national level continue to hinder its development. This analysis aims to serve two purposes. First, we intend to provide useful comparative information for making decisions related to business and tourism development. Second, and more importantly, we hope that the analysis provides an opportunity for the Tourism industry to highlight the obstacles to Tourism competitiveness.

  18. Three hundred years of crisis in economic dictionaries and encyclopaedias

    DEFF Research Database (Denmark)

    Tarp, Sven

    2012-01-01

    This article discusses the book Crises and Cycles in Economic Dictionaries and Encyclopaedias from a lexicographical point of view. Although the book is mainly written to people interested in the history of economics and the evolution of the two concepts mentioned in the title, its fresh approach...... places it directly, although incidentally, in the on-going discussion on the academic character of lexicography. After briefly presenting the main content of the book, the article discusses the relation between economics and lexicography from various angles. Finally, it points to some elements where...... the book may contribute to the enrichment of lexicographical theory....

  19. Fundamental Causes of Financial and Economic Crisis and Its Overcoming The Logical Core of Market Economy: How We Subvert It

    Directory of Open Access Journals (Sweden)

    Vladimír VRECION

    2011-03-01

    Full Text Available The article deals with the fundamental methodological and theoretical ideas of market economy. The logical core of the market economy (ME and its functioning is briefly described. From these logical bases of ME basic principles of its right functioning are deduced and from there is deduced how the contemporary practice of ME and market society disturbs, subverts these principles. The consequence of such disturbing of the logical core of the ME could be its partial and even total collapse. The current financial and economical crisis is a warning example. It is necessary to implement and to restore in practice fundamental principles of market economy in order to resort present crisis and to avoid future great - even fatal risks. And this will be mainly the role of the states and international institutions.

  20. Women's roundtable discussion on the economic, social and political impacts of the Southeast Asian financial crisis.

    Science.gov (United States)

    Kelkar, G

    1998-01-01

    This article summarizes the main issues revealed at a women's roundtable discussion on the Economic, Social, and Political Impacts of the Southeast Asian Financial Crisis. The discussion was organized by the Development Alternatives of Women for the New Era (DAWN) and was held during April 12-14, 1998, in Manila, the Philippines. The aim was to explore the effects of the financial crisis and its management by states and multilateral agencies on women's political, economic, cultural, and social status; and to reach regional understanding of new issues for the women's movement in Asia and to identify areas of advocacy. Participants included women scholars and activists from Southeast, East, and South Asia; Africa; the Caribbean; Latin America; and the Pacific. Participants came from a wide variety of backgrounds. Nine issues were emphasized. For example, some predicted the currency devaluation before July 1997. The financial crisis is linked with globalization. The International Monetary Fund (IMF) is the primary institution for addressing the financial crisis. IMF conditions on inflation rates and budget surpluses are recessionary and government budget oriented. The crisis has exposed cronyism and corruption within capitalism. Patriarchal values have reemerged as Asian values. Women have lost jobs and income, while the cost of living continues to increase. Prostitution has become more acceptable as legitimate work. Women's human rights are not legally protected. State ideology assumes domestic and sex roles. Issues in each region are identified. 14 key issues pertain to all regions.

  1. Restructuring of manufacture under global financial and economic crisis: The case of Estonia

    Directory of Open Access Journals (Sweden)

    Kilvits Kaarel

    2014-01-01

    Full Text Available It was not possible for Estonia only by raising the technological level of enterprises and increasing so-called technical productivity to catch up in terms of productivity with the developed industrial countries. The structure of Estonian manufacture was out-of-date and required cardinal and fast changes toward greater value added. Every time a crisis hits, it brings about new breakthroughs in science and technology; promotes fundamental changes that take place in a relatively short period of time; gives birth to new industries; forms new growth points in the economy. The crisis has had a far-reaching impact on the world economy and has brought challenges and opportunities to all countries and all fields. In addition to big difficulties, the crisis provided for Estonian manufacture also an exceptionally good chance for change and development. The crisis had a purifying and disciplining effect, enabled to eliminate from the manufacture wrong investments and inefficient enterprises. Assets were redistributed from passive economic agents to active ones and in favour of those who had capital for growth financing. After the crisis the structure of Estonian manufacturing is more effective than before: 1 technological level higher; 2 organization of work more perfect; 3 value added and productivity higher; 4 position of value chain better; 5 maybe also the value chain itself new and better. But there are fewer jobs in the new structure of manufacturing than before the crisis. Economic, social, regional etc. stratification has increased. The influence of crisis is not over yet and there is still a risk of some setback in future. There may also arise new problems and old problems may grow sharper.

  2. Neighborhood Decline and the Economic Crisis (discussion paper)

    NARCIS (Netherlands)

    Zwiers, M.D.; Bolt, G.; Van Ham, M.; Van Kempen, R.

    2014-01-01

    Neighborhood decline is a complex and multidimensional process. National and regional variation in economic and political structures (including variety in national welfare state arrangements), combined with differences in neighborhood history, development and population composition, makes it

  3. The 2008 Economic Crisis: Implications and Responses in the ...

    African Journals Online (AJOL)

    These include but are not limited to prolonged economic boom for two ... European investment banks, insurance firms and mortgage banks ..... At the firm level, responses have included various cost-reducing measures like reducing and.

  4. Emerging Economic Entity Crises in Post Financial Crisis Era – The impact and countermeasures against the escape of America from quantitative easing policy

    Directory of Open Access Journals (Sweden)

    Yu Hua

    2015-01-01

    Full Text Available Five years from the eruption of financial crisis in 2008, the global economy is also on its way to the restoration, among which the emerging economic entities, typically China, India, Brazil, South Africa, Indonesia, etc., have rapidly run away from the crisis and led the recovery of global economy, which may be considered as the engine of global economy growth in the post financial crisis. While, with the America declaring that it would gradually reduce the quantitative easing (QE scale and escaped from the quantitative easing policy in the mid 2014, the fluctuation of global financial market was rapidly intensified, and the risk assets were largely sold off, with the emerging economic entities suffering serious impact. Furthermore, the anxiety about the “third round of financial crisis will burst out due to the emerging economic entities” is increasingly intensified. This article will first analyze the current economic situation of main global economic entities, discuss about the impact of America’s escape from QE on the emerging economic entity and its mechanism, and finally propose the countermeasures for China.

  5. Translating the Spanish Economic Discourse of the Crisis: Dealing with the Inevitability of English Loanwords

    Directory of Open Access Journals (Sweden)

    María Ángeles Orts Llopis

    2009-12-01

    Full Text Available Our current study aims at analysing and describing the plethora of English loans in the Spanish discourse of economy -in the shape of direct or indirect borrowings- as a result of the swift changes taking place in the course of the present Global Systemic Crisis. The need for precision and accurateness in the deployment of technical terms, or terms of art, in the Spanish discourse of Economics has triggered our scrutiny of an ad hoc corpus of economic news-items from a range of digital periodicals in the field of finance and economics. With the aid of three financial bilingual glossaries intended for the specialized Spanish-speaking community, and the deployment of a specific taxonomy on linguistic incorporations, we have developed a system of lexical selection, reuniting, analyzing and explaining a representative group of real data illustrating, somehow, the neologistic borrowing process during the above-mentioned financial havoc. Further, our study attempts to enlighten and facilitate the translator’s task when dealing with the economic language in Spanish and the English loans incorporated just before, during, and after the critical period under scrutiny.El estudio que aquí presentamos se dirige hacia el análisis y la descripción de la plétora de préstamos del inglés que, de forma directa o indirecta, se infiltran en el discurso económico en español, como resultado de los veloces cambios financieros que han surgido de la Crisis Global Sistémica. La necesidad de precisión y exactitud en el empleo y aplicación de términos especializados de corte financiero en el discurso de la economía española ha constituido nuestra fuente de inspiración para acometer el estudio de un corpus económico ad hoc, seleccionado de una gama de periódicos digitales de corte especializado, semiespecializado y divulgativo. Los términos analizados para su búsqueda y escrutinio han sido seleccionados con la ayuda de glosarios bilingües dirigidos a la

  6. Economics of oil crisis: the cause of the world oil crisis of 1973-74

    Energy Technology Data Exchange (ETDEWEB)

    Bina, C.

    1983-01-01

    It is demonstrated that the oil crisis of 1973 to 1974 was the outcome of the increase in the value magnitude of the least-productive oil region. This implies that the production and formation of value and prices have become integrated at the level of the international oil industry. It is also argued that the increasing socialization of production on the one hand, and the reciprocal relations of capitals, through intra-industry competition, on the other hand, have led to the formation of differential rates of profit at the global level. The material basis of these differential profit rates is the existence of differential productivity in the oil industry. In addition, due to the predominance of oil property relation, the resultant differential profitability tends to be transformed into differential oil rent on a permanent basis. As a result, it is due to competition, rather than monopoly, that the least- and most-productive oil regions can stand in reciprocal relation and lead to the formation of differential oil rent. Thus, it is the regulating capital in the least-productive oil region that tends to determine the market value of oil internationally. It is established that the United States and the Middle East are the least- and most-productive oil regions of the world, respectively. In addition, it is demonstrated that there has been a significant decline in the productivity of the value-determining United States oil fields since the beginning of the 1970s. At the same time, econometric tests reveal that the oil price increase and the cost increase and the cost increase were associated with each other during the crisis.

  7. The true cost of the economic crisis on psychological well-being: a review

    Directory of Open Access Journals (Sweden)

    Van Hal G

    2015-01-01

    Full Text Available Guido Van Hal Medical Sociology and Health Policy, University of Antwerp, Antwerp, Belgium Abstract: The recent economic crisis has led to many negative consequences, not the least having to do with the mental health and well-being of the populations involved. Although some researchers say it is still too early to speak about a relationship between the economic crisis and a rise in mental health problems resulting in suicides, there is solid evidence for the existence of such a relationship. However, several moderating or mediating mechanisms can also play a role. The main reactions of most policy makers to the economic crisis are (severe austerity measures. These measures seem to have, however, a detrimental effect on the mental health of the population: Just when people have the highest need for mental help, cost-cutting measures in the health care sector lead to a (substantial drop in the supply of services for the prevention, early detection, and cure of mental health problems. Policy makers should support moderating mechanisms such as financial and psychological coping and acculturation and the role of primary health care workers in the early detection of suicidal thoughts, suicide attempts, and suicide in times of economic recession. Several examples show that the countries best off regarding the mental health of their populations during the economic crisis are those countries with the strongest social safety net. Therefore, instead of cutting back on health care and social welfare measures, policy makers should in the future invest even more in social protection measures during economic crises. Keywords: economic recession, mental health, suicide, social protection, austerity, review

  8. Economic Crisis: Most Vulnerable Immigrants. Case Studies in Berrien Country, Michigan

    Directory of Open Access Journals (Sweden)

    Martha Avendaño

    2015-01-01

    Full Text Available This article analyzes the effects of the economic crisis on the quality of life of Mexican immigrants in Berrien County, Michigan; due to the factors that influence transportation, mobilization (legal status, less opportunities of labor type and limitations of social nature (Medicaid, university and perception about quality of life. By applying a methodology of case studies, into the way each face the disadvantages about their legal status and their work, reconstructing the primary conditions of their lives, type of job, residency status in the country, reasons that impelled the immigration and changes before and after the crisis.

  9. The Price Volatility of Precious Metals in Times of Economic and Geopolitical Crisis

    Directory of Open Access Journals (Sweden)

    Viorel Mionel

    2017-09-01

    Full Text Available People perceive gold, silver and platinum as jewellery and massive ingots, but their rarity and physicochemical properties recommend them as being suitable for a wide range of uses. The value of gold has led many states to diversify their economic portfolio by creating sovereign reserves. By buying massive amounts of gold, countries like China, Russia, India, Brazil and Turkey suggest that the purchase of precious metals is the best investment during the crisis. Research results show that the value of precious metals greatly increases at times of crisis because buying precious metals indemnifies states against international currency devaluation.

  10. The influence of economic crisis on directions of estructuring of marketing in research institutes

    Directory of Open Access Journals (Sweden)

    Marlena Elżbieta Maślanka

    2013-03-01

    Full Text Available On the eve of the third millennium the Polish economy is more and more subject to worldwide trends of globalization, which in a special way influences the scope and intensiveness of changes implemented in Research Institutes. It is accompanied by another more and more intensively transferred internationally and generally observed economic crisis, whose negative impulses cause the economic growth to slow down. The key determinant of the development of Research Institutes in the modern global economy is a skill to react on changes and a necessity to take restructuring actions within this range of marketing. Problems of a progressive global economic crisis and the influence of this process on restructuring of marketing in Research Institutes is an important research problem, requiring a deep and thorough analysis and research in this scope, hence this paper deals with all these important issues.

  11. A call of duty in hard times: Duty to vote and the Spanish Economic Crisis

    Directory of Open Access Journals (Sweden)

    Carol Galais

    2014-06-01

    Full Text Available Although scarce, the literature addressing the effects of the economy on voter turnout and political attitudes has yielded mixed results. By using individual, longitudinal data from Spain—a country devastated by the Great Recession—our study illuminates how the latest economic crisis has impacted citizens’ perceptions of voting. We analyze how economic conditions and perceptions of the economy have transformed the belief that voting is a civic duty, which is one of the strongest attitudinal predictors of turnout. Our results suggest that hard times slightly weaken citizens’ sense of civic duty, particularly among the youngest. However, the adverse effects of the economic crisis are compensated by the positive effects of the electoral context, and as a consequence there is no aggregate decline in civic duty during the period examined (2010–2012.

  12. EVALUATION OF ECONOMIC DEVELOPMENT OF INDIA DURING THE PERIOD OF THE GLOBAL CRISIS

    Directory of Open Access Journals (Sweden)

    Natalia V. Kuznetsova

    2015-06-01

    Full Text Available This paper explores the economic development of India during the period of global crisis (1998-2009. In this research we investigate the main factors of economy which provide the ability for Indian economy to survive during the period of global crisis. It was analysed a complex of indicators: a great number of economic indicators of Indian development (GDP growth, turnover of foreign trade, unemployment rate, level of savings, Gini index, import and export indicators, etc. and the social sphere of Indian economy, such as level of poverty, income per capita, Human Development Index, etc. All these indicators provide the vividly expressed picture of historical review of the economic development of India, which help to find the weaknesses and strength of Indian economy during the period of world crisis. It was also calculated the model of economic growth of India and investigated the impact of each component of this model. This analysis provides the clear evidence of unique features of Indian economy, which are positive and negative simultaneously for economic development. The presented paper gives us the chance to overview in historical retrospective the government reforms and its consequences for the economy of India during the decade period of world instability.

  13. The global economic crisis: a complex concept with multiple terms (La crisis económica mundial: un concepto complejo con múltiples denominaciones

    Directory of Open Access Journals (Sweden)

    Iolanda Galanes

    2016-06-01

    Full Text Available This article presents the results of an interuniversity cooperation research project undertaken between Spain (DGPU and Brazil (CAPES, whose objective was to create the Dictionary of the Global Economic Crisis. This project compiles and analyses all terms of the principal economic concepts published in the press ever since the start of the crisis in 2007. Starting from the economic crisis concept, an explanation of the fundaments underlying the conceptual analysis adopted in the dictionary is provided and these are contrasted with the terms located in the ad hoc media corpus created (36 million tokens. Using this example, we reflect on the utility of the conceptual study prior to carrying out the terminological work, on criteria (and strategies for identification of terms and on the classification instability in neology. We have furthermore detected the principal neological procedures used for denominating the US financial crisis, the subsequent international economic crisis and the posterior European debt crisis. The project is innovative because the terminological analysis was carried out in vivo in Brazil and in Spain, in chronological order, and by dealing with each term conceptually, formally and semantically.

  14. The relation between economic growth and foreign direct investment during the economic crisis in the European Union

    Directory of Open Access Journals (Sweden)

    Mihaela Simionescu

    2016-06-01

    Full Text Available The goal of this research is to investigate the relationship between economic growth and foreign direct investment inflows in the European Union (EU-28 in the period of the recent economic crisis. Panel data approach and Bayesian techniques are employed to solve the problem of a short set of data (2008–2014. The panel data approaches (panel vector-autoregressive model and Bayesian random effect models identified a reciprocal and positive relationship between FDI and economic growth in EU-28 starting with 2008. The individual approach based on Bayesian linear regressions identified this tendency as being specific for most of the EU-28 countries. However, there are some countries for which higher FDI did not generate economic growth and some countries where higher GDP did not attract more FDI and FDI did not bring economic growth. According to cluster analysis, the disparities among countries regarding the FDI distribution according to GDP growth and GDP rate distribution according to FDI diminished in 2014 compared to 2008. The basic conclusion is that on overall in the European Union there was a reciprocal relationship between economic growth and FDI since the beginning of the crisis with a tendency of reducing disparities between countries in attracting FDI.

  15. Collective bargaining responses to the economic crisis in Europe

    NARCIS (Netherlands)

    V. Glassner; M. Keune

    2010-01-01

    Collective bargaining has proven to be an effective instrument to maintain employment and to allow companies to find flexible solutions to deal with the steep economic downturn. In particular, social partners played an important role in implementing statutory short-time working provisions aimed at m

  16. Keys for successful growth strategies for entrepreneurs after economic crisis

    OpenAIRE

    Georgeta Ilie

    2011-01-01

    Entrepreneurs are important drivers of economic and social progress and change. The paper represents a systematic look inside the growth mechanism of early-stage companies from the perspective of eight different growth strategies for new business enterprises, underlining the opportunities and risks, growth accelerators, and growth challenges.

  17. Responsibility and Capitalism. A Phenomenological Way to Approach the Economic Crisis

    Directory of Open Access Journals (Sweden)

    Floriana Ferro

    2013-03-01

    Full Text Available The Western world is presently afflicted by a huge economic crisis, started in 2007 in the United States, with the collapse of the subprime mortgage market, and exploded in 2008 with the breakdown of Lehman Brothers[1]. Even if its most critical stage seems to be finished, capitalist countries find it difficult to recover. Globalization exported the effects of the crisis everywhere, but those that suffered the greatest damages are Europe and North America. The collapse of some financial companies is only the top of a huge iceberg. The crisis has roots in something deeper, in the principles and mechanisms of capitalism itself. The Western part of the world is still paying not for the mistakes of a few executives, but for a general lack of ethics in the whole system.

  18. Reasons of 2008 Global Economic Crisis, Measures Taken and Recommendations for Turkey

    Directory of Open Access Journals (Sweden)

    Mustafa METE

    2014-06-01

    Full Text Available Starting in the USA housing sector in June 2007 and acquiring global dimension in September 2008, many macroeconomic factors played influential roles in the formation of the recent global economic crisis. Spreading from the USA to other developed economies at first and to developing economies afterward , the crisis gradually acquired a real dimension. Though as a consequence of the measures taken, there have been some signs of recovery in the global economy since the second half of 2009; it is thought that there are still some significant risks in the process of permanent recovery process. This study an examination of the policies applied and the result achieved has been done in the context of the globe in general and Turkey in specific. The scrutiny led to some policy recommendations for facing similar crisis in the future.

  19. ARE YOU PANICKED? ECONOMIC AND HEALTH CONSEQUENCES OF THE ECONOMIC CRISIS: A PSYCHOLOGICAL APPROACH IN ROMANIAN CONTEXT

    Directory of Open Access Journals (Sweden)

    Mihaela DIACONU

    2013-09-01

    Full Text Available During the last few years the entire world experienced one of the most turmoil period in its history. Economic crisis is the most traumatic event leading to a substantial deterioration in the quality of life of the household. Unemployment, inflation rate increasing, freezing or decreasing of the wages, the purchasing power decreasing, the decreasing of the investments value represent only of some economic shocks that hit most of the individuals, in the last few years. The individual well-being is determinate by many things like the level and secure income, labor market status, job stability and characteristics, health status, social relationships, family etc. In some ways and to a different extent all these were affected by the economic crisis, for many people, around the world. Empirical evidence presented in different international studies emphasized a causal relation between all these aspects. The purpose of the present study was to identify the economic and health consequences of the economic crisis adopting a psychological perspective. The results of the study emphasize that there is a causal relationship between psychological factors and almost all the dimensions of economic behavior and health status measured. Also, the empirical findings uphold that those who are more risk averse and have the highest perception over the risk exposure are taping the highest values regarding the main stressors measured and present more intense symptoms of stress exposure. The limits of the study come from the fact that health consequences were measured in certain period of time (the last six months, thus, this study do not offer a long term evaluation.

  20. Economic crisis, institutional confidence and political leadership in Spain / Crisis económica, confianza institucional y liderazgos políticos en España

    Directory of Open Access Journals (Sweden)

    José Francisco Jiménez Díaz

    2013-10-01

    Full Text Available This paper analyzes the effects of the economic crisis in main political Spanish leaders in an exploratory way. For understanding the politics of the recent years is necessary to know the consequences of this crisis on leaders and political institutions that they manage. In representative democracies, political leaders have to maintain confidence with their followers to justify the political actions of the formers. Therefore, and according to theoretical interpretations and data presented in this paper, institutional confidence becomes a key factor to understand the effects of the economic crisis on the political leadership. Thus, the decline of institutional confidence is related with the increasing delegitimization of main political leaders and with the profound crisis of political legitimacy.

  1. Weathering The Storm – Icelandic Municipalities’ Handling of an Unprecedented Economic Crisis

    Directory of Open Access Journals (Sweden)

    Magnús Árni Skjöld MAGNÚSSON

    2016-04-01

    Full Text Available Within a few days in October 2008, following serious turmoil on financial markets worldwide, some 85% of the Icelandic banking sector collapsed, together with the Icelandic currency, the króna. Almost all the rest followed early in 2009. The Icelandic stock market took a nosedive. The Republic of Iceland had entered the worst economic crisis of its history. Icelandic municipalities, which had taken on an increasing burden of running the welfare state, were hard hit financially, without the ability of the state to help out. In fact, some of the post-crisis actions of the state, under IMF direction, were difficult for the municipalities. It did not make things easier that the crisis had been precluded by an unprecedented period of growth, encouraging the municipalities to borrow in international markets and invest in infrastructure that turned out to be superfluous in the post-crisis period. This paper will look at the reactions of the Icelandic municipalities to the crisis, the political implications of it, where they are now and if there are lessons that can be learned from the difficult years in the last decade.

  2. Economic crisis impact on Remittances and Migration level in Albania

    OpenAIRE

    Adela Shera; Ardita Shehaj

    2014-01-01

    Remittances of international migrants as the second largest flow of incomes contribute to the well-being of their households of origin and also have an impact at macro-economic level. Out-migration is an effective means for low-income households to quickly overcome shortages of income. The sustenance of poor households might have been more difficult without such remittances. From a macro perspective, remittances contribute to the equalization of the income distribution among households having...

  3. Russia's emerging multinational companies amidst the global economic crisis

    OpenAIRE

    Filippov, S.

    2011-01-01

    Internationalisation of Russian companies has become a distinctive phenomenon and has drawn attention of scholars, practitioners and policy-makers alike. Newly emerged Russian companies have extended their presence from the nearest former Soviet republics to the advanced markets of Western Europe and Northern America. As most companies in the world, in 2008-2010, Russian multinationals faced the global economic meltdown. Despite the broad interest in this topic, its scholarly examination rema...

  4. A Didactic Reconstruction of the Financial and Economic Crisis

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    Michael Schuhen

    2010-08-01

    Full Text Available Theoretical approaches to constructivism have put learner autonomy into the spotlight of didactic discourse. Apart from the matter of pedagogic actions on how (constructivisticly organised education might be arranged, this paper focuses on the perspective of didactic reconstruction. Thus, an observation-based research perspective is being adopted in this paper. The epistemic beliefs that have emerged over the course of the global financial and economic depression are reconstructed. The goal of the paper is to provide an insight into these different interpretations. In order to do this, university students were surveyed regarding this topic and the results of this qualitative study on these epistemic beliefs will be represented in this article. The paper tries to give answers on how students, who have been experiencing the financial and economic depression for nearly three years now, define its causes and what subsequent actions they would recommend. The results show that the main issue is not misinterpretation of political and economic knowledge but rather incomplete constructs based on only approximate knowledge.

  5. Crisis

    OpenAIRE

    Hertie School of Governance

    2010-01-01

    Crisis as an omnipresent part of our daily lives has become engrained in our mindsets. We should, however, not resort to apathy, but instead attempt to differentiate between those issues sold to us as crises. The new Schlossplatz³ issue shows how crises are managed in various examples and how they can serve as instances of learning.

  6. Business Activities of South Ukraine During the Economic Crisis of 1900–1903 Years

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    O. Babicheva

    2016-02-01

    Full Text Available The present article shows the activities of entrepreneurs in Southern Ukraine during the global economic crisis of 1900–1903 years. They greatly affected the socio-economic life of the country. After the economic crisis of heavy industry spread throughout the region and contributed to the emergence of a number of negative factors such as lack of resources, decline and stagnation in metallurgy, machine in order to get help, especially economic. It is proved that the government of the Russian Empire played the role of defender, protector of interests of the most influential entrepreneurs steel. They assisted individual industrialists, which was to provide government contracts, cash flows in the steel industry, provide favorable loans and subsidies for obtaining favorable terms. But such a condescending attitude the Russian Empire carried out solely to establish control in the steel industry, regulate the activities of entrepreneurs. Undoubtedly, during the crisis significantly decreased profit breeders, so the latter tried most of the losses on to the workers. At steel mills reduced production volumes, which led to the closure of factories, increasing the intensity of labor, lower wages, worse off workers, mass unemployment.

  7. CONSIDERATIONS ON THE EVOLUTION OF ROMANIAN FOREIGN TRADE UNDER THE IMPACT OF ECONOMIC CRISIS

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    DOBROTĂ GABRIELA

    2011-12-01

    Full Text Available The foreign trade represent the engine of renewal of productive structures of developed countries and the essential vector for the development of newly industrialized nations as countries that can not be considered as belonging to the developing countries, mainly due to exports development. Nobody doubts the need for foreign trade and its possible beneficial effects for the economy of a country, which is supported by John Stuart Mill classical economist, who said that "openness to foreign trade ... is sometimes the effect of an industrial revolution as a country whose resources are poor" This paper analyses, on the one side, the importance of foreign trade and his evolution in 2001– 2010 period, and, on the other side, the consequences of the economic crisis on it. The period under review includes the last years of economic growth in Romania and the first years of actual economic crisis., because the global economic crisis is reflected strongly in the evolution of Romania's foreign trade, which in February 2009, has seen a veritable collapse over the same period of the previous year.

  8. Grabbling with the Kirznerian Heritage in a Time of Economic and Environmental Crisis

    DEFF Research Database (Denmark)

    Korsgaard, Steffen

    2016-01-01

    This chapter tries to grapple with the Kirznerian heritage of the entrepreneurship research field in light of the current financial crisis. This is done through the identification and discussion of three anomalies in the Kirznerian heritage as “normal science”; the socialized nature of entreprene......This chapter tries to grapple with the Kirznerian heritage of the entrepreneurship research field in light of the current financial crisis. This is done through the identification and discussion of three anomalies in the Kirznerian heritage as “normal science”; the socialized nature...

  9. WILL THE EU`S BOAT FLOAT IN MURKY POST-CRISIS WATERS? AN ASSESSMENT OF EU`S ECONOMIC AND FINANCIAL AGENDA

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    Adrian Daniel STAN

    2015-11-01

    Full Text Available The EU multilevel governance is a theoretical standpoint that allows us to measure the costs of nowadays European integration. This article addresses current issues of the EU institutional Agenda regarding the logic beyond the changing nature of the economic climate. Our contribution aims to analyze the impact of economic and financial reforms upon the institutional framework of the European Union. In this article we will explore how the post crisis economic agenda is being forged and which are the consequences of following different integration paths. It is also important to determine if a working scenario build around the Community method will address pressing issues in a successful manner or will the intergovernmental standpoint prevail? Is this crisis close to a positive response, is the EU economic governance an endangered construction, or can it be the rise of a great opportunity for the European integration process, a new boost each member state seeks and might nurture?

  10. GLOBALIZATION AND MASS-MEDIA IN THE CONTEXT OF ECONOMIC CRISIS

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    Burtic Daniel

    2012-07-01

    Full Text Available Globalization is a reality that we cannot deny or run away from. The economic, political or social issues, even if they have a starting point, spread very quickly, covering large areas in a very short time. Modern communication systems enable crisis transfer. They also bring us information about the actions that have been taken in order to overcome those critical circumstances. Does recession have positive aspects, too? If it has, what are these positive aspects and how can they be used to produce highest benefits? We will try to describe the concepts we maintain by means of some notorious works written by authors with a vast experience, some of them being Noble Prize winners. The idea that we propose is to bring hope out of this situation generated by crisis and globalization. The economic crisis has created a huge opportunity to the mass-media system: it brings the required information to citizens from different nations. Taking this into account, mass-media has played and still plays an important part in making the people involved find solutions and communicate whenever the decision makers are trying to hide facts. With the help of innovation and transformation, let’s look for solutions to develop our abilities, relationships, products, markets and results. We should never forget that the greatest and most impressive changes are often born in times of crisis.

  11. The present global financial and economic crisis poses an additional risk factor for mental health problems on the employees.

    Science.gov (United States)

    Avčin, Bojana Avguštin; Kučina, Andrea Užmah; Sarotar, Brigita Novak; Radovanović, Mirjana; Plesničar, Blanka Kores

    2011-09-01

    The global financial and economic crisis starting in 2007 led to a deterioration of several socio-economic determinants of mental health. The aim of this cross-sectional study was to examine the impact of the present economic crisis on the depression and anxiety levels of the employed in the private and public sector in Slovenia. Altogether 1592 employees completed an internet based self-reported questionnaire. Data about perceived impact of the economic crisis, several socio-demographic, socioeconomic, and health parameters were collected. Depression symptoms were assessed by the Center for Epidemiological Studies-Depression Scale and anxiety symptoms by the Spielberger State-Inventory. Regression models were used 1) to explore the associations of the economic crisis with the level of depression and anxiety symptoms while controlling for some sociodemographic and work characteristic variables, and 2) to understand the relationship between some potentially important socioeconomic variables and the perception of the economic crisis. Depressive and anxiety scores were significantly increased among 590 (46.6%) employees being affected by the economic crisis. The level of depressive symptoms was significantly associated with perceived impact by the crisis, recent sick leave, reported injuries sustained at work, benzodiazepine and analgesic use, the lack of emotional support, and trust in crisis telephone lines. The level of anxiety symptoms yielded the robust association with the level of depression symptoms, reported injuries sustained on the way to work and education. The economic crisis poses an additional risk factor for mental health problems which clinicians should internalize and become more aware of them. Symptoms of depression and anxiety can be masked in high-utilizers of medical care with physical complaints or psychoactive drug use.

  12. Attitudes of Companies to Sport Sponsorship in the Czech Republic during the Economic Crisis

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    Eva Čáslavová

    2015-03-01

    Full Text Available Attitudes of Companies to Sport Sponsorship in the Czech Republic during the Economic Crisis This research presents the approach of companies to sport sponsorship in the period of time of the economic crisis in the European territory, specifically in the Czech Republic. The research included 100 companies based in the Czech Republic and the method chosen was electronic mail survey of managers responsible for this marketing activity. The results show trends in sport sponsorship from the viewpoint of companies and can serve as a base for strategic decisions about new ways of sport financing in 2012–2020 with which the relevant authorities of the public administration of the Czech Republic are currently dealing at this time. Postoje firem ke sponzorování sportu v České republice v období ekonomické krize Tento výzkum prezentuje přístup firem ke sponzorování sportu v období ekonomické krize v evropském teritoriu, konkrétně v České republice. Výzkum zahrnoval 100 firem působících v České republice. Byla uplatněna metoda elektronického dotazování manažerů odpovědných za tuto marketingovou činnost. Výsledky výzkumu ukazují trendy ve sponzorování sportu ze strany firem a mohou sloužit jako podklad pro strategické rozhodování o nových cestách financování sportu na léta 2012–2020, které v tomto období řeší příslušné orgány státní správy České republiky.

  13. A tale of loss of privilege, resilience and change: the impact of the economic crisis on physicians and medical services in Portugal.

    Science.gov (United States)

    Russo, Giuliano; Rego, Inês; Perelman, Julian; Barros, Pedro Pita

    2016-09-01

    That the current economic crisis is having an impact on population health and healthcare utilisation across Europe is fairly established; how national health systems and markets are reacting is however still poorly understood. Drawing from the economic literature we conducted 21 interviews with physicians, policy-makers and healthcare managers in Portugal, to explore their perceptions on the impact of the crisis on the country's market medical services, on physicians' motivation, and the ensuing coping strategies. Interviews were recorded, transcribed and analysed using NVivo software. We show that despite the crisis, few physicians reported considering leaving the public sector and the country, and very diverse coping strategies are emerging, depending on the respective employment institutions and seniority. In spite of the changes in patient case-mix, demand for medical services may not have necessarily increased, having shifted from public to private, with many highlighting the contribution of the current crisis in consolidating the private sector. In order to maintain their pre-crisis living standards amidst deteriorating salaries and increasing controls, hospital physicians have resorted to strategies such as shifting hours to the private, and primary care ones to anticipating their retirement. Migration was reported to be an option only for the younger and older doctors. Our study suggests the existence of resilience among Portuguese physicians and in the country's market for medical services, which, if corroborated by further research, will need to be taken into account by national health policies.

  14. The credibility crisis in research: Can economics tools help?

    Science.gov (United States)

    Gall, Thomas; Ioannidis, John P A; Maniadis, Zacharias

    2017-04-01

    The issue of nonreplicable evidence has attracted considerable attention across biomedical and other sciences. This concern is accompanied by an increasing interest in reforming research incentives and practices. How to optimally perform these reforms is a scientific problem in itself, and economics has several scientific methods that can help evaluate research reforms. Here, we review these methods and show their potential. Prominent among them are mathematical modeling and laboratory experiments that constitute affordable ways to approximate the effects of policies with wide-ranging implications.

  15. Germany's socio-economic model and the Euro crisis

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    Michael Dauderstädt

    2013-03-01

    Full Text Available Germany's socio-economic model, the "social market economy", was established in West Germany after World War II and extended to the unified Germany in 1990. During a prolonged recession after the adoption of the Euro in 1998, major reforms (Agenda 2010 were introduced which many consider as the key of Germany's recent success. The reforms had mixed results: employment increased but has consisted to a large extent of precarious low-wage jobs. Growth depended on export surpluses based on an internal real devaluation (low unit labour costs which make Germany vulnerable to global recessions as in 2009. Overall inequality increased substantially.

  16. A reasonable model or a liberal failure? The economic model in Latin America from the 1990s to the great crisis

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    Diego Sánchez Ancochea

    2009-05-01

    Full Text Available This paper critically evaluates the results in terms of economic growth and structural transformation of the new economic model implemented by most Latin American countries since the early 1990s. The new model, which had macroeconomic stability and export orientation as its core components, has been unable to develop more dynamic comparative advantages in the current global era and, as a result, has resulted in lower rates of economic growth than in Asia. The paper closes with an analysis of the impact of the current financial crisis in the region. It highlights the short-term costs, but also acknowledges the opportunities that the crisis is creating to promote a greater number of new progressive development alternatives that place more emphasis on the role of learning and innovation.

  17. The role of business in addressing the long-term implications of the current food crisis

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    Yach Derek

    2008-12-01

    Full Text Available Abstract Before the onset of the current food crisis, the evidence of a severely neglected nutrition crisis was starting to receive attention. Increased food prices are having severe impacts on the nutritional status of populations. Our current food system has evolved over decades in a largely unplanned manner and without consideration for the complexity and implications of linkages between health, nutrition, agricultural, economic, trade and security issues. The underlying causes for the nutrition crisis include the above, as well as decades of neglect with regard to nutrition, and agricultural science (especially in emerging markets; a failure of governance with respect to the major players involved in nutrition, a weak response by government donors and Foundations to invest in basic nutrition (in contrast to growing support for humanitarian aspects of food aid, and a reluctance to develop private-public partnerships. The emergence of new business models that tackle social problems while remaining profitable offers promise that the long term nutrition needs of people can be met. Businesses can have greater impact acting collectively than individually. Food, retail, food service, chemical and pharmaceutical companies have expertise, distribution systems and customers insights, if well harnessed, could leapfrog progress in addressing the food and nutrition crises. While business can do lots more, its combined impact will be minimal if a range of essential government actions and policies are not addressed. Governments need to create innovative and complementary opportunities that include incentives for businesses including: setting clear nutritional guidelines for fortification and for ready-to eat products; offering agreements to endorse approved products and support their distribution to clinics and schools; eliminating duties on imported vitamins and other micronutrients; and providing tax and other incentives for industry to invest with

  18. The role of business in addressing the long-term implications of the current food crisis.

    Science.gov (United States)

    Yach, Derek

    2008-12-05

    Before the onset of the current food crisis, the evidence of a severely neglected nutrition crisis was starting to receive attention. Increased food prices are having severe impacts on the nutritional status of populations. Our current food system has evolved over decades in a largely unplanned manner and without consideration for the complexity and implications of linkages between health, nutrition, agricultural, economic, trade and security issues. The underlying causes for the nutrition crisis include the above, as well as decades of neglect with regard to nutrition, and agricultural science (especially in emerging markets); a failure of governance with respect to the major players involved in nutrition, a weak response by government donors and Foundations to invest in basic nutrition (in contrast to growing support for humanitarian aspects of food aid), and a reluctance to develop private-public partnerships. The emergence of new business models that tackle social problems while remaining profitable offers promise that the long term nutrition needs of people can be met. Businesses can have greater impact acting collectively than individually. Food, retail, food service, chemical and pharmaceutical companies have expertise, distribution systems and customers insights, if well harnessed, could leapfrog progress in addressing the food and nutrition crises. While business can do lots more, its combined impact will be minimal if a range of essential government actions and policies are not addressed. Governments need to create innovative and complementary opportunities that include incentives for businesses including: setting clear nutritional guidelines for fortification and for ready-to eat products; offering agreements to endorse approved products and support their distribution to clinics and schools; eliminating duties on imported vitamins and other micronutrients; and providing tax and other incentives for industry to invest with donors in essential nutrition

  19. Consequences of the Budget Deficit in the Current Crisis in Romania. Implications on the Labor Market

    Directory of Open Access Journals (Sweden)

    Gabriela MOLĂNESCU

    2011-02-01

    Full Text Available In the current economic activity conditions, in which the need of financial resources is usually higher than the existing funds, the elaborations of budgets at any level is one of the primary issues, particularly as regards the principle of budgetary balance. Approaches regarding sizing budgets deficits, means of financing and particularly sizing public debt get a series of touches of precise nature for different economies. Actual economic, financial, social and administrative conditions put up a series of problems which impose an extremely serious approach of the potential adverse impact by sizing of budget deficits and public debt over the real possibilities of noninflationary financing. In Romania, in the highly complex framework in which the economic activity takes place, in the attempt to show the place held by the budget deficit, a special role is assigned to determine the share of public financial deficit in the consolidated budget revenue and expenditure. Currently, knowledge and concern for reducing the budget deficit are still of great importance, especially as Romania is facing great difficulties in economic development. Amid deepening structural crisis phenomena, increasing budget deficits financed over a non-inflationary limits comes as an additional factor that contributes to imbalances of the economy. In addition, where budgetary expenditures are targeted to satisfy, primary, the redistribution function and to state subsidies, because of the lack of a real multiplier coefficient, the state budget deficit worsens. Influences such as introducing economic disturbance in the mechanisms which cause them to increase budget deficits can be summarized and grouped into two broad categories: economic influences and psychological influences. Regarding economic influences, we can say that they act strongly and strictly determined by how meanings used to cover budget deficit. The modalities used are subject to an analysis by direct or indirect

  20. Tracing the Interface Between Numerical Flexibility and Income Security for European Youth during the Economic Crisis

    DEFF Research Database (Denmark)

    Leschke, Janine; Finn, Mairéad

    This paper traces convergences in terms of flexibility and security with a focus on younger and older youth in European countries. Youth were one of the groups hardest hit by the economic crisis. Young people in most European countries are more likely to work on temporary contracts of limited...... underexplored. This allows us to assess if developments during the economic crisis have improved or rather deteriorated the situation of youth with regard to different dimension of flexibility and security....... benefit schemes. This paper adopts a comparative European approach in order to shed light on the interaction between flexibility and income security, for youth. Special extracts of the aggregate European Labour Force Survey data are used to trace the development of (involuntary) temporary employment among...

  1. The Collaboration of SMEs through Clusters as Defense against Economic Crisis

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    Ioannis Makedos

    2014-01-01

    Full Text Available The aim of this paper is to present the realistic solution to the survival problem that SMEs have during the economic crisis. The role of SMEs is very important in the development of the regional and national economy of each country, particularly for small countries like Greece. On the other hand, universities also play a significant role in the national economy, since they provide Know-How and important research in the SMEs. Nevertheless, due to their small size and financial weakness, especially on the grounds of economic crisis, SMEs would not be able to cover on their own the cost of purchase of university research. The author of this working paper suggests the collaboration of SMEs in the form of clusters so as to be able to self-fund and absorb university Know-How at the same time.

  2. Empirical decomposition of the financial liberalization effects: Crisis versus Economic Growth

    Directory of Open Access Journals (Sweden)

    Amaira Bouzid

    2012-12-01

    Full Text Available This paper aims to present an empirical decomposition of the financial liberalization effects on economic growth and on the incidence of monetary and banking crises. Our study presents the direct effect of financial liberalization on growth by using a dynamic panel model and multivariate probit model of ten emergent countries during1975-2009 by using macroeconomic and financial variables. This article consists to discuss the direct effect of financial liberalization on the growth, like their indirect effect in terms of the additional costs of the crisis. It confirms the results of previous studies that show the positive total effect of financial liberalization on economic growth. Surprisingly, we conclude that the direct effect growth is superior compared of indirect effect crisis in our sample.

  3. Response of Central European Civil Security Systems to the Economic Crisis

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    Brázová Věra - Karin

    2015-12-01

    Full Text Available The public sector across Europe and elsewhere was affected by the economic crisis which fully unfolded in 2008. Considerable attention has been paid in the literature to the impacts of related budgetary cuts on social welfare, while some other areas remain largely under-researched. One of such areas is the so-called civil security, where no such endeavour has been attempted so far. In order to fill this gap, the paper examines the civil security systems of Central European countries (Czech Republic, Slovakia, Poland and Hungary, employing a qualitative comparative analysis. Taking on the systems perspective, the article inquires how the stress posed by the economic crisis affected the civil security systems - their structure and financing. The paper builds on the findings from a 7th FP project, “ANVIL”, within which data on civil protection and disaster management systems were collected.

  4. Globalization of innovation activity by transnational corporations: and its importance in the present economic crisis

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    Anna Zorska

    2010-02-01

    Full Text Available The research aims to investigate the process of globalizing innovation activity conducted by transnational corporations (TNCs, in a wider context of economic changes outside and inside companies. The process has been triggered by decentralization and internationalization of R&D, “creative transition” of foreign subsidiaries as well as implementing research networks and the open innovation model of TNCs’ innovation activity. Under the present economic crisis some slowdown and reorientation of innovation programs are implemented in order to reduce their costs and increase effectiveness. The globalization of corporate innovation activity can contribute to reaching some of TNCs’ goals both under the present crisis and the future revival of the world economy.

  5. VOTING RULES AND REDISTRIBUTION: THE CASE OF THE RECENT ECONOMIC CRISIS

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    DANIEL DUMA

    2015-07-01

    Full Text Available Redistribution and the provision of public goods are understood as the basic functions of the state and decision over the share of each is ensured via incremental negotiation. Even slight variations in the parameters of voting rules may end up with different decisions despite similar preferences of voters. To illustrate this phenomenon, the different response in terms of redistribution effort to the recent economic crisis of 2008-2009 in advanced economies will be studied. Using country level data and accounting for the severity of the economic crisis, the budget constraints, the overall historical size of the welfare state and unemployment dynamics, it will be contended that the size of electoral districts and the embedded long-term incentives they create for policymakers matter in explaining the difference in short-term social expenditure increases across countries

  6. BETWEEN BERLUSCONI AND MONTI: TRADE UNIONS AND ECONOMIC CRISIS IN ITALY

    OpenAIRE

    SERAFINO NEGRELLI; ANDREA SIGNORETTI

    2014-01-01

    The recent labor reforms implemented in Italy by the so-called "technocratic" Monti Government have challenged the traditional role of trade unions. On one side, the reforms in the pension and labor market have been approved without real consultation or bargaining with social parties, under the pressures from the financial and economic crisis and the austerity demanded by the EU central authorities. On the other side, the Government is urging trade unions to contribute to stimulating labor pr...

  7. RELAUNCHING OF ROMANIA'S TOURISM - THE CONTROVERSY OF SAFE TOURISM DURING GLOBAL ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Valentin HAPENCIUC

    2009-06-01

    Full Text Available Economic crisis -is an intensively mediated concept during the past years- it issues with the situation when the business medium confronts with the perspective of a fundamental change, usually sudden and unexpected, that threatens to significantly disturb the present socio-economic perceptions and the daily practice.Even if the emergent markets are the most vulnerable in crisis, they still adapt the easiest to the actual context, counting on economic flexible domains as the tourism industry or IT.The persistence of global economic crisis, but especially the touristy market fragility make it impossible to estimate the evolution of hospitality industry for the next two years. Crisis effects seem to be inevitable in the context where great tourism actors talk about consequences similar to the ones following the terrorists attacks in SUA, in September 2001.It is very important to understand the stress factors that prevent the optimum development of tourism discouraging the touristy flow towards once well-known destinations.Romania is not a touristy destination with a worldwide notoriety, not even European, but some issues like the localization outside those more and more unsafe touristy areas, the peacefulness regarding the terrorism implications and the special natural and anthropic potential, all these, create the necessary premises for promoting a specific tourism, able to induce tourists the idea of security.Among the difficulties that Romania confronts itself with, we mention: unfavourable international image, precarious touristy infrastructure estate and seldom application of quality standards. If these deficiencies are assumed and controlled in the immediate future, then the interest for Romanian tourism will continuously increase and safe tourism could become a tourism relaunching factor after the wrong start for the rural tourism, business tourism or balnear tourism.

  8. [The impact of the economic crisis on health systems of OECD countries].

    Science.gov (United States)

    Paris, Valérie

    2014-10-01

    This paper describes measures adopted by OECD countries in the health sector in response to the economic crisis which began in 2008: increase and diversification of revenues collected for health, increases in user charges, reductions in staff, salaries and prices of health goods and services; and policies aiming to increase health systems efficiency. It then reviews the impact of these policies on health spending trends. © 2014 médecine/sciences – Inserm.

  9. The Street Vendors of Bangkok: Alternatives to Indoor Retailers at a Time of Economic Crisis

    OpenAIRE

    John Walsh

    2010-01-01

    Problem statement: During an economic crisis, consumers will use different techniques to make their money go as far as possible: More carefully comparing prices at point of sale locations, bringing out the coins they previously left unused in saving banks, switching to lower cost options and choosing to shop in less convenient locations in order to find discounts. One such option is to use street vendors rather than regular indoor retailers. Street vendors can provide cheaper goods because, i...

  10. DO WE IDENTIFY SYNERGIES IN PUBLIC MERGERS/ACQUSITIONS: BEFORE AND DURING THE ECONOMIC CRISIS

    OpenAIRE

    Oana Resceanu

    2011-01-01

    The aim of mergers and acquisitions is to create wealth for the shareholders and usually this is accomplished through synergistic expectations. However the evaluation and identification of synergies in mergers and acquisitions is one of the important issues in Corporate Finance. In this paper it is tested the markets reaction to a sample of 61 mergers/acquisitions in the European pharmaceutical sector, realized between end 2004 and beginning 2010- prior and during the economic crisis. In the ...

  11. SUSTAINABILITY OF MONOPOLISTIC COMPETITION DURING THE GLOBAL ECONOMIC CRISIS AND REINDUSTRIALIZATION

    OpenAIRE

    Jovica Marković, Jovana Mutibarić, Marko Carić

    2014-01-01

    Until the early 1920s, the classical theory of price included two main models, perfect competition and monopoly. However, E. Chamberlin and J. Robinson introduced a new theory of monopolistic competition in 1933. At the time of global economic crisis, when only the most powerful companies survive, the model of monopolistic competition is hardly sustainable. In fact, the most widespread market model in highly developed world economies has been replaced by monopoly. Supply reduction due to the ...

  12. Spain's on fire!: Economic Crisis, Public opinion and Public policies towards immigration in Spain

    OpenAIRE

    Charry, Paula Vargas

    2010-01-01

    The Spanish economy has been dramatically hit by the financial crisis which led the country into one of the biggest economic recessions in its history. To what extent has this event influenced the public opinion and perception towards immigration in Spain? In addition, what are the main shifts implemented in the public policies on immigration by the Spanish government?In this study, I intend to analyze the evolution of the public opinion towards immigration from 2000 to 2010 and the effects o...

  13. Anticipations of the Crisis: On the Similarities Between Post Keynesian Economics and Regulation Theory

    OpenAIRE

    Mark Setterfield

    2010-01-01

    This paper explores the similarities between post-Keynesian Economics (PKE) and Regulation Theory (RT). It is argued that, despite important differences between these traditions, the analytical contents of PKE and RT display broad similarities with respect to their treatments of the income-generating process, the crisis-prone nature of capitalism, and the institutional contingency of capitalist growth and development. This thesis is then exemplified and substantiated with reference to the 200...

  14. ELEMENTS TAX OPTIMIZATION SMALL AND MEDIUM ECONOMIC AGENTS DURING CRISIS

    Directory of Open Access Journals (Sweden)

    Negoescu Gheorghe

    2015-05-01

    Full Text Available In Romania there is a high level of taxation, which dramatically reduces the remaining cash available to economic agents in the conditions in which short and long-term loans are granted at interest rates two to three times higher than in the European, US, and Japan. Failure to pay the debts to the state lead to access (interest, penalties and fines significant delay for one year can double duty. Under these conditions, small businesses are forced to seek personal savings (hopefully to offset debts receivable at IFNs in disadvantageous conditions of interest, or the underworld loan sharks. In these circumstances it is not surprising that the number of corporate bankrupts multiplied. In our attempt to answer PFA alternative employment or as a form of tax optimization.

  15. The impact of financial globalization and financialization on the economy in the current crisis through banking corporate governance

    Directory of Open Access Journals (Sweden)

    Juan Antonio Azkunaga

    2013-10-01

    Full Text Available This work analyzes the role of governance of financial entities in the current crisis. Neoliberal economic policies, deregulation and liberalization have characterized financial globalization, giving rise to the financialization of the economy. This paper, using the analysis-synthesis method, shows that the corporate governance of entities has adapted to the new social environment under the influence of the interests of the investors. The results of this paper suggest the need to monitor the over-emphasis on the maximization of short-term shareholder value without relativizing the risk taken to achieve it, as such, the emphasis on short-term shareholder value is considered a crucial contributing factor to the present crisis.

  16. [Trends in environmental risks in the context of the economic crisis. SESPAS report 2014].

    Science.gov (United States)

    Ballester, Ferran; Llop, Sabrina; Querol, Xavier; Esplugues, Ana

    2014-06-01

    This article aims to analyze the impact of the economic and financial crisis on environmental determinants of health. The World Health Organization estimates that between 13% and 27% of the disease burden in countries could be prevented by improving the environment. These effects are larger in vulnerable populations, especially among the poorest. In the last decade, outdoor air pollution (the most significant environmental health risk in most European countries) has declined, mostly due to the European policy of reducing emissions and to the decrease in activity following the economic crisis. During the last few years, this improvement in air quality has occurred simultaneously with a reduction in investment in environmental protection and could therefore be offset in the medium-term. The economic crisis has not reduced the trend for higher temperatures in Spain and Europe because climate change is a global phenomenon that is not directly related to local emissions. To reduce the risk of an increase in the health impact of environmental factors, certain key aspects should be considered, such as the need to maintain or develop adequate monitoring and control systems and the opportunity to implement policies that help improve the quality of the environment and reduce the vulnerability of different population groups in a cross-disciplinary framework of transparency and citizen participation.

  17. THE IMPACT OF ECONOMIC CRISIS ON PUBLIC SERVICES OF SOCIAL VALUE IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Milin Anda Ioana

    2013-07-01

    equal opportunities, financial security during illness not as simple care of the sick. The paper includes analysis related to: the structure of social protection in our country, the scope of these services, the relationship between social protection and poverty, the way and the degree to which social protection deepens or contribute to poverty reduction. The economic crisis triggered in Europe in 2008that also affects Romania, negatively influenced the evolution of social funds in key areas of public interest, education, health and social care. This results from: decreasing share of social spending in the state budget, decreasing share of these expenses in the total family budget due to lower purchasing power and thus the obligation of individual to reduce or waive some costs of this kind, central and local government bodies inability to meet certain service requirements such at the level of the population and especially low-income population groups. Located in the crisis situation the state must seek solutions to keep social services at an appropriate level because the quantity and quality of these services have an impact upon quality of life and standard of living of many individuals. The results of the analysis indicates us a reduced benefit for this type of service, in our country, with negative effects over the entire society. The conclusions aim to support the fact that social policy from our country is insufficient in relation to the real needs of the population, being strongly influenced by domestic economic situation and the size of the global economic crisis.

  18. Impact of the 2008 economic and financial crisis on child health: a systematic review.

    Science.gov (United States)

    Rajmil, Luis; Fernandez de Sanmamed, María-José; Choonara, Imti; Faresjö, Tomas; Hjern, Anders; Kozyrskyj, Anita L; Lucas, Patricia J; Raat, Hein; Séguin, Louise; Spencer, Nick; Taylor-Robinson, David

    2014-06-01

    The aim of this study was to provide an overview of studies in which the impact of the 2008 economic crisis on child health was reported. Structured searches of PubMed, and ISI Web of Knowledge, were conducted. Quantitative and qualitative studies reporting health outcomes on children, published since 2007 and related to the 2008 economic crisis were included. Two reviewers independently assessed studies for inclusion. Data were synthesised as a narrative review. Five hundred and six titles and abstracts were reviewed, from which 22 studies were included. The risk of bias for quantitative studies was mixed while qualitative studies showed low risk of bias. An excess of 28,000-50,000 infant deaths in 2009 was estimated in sub-Saharan African countries, and increased infant mortality in Greece was reported. Increased price of foods was related to worsening nutrition habits in disadvantaged families worldwide. An increase in violence against children was reported in the U.S., and inequalities in health-related quality of life appeared in some countries. Most studies suggest that the economic crisis has harmed children's health, and disproportionately affected the most vulnerable groups. There is an urgent need for further studies to monitor the child health effects of the global recession and to inform appropriate public policy responses.

  19. Impact of the 2008 Economic and Financial Crisis on Child Health: A Systematic Review

    Directory of Open Access Journals (Sweden)

    Luis Rajmil

    2014-06-01

    Full Text Available The aim of this study was to provide an overview of studies in which the impact of the 2008 economic crisis on child health was reported. Structured searches of PubMed, and ISI Web of Knowledge, were conducted. Quantitative and qualitative studies reporting health outcomes on children, published since 2007 and related to the 2008 economic crisis were included. Two reviewers independently assessed studies for inclusion. Data were synthesised as a narrative review. Five hundred and six titles and abstracts were reviewed, from which 22 studies were included. The risk of bias for quantitative studies was mixed while qualitative studies showed low risk of bias. An excess of 28,000–50,000 infant deaths in 2009 was estimated in sub-Saharan African countries, and increased infant mortality in Greece was reported. Increased price of foods was related to worsening nutrition habits in disadvantaged families worldwide. An increase in violence against children was reported in the U.S., and inequalities in health-related quality of life appeared in some countries. Most studies suggest that the economic crisis has harmed children’s health, and disproportionately affected the most vulnerable groups. There is an urgent need for further studies to monitor the child health effects of the global recession and to inform appropriate public policy responses.

  20. The Importance of Access to the SCOPUS Database in the Economic Crisis Condition

    Directory of Open Access Journals (Sweden)

    Atefeh Kalantari

    2014-06-01

    Full Text Available Data acquisition and delivering information resources to clients are among the most vital functions of libraries. However, current political and economic crisis has imposed unpleasant effects on these functions. In such conditions, selecting information resources becomes an ever more complex task. This research intends to answer the question on whether or not the purchase of Scopus services in such a crisis, which makes the subscription of credible scientific journals much more difficult, is a beneficial choice for Iranian medical libraries. The problem will be answered by analyzing the accessibility to full text articles via “view at publisher” image links in Scopus database. Different studies have already been carried out on the abilities and features of Scopus database in scientometric and citation analysis. However, it seems that current study is the first research to examine the value and importance of existing link for accessing the full-text articles such as "view at publisher" link. This link is one of the remarkable features devised in Scopus which has a special importance for end users. Hence, access ratio to full-text documents cited in articles written by Iranian medical faculties was studied through the "view at publisher" link in Scopus, and also via a link devised in the A-Z list of full-text journals in the Iranian National Medical Digital Library database, available at URL: www.inlm.org, followed by comparing the results obtained through the study. Results showed the ability of Scopus to make full-text articles accessible for users' depending on the type and level of individuals or institutional subscription. Such ability itself could justify the necessity for subscribing to Scopus by the universities of medical sciences. Regardless of other features of Scopus such as scientometric studies, etc., this ability becomes more important when access to some articles depends on paying subscription fee either privately or

  1. The Global Financial and Economic Crisis: Analysis and Policy Implications

    Science.gov (United States)

    2009-02-20

    losses was the US$5 billion capital injection into Citibank and Merrill Lynch in 2008, which fell to US$2.2 billion before returning to its current...the amount. October 3. Wells Fargo Bank announced a takeover of Wachovia Corp, the fourth-largest U.S. bank. (Previously, Citibank had agreed to take

  2. Interacting Psycho-economic Expectations Ratios with Equity/debt Realities Suggests a Crisis Warning Method

    Directory of Open Access Journals (Sweden)

    Barry Thornton

    2011-12-01

    Full Text Available The recent April 2011 meeting of the G20 countries considered possible development of a global early warning system to avoid any future financial crisis. Psycho-economic factors are strong drivers of greed, fear and non-rational behavior and experience shows that they should not be excluded from such a project. Rational, logical behavior for attitude and actions has been an assumption in most financial models prior to the advent of the 2008 crisis. In recent years there has been an increasing interest in relating financial activity to phenomena in physics, turbulence, neurology and recent fMRI experiments show that cortical interactions for decisions are affected by previous experience. We use an extension of two Lotka-Volterra (LV interactive equations used in a model for the 2008 crisis but now with fluctuation theory from chemical physics to interact the two previously used heterogenous interacting agents, the psycho-economic ratio CE of investor expectations (favourable/unfavourable and the reality ratio of equity/debt. The model provides a variable, M, for uncertainties in CE arising from the ability of the economy to affect the financial sector. A condition obtained for keeping rates of change in M small to avoid divergence of spontaneous fluctuations, provides a quantifiable time dependent entity which can act as a warning of impending crisis. The conditional expression appears to be related to an extension of Ohm's law as in a recently discovered "chip" and memory; the memristor. The possible role of subthreshold legacies in CE from the previous crisis appears to be possible and related to recent neurological findings.

  3. Economic Importance of Camel: A Unique Alternative under Crisis

    Directory of Open Access Journals (Sweden)

    S. Ahmad*, M. Yaqoob, N. Hashmi1, S. Ahmad2, M. A. Zaman3 and M. Tariq

    2010-10-01

    Full Text Available Increasing human population in the world has arisen the issue of food security. In order to combat with this issue, there is need to explore a new world of resources. Camel can serve the best useful addition to the food supply chain in terms of milk, meat and other products. Dromedary camel is found in Pakistan and its population is highest in Baluchistan (41%. In Pakistan, there are 21 breeds of camel. The main two types are riverine and mountainous. Camels are of vital socio-economic importance in the country as people use it for drawing water from wells, ploughing and leveling land, working mini-mills for oil extraction, grinding wheat, corn and other grains and for crushing sugarcane, and pulling carts for the transportation of goods as well as people. Well-fed camel can yield 10-15L milk per day. Camel milk can also be used for making yogurt, kurth, butter, ghee, rabbri and khoa. Meat, hides and hair are useful by-products of camel. Camel farming will be beneficial for farmers when proper marketing infrastructure is established. Also, standard procedures for the classification and identification of camel breeds for different purposes need more attention. Camel ranching schemes and collaborative research approach are need of the hour. These measures can lead us to utilize this novel animal as a natural resource for coping food demand of ever increasing population.

  4. Does Consumer Buying Behavior Change During Economic Crisis?

    OpenAIRE

    Vinod Sharma; Jayant Sonwalkar

    2013-01-01

    Understanding of consumer buying pattern plays the most important role in the success of any business organization. Hence, the core behaviour of consumer is also of great importance and significance for a successful marketing experience and financial affluence. However, consumer purchasing behaviour can vary severely and has a very intricate trend. Consumer buying behaviour has been attracting the studies and interest of a large amount of academician for a long time. The current financial dow...

  5. THE GLOBAL FINANCIAL CRISIS AND ECONOMIC INTEGRATION: EVIDENCE ON ASEAN-5 COUNTRIES

    OpenAIRE

    Hakim, Lukman; Dahalan, Jauhari

    2015-01-01

    The ASEAN Charter has been ratified by the ten member countries of ASEAN in 2008. This is to reaffirm the commitment of the member countries to the establishment of the ASEAN free trade area by 2015. The ASEAN members must prepare themselves with the economic and non economics aspects to be ready facing this era. Nevertheless, the global financial crisis could be a major hindrance to the implementation of the ASEAN free tradearea. In this study, we attempt to determine how the global financia...

  6. Impact of the economic and financial crisis on the evolving trend of crude steel consumption

    Directory of Open Access Journals (Sweden)

    L. Paliu-Popa

    2016-04-01

    Full Text Available Given that the modern world cannot be conceived without the existence of the steel and its use, the crude steel consumption may be considered as an indicator characterizing the economic development of a country. The purpose of this paper is to establish the evolution of the world, regional and state consumption of crude steel, both per total, as well as per inhabitant, but also the impact of the economic and financial crisis it had on the evolving evolution of using the crude steel. Data subject to the study are related to the period 2004 – 2014 and concern nine regions of development and ten countries.

  7. The Korean economic crisis and coping strategies in the health sector: pro-welfarism or neoliberalism?

    Science.gov (United States)

    Kim, Chang-Yup

    2005-01-01

    In South Korea, there have been debates on the welfare policies of the Kim Dae-jung government after the economic crisis beginning in late 1997, but it is unquestionable that health and health care policies have followed the trend of neoliberal economic and social polices. Public health measures and overall performance of the public sector have weakened, and the private health sector has further strengthened its dominance. These changes have adversely affected the population's health status and access to health care. However, the anti-neoliberal coalition is preventing the government's drive from achieving a full success.

  8. Probability Theory Compatible with the New Conception of Modern Thermodynamics. Economics and Crisis of Debts

    CERN Document Server

    Maslov, V P

    2012-01-01

    We show that G\\"odel's negative results concerning arithmetic, which date back to the 1930s, and the ancient "sand pile" paradox (known also as "sorites paradox") pose the questions of the use of fuzzy sets and of the effect of a measuring device on the experiment. The consideration of these facts led, in thermodynamics, to a new one-parameter family of ideal gases. In turn, this leads to a new approach to probability theory (including the new notion of independent events). As applied to economics, this gives the correction, based on Friedman's rule, to Irving Fisher's "Main Law of Economics" and enables us to consider the theory of debt crisis.

  9. Economic Crisis and SMEs’ Behavior: An Analysis on the Furniture Sector in Italy

    Directory of Open Access Journals (Sweden)

    Marco Cioppi

    2014-09-01

    Full Text Available This paper examines the results of a case study analysis carried out on five small and medium-sized enterprises (SMEs operating in the furnishing sector of an Italian province. The aim of the study was to analyze which kind of strategies SMEs are adopting in order to face the economic crisis started in 2008. The cases analyzed highlighted the ability of firms in reacting by the development a proactive strategy, which brought them to positive economic results over time. Discussion of results and managerial implications are suggested in order to properly address other enterprises acting in similar market condition

  10. Equity during an economic crisis: financing of the Argentine health system.

    Science.gov (United States)

    Cavagnero, Eleonora; Bilger, Marcel

    2010-07-01

    This article analyses the redistributive effect caused by health financing and the distribution of healthcare utilization in Argentina before and during the severe 2001/2002 economic crisis. Both dramatically changed during this period: the redistributive effect became much more positive and utilization shifted from pro-poor to pro-rich. This clearly demonstrates that when utilization is contingent on financing, changes can occur rapidly; and that an integrated approach is required when monitoring equity. From a policy perspective, the Argentine health system appears vulnerable to economic downturns mainly due to high reliance on out-of-pocket payments and the strong link between health insurance and employment.

  11. External costs due to congestion, accidents, energy consumption and emissions before and into the economic crisis: Pilot study along selected roadways of Thessaloniki, Greece

    Directory of Open Access Journals (Sweden)

    Sotiriou Matina

    2015-01-01

    Full Text Available Prior to the economic crisis, forecasts indicated a continuous increase of traffic in European cities, highlighting the need of a policy to alleviate the external impacts of transport. The crisis, however, generated pressures on all sectors of activity, with transport being an indicative example. The reduction of income and employment, the increased vehicle maintenance and renewal costs and the transport related taxation seem to affect the transport system and its external impacts. Thus, taking for granted that Europe will eventually achieve “sustainable recovery” from the crisis, the current period presents an opportunity for promoting sustainable mobility policies and interventions in the most affected by the crisis European cities. Towards this goal, it is essential to capitalise on contemporary techniques for the monitoring of changes in transport external costs. The purpose of the paper is the development of a methodology for the estimation of external costs due to congestion, air pollution, climate change and accidents, based on road traffic data. The methodology is applied along road arteries in Thessaloniki for the period “before and after” the emergence of the crisis. As a result, an overall decrease in external costs is observed, creating an unforeseen “surplus” for the society during the crisis.

  12. A political crisis in an economic tempest (January 2008 – December 2012

    Directory of Open Access Journals (Sweden)

    Davide VITTORI

    2013-06-01

    Full Text Available The aim of this paper is to analyze the evolution of the European Union in the economic and financial field during the global crisis that stroke Europe, from January 2008 until December 2012. My argument is that the European Union has faced certain political and economical imbalances since its beginnings in 1992 which have worsen the European economic and financial scenario. These imbalances - rooted in the EU architecture – were the result of a primary political choice: building a European market based on neoliberal values and setting aside any political controversy that may have caused a slowdown in the economic and financial integration. Since 1992, the Maastricht Treaty has shown some incongruities which were not resolved in the following two decades. Moreover, the decision-making process became more intricate so that Europe faced the worst post-war financial crisis without the instruments to answer rapidly to the financial speculation. The ECB, following its price stability mandate, was not able to react with counter-cyclical measures, thus exacerbating the financial imbalances between Northern and Southern European States. After an economic “perfect storm”, EU Member States need to have enough farsightedness to implement some fundamental reforms in order to give the necessary means to EU institutions to erect an efficient firewall against financial speculations.

  13. Economic Recovery: Sustaining U.S. Economic Growth in a Post-Crisis Economy

    Science.gov (United States)

    2010-07-22

    Mankiw , Principles of Economics (Ft. Worth, Dryden Press, 1998), p556, and Robert J. Barro, “Are Government Bonds Net Wealth?” Journal of Political...CRS Report for Congress Prepared for Members and Committees of Congress Economic Recovery: Sustaining U.S. Economic Growth in a Post...2. REPORT TYPE 3. DATES COVERED 00-00-2010 to 00-00-2010 4. TITLE AND SUBTITLE Economic Recovery: Sustaining U.S. Economic Growth in a Post

  14. Was the economic crisis of 2008 good for Icelanders? Impact on health behaviors.

    Science.gov (United States)

    Ásgeirsdóttir, Tinna Laufey; Corman, Hope; Noonan, Kelly; Ólafsdóttir, Þórhildur; Reichman, Nancy E

    2014-03-01

    This study uses the 2008 economic crisis in Iceland to identify the effects of a macroeconomic downturn on a range of health behaviors. We use longitudinal survey data that include pre- and post-reports from the same individuals on a range of health-compromising and health-promoting behaviors. We find that the crisis led to large and significant reductions in health-compromising behaviors (such as smoking, drinking alcohol or soft drinks, and eating sweets) and certain health-promoting behaviors (consumption of fruits and vegetables), but to increases in other health-promoting behaviors (consumption of fish oil and recommended sleep). The magnitudes of effects for smoking are somewhat larger than what has been found in past research in other contexts, while those for alcohol, fruits, and vegetables are in line with estimates from other studies. Changes in work hours, real income, financial assets, mortgage debt, and mental health, together, explain the effects of the crisis on some behaviors (such as consumption of sweets and fast food), while the effects of the crisis on most other behaviors appear to have operated largely through price increases.

  15. Labour Market Integration and Public Perceptions of Immigrants: A Comparison between Germany and Spain During the Economic Crisis

    Directory of Open Access Journals (Sweden)

    Dirk Godenau

    2012-06-01

    The economic crisis has made parts of the population more sceptical about immigration in both countries. However, there appear to be no links between the severity of the crisis and public debates on migration. Although Spain was definitely hit harder by the crisis than Germany, and immigrants were affected more severely, public debates on migration and integration issues seem to be at least as fierce in Germany as in Spain. The legacy of past migrations and migration policies exerts a more significant influence on the public perception of migration as a risk than economic factors do.

  16. Implementing the EU climate and energy package with the economic crisis

    Energy Technology Data Exchange (ETDEWEB)

    Kerebel, C.

    2009-07-01

    flat GDP growth in 2010 (+0.04%), followed from 2011 by a growth at a slower pace than was predicted before the crisis. The aim of our study is to analyze how the economic downturn in Europe will affect the EU's greenhouse gases emissions and its ability to reach the 20% emission reductions by 2020 compared to 1990. Using the knowledge available at the end of 2009 and drawing lessons from the past emissions trends in Europe from 1990, we will assess the progress towards the 20% reduction target over the period (from 1990 to 2020). A discourse often heard at this time of recession is that the EU climate policy is now out of place: because of the crisis the fight against climate change is said to be too costly and nothing should be required from European industries already coping with a worldwide slowing down of demand for goods and products and huge financial restrictions. Another similar discourse argues that, with the downturn in economic and industrial activities, GHG emissions will automatically decrease, so no effort is required to comply with the EU-wide targets. The economic slowdown will do the trick. Our analysis aims at putting these arguments into perspective. What does the economic downturn really change in EU's emissions future profile up to 2020? The EU Climate and Energy Package is composed of four legislative acts: A Directive amending the current EU-Emission Trading Scheme (EU-ETS); A Decision on GHG Reduction Effort Sharing; A Directive on Renewable Energies; A Directive on the Geological Storage of Carbon dioxide. The main elements of the package addressing climate change are the first two pieces of legislation mentioned above, that limit GHG emissions in the EU by 2020: the directive reviewing the EU-ETS for the period 2013-20 and the decision limiting emissions in the non-ETS sectors. One important difference between these two pieces of legislation is that the target for the ETS sector is community-wide, whilst for the non-ETS sectors

  17. The Path to and Lessons from the Economic Crisis in Estonia: Employee Compensation Development

    Directory of Open Access Journals (Sweden)

    Janno Reiljan

    2013-01-01

    Full Text Available The aim of this article is to describe Estonia’s economic development strategy in the Baltic Sea region primarily from the perspective of labour costs as a factor in international competitiveness. Estonia’s position in the international division of economic activities will be explored based on expert assessments in the context of a study of theoretical literature about labour compensation as a factor in international competitiveness. The differences between the impact of the economic boom and crisis periods on the level and dynamics of employee compensation (labour related expenditures, and gross and net salary in Estonia at the national level will be empirically analysed. An empirical analysis will also be performed to describe the changes in the structure of economic activities (NACE-classification in Estonia

  18. Financial Bubbles, Real Estate Bubbles, Derivative Bubbles, and the Financial and Economic Crisis

    Science.gov (United States)

    Sornette, Didier; Woodard, Ryan

    The financial crisis of 2008, which started with an initially well-defined epicenter focused on mortgage backed securities (MBS), has been cascading into a global economic recession, whose increasing severity and uncertain duration has led and is continuing to lead to massive losses and damage for billions of people. Heavy central bank interventions and government spending programs have been launched worldwide and especially in the USA and Europe, with the hope to unfreeze credit and bolster consumption. Here, we present evidence and articulate a general framework that allows one to diagnose the fundamental cause of the unfolding financial and economic crisis: the accumulation of several bubbles and their interplay and mutual reinforcement have led to an illusion of a "perpetual money machine" allowing financial institutions to extract wealth from an unsustainable artificial process. Taking stock of this diagnostic, we conclude that many of the interventions to address the so-called liquidity crisis and to encourage more consumption are ill-advised and even dangerous, given that precautionary reserves were not accumulated in the "good times" but that huge liabilities were. The most "interesting" present times constitute unique opportunities but also great challenges, for which we offer a few recommendations.

  19. THE IMPACT OF THE GLOBAL ECONOMIC CRISIS TOURISM IN POLAND AND IN SELECTED COUNTRIES

    Directory of Open Access Journals (Sweden)

    Michał Roman

    2015-03-01

    Full Text Available  The article aims to present the infl uence of the 2008/2009 world economic crisis on tourism in Poland, the European Union and worldwide. It started from the collapse of the real estate market, which was preceded by several years of irrational increase in its prices. The consequences were also of great importance for business operations in the tourism sector, both on the supply and the demand plane. The study used data of World Tourism Organization and World Travel & Tourism Council, as well as statistical data of the Główny Urząd Statystyczny and reports from the Institute of Tourism. The spatial range of the analysed phenomena includes Poland in comparison with other European Union countries and the world. The article uses a descriptive method. In Poland, the economic crisis was mainly connected with the problems with Polish zloty and their consequences. There was an evident decrease in the number of foreign tourists’ visits to Poland in 2008/2009. Evident falling tendencies in the 1st quarter of 2009 were also recorded in the area of accommodation for organised groups of tourists. It is also worth noting that the effects of the crisis of 2008-2009 in 2010 was stopped and e.g. In Poland recorded growth of tourist arrivals by 5%. In comparison with the same period of 2008, the total number of foreigners using that base declined by 13.2%.

  20. WELL-BEING INEQUALITY AND THE ECONOMIC CRISIS: EVIDENCE FROM LIFE IN TRANSITION SURVEYS IN EASTERN EUROPE

    Directory of Open Access Journals (Sweden)

    Alina Botezat

    2014-06-01

    Full Text Available This paper examines the relationship between well-being inequality and the economic crisis for countries from Central and Eastern Europe. Using data from Life in Transition Surveys waves 2006 and 2010, we assess the level of happiness gap by computing the instrument-effect-corrected standard deviation. Our results indicate that the dispersion in self-reported well-being levels increased after the economic crisis in all considered countries. We also show that the life satisfaction variation is not necessarily higher for those who report being poor compared to those from the upper part of the income hierarchy. Results also suggest that in general the gaps are higher in the case of those who report being not affected at all by the economic crisis compared to those who report being affected to a large extent by the crisis.

  1. The Evolution of the Accounting Practices During the Recent Economic Crisis: Empirical Survey Regarding the Earnings Management

    Directory of Open Access Journals (Sweden)

    Cătălina Gorgan

    2012-06-01

    Full Text Available Financial markets rely on confidence and confidence is supported by the presumption that financial statements are accurate and reflect the economic reality. Financial scandals from 2001-2002 as well as the recent economic crisis have raised questions about the integrity of accounting information provided to investors and other categories of users. In this context, our study aims to analyze the extent to which financial reporting is involved in financial crisis and, on the other hand to outline the changes produced by the crisis in the quality of financial information reported by companies. The main objective of the paper consist in arguing that earnings management by discretionary accruals for big European companies decline during the recent economic crisis compared to previous period

  2. The economic crisis as a game changer? Exploring the role of social construction in sustainability transitions

    Directory of Open Access Journals (Sweden)

    Derk Loorbach

    2016-12-01

    Full Text Available Continuing economic turbulence has fuelled debates about social and political reform as much as it has stimulated actions and initiatives aimed at a more fundamental transition of dominant economic systems. This paper takes a transition perspective to explore, from a Western European viewpoint, how the economic crisis is actually viewed through a variety of interpretations and responded to through a range of practices. We argue that framing societal phenomena such as the economic crisis as "symptoms of transition" through alternative narratives and actions can give rise to the potential for (seemingly short-term pressures to become game changers. Game changers are then defined as the combination of: specific events, the subsequent or parallel framing of events in systemic terms by engaged societal actors, and (eventually the emergence of (diverse alternative narratives and practices (in response to the systemic framing of events. Game changers, when understood in these terms, help to orient, legitimize, guide, and accelerate deep changes in society. We conclude that such dynamics in which game changers gain momentum might also come to play a critical role in transitions. Therefore, we argue for developing a better understanding of and methodologies to further study the coevolutionary dynamics associated with game changers, as well as exploring the implications for governance.

  3. The socio-economic drivers of bushmeat consumption during the West African Ebola crisis

    Science.gov (United States)

    Arandjelovic, Mimi; Boesch, Lukas; Gatiso, Tsegaye; Grimes, Trokon; Kuehl, Hjalmar S.; Lormie, Menladi; Stephens, Colleen; Tweh, Clement; Junker, Jessica

    2017-01-01

    Bushmeat represents an important source of animal protein for humans in tropical Africa. Unsustainable bushmeat hunting is a major threat to wildlife and its consumption is associated with an increased risk of acquiring zoonotic diseases, such as Ebola virus disease (EVD). During the recent EVD outbreak in West Africa, it is likely that human dietary behavior and local attitudes toward bushmeat consumption changed in response to the crisis, and that the rate of change depended on prevailing socio-economic conditions, including wealth and education. In this study, we therefore investigated the effects of income, education, and literacy on changes in bushmeat consumption during the crisis, as well as complementary changes in daily meal frequency, food diversity and bushmeat preference. More specifically, we tested whether wealthier households with more educated household heads decreased their consumption of bushmeat during the EVD crisis, and whether their daily meal frequency and food diversity remained constant. We used Generalized Linear Mixed Models to analyze interview data from two nationwide household surveys across Liberia. We found an overall decrease in bushmeat consumption during the crisis across all income levels. However, the rate of bushmeat consumption in high-income households decreased less than in low-income households. Daily meal frequency decreased during the crisis, and the diversity of food items and preferences for bushmeat species remained constant. Our multidisciplinary approach to study the impact of EVD can be applied to assess how other disasters affect social-ecological systems and improve our understanding and the management of future crises. PMID:28282378

  4. Vpliv globalne krize na zunanjetrgovinske tokove = Impact of the Global Economic Crisis on International Trade

    Directory of Open Access Journals (Sweden)

    Sabina Koleša

    2010-09-01

    Full Text Available The world economy is facing a global crisis that spilled over from thefinancial sector to the real economy in the last quarter of 2008. Thecrisis led to falls in industrial production and foreign direct investmentsas well as to a sharp decrease in international trade volume.The article will focus on the reasons for the decrease of global trade,analyze the change of external trade policies (implementation of protectionistmeasures, also in comparison with the 1930s and 1970s crisis,and related activities of international organisations: World TradeOrganisation (WTO, Organisation for Economic Cooperation and Development(OECD, International Monetary Fund (IMF,World bank(WB and European Commission (EC.

  5. Has the economic crisis led to a new risk profile for international travellers?

    Science.gov (United States)

    Roure, S; Pérez-Quílez, O; Vallès, X; Martínez-Cuevas, O; Sabrià, M; Valerio, L

    2015-11-01

    The economic world crisis has led to the migration of European workers to developing countries with a high incidence of infectious diseases. The objective of this study was to assess whether this context has produced an increase in the risks to international travellers for work reasons (TWR). Observational, retrospective study. The study population included TWR who were attended before travelling at an International Health Unit in the year 2007 (the year before the initiation of the European crisis) and in the year 2012 (when the structural crisis was established). A comparative socioeconomic analysis was performed as well as an analysis of the risk factors present in both groups. In 2007 and 2012 a total of 9,197 travellers were attended. Of these, there were 344 TWR (3.4%); 101 TWR (2.8%) in 2007 and 243 TWR (4.5%) in 2012 (p<0.001). The average age of the travellers was 38.1 years (SD: 10.57). The most common destination was Sub-Saharan Africa, in 164 (47.6%) of the cases. Malaria chemoprophylaxis was prescribed to 152 travellers (44%) and 80 presented comorbidity (23.25%). The TWR from 2012 presented a significantly greater age (p=0.05), more comorbidity (p=0.018) and a greater proportion of stays in rural areas (p=0.0009) for longer time periods (p=0.001). At 5 years from the start of the economic crisis, there was a change in the profile of TWR. Their number has increased significantly, as has the proportion who present risk factors for contracting imported diseases. The International Health Units should adapt to these new circumstances and adopt preventive measures for this population. Copyright © 2015 Elsevier España, S.L.U. y Sociedad Española de Medicina Interna (SEMI). All rights reserved.

  6. Economic Crisis, Austerity Policies, Health and Fairness: Lessons Learned in Spain.

    Science.gov (United States)

    Lopez-Valcarcel, Beatriz G; Barber, Patricia

    2017-02-01

    This paper reviews economic and medical research publications to determine the extent to which the measures applied in Spain to control public health spending following the economic and financial crisis that began in 2008 have affected healthcare utilization, health and fairness within the public healthcare system. The majority of the studies examined focus on the most controversial cutbacks that came into force in mid-2012. The conclusions drawn, in general, are inconclusive. The consequences of this new policy of healthcare austerity are apparent in terms of access to the system, but no systematic effects on the health of the general population are reported. Studies based on indicators of premature mortality, avoidable mortality or self-perceived health have not found clear negative effects of the crisis on public health. The increased demands for co-payment provoked a short-term cutback in the consumption of medicines, but this effect faded after 12-18 months. No deterioration in the health of immigrants after the onset of the crisis was unambiguously detected. The impact of the recession on the general population in terms of diseases associated with mental health is well documented; however, the high levels of unemployment are identified as direct causes. Therefore, social policies rather than measures affecting the healthcare system would be primarily responsible. In addition, some health problems have a clear social dimension, which seems to have become more acute during the crisis, affecting in particular the most vulnerable population groups and the most disadvantaged social classes, thus widening the inequality gap.

  7. Borrowing of the International Monetary Fund during the global financial and economic crisis

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    Gnjatović Dragana

    2015-01-01

    Full Text Available The paper analyses the rapid growth of borrowing of the International Monetary Fund during the global financial and economic crisis. According to the Articles of Agreement of the IMF, the basis of its financial resources consists of its own funds created from paid-in capital (quotas by the Member States. Only if it appears to be that those resources are not sufficient for its ongoing financial operations, the Fund has a possibility to borrow. However, due to the large growth of demand for the Fund's resources induced by the global financial and economic crisis since 2008, the dominant position in the structure of its financial resources has been overtaken by borrowing on bilateral and multilateral grounds. The aim of this paper is to examine the reasons why borrowing has by far overgrown the role of supplementary source of the IMF resources during the crisis. The paper starts from the hypothesis that the reasons are of institutional nature since the very method of decision making on overall quota increase did not leave any room for a rapid reaction. Namely, the IMF could only respond quickly and effectively to the sharply increased demand of the Member States hit by the crisis by relying on borrowing. The one hundred percent increase in credit potential of the Fund, its scale unprecedented in the seventy-year long history of the IMF operations, would not have been possible had it waited for the realization of the decision on general quotas increase within their, fourteenth in the row, review.

  8. Leading, Following or Complementing in Economic Crisis: A Conceptual Model Illustrating Nonprofit Relationships with Public Schools

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    Laurie Paarlberg

    2014-05-01

    Full Text Available Public and nonprofit organizations, entwined in the delivery of public goods and services, are in the midst of challenging economic times. In these circumstances, sound collaborative leadership may help bridge budget and program service delivery shortfalls. In this paper, we examine the administrative dynamics of mutual reliance between two prominent public and nonprofit organizations: public schools and parent-teacher groups (PTGs. We conclude that the partnership is changing as a result of external, economic forces. In essence, we are seeing a threat-rigidity response. The economic crisis may be responsible for causing PTGs to narrow their range of activities away from broader strategic issues that can be addressed through their confrontation activities and advocacy mission towards a narrower focus on classroom activities that protect core school operations, namely instruction.

  9. Liberalisation and regulation in the financial crisis – is behavioural economics a solution?

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    Liviu-George MAHA

    2013-03-01

    Full Text Available The causes of economic crisis are a subject of intense debate, most opinions of economists ranging from the liberalization of the market to its regulation. We believe that usually there is “sufficient state” and that a change in its level does not have the expected effects. Although on the long term the reduction of the state presence would be preferable, on the medium and short term this would have negative effects, such as the reduction of the number of employees. One solution would be abandoning the simplistic neoclassical economic models, and replacing them with models developed in behavioural economics that would allow state and companies to develop more effective strategies.

  10. Issues and Tasks in Intra-ASEAN Economic Cooperation after the Asian Economic Crisis

    OpenAIRE

    SHIMIZU, Kazushi

    2005-01-01

    The Association of Southeast Asian Nations (ASEAN) is leading regional economic cooperation among developing countries and regional economic cooperation organization in East Asia. ASEAN has been the only economic cooperation in East Asia and promoted deepening and widening of its regional cooperation. The original members in 1967 were five countries : Indonesia, Malaysia, the Philippines, Singapore and Thailand, growing to include Brunei in 1984, Vietnam in 1995, Myanmar and Laos in 1997, and...

  11. The Impact of the 2008 Economic Crisis on Substance Use Patterns in the Countries of the European Union

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    Geert Dom

    2016-01-01

    Full Text Available Background: From 2008 on, a severe economic crisis (EC has characterized the European Union (E.U.. However, changes in substance use behavioral patterns as a result of the economic crisis in Europe, have been poorly reflected upon, and underlying mechanisms remain to be identified; Methods: In this review we explore and systematize the available data on the effect of the 2008 economic crisis on patterns of substance use and related disorders, within the E.U. countries; Results: The results show that effects of the recession need to be differentiated. A number of studies point to reductions in population’s overall substance use. In contrast, an increase in harmful use and negative effects is found within specific subgroups within the society. Risk factors include job-loss and long-term unemployment, and pre-existing vulnerabilities. Finally, our findings point to differences between types of substances in their response on economic crisis periods; Conclusions: the effects of the 2008 economic crisis on substance use patterns within countries of the European Union are two-sided. Next to a reduction in a population’s overall substance use, a number of vulnerable subgroups experience serious negative effects. These groups are in need of specific attention and support, given that there is a real risk that they will continue to suffer negative health effects long after the economic downfall has formally been ended.

  12. Global Economic Crisis And The Danger Of Protectionism: Does International Law Help?

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    Sergey Ripinsky

    2009-04-01

    Full Text Available The global economic crisis places national economies under strain, and governments around the world may be tempted to support local producers and workers by putting in place protectionist policies. In spite of the formal G-20 promise to abstain from such steps, recent evidence shows that countries, including those from the G-20, have been introducing measures to the detriment of international trade and investment. Policies of this kind proved seriously harmful during the Great Depression of the 1930s. Today, the international legal landscape is markedly different but can it serve as an effective break on protectionism in crisis times? This article reviews relevant international disciplines in the areas of trade, investment and state aid and concludes that while the system will generally prevent protectionist policies, existing lacunae, ambiguous provisions and a lack of effective enforcement all indicate that it cannot be relied upon to provide a durable guarantee against economic nationalism, especially if the economic situation continues to deteriorate.

  13. THE IMPACT OF THE ECONOMIC CRISIS ON THE REGIONAL DISPARITIES OF EARNINGS IN ROMANIA

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    Amalia CRISTESCU

    2015-12-01

    Full Text Available After eight years since acquiring the status of EU member state, Romania is still registering high disparities regarding the regional development, even if over the past years the funding from the European Regional Development Fund has started to be significant. The inter- and intraregional disparities are seen both in terms of aggregate economic results, and in respect of infrastructure, territorial distribution and the business enterprise system, the urban/ rural relation, the conditions of living and especially the population’s income level. Unfortunately, the ambitious projects for reducing the regional disparities inspired by the policy in the field of EU have been suppressed quickly by the world economic crisis. This being said, the authors aim at analysing the earnings disparities on regional level in Romania, respectively the impact the economic crisis has had over the dynamic of these disparities. Thus, we have attempted to identify the factors to have influenced the earnings and the earning inequalities. For the econometric analysis, we decided to assess a data panel at the level of development regions. The independent variables to have entered the pattern were the gross added value, foreign direct investments, the post-graduate and higher education graduates and the inflation rate.

  14. Determinants of Foreign Direct Investments in Bulgaria and Romania in the Context of Recent Economic Crisis

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    Mirel-Daniel Simionescu

    2017-03-01

    Full Text Available The objective of this paper is to select some relevant macroeconomic determinants for foreign direct investment (FDI in Bulgaria and Romania since the start of the recent economic crisis (2008-2015. Even if the economic recession installed in 2009 in Romania, the foreign investors’ decisions were influenced by the moment of global recession from 2008. A Bayesian approach was proposed, because of the small sample for the variables in analyzed period: FDI as percent of GDP, real GDP rate, unemployment rate, inflation rate, real interest rate, real effective exchange rate index (2010=100 and money demand (M2 as percent of GDP. The estimation results reflected that foreign investors in both countries were attracted by the increase in GDP from a year to another. On the other hand, for Bulgaria the inflation rate was the strongest determinant, indicating the economic stability of the country that made huge efforts in getting one digit inflation rate. In Romania, as expected, the foreign investors were searching for cheap labour force and the increase in unemployment rate attracted more FDI during the crisis period.

  15. Health Disparities by Income in Spain Before and After the Economic Crisis.

    Science.gov (United States)

    Coveney, Max; García-Gómez, Pilar; Van Doorslaer, Eddy; Van Ourti, Tom

    2016-11-01

    Little is known about how health disparities by income change during times of economic crisis. We apply a decomposition method to unravel the contributions of income growth, income inequality and differential income mobility across socio-demographic groups to changes in health disparities by income in Spain using longitudinal data from the Survey of Income and Living Conditions for the period 2004-2012. We find a modest rise in health inequality by income in Spain in the 5 years of economic growth prior to the start of the crisis in 2008, but a sharp fall after 2008. The drop mainly derives from the fact that loss of employment and earnings has disproportionately affected the incomes of the younger and healthier groups rather than the (mainly stable pension) incomes of the groups over 65 years. This suggests that unequal distribution of income protection by age may reduce health inequality in the short run after an economic recession. Copyright © 2016 John Wiley & Sons, Ltd.

  16. Understanding of headache patterns modification in an emergency department during the economic crisis of Greece.

    Science.gov (United States)

    Bougea, Anastasia; Spantideas, Nicolaos; Anagnostou, Evangelos; Massou, Efthalia; Xirou, Sophia; Thomaidis, Thomas; Evdokimidis, Ioannis; Kararizou, Evangelia

    2016-08-01

    Very few neurological research is published regarding health effects of global economic crisis. Our aim was to assess the impact of economic recession on frequency and severity of headaches. We also tested if depression, anxiety and experiences associated with crisis, such as unemployment, were reflected in headaches. This is a retrospective observational study in the Emergency setting of tertiary Clinic from 1 January 2008 until 31 December 2009 and from 1 January 2010 until 31 December 2011. Demographic data were collected of 1094 consecutive adult patients with headache. Multinomial logistic regression performed to examine if hospital anxiety depression (HAD), HAD anxiety, experience of serious life events, year of survey had influence on type of headache. The total number of headache cases increased significantly from 2008 to 2011 (p  0.05), while migraines decreased. Secondary and not otherwise specified (NOS) increased significantly (p < 0.05). The most common, overtime, was Tension type headache, followed by migraines (in 2008, 2011) and NOS (2010). Chi square test showed significant correlation between type of headache and year, as well medication type and year (p < 0.05). Common analgesics, the most common medication, increased five times during survey period (77 % 2008 to 87.6 % 2011). Multivariate analysis revealed stronger association for experience serious events with NOS vs. tension type headache [odds ratio (OR) 0.13; 95 % confidence interval (CI) 0.03, 0.7]. This is the first study showing that the prolonged economic crisis affected headache frequency accompanied by a higher use of analgesics.

  17. Bank ownership, lending, and local economic performance during the 2008–2009 financial crisis

    Science.gov (United States)

    Coleman, Nicholas; Feler, Leo

    2017-01-01

    Although government banks are frequently associated with political capture and resource misallocation, they may be well-positioned during times of crisis to provide countercyclical support. Following the collapse of Lehman Brothers in September 2008, Brazil’s government banks substantially increased lending. Localities in Brazil with a high share of government banks received more loans and experienced better employment outcomes relative to localities with a low share of government banks. While increased government bank lending mitigated an economic downturn, we find that this lending was politically targeted, inefficiently allocated, and reduced productivity growth. PMID:28936027

  18. Crisis Management: Challenge or Opportunity for Public and Private Managers Face Economic Disaster

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    Lucean MIHALCEA

    2012-11-01

    Full Text Available Successful managers find ways to overcome situations of uncertainty. The strategies adopted are based on a series of simplistic reasoning such as analogy, taking into account the ideas of experts, rigorous debate and experimentation. Napoleon Bonaparte said that "there is nothing more important and more valuable than being able to make decisions." Business leaders today must deal with an avalanche of ambiguity, it must decide on the future of the company. I intend to expose some successful methods by which top managers were able to transform into opportunities, challenges of economic crisis.

  19. [Families of the economic crisis in paediatric Primary Care clinics: descriptive observational study].

    Science.gov (United States)

    Martín Martín, R; Sánchez Bayle, M; Gancedo García, C; Teruel de Francisco, M C; Coullaut López, A

    2016-04-01

    To study the impact of the economic crisis on the families of the children who attend Primary Health Care and its relationship with their socioeconomic status. Observational descriptive study was conducted by analysing the results of 453 questionnaires, given to the parents of children between 1 and 7 years old who attended 4 paediatric clinics in Madrid. The raw data was analysed, and comparisons between groups and multivariate analysis were performed. In the multivariate analysis, the variables related to the non-acquisition of prescribed medication are: lower income level OR=0.118, p<.0001 and lower educational level OR=0.464, p<.001; the variables related to the reduction of food expenditure are: lower income level OR=0.100, p<.0001 and a higher number of family members OR=1.308, p=.045; the variables related to anti-pneumococcal vaccination without public funding are: higher income level OR=2.170, p=.0001, higher educational level OR=1.835, p=.013, and not being an immigrant OR=0.532, p=.037. The presence of health problems from the beginning of the economic crisis is related to unemployment OR=4.079, p=.032, lower educational level R=0.678, p=.042, and income level OR=0.342, p<.0001. In all cases, the models achieved a statistical significance of p<.0001. The economic crisis has greater impact on the group with the lowest income level in all analysed variables. The lower educational level and higher number of family members has an impact on the reduction in food expenditure. The fact of being an immigrant has an impact on not receiving the anti-pneumococcal and rotavirus vaccination. Unemployment leads to an increase in health problems in the family. To sum up, the economic crisis has increased inequalities according to socioeconomic status. Copyright © 2015 Asociación Española de Pediatría. Published by Elsevier España, S.L.U. All rights reserved.

  20. Reflecting the Context of MPA Education in the Time of Economic Crisis in Public Sectors in Britain and the Netherlands

    Science.gov (United States)

    Oldfield, Chrissie; Berg, Mireille van den

    2013-01-01

    The reality of the economic crisis and subsequent cuts in public sector funding in some European countries means that the context for public management education is significantly changing. In a period of economic constraint there is the obvious questioning of the cost of public management education programmes and even more of their relevance and…

  1. [Study protocol on the effect of the economic crisis on mortality and reproductive health and health inequalities in Spain].

    Science.gov (United States)

    Pérez, Glòria; Gotsens, Mercè; Palència, Laia; Marí-Dell'Olmo, Marc; Domínguez-Berjón, M Felicitas; Rodríguez-Sanz, Maica; Puig, Vanessa; Bartoll, Xavier; Gandarillas, Ana; Martín, Unai; Bacigalupe, Amaia; Díez, Elia; Ruiz, Miguel; Esnaola, Santiago; Calvo, Montserrat; Sánchez, Pablo; Luque Fernández, Miguel Ángel; Borrell, Carme

    The aim is to present the protocol of the two sub-studies on the effect of the economic crisis on mortality and reproductive health and health inequalities in Spain. Substudy 1: describe the evolution of mortality and reproductive health between 1990 and 2013 through a longitudinal ecological study in the Autonomous Communities. This study will identify changes caused by the economic crisis in trends or reproductive health and mortality indicators using panel data (17 Autonomous Communities per study year) and adjusting Poisson models with random effects variance. Substudy 2: analyse inequalities by socioeconomic deprivation in mortality and reproductive health in several areas of Spain. An ecological study analysing trends in the pre-crisis (1999-2003 and 2004-2008) and crisis (2009-2013) periods will be performed. Random effects models Besag York and Mollié will be adjusted to estimate mortality indicators softened in reproductive health and census tracts.

  2. MODERN GLOBAL FINANCIAL AND ECO-NOMIC CRISIS AND ITS INFLUENCE ON SE-LECTED COUNTRIES OF THE WORLD

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    Shestopalova A. O.

    2013-12-01

    Full Text Available The article investigates the global monetary and financial crisis and its impact on individual countries and regions of the world. The author comes to the conclusion that the first onset of the global financial crisis began in the U.S. in January 2006, when a number of small mortgage banking institutions declared bankruptcy. Secondly, the author suggested that we should expect a second wave of global financial and economic crisis, which will lead to even more devastating consequences for individual countries and regions

  3. Tipos de Cambio Cuasi-fijo y Posibilidad de Crisis Financieras: Solarizar o Dolarizar la Economía Peruana?

    OpenAIRE

    2003-01-01

    This working paper has been elaborated with the aim to provide Peruvian policymakers and scholars-academics with economic related concepts and views about the best Monetary Anchor for a Central Bank to deal with control of inflation as well as to prevent them far from possibilities of undesirable financial crisis. We must acknowledge that some causes of financial crisis in developing countries and developed countries like European are very similar such as historical high Fiscal Deficit, Publi...

  4. The global economic crisis, household income and pre-adolescent overweight and underweight: a nationwide birth cohort study in Japan.

    Science.gov (United States)

    Ueda, P; Kondo, N; Fujiwara, T

    2015-09-01

    We hypothesized that children from lower income households and in households experiencing a negative income change in connection to the global economic crisis in 2008 would be at increased risk of adverse weight status during the subsequent years of economic downturn. Data were obtained from a nationwide longitudinal survey comprising all children born during 2 weeks of 2001. For 16,403 boys and 15,206 girls, information about anthropometric measurements and household characteristics was collected from 2001 to 2011 on multiple occasions. Interactions between the crisis onset (September 2008) and household income group, as well as the crisis onset and a >30% negative income change in connection to the crisis, were assessed with respect to risk of childhood over- and underweight. Adjusted for household and parental characteristics, boys and girls in the lower household income quartiles had a larger increase in risk of overweight after the crisis onset relative to their peers in the highest income group. (Odds ratio (95% confidence interval) for interaction term in boys=1.23 (1.02-1.24); girls=1.35 (1.23-1.49) comparing the lowest with the highest income group.) Among girls, an interaction between the crisis onset and a >30% negative change in household income with respect to risk of overweight was observed (odds ratio for interaction term=1.23 (1.09-1.38)). Girls from the highest income group had an increased risk of underweight after the crisis onset compared with girls from the lowest income group. Boys and girls from lower household income groups and girls from households experiencing a negative income change in connection to the global economic crisis in 2008, may be at increased risk of overweight. Vulnerability to economic uncertainty could increase risk of overweight in preadolescence.

  5. Did the Reduction of ICT Investment Due to the 2008 Economic Crisis Affect the Innovation Performance of Firms?

    OpenAIRE

    Spyros Arvanitis; Euripidis Loukis

    2015-01-01

    In this paper we investigate empirically, first, the characteristics of the firms that reduced their ICT investment due to the 2008 crisis, particularly the firms’ ICT-related characteristics in terms of ICT budget, skills and applications used. The analysis of the ICT characteristics that may influence the likelihood of having reduced ICT investment as a consequence of the crisis is primarily explorative, thus driven by available data and economic intuition. The second research question we e...

  6. The Economic Crisis in Greece and Its Impact on the Seasonality of Suicides in the Athens Greater Area.

    Science.gov (United States)

    Christodoulou, Christos; Efstathiou, Vasiliki; Michopoulos, Ioannis; Gkerekou, Maria; Paraschakis, Antonios; Koutsaftis, Filippos; Douzenis, Athanassios

    2017-01-01

    The economic crisis and the implementation of austerity measures in Greece lead to significant socioeconomic changes. The effects of the crisis were mainly felt by the Greek population during the years 2011 and 2012. This study aimed to investigate the impact of Greece's economic crisis on the seasonality of suicides in the Athens Greater Area. Data were collected for all recorded cases of suicides committed over a 5-year period (from 2008 to 2012) from the Athens Department of Forensic Medicine. Two sub-periods were studied in relation to the economic crisis: 2008-2010 and 2011-2012. Seasonality was estimated with the Poison regression variant of the circular normal distribution. Suicide seasonality appeared significant during 2008-2010 (relative risk, RR=1.36) and strengthened in the years 2011-2012 (RR=1.69), when the impact of the austerity measures was increasingly being felt by the Greek society. Regarding the latter sub-period, seasonality was established for males (RR=1.75), individuals aged 45 years or more (RR=1.75) and suicide by hanging (RR=1.96). The economic crisis in Greece, especially in the period during its effects had a significant impact on the population's economic condition, seems to have strengthened the seasonality of suicides, while a noteworthy suicide risk of 96% was revealed for suicides by hanging (peak in early June).

  7. The Economic Crisis in Greece and Its Impact on the Seasonality of Suicides in the Athens Greater Area

    Science.gov (United States)

    Efstathiou, Vasiliki; Michopoulos, Ioannis; Gkerekou, Maria; Paraschakis, Antonios; Koutsaftis, Filippos; Douzenis, Athanassios

    2017-01-01

    Objective The economic crisis and the implementation of austerity measures in Greece lead to significant socioeconomic changes. The effects of the crisis were mainly felt by the Greek population during the years 2011 and 2012. This study aimed to investigate the impact of Greece's economic crisis on the seasonality of suicides in the Athens Greater Area. Methods Data were collected for all recorded cases of suicides committed over a 5-year period (from 2008 to 2012) from the Athens Department of Forensic Medicine. Two sub-periods were studied in relation to the economic crisis: 2008–2010 and 2011–2012. Seasonality was estimated with the Poison regression variant of the circular normal distribution. Results Suicide seasonality appeared significant during 2008–2010 (relative risk, RR=1.36) and strengthened in the years 2011–2012 (RR=1.69), when the impact of the austerity measures was increasingly being felt by the Greek society. Regarding the latter sub-period, seasonality was established for males (RR=1.75), individuals aged 45 years or more (RR=1.75) and suicide by hanging (RR=1.96). Conclusion The economic crisis in Greece, especially in the period during its effects had a significant impact on the population's economic condition, seems to have strengthened the seasonality of suicides, while a noteworthy suicide risk of 96% was revealed for suicides by hanging (peak in early June). PMID:28096870

  8. UNEMPLOYMENT – AN ECONOMIC AND SOCIAL CURRENT PROBLEM

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    GABRIELA CORINA SLUSARIUC

    2011-01-01

    Full Text Available The economic crisis had recoiled on enterprises, families and citizens in all over the European Union. In Europe there are over 20 million unemployed people, and the situation has no perspective to improve. European cohesion policy helps European national and regional authorities fight together against unemployment. Accordingly, the Strategy Europe 2020 proposes a vision for the social market economy of Europe in the next decade and it’s based on three priority domains, which intersect and mutually stimulate: intelligent economic growth, development of an economy based on knowledge and innovation, durable economic growth, promotion of a competitive economy, with low carbon emissions and an efficient use of resources, also inclusive economic growth, promotion of an economy with a high level of labour force absorption which will generate social and territorial cohesion.

  9. Potential ramifications of the global economic crisis on human-mediated dispersal of marine non-indigenous species.

    Science.gov (United States)

    Floerl, Oliver; Coutts, Ashley

    2009-11-01

    The global economy is currently experiencing one of its biggest contractions on record. A sharp decline in global imports and exports since 2008 has affected global merchant vessel traffic, the principal mode of bulk commodity transport around the world. During the first quarter of 2009, 10% and 25% of global container and refrigerated vessels, respectively, were reported to be unemployed. A large proportion of these vessels are lying idle at anchor in the coastal waters of South East Asia, sometimes for periods of greater than 3 months. Whilst at anchor, the hulls of such vessels will develop diverse and extensive assemblages of marine biofouling species. Once back in service, these vessels are at risk of transporting higher-than-normal quantities of marine organisms between their respective global trading ports. We discuss the potential ramifications of the global economic crisis on the spread of marine non-indigenous species via global commercial shipping.

  10. The impact on chinese economic growth and energy consumption of the Global Financial Crisis: An input-output analysis

    Energy Technology Data Exchange (ETDEWEB)

    Yuan, Chaoqing; Liu, Sifeng; Xie, Naiming [Economics and Management College, Nanjing University of Aeronautics and Astronautics, Nanjing, 210016 (China)

    2010-04-15

    The dependence on foreign trade increased sharply in China, and therefore Chinese economy is obviously export-oriented. The Global Financial Crisis will impact the Chinese economic growth violently. Chinese government has recently adopted some effective measures to fight against the Global Financial Crisis. The most important measure is the 4 trillion Yuan ($586 billion) stimulus plan which was announced on November 9, 2008. This paper discusses the influence on energy consumption and economic growth of Global Financial Crisis and the stimulus plan against it by input-output analysis. The results show that the fall of exports caused by the Global Financial Crisis will lead to a decrease of 7.33% in GDP (Gross Domestic Production) and a reduction of 9.21% in energy consumption; the stimulus plan against the Global Financial Crisis will lead to an increase of 4.43% in economic growth and an increase of 1.83% in energy consumption; In the Global Financial Crisis, energy consumption per unit GDP will fall in China. (author)

  11. The Rationale of Crisis Management – On the Handling of Coincidence in Economic Situation

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    Peter Bendixen

    2010-07-01

    Full Text Available The subject of this essay is too complex a problem as to cover all details in depth and, thus, draws its attention only to core aspects of the handling of coincidence leaving out sophisticated studies and analytic findings as well as detailed reference to economic literature though there is not very much. On the other hand, for a lot of actual as well as general reasons, the subject is too important a matter as to ignore the serious methodological problems of crisis management, which are rooted in some politically still active bias hidden in orthodox neo-classical economics (Stiglitz 2010. If crisis management continues to follow traditional rationales, it will fail realizing the increasing dynamic of crises within the globalising economies of the world. No existing economy can be considered as an isolated system of its own embedded in a stable composition of societal surroundings. Obviously, many a critical situation has its origin in the sphere of civilization, of political discrepancies, and of administrative inflexibilities. On the other hand, any grave amplitude of markets would touch the entire social surrounding. The belief in the markets’ strength of self-regulation is a dangerous construction of orthodox economics (Bendixen 2009b, 2010. The view on crises suggested here is that of a holistic approach to understand a critical situation. Any interpretation of a situation includes empirical dates and figures based on analytic research, but solving a problem is not an act of logical derivation from findings, as if a solution can be excavated in the mud of reality by empirical studies only. Empirical figures report events of the past; the future does not reveal any empiricism. This would be a contradiction in itself. The end of a crisis as well as the search for solutions to fight the problems revealed is unavoidably a view into the future. Therefore, the rationale of crisis management cannot be made of pure empiricism but should include a

  12. CONSIDERATIONS ON THE IMPACT OF THE ECONOMIC CRISIS ON TURNOVER IN SERVICES

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    MARIAN ZAHARIA

    2014-05-01

    Full Text Available After a period of growth, the economic crisis triggered at the end of the last decade has had major implications on both economic developments as well as on the living standards of the population from most European countries. The services, tertiary sector of the economy, have declined both as the production services and services for the population. The paper presents the evolutions of turnover index and of labor input index in services during 2003 - 2012 in Romania and several Member States of the EU27. In Romania are analyzed the evolutions in some of the high-tech services activities compared to the evolution of the services as a whole. Also were being tested the correlations between total turnover index and total labor input index in services and, between turnover index and labor input index in telecommunications services during the same period.

  13. Impact of the east Asian economic crisis on health and health care: Malaysia's response.

    Science.gov (United States)

    Suleiman, A B; Lye, M S; Yon, R; Teoh, S C; Alias, M

    1998-01-01

    In the wake of the east Asian economic crisis, the health budget for the public sector in Malaysia was cut by 12%. The Ministry of Health responded swiftly with a series of broad-based and specific strategies. There was a careful examination of the operating expenditure and where possible measures were taken to minimise the effects of the budget constraints at the service interface. The MOH reprioritised the development of health projects. Important projects such as rural health projects and training facilities, and committed projects, were continued. In public health, population-based preventive and promotive activities were expected to experience some form of curtailment. There is a need to refocus priorities, maximise the utilisation of resources, and increase productivity at all levels and in all sectors, both public and private, in order to minimise the impact of the economic downturn on health.

  14. Reconsiderations of the Development and Governance Model after the Financial and Economic Crisis

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    Petre Prisecaru

    2011-01-01

    Full Text Available Financial crisis brought to the fore the fierce confrontation between Keynes disciples and Friedman disciples, between demand siders and supply siders, between Obama’s policies focused on economic growrh and EU austerity policies focused on deficit and debts reduction. Monetary policy showed its limits and neoliberal approach favored the risky products(derivatives and speculative activities. Supply siders, like David Harper, centred on three pillars: tax incentives, competition policy, enhancement of productive credit. Lisbon Strategy and Europe 2020 represent a supply side agenda based on sectoral policies. Great economists like Joseph Stiglitz and Paul Krugman have supported state interventionism and higher government spending for demand recovery and resuming the economic growth. Besides state interventionism one needs the urgent reconsideration of capitalist development model and strongly improving the governance at all levels: global, European, national, corporate.

  15. Public policies from economic and social crisis in the framework of emerging States and territories

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    Jahír Alexánder Gutiérrez Ossa

    2016-09-01

    Full Text Available The present article approaches two aspects of public policy. On the one hand, we have social emergence, the institutional and economic crisis in some Latin American countries, as well as its complex and systematic structure. On the other, it looks at the formulation and implementation of public policies, considered within the framework of the international crises of the states of emergency. Through a multi-criteria analysis, arguments related to the management capacity, and the results or work in different sectors are established. Then, using a process of design, the problem will be explained through a review of the economic, legal, political, and social arenas. Finally, the virtues of the public policies in transcendental or difficult situations that require their appearance or full presence will be evaluated.

  16. PERSPECTIVES OF INFLATION TARGETING, IN THE CURRENT ECONOMIC CONTEXT

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    COROIU SORINA IOANA

    2015-04-01

    Full Text Available In the context of economic crisis, monetary policy makers are facing a number of challenges, including the selection and implementation of the best monetary policy. In this paper, we want to see if inflation targeting is or is not a solution to exit the economic crisis. If the answer is positive, then what would be the optimal level of inflation? Many central banks target an inflation rate of 2%. In this paper we intend to show that, in certain circumstances, a very low level of inflation can significantly reduce the stabilizing effects of monetary policy. A slightly higher value of inflation targeting would reduce the constraints on monetary policy, caused by the appearance of liquidity trap. The risk for the interest rates of monetary policy to achieve zero level is related to the central banks’ choise of the appropriate inflation target. We believe that an increase in the inflation target of 2% to 4% would ease monetary policy constraints arising from the liquidity trap problem. If inflation targeting is not a solution to exit the crisis, then are there other strategies that would be a better alternative? Following this analysis, no obvious alternatives were identified, so far, there is no clear reason for that to abandon inflation targeting.

  17. Impact of the economic crisis on health-related behaviors in Italy.

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    Mattei, Giorgio; De Vogli, Roberto; Ferrari, Silvia; Pingani, Luca; Rigatelli, Marco; Galeazzi, Gian Maria

    2017-08-01

    Evidence exists supporting the impact of the Great Recession on health-related behaviors internationally, though few studies are available concerning the Italian population. To assess the impact of the late 2000s economic crisis on health-related behaviors linked to population mental health in Italy. Descriptive study. Health indicators came from the Italian Institute of Statistics database (years 2000-2015). Statistics performed by means of linear regression models. Increased smokers (β = 1.68, p = .03), heavy smokers, that is, people smoking 11-20 cigarettes per day (β = 2.18, p = .04) or more than 20 cigarettes per day (β = 1.04, p < .01) and mean number of smoked cigarettes per day (β = 0.56, p = .02) were noticeable. Also, prevalence of overweight increased (β = 0.91, p = .04), while the Italian families' expenditure for alcoholic beverages decreased (β = -812.80, p = .01). Alcohol consumption decreased (β = -0.60, p < .01), especially in men (β = -0.95, p < .01); binge drinking increased in years 2009-2010. No change was noticeable in the diet indicators collected. The economic crisis may have increased smoking, overweight and binge drinking in Italy (though data on the latter phenomenon are not conclusive), and reduced overall alcohol consumption.

  18. INNOVATIVE BEHAVIOR OF SMALL AND MEDIUM ENTERPRISES DURING THE ECONOMIC CRISIS

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    Alexandru, RUSEI

    2014-11-01

    Full Text Available Innovation is an area increasingly attractive to most companies. During and after the crisis, more and more companies are trying to expand their business horizons, to change the organization to discover new products and services in order to maintain operational status, and this can be done only through innovation. The business environment in Romania was heavily influenced by the global crisis in the period 2008-2013: entrepreneurship has become vulnerable due to uncertainty of the economic environment and many SMEs have left the market. In order to survive in these conditions, many companies have had to change the way have worked, and was one of the means innovation. The European Union has undertaken studies that examined this issue for each country, as well as comparisons with other countries. This paper identifies the empirical relationship between innovation (both technological and organizational one based on published outcomes of European Union-Directorate for Research and Innovation and SMEs in Romania results in this period. Hypothesis that released this paper is that innovation was one of the means by which companies remained in operation during the period 2008-2013. To verify this hypothesis, I will check the results of innovation indicators in Romania in the period 2008-2013 and will check which business organizations remain in operation during this period, based on my correlation between innovation, economic performance and entrepreneurial performance.

  19. [The Spanish economic crisis and its consequences on social spending. SESPAS report 2014].

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    López-Casasnovas, Guillem

    2014-06-01

    This article offers a brief summary of the factors that the author believes should be considered when analyzing the multiple interrelations between the economic crisis and its effects on public finances, social spending, and the health and welfare of Spaniards. For the sake of brevity, a linear argument is followed, with the basic contents of the message, leaving some of the more controversial issues whose interpretation may be heavily influenced by ideology to the discussion. The core of the argument is that, despite the double dip of the Spanish recession, healthcare has survived the consequences of the crisis fairly well. This is particularly the case when the situation is analyzed in terms of the share of public expenditure to GDP and in per capita terms, given the evolution of these ratios, although the final effect is unknown in terms of the actual and potential beneficiaries. This relatively low incidence so far on the health of Spaniards is basically due to family networks, pooling their incomes, and to the acceptance by Spanish health professionals of budget cuts, which have allowed services and their apparent quality to be maintained, contrasting with private employment and public finances. Obviously, this is not a guarantee of sustainability unless economic growth recovers. Even if the Spanish economy and public finances improve, the composition of health care delivery needs to be reevaluated to achieve a new allocation between public and private responsibilities for healthcare in accordance with the social development of the 21st century.

  20. On Clustering during and after Crisis as the Tool for Analyzing the Global Economic Architecture

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    Kobylianska Alla V.

    2017-03-01

    Full Text Available The article is aimed at analyzing the development of global economy from the viewpoint of formation of ideas of its aggregation by means of the cluster analysis. It is found that during 1995-2014 in the world there were about 20 countries which GDP in total amounted to 80% of the global GDP. According to these data Japan, the USA, Germany, China, and Brazil formed a kernel of global economy. Further results of the cluster analysis have allowed to draw conclusions that during the observation period the United States and the Russian Federation remained the main centrodes of global economy. Despite the crisis of 2008, integration of global economy continued, most notably from the viewpoint of monetary indicators. The subsequent researches should be concerned with studying the economic policy directed to the internal economic development, the external relations, and formation of global economic policy, as well as to analyzing economic relations between the identified centrodes and other countries. This will help to understand the reasons of the contemporary global economic integration and to prognosticate its development in the future.