WorldWideScience

Sample records for economic crisis impact

  1. 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.

  2. 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…

  3. ECONOMIC CRISIS IMPACT ON COUNTY ALBA HOTEL INDUSTRY

    Directory of Open Access Journals (Sweden)

    MOISA Claudia Olimpia

    2012-12-01

    Full Text Available The present paper, dominated by the global economic crisis effects is and continues to be a critical time for global tourism industry and for Romanian too. This study tries to play on a particular case, Park Hotel, located in Alba Iulia, the impact of this phenomenon over tourist hotel services.

  4. ECONOMIC CRISIS IMPACT ON COUNTY ALBA HOTEL INDUSTRY

    OpenAIRE

    MOISA Claudia Olimpia

    2012-01-01

    The present paper, dominated by the global economic crisis effects is and continues to be a critical time for global tourism industry and for Romanian too. This study tries to play on a particular case, Park Hotel, located in Alba Iulia, the impact of this phenomenon over tourist hotel services.

  5. The Impact of the Global Economic Crisis on Cambodia

    OpenAIRE

    Pisey Khin; Ryuta Ray Kato

    2010-01-01

    We numerically examine the impact of the global economic crisis on the Cambodian garment exports as well as its economy by using the conventional CGE model. A seminal aspect of the paper is that we have successfully estimated the curvature of the CET and CES production functions for the Cambodian economy, by using the time series regression method. One of our most striking results indicates that the welfare cost of the impact of the crisis at least reaches 281 million US dollars, thus resulti...

  6. THE IMPACT OF CULTURE ON THE ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    CARINA-ELENA STEGĂROIU

    2016-06-01

    Full Text Available This premise of this paper is based on the concept of hedonistic culture, which contributes to financial fragility, damages assessment of future capacity (generating investment myopia and short-termism and enhances current opportunism. The paper aims to analyze economic culture as a factor of influence on the global economic crisis, considering the culture of modern capitalism that should be defined as a hedonistic culture, and this culture can contribute to global economic crises. According to the hypothesis of this article, the economic culture and not the individuals underlie economic decisions. Accordingly, the decisions that are taken in the economy, influenced by the dominant culture can have both a positive impact on the economy or a destructive one by generating or maintaining economic crises. The current economic culture authorizes extensive use of loans, including those for consumption, thus generating financial fragility and consequently economic crisis. Hedonistic culture leads operators to focus almost entirely on short-term consequences of his actions to the detriment of long-term outcomes. It is this connection plays an important role in explaining current global crisis resistance. Opportunism emphasized as part of the hedonistic culture also affects the generation and maintenance of the global crisis and unethical behavior by refusing to invest in strategic areas for the economy. This is particularly the widespread use of credit, including the consumer, in preference to short-term investments at the expense of long-term, low appreciation of the future and also a high and growing opportunism. The global crisis is the result of interdependence agents, burdened by debt, especially short-term constantly growing which is a high financial fragility, directed almost exclusively at short-term gains and tend to cheat in their mutual relations.

  7. Impact of Global Economic Crisis on Technical and Vocational ...

    African Journals Online (AJOL)

    User

    2011-05-20

    May 20, 2011 ... factors, which also mutually interact with each other (Coombs, 1985). In Nigeria the global economic crisis (GEC) has led to depletion of stocks, ..... The Study of Instructional Communication Strategies in Nigerian Universities.

  8. 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.

  9. Impact of economic crisis on the intention to move house

    NARCIS (Netherlands)

    Dane, G.Z.; Grigolon, A.B.; Rasouli, S.; Timmermans, H.J.P.

    2016-01-01

    As a result of the economic crisis in 2008, the price of petrol, goods and agricultural products has rapidly increased and cities all over the world started to suffer from high levels of unemployment and lower business survival rates. Due to the economic downturn, the Dutch housing market also

  10. Impact of economic crisis on the intention to move house

    NARCIS (Netherlands)

    Dane, G.Z.; Grigolon, A.B.; Rasouli, S.; Timmermans, H.J.P.

    2014-01-01

    As a result of the economic crisis in 2008, the price of petrol, goods and agricultural products has rapidly increased and cities all over the world started to suffer from high levels of unemployment and lower business survival rates. Due to the economic downturn, the Dutch housing market also

  11. The Impact of the Tiananmen Crisis on China's Economic Transition

    OpenAIRE

    Naughton, Barry

    2011-01-01

    The social and economic model that emerged out of the Tiananmen crisis was profoundly different from that contemplated on the eve of Tiananmen. China made a firm transition to a high-input, high investment, high growth model of development. The broad but vague social consensus in favour of political and economic reforms that underlay the Tiananmen protests crumbled, while the economy boomed and some people became much better off. In the post- Tiananmen period a strong economic logic and a str...

  12. 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

  13. Impact of Global Economic Crisis on Technical and Vocational ...

    African Journals Online (AJOL)

    The study examined the relationship between global economic crisis (GEC) and inadequacy of facilities for administration of the Technical and. Vocational Education. The descriptive survey design with a random sample of 100 technical teachers from a population of 139 technical teachers in all six Technical Colleges in ...

  14. The impact of economic crisis on the Greek hospitals' productivity.

    Science.gov (United States)

    Mitropoulos, Panagiotis; Mitropoulos, Ioannis; Karanikas, Haralampos; Polyzos, Nikolaos

    2018-01-01

    During the recent economic crisis, Greece implemented a comprehensive reform in the health care system. The 2010 health reform occurred under the constraints imposed by the memorandum of understanding that the Greek Government signed with its EU/International Monetary Fund creditors to control its deficit. The objective of the study is to examine the impact of the reform on the efficiency and productivity of public hospitals in Greece. We use the Malmquist productivity index to comparatively examine the potential changes before and after the reform years. We compare productivity, efficiency, and technological changes using panel data of 111 public acute hospitals operating in Greece throughout the recession period of 2009 to 2012. Bootstrapping methods are applied to allow for uncertainty owing to sampling error and for statistical inference for the Malmquist productivity index and its decompositions. The analysis indicates that the productivity has been increased following the policy changes. It appears that the expected benefits from the reform in general have been achieved, at least in the short-term. This result is examined in the light of management and operations activities, which are related with the reform process. Therefore, at a second stage, the Malmquist index is regressed on variables that may potentially be statistically associated with productivity growth. Copyright © 2017 John Wiley & Sons, Ltd.

  15. 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.

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

    Directory of Open Access Journals (Sweden)

    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

  17. 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.

  18. 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...

  19. Where the financial and economic crisis does bite : Impact on the Least Developed Countries

    NARCIS (Netherlands)

    P.A.G. van Bergeijk (Peter)

    2012-01-01

    textabstractThis paper looks beyond the comparatively good performance of the large emerging economies that gave rise to the mainstream narrative of decoupling. I discuss the negative economic and social impacts of the financial and economic crisis on the Least Developed Countries that the

  20. The impact of financial and economic crisis on SME’s in Greece and Ireland

    Directory of Open Access Journals (Sweden)

    Lubor Lacina

    2013-01-01

    Full Text Available The impact of financial and economic crisis influencing economic development in EU countries is analysed predominately on macroeconomic level. Major part of economic studies analyse the effect of crisis on both real and potential economic growth, unemployment, inflation and debt dynamic. However the effects of the crisis are visible also at microeconomic level. The economic results of businesses are significantly influenced by the negative macroeconomic development at both national and international level. Both decrease in potential growth and purchasing power due to economic recession and more restrictive fiscal policy have a direct impact on aggregate demand and thus the microeconomic sector as whole. Additional source of problems is connected with banking sector crisis and the access to financing mainly for small and medium-sized enterprises (SME’s. The aim of the paper is to fill the gap in economic research and to analyse the impact of the ongoing crisis on business entities in selected eurozone member countries. Authors selected two eurozone member countries from EU periphery (Greece and Ireland. Both countries are severely hit by economic crisis and authors suppose that also their business sector will be significantly influenced. However author believes that the structural differences will lead over the time in faster recovery of Irish businesses in contrast to the Greek one.We create dataset using Amadeus database which contains the harmonized data about statistically significant set of business in selected countries. Authors then sorting the data according selected variables such as size of the company, NACE categorization and comparative indicators of individual business economic performance, namely representatives of indicators groups profitability, solvency, liquidity and indebtedness/financial structure of business entities. For the purpose of analysis authors analyse the data series three years before the crisis (2005, 2006 and

  1. 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.

  2. The impact of regional autonomy and monetary crisis on economic growth in Yogyakarta

    Directory of Open Access Journals (Sweden)

    Sarastri Mumpuni Ruchba

    2015-04-01

    Full Text Available This study analyzes the impact of some factors, especially the implementation of autonomy and monetary crisis on economic growth in Yogyakarta Special Province. The independent variables entered into the model are investment, labor force and government spending, as well as two dummy variables, namely the financial crisis and the 1990-2013 regional autonomy implementations. This study uses multiple linear regression analysis with Ordinary Least Square (OLS. This study finds that investment and regional autonomy do not affect the economic growth in Yogyakarta, while labor force and monetary crisis negatively affect economic growth. The study also finds that government spending has a positive influence on economic growth.

  3. Economic crisis: prelude to an energetic crisis?

    International Nuclear Information System (INIS)

    Chevallier, B.

    2009-01-01

    Recession due to the financial crisis of 2008 has stopped the world economic development and the hydrocarbons sector too. Collapse of prices, cancellation of investments, reach of a 'peak demand', the four speeches which are given here, describe these impacts and their consequences; but in scrutinizing the incentives of the crisis, they show the new role of petroleum: pretext value against the weakness of dollar and the inflation risks, speculative value for the investment funds. (O.M.)

  4. 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,

  5. The economic and financial crisis: impacts on energy balances and prices

    International Nuclear Information System (INIS)

    Hyafil, Antoine

    2009-01-01

    The current economic crisis finds its origin in the existence of a global market for human capital, without unified prices: the development of a debt economy in Western countries can be regarded as an attempt to maintain economic growth in spite of the resulting pressure on labor wages. While the sub-prime crisis has shown the limits of such an attempt, the author believes that debt driven economic growth will continue to prevail in Western countries until price imbalances on the global market for human capital are resolved. This probably implies a substitution of public to private debt, and of private consumption to public investment with the resulting implications on public deficits, supply and demand, and relative prices. Energy prices will be sensitive to public spending's both mechanical impact on economic growth and qualitative impact on energy efficiency

  6. The impact of the 2008 economic crisis on the increasing number of young psychiatric inpatients.

    Science.gov (United States)

    Medel-Herrero, Alvaro; Gomez-Beneyto, Manuel

    2017-11-21

    Little is published about the impact of the 2008 economic crisis on mental health services in Spain. An interrupted time series analysis was conducted to investigate a potential short-term association between the 2008 economic crisis and the number of psychiatric hospital admissions. The timing of the intervention (April 2008) was based on observed changes in Gross Domestic Product (GDP). Data on 1,152,880 psychiatric inpatients from the national Hospital Morbidity Survey, 69 months before and after the onset of the economic crisis (April 2008), were analyzed. Age-adjusted psychiatric (ICD9 290-319) hospital discharge rates significantly increased from April 2008, matching the onset of the crisis, especially for inpatients aged 15-24 years old and to a less extend for inpatients aged 25-34 years old. Other age groups were not affected. There was a significant increase in diagnoses for disturbance of conduct and emotions, depression, neurotic and personality disorders and alcohol and drug disorders; however, diagnoses for mental retardation and organic psychosis for 15-34 years old inpatients were unaffected. Psychiatric hospital admissions abruptly increased in April 2008, coinciding with the onset of the economic crisis. We identified age groups and diagnoses affected. Increased hospitalizations were found only at the age-ranges most affected by the rise in unemployment. The diagnoses affected were those most sensitive to environmental changes. Copyright © 2017 SEP y SEPB. Publicado por Elsevier España, S.L.U. All rights reserved.

  7. Economic stress in the workplace: The impact of fear of the crisis on mental health.

    Science.gov (United States)

    Giorgi, Gabriele; Arcangeli, Giulio; Mucci, Nicola; Cupelli, Vincenzo

    2015-01-01

    Since 2008, a deep financial crisis, which started in the United States, has widely spread around the world. Scientists expressed their worry about this crisis by pointing out that potential negative health effects can be created by collective fear and panic. The main purpose of this cross-sectional study on the fear of the crisis has been to examine its impact on mental health through the use of structural equation modeling. In the trial a new model of economic stress we were also interested in identifying if fear of the crisis has an indirect relationship with employees' health (e.g. related to a poor social support or to work-related stress). Furthermore, this study aimed to examine whether a full or a partial mediation model best fits the data. Data collection took place between 2010 and 2011. During this period several private organizations that comprised of 1236 employees participated in the study. It was found that social support and job stress fully mediated the relationship between fear of the crisis and health, with all fit indices meeting their respective criteria, and with all path coefficients being significant. Implications for discussion of the crisis among employees were presented. In conclusion, fear of the crisis appeared to be an important innovative construct for organizational wellbeing.

  8. 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.

  9. [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.

  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. Emission abatement: Untangling the impacts of the EU ETS and the economic crisis

    International Nuclear Information System (INIS)

    Bel, Germà; Joseph, Stephan

    2015-01-01

    In this study we use historical emission data from installations under the European Union Emissions Trading System (EU ETS) to evaluate the impact of this policy on greenhouse gas emissions during the first two trading phases (2005–2012). As such the analysis seeks to disentangle two causes of emission abatement: that attributable to the EU ETS and that attributable to the economic crisis that hit the EU in 2008/09. To do so, we use a dynamic panel data approach. Our results suggest that, by far, the biggest share of abatement was attributable to the effects of the economic crisis. This finding has serious implications for future policy adjustments affecting core elements of the EU ETS, including the distribution of EU emission allowances. - Highlights: • We untangle the effects of the EU ETS from those of the economic crisis on industrial emission abatement. • The empirical analysis uses verified emission data instead of estimated emission data. • Abatement of emissions in EU in the last years has been mainly due to the impact of the economic crisis. • Low level of abatement attributable to the EU ETS suggests that important changes must be made in environmental policy

  12. The impacts of the global economic crisis on selected segments of the world trade in commodities

    Directory of Open Access Journals (Sweden)

    Elena Horská

    2012-01-01

    Full Text Available This paper deals with the impacts of the economic crisis on the world trade in order to highlight the mutual interdependence of the development of the world output and trade. The paper observes mutual correlation in development of the world trade and output. The results of the analysis indicate that changes in the value of world GDP and world trade are correlated by more than 90%. It is important to mention that in the years 2000–2009, the value of world trade and world output increased significantly (although in 2009, a significant decline in both value and volume of global production and trade was recorded due to the crisis. In relation to the world trade, it should be noted that its commodity structure is dominated by trade in manufactures. The crisis that occurred in the period 2008–2009 greatly affected the world economy and trade in particular. In this respect it should be pointed out that the crisis mainly affected trade in manufactures and then trade in fuels and mining outputs in terms of both absolute and relative indicators. Agrarian trade dealt with the crisis the best and the impact of the crisis on development of its values and volume was the least significant. This verifies the fact that agrarian and food products tend to be the most resistant to the crisis (on contrary, in times of global economic growth or reconstruction, the trade in agrarian and food products shows lower degree of elasticity in relation to the global GDP growth in comparison to other segments of commodities trade.

  13. 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.

  14. THE IMPACT OF THE ECONOMIC CRISIS ON CREDIT INSURANCE

    Directory of Open Access Journals (Sweden)

    Vaidean Viorela-Ligia

    2010-07-01

    Full Text Available The insurance domain is one of the most complex and extensive areas of the market. However this field is very risk exposed especially in this period of economic instability. One of the most non-performant insurance products at this time is the credit insurance. Due to inability to pay and increasing bad loans, insurance companies have decided to remove these products from their portfolio. We believe that the signs that led to this situation have been very visible for a long time, but the insurance market players refused to give too much importance to them because they based their operations on the artificial strength of the whole system. In this paper we want to show how things have evolved on the credit insurance market as compared to the general insurance market, and if the present situation could have been anticipated and avoided.

  15. 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.

  16. The New Environment of EU Enlargement: The Impact of Economic Crisis on the Western Balkans and their EU Accession Prospects

    OpenAIRE

    Ritsa Panagiotou

    2014-01-01

    This paper will explore the impact of the economic crisis on the Western Balkan countries, and how the new, unfavorable international environment is affecting their EU accession prospects. The analysis will be presented in three sections: the first part will examine the effect of the “first wave” of the global economic crisis on the economies of the region, specifically the impact on the region’s macroeconomic indicators, foreign direct investment flows, financial sectors, etc. Part two...

  17. 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.

  18. 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.

  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. Measuring the Impact of Economic Crisis to the Greek Vehicle Market

    Directory of Open Access Journals (Sweden)

    Evanthia A. Nanaki

    2018-02-01

    Full Text Available The fallout of the global economic crisis has impacted Greece severely as the austerity measures that were implemented since 2009 have had a devastating effect on poverty and the level of living. The financial agreement of the Greek government with the International Monetary Fund (IMF gave rise to a deep recession phase in the Greek market that started in early 2008. The automobile industry is among the sectors that have been severely affected by the economic crisis. Given that the demand for cars fell sharply and that the Greek car market is facing serious problems, mapping and understanding them can provide useful input to the Greek vehicle market. Regression analysis is being employed, and the interrelations of different variables, such as net disposable income, unemployment rate, fuel prices, the Greek crisis, loans directed to the vehicle market, as well as the inflation rate for the period of 2000–2016, are investigated. Analyzing the factors affecting car sales can provide policy-makers with knowledge in order to take legislative and economic measures, so as to boost sales of new environmental friendly vehicles not only in Greece, but in all EU states.

  1. 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.

  2. THE IMPACT OF ECONOMIC CRISIS ON STABILITY AND QUALITY OF INTIMATE RELATIONSHIP

    Directory of Open Access Journals (Sweden)

    Maja Kus Ambroz

    2015-05-01

    Full Text Available In this article, we developed a model based on the insight into different theories and empirical studies about inpact of economic crisis on intimate relationship. With the economic crisis, the behaviour of individual in a relationship also changed. Increased stress is one of the reactions of individual to the crisis, and this directly or indirectly influences his or her intimate relationship. That impact is manifested as a factor of the decrease of stability and quality of such relationship. As a starting point, we took the fact that the individual in developed western societies is adapted to the mainstream of so-called consumer society, which discourages him or her to strive for the intimate relationship, and the purpose of such relationship is the preservation of family. On the contrary, this encourages individual's selfish principle to satisfy his or her comfort and convenience. We were mainly interested in the individual's reaction to this phenomenon. Based on these findings, we developed the “intimate relationship stress model” (IRSM, which could be used in further empirical studies and psychotherapy practices.

  3. Impact of Economic Crisis to Family Planning Realination on Poor Household in Banjarsari District, Surakarta

    Directory of Open Access Journals (Sweden)

    Wahyuni Apri Astuti

    2016-07-01

    Full Text Available This study is carried out in Nusukan, Banjarsari, Surakarta. The problems that are related to economic crisis in Indonesia are the supply of contraception, the weakening of people purchasing power so they influence the realization of family planning program. The goals of the study are: to know the supply of contraception for poor household, to study the influence of the effect of economic crisis for the participant of family planning, to study the change of birth control and its effective strategy and to know the quality of family planning service. The data are collected using observation, and questionnaire. The study takes the area in which it has more productive couple, the percentage of poor families and the prosperous families I that belong to productive couple whose age 20 to 49 years old, at least they have two children, and participant of family planning or ever followed it. The result of the study shows that 82% respondents can get contraception easily before and at economic crisis. It is one of the important factors, for which the participant of family planning is still high. Although the economic crisis influences the price of contraception and family Income, it does not affect the participant of family planning. 87% respondents participate actively the family planning. This shows that the people have realized the importance of family planning program. There is an impact of economic crisis for the change of the ways of birth control. 38% respondents have changed over their strategy from modern to traditional contraception and the contrary, and from modern contraception to the other one. Some of them are abstention. The level of the people adaptation is high enough. They use various ways to prevent of being pregnant. 92% respondents do not want to be pregnant. If it happens an unwanted pregnancy, 15% of the respondents will abort their pregnancy. This is the challenge for the officers and the government to supply safe and accurate

  4. Companies’ management during economic crisis

    OpenAIRE

    Kumpikaitė, Vilmantė; Grybauskas, Andrius; Juodelis, Mantas; Strumyla, Dovydas

    2011-01-01

    Lots of companies faced recent economic crisis. It was generated by global markets deregulation and it triggered relevant situation to emerge other types of crisis. Many scientists all over the world analyses how crisis affected global economy and changed companies’ management actions. Scientists exclude these types of crisis: economic, informational, physical, human resource, reputational, psychopathic acts production and financial. This paper examines economic crisis generated negative effe...

  5. Understanding the impact of the economic crisis on child health: the case of Spain.

    Science.gov (United States)

    Rajmil, Luis; Siddiqi, Arjumand; Taylor-Robinson, David; Spencer, Nick

    2015-10-14

    The objectives of the study were to explore the effect of the economic crisis on child health using Spain as a case study, and to document and assess the policies implemented in response to the crisis in this context. Serial cross-sectional data from Eurostat, the Spanish Health Interview Survey, and the database of childhood hospitalisation were analysed to explore impacts on child health, and key determinants of child health. A content analysis of National data sources/government legislation, and Spanish literature was used to describe policies implemented following the crisis. Unemployment rates in the general population (8.7% in 2005 and 25.6% in 2013), and children living in unemployed families (5.6% and 13.8%) increased in the study period. The percentage of children living under the poverty line, and income inequalities increased 15-20% from 2005 to 2012. Severe material deprivation rate has worsened in families with Primary Education, while the number of families attending Non-Governmental Organisations has increased. An impact on children's health at the general population level has not currently been detected; however an impact on general health, mental health and use of healthcare services was found in vulnerable groups. Investment in social protection and public policy for children showed a reduction as part of austerity measures taken by the Spanish governments. Despite the impact on social determinants, a short-term impact on child health has been detected only in specific vulnerable groups. The findings suggest the need to urgently protect vulnerable groups of children from the impact of austerity.

  6. Impact of Economic Crisis on Business to the Franchise System in Romania

    OpenAIRE

    Parpandel Denisa Elena; Gãnescu Cristina; Codreanu Diana Elena

    2011-01-01

    Given the national context, but also international economic crisis, businesses are seeking the highest returns. Why would a business franchise win a bet? Because franchising is the most dynamic and powerful method practiced for business development and economic opportunity and the franchisee has the opportunity to become its own franchise architect of the scheme and detailed plan of procedures. Franchising remains a good recipe for business and crisis. What have changed because of economic di...

  7. 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.

  8. Global economic and financial crisis: Exploring the transmission channels and impacts on sub-saharan african economies

    Directory of Open Access Journals (Sweden)

    Sin-Yu Ho

    2016-12-01

    Full Text Available Over the past decade sub-Saharan African countries have made remarkable gains in promoting growth alongside economic stability. However, with the outbreak of the financial and economic crisis in advanced economies, will these hard-won economic gains in the region be threatened? In this paper, we seek to provide an overview of how sub-Saharan African countries are exposed to the crisis through both financial and real transmission channels, and to critically assess the impact of the crisis on different economies. To accomplish this task, we first provide an overview of the recent economic development of sub-Saharan African countries, and a brief discussion of the sources and the development of the crisis. We then proceed to explore the direct financial transmission channels of the crisis and their impacts on sub-Saharan African countries. In addition, we explore the indirect real transmission channels of the crisis and how the sub-Saharan African economies are impacted by them. Thereafter, we identify a couple of policy implications

  9. GLOBALIZATION AND ECONOMIC CRISIS IN EUROPEAN COUNTRIES

    Directory of Open Access Journals (Sweden)

    Silvia Marginean

    2011-01-01

    Full Text Available The paper analyzes the relation between degree of economic globalization and the impact of economic crisis for developed and emerging European countries. We measure economic globalization through indexes based on share of external trade in GDP and FDI intensity (% of FDI inflows and outflows divided by GDP. The complexity of current economic and financial crisis could be evaluated through GDP growth rate, inflation rate, unemployment, public debt, budget deficit, balance of payments, exchange rate, etc. For the purpose of this paper we used GDP growth rate as a measure of economic crisis impact on national economies.

  10. ECONOMIC CRISIS AND ECONOMIC DISPARITIES IN EUROPEAN UNION

    Directory of Open Access Journals (Sweden)

    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.

  11. The New Environment of EU Enlargement: The Impact of Economic Crisis on the Western Balkans and their EU Accession Prospects

    Directory of Open Access Journals (Sweden)

    Ritsa Panagiotou

    2014-05-01

    Full Text Available This paper will explore the impact of the economic crisis on the Western Balkan countries, and how the new, unfavorable international environment is affecting their EU accession prospects. The analysis will be presented in three sections: the first part will examine the effect of the “first wave” of the global economic crisis on the economies of the region, specifically the impact on the region’s macroeconomic indicators, foreign direct investment flows, financial sectors, etc. Part two will analyse the repercussions of the “second wave” of the crisis, namely the Greek sovereign debt crisis, which rapidly spilled over into the entire Eurozone. Part three will build on the issues examined in parts one and two and will discuss the repercussions of both waves of the crisis on the region’s enlargement process and prospects. The paper will also propose that although the EU’s role in Southeast Europe remains crucial (not least as a provider of economic assistance its hitherto undisputable symbolic role as an “anchor” of stability and as a goal to be aspired to may be losing its appeal for some of these countries. This paper will explore the impact of the economic crisis on the Western Balkan countries, and how the new, unfavorable international environment is affecting their EU accession prospects. The analysis will be presented in three sections: the first part will examine the effect of the “first wave” of the global economic crisis on the economies of the region, specifically the impact on the region’s macroeconomic indicators, foreign direct investment flows, financial sectors, etc. Part two will analyse the repercussions of the “second wave” of the crisis, namely the Greek sovereign debt crisis, which rapidly spilled over into the entire Eurozone. Part three will build on the issues examined in parts one and two and will discuss the repercussions of both waves of the crisis on the region’s enlargement process and

  12. Impact of the economic crisis on the roadworthiness of vehicles in the Republic of Croatia

    Directory of Open Access Journals (Sweden)

    Stipe BILIĆ

    2015-06-01

    Full Text Available The impact of the economic crisis, i.e. the decrease in purchasing power in the Republic of Croatia, has been reflected negatively on the sales of new road vehicles and the maintenance plan of used road vehicles. A comparison of the results of technical inspections on vehicle roadworthiness has indicated a slight increase in unroadworthy vehicles, with a tendency for this to increase. Unroadworthiness and the average age of vehicles amounting to 12.18 years prompt for thinking about road safety in the Republic of Croatia. This paper aims to establish the extent of the increase in vehicle unroadworthiness and the importance of its reduction in order to increase road safety. The Republic of Croatia has adopted the National Road Safety Program for 2011-2020, accepting thereby a task that will be difficult to accomplish without organising training on the importance of vehicle roadworthiness.

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

    Directory of Open Access Journals (Sweden)

    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.

  14. The impact on chinese economic growth and energy consumption of the Global Financial Crisis: An input-output analysis

    International Nuclear Information System (INIS)

    Yuan, Chaoqing; Liu, Sifeng; Xie, Naiming

    2010-01-01

    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)

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

    OpenAIRE

    Sabina Tuca

    2013-01-01

    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, t...

  16. The impact of the global economic crisis on HIV and AIDS ...

    African Journals Online (AJOL)

    This investigation sought to ascertain the extent to which the global economic crisis of 2008–2009 affected the delivery of HIV/AIDS-related services directed at pregnant and lactating mothers, children living with HIV and children orphaned through HIV in Zambia. Using a combined macroeconomic analysis and a multiple ...

  17. THE IMPACT OF THE FINANCIAL AND ECONOMIC CRISIS ON THE EVOLUTION AND STRUCTURE OF UNEMPLOYMENT IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Lazăr Mirela

    2013-06-01

    Full Text Available Unemployment represents one of the economic and social phenomena highly sensitive to changes in the dynamics and structure of the national economy. The impact of the financial crisis, triggered at the end of 2008, had dramatic consequences also on the Romanian economy, which was still fragile and quickly responded as a restriction, a retreat, both preventively and curatively. Negative evolutions occurred in the immediate future in all areas, both economic and social, for many economic operators unemployment representing one of the alternatives to "mitigate" the effects of the crisis. In this context, the paper approaches a series of theoretical aspects related to determining the unemployment indicators and presents the evolution of the main field indicators, in Romania, after 2008, to highlight the negative influence of the global financial and economical crisis. Thus, the analysis of unemployment in Romania after 2008, the year that marked the beginning of the financial crisis, showed a rapid and significant increase of it, at least in 2009, illustrating this thorough the immediate reaction the significant impact of the crisis on the Romanian economy. Although the years 2010 and 2012 showed a slight easing of the situation, the beginning of 2013, as a consequence of the deepening financial problems and of a particularly tense global climate, marked a new period of rising unemployment. Recourse to unemployment, as a result and in response to the financial crisis is a measure which, although apparently has a preventive character of bankruptcy, it will surely not give positive results in the future. It is just a postponement of it, which will ultimately lead to the drastic compression of the activity, to the collapse.

  18. THE MOTIVATION OF MAN TO WORK: IMPACT OF THE GLOBAL ECONOMIC CRISIS STUDY

    Directory of Open Access Journals (Sweden)

    Felipe Carvalho F. Nars

    2013-06-01

    compared to 2007 and 2008. From this result, we applied two methodsof qualitative analysis (exploratory data analysis and discourse analysis, in order to verify the possibleinfluence of global economic crisis on this result. Qualitative results show seven points of attention, fiveof which had higher negative change between 2008 and 2009 and only two showed positive growthbetween 2008 and 2009. In addition to these points of attention, the qualitative analysis according tothe speech of employees identified some actions taken by companies about leadership, communicationand maintenance of morale, corroborating the theory presented. The study’s findings point to the fallinglevels of ‘Satisfaction and Motivation’ in 2009 and the efforts of management focused on overcoming thecrisis. Some practical recommendations are submitted to the HR community, so that in times of economicturbulence they might be applied in order to mitigate potential negative impacts explained by research.

  19. THE ECONOMIC CRISIS IMPACT ON PUBLIC EXPENDITURES IN EU NEW MEMBER STATES

    Directory of Open Access Journals (Sweden)

    Sabau-Popa Diana Claudia

    2012-07-01

    Full Text Available This article analyzes the main trends of public expenditures in the New Member States 12 in the last decade. We develop a synthetic analysis of the total public expenditures and also an analytical inquiry of major categories of public expenditures according to COFOG. Based on data provided by Eurostat from 2000 to 2010 we try to capture the impact of global financial crisis on the major trends of the public expenditures for new member states. Our purpose is to reveal a global view of the state of public expenditures in this group of EU countries and also we try to make a comparison between Romania and these countries considering that the stance of public finance is quite similar to the new member states. The major findings of this study are the high increase of the public expenditures for all the countries especially in 2009, due to a huge increase of the social protection expenditures. In this context we underline some correlations between the public expenditures evolution and economic growth.

  20. [The impact of the economic crisis on the health and healthcare of the immigrant population. SESPAS report 2014].

    Science.gov (United States)

    Vázquez, María Luisa; Vargas, Ingrid; Aller, Marta-Beatriz

    2014-06-01

    Despite the economic crisis, the immigrant population of Spain continues to be high, with 5.7 million persons (11.4%). This population, whose health needs are similar to those of the general population, is more vulnerable due to their exposure to worse social determinants (living and working conditions together with a higher risk of exclusion from social services). In this article, we analyze how the economic crisis affects or can affect the health of the immigrant population in Spain by examining distinct population-specific or institutional factors that influence the effects of the crisis and the available data. The available evidence is limited, but several effects can be identified: firstly, some social determinants, such as higher unemployment rates and worse working conditions, have deteriorated, which can be expected to lead to a worsening of health status. These consequences have already been described for mental health or have been estimated for infectious diseases. Secondly, political decisions have had a direct impact, excluding-with some exceptions-undocumented immigrants from the right to health care. Finally, the lower priority given to adapting health services to the specific characteristics of the immigrant population (most of whom are documented) together with the introduction of new barriers, has hampered or will hamper access to health care. As a result, the economic crisis can be expected to have a greater impact on the immigrant population. Copyright © 2013 SESPAS. Published by Elsevier Espana. All rights reserved.

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

    Directory of Open Access Journals (Sweden)

    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.

  2. IMPACT OF ECONOMIC CRISIS ON WOOD MARKETS (CONSUMPTION, PRODUCTION AND TRADE)

    OpenAIRE

    Maria‐Loredana POPESCU; Antoniu PREDESCU; Mihaela‐Diana OANCEA‐NEGESCU

    2013-01-01

    Global economic crisis represents one of the causes why wood consumption is increasing especially in countries less developed. In countries where governments couldn’t improve the quality of life and unemployment rate is higher, local communities devastate a lot of forestry. In last thirty years we saw a deforestation process at the global level related to land being converted to other uses: agriculture and urbanization, which represent a positive trend of a negative use. The stati...

  3. IMPACT OF ECONOMIC CRISIS ON WOOD MARKETS (CONSUMPTION, PRODUCTION AND TRADE)

    OpenAIRE

    Maria-Loredana POPESCU; Antoniu PREDESCU

    2013-01-01

    Global economic crisis represents one of the causes why wood consumption is increasing especially in countries less developed. In countries where governments couldn’t improve the quality of life and unemployment rate is higher, local communities devastate a lot of forestry. In last thirty years we saw a deforestation process at the global level related to land being converted to other uses: agriculture and urbanization, which represent a positive trend of a negative use. The statistics reveal...

  4. Decline and depression: the impact of the global economic crisis on housing markets in two post-socialist states

    Czech Academy of Sciences Publication Activity Database

    Hegedüs, J.; Lux, Martin; Sunega, Petr

    2011-01-01

    Roč. 26, č. 3 (2011), s. 315-333 ISSN 1566-4910 R&D Projects: GA ČR GA403/09/1915 Institutional research plan: CEZ:AV0Z70280505 Keywords : Economic crisis * Housing system * Transition economies Subject RIV: AO - Sociology, Demography Impact factor: 0.577, year: 2011 http://www.springerlink.com/content/q302667308q1/

  5. Impact of economic crisis on the social representation of mental health: Analysis of a decade of newspaper coverage.

    Science.gov (United States)

    Dias Neto, David; Figueiras, Maria João; Campos, Sónia; Tavares, Patrícia

    2017-12-01

    Mass media plays a fundamental role in how communities understand mental health and its treatment. However, the effect of major events such as economic crises on the depiction of mental health is still unclear. This study aimed at analyzing representations of mental health and its treatment and the impact of the 2008 economic crisis. In total, 1,000 articles were randomly selected from two newspapers from a period before and after the economic crisis. These articles were analyzed with a closed coding system that classified the news as good or bad news according to the presence of themes associated with positive or stigmatizing representations. The results show a positive representation of mental health and a negative representation of treatment. Furthermore, the economic crisis had a negative impact on the representation of mental health, but not on treatment. These findings suggest that the representation of mental health is multifaceted and may be affected differently in its dimensions. There is a need for stigma-reducing interventions that both account for this complexity and are sensitive to context and period.

  6. The impact of the economic crisis on Italian young people’s everyday life

    Directory of Open Access Journals (Sweden)

    Ariela Mortara

    2015-12-01

    Full Text Available In Italy, the economic crisis of the last years has been characterized by recession, deflation, and unemployment. In addition to its broader effect on society, the crisis has deeply affected Italians’!everyday practices, their views, and their future goals. This is particularly true for young people, who can no longer rely on rising expectations. The paper presents the preliminary results of a qualitative study aimed at understanding how young people perceive and handle their everyday life in a social and working context so heavily influenced by income uncertainty, job insecurity, and a general lack of confidence in the future. Face-to-face in-depth interviews have been conducted in the metropolitan area of Milan (Italy.

  7. 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

  8. Socioeconomic status and impact of the economic crisis on dietary habits in Italy: results from the INHES study.

    Science.gov (United States)

    Bonaccio, Marialaura; Di Castelnuovo, Augusto; Bonanni, Americo; Costanzo, Simona; Persichillo, Mariarosaria; Cerletti, Chiara; Donati, Maria Benedetta; de Gaetano, Giovanni; Iacoviello, Licia

    2017-11-08

    There is lack of evidence about the likely impact of the economic crisis on dietary habits in Western societies. We aimed to assess dietary modifications that possibly occurred during the recession and to investigate major socioeconomic factors associated with such modifications. Cross-sectional analysis on 1829 subjects from the general population recruited in the larger INHES study (n = 9319) a telephone-based survey on nutrition and health conducted in Italy from 2010 to 2013. Association of socioeconomic (education, household income, occupation) with self-reported impact of the economic crisis on dietary habits was tested by multivariable logistic regression analysis. Low-educated subjects (OR = 2.30; 95% CI: 1.39-3.80), those with poor income (OR = 5.71; 95% CI: 3.68-8.85), and unemployed (OR = 3.93; 95% CI: 1.62-9.56) had higher odds of reporting undesirable dietary changes due to recession. Adherence to the Mediterranean diet was lower in subjects reporting a negative impact of the crisis on diet as compared to those declaring no effect, whereas the quality of grocery items was higher in the latter. Undesirable dietary changes due to the economic crisis were mainly reported by lower socioeconomic groups. Subjects perceiving a negative impact of the recession on their diet also showed a lower adherence to Mediterranean diet and reduced quality of grocery products. © The Author 2017. Published by Oxford University Press on behalf of Faculty of Public Health. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com

  9. THE IMPACT OF THE ECONOMIC CRISIS ON THE POPULATION’S CONSUMPTION IN ROMANIA, IN THE 2009-2013 PERIOD

    Directory of Open Access Journals (Sweden)

    BÂLDAN FLORENTINA CRISTINA

    2016-02-01

    Full Text Available The paper “The impact of the economic crisis on population’s consumption in Romania, in the 2009-2013 period” analyses an important phenomenon for Romania’s economy, consumption. The economic and financial crisis determined a change in the income distribution towards the products and services necessary for everyday life. The most influential stimulus at which consumers decide to buy a product is price, and they migrate towards product segments with low prices, while the quality of life is on a downtrend. Consequently, the objective of this paper is to analyse the factors that influence Romanian consumers’ behaviour in the context of the economic crisis in the 2009- 2013 period. The level of food consumption largely depends on the macroeconomic policies, which through the numerous levers influence the population’s consumption behaviour. Out of these levers, we are mentioning the income policy, the credit policy, the monetary policy, the currency policy, the welfare policies, etc. In addition to the economic aspects, population’s consumption also depends on other factors, variables, such as, for example: social variables (degree of urbanization, endowment with infrastructure of the rural area, access to information, access to medical assistance and medical services, etc., demographic variables (level of education, employment rate of the population, degree of population ageing, migration flows, etc., and other variables (geographic location, religion, dietary habits, individual preferences.

  10. Impact of the global economic crisis on metal levels in particulate matter (PM) at an urban area in the Cantabria Region (Northern Spain)

    International Nuclear Information System (INIS)

    Arruti, A.; Fernandez-Olmo, I.; Irabien, A.

    2011-01-01

    Air pollution by particulate matter is well linked with anthropogenic activities; the global economic crisis that broke out in the last year may be a proper indicator of this close relationship. Some economic indicators show the regional effects of the crisis on the Cantabria Region. The present work aims to evaluate the impact of the economic crisis on PM10 levels and composition at the major city of the region, Santander. Some metals linked to anthropogenic activities were measured at Santander and studied by Positive Matrix Factorization; this statistical analysis allowed to identify three main factors: urban background, industrial and molybdenum-related factor. The main results show that the temporal trend of the levels of the industrial tracers found in the present study are well agree with the evolution of the studied economic indicators; nevertheless, the urban background tracers and PM10 concentration levels are not well correlated with the studied economic indicators. - Highlights: → The impact of the crisis is higher on the PM-bound metal levels than on the PM levels. → The crisis effects on the trace metal associated to the urban background are negligible. → The temporal trend of the industrial trace metals levels and the studied economic indicators is similar. → The crisis effects on the main industrial tracer levels in PM2.5 and PM10 are similar. - The study presents an evaluation of the economic crisis impact on PM levels and composition at a coastal urban area in the Region of Cantabria (Northern Spain).

  11. Energy and Economic Crisis

    International Nuclear Information System (INIS)

    2000-01-01

    The relationship between the economy and the energy is much more complex of what looks. However, they are continued making, in some cases, absolute statements that used to listen in the past as dogmas, among those that are highly correlated in energy consumption and the Gross National Product GNP and that the countries follow the same development pattern more or less, mainly in connection with the energy consumption. Such statements are not completely misses, neither completely correct and they have behind many simplifications. Of a part, of the historical evolution analysis of several countries or groups of countries on long periods, it confirms the fact that the economic growth, induces an increment in general in the total consumption of energy and vice versa: Energy available with more speed and to smaller price it favors the economic development. Other important factors that impact in the growth of the energy consumption, besides the economic development, are, among, the population's increment, the state of technological development and the cultural customs of use

  12. Impact of the economic crisis on the health of older persons in Spain: research clues based on an analysis of mortality. SESPAS report 2014.

    Science.gov (United States)

    Benmarhnia, Tarik; Zunzunegui, Maria-Victoria; Llácer, Alicia; Béland, Francois

    2014-06-01

    Older adults are seldom considered in studies on the health impact of economic recessions or crises. However, they constitute a population group that is highly vulnerable to decreases in investment in health and social services and social security. Our aim is to examine the relationship between the economic crisis starting in 2008 and the health status of older adults in Spain. More specifically, we analyze changes in trends of mortality in relation to the crisis, the specific impact of winter on mortality and gender differences in the crisis' impact on mortality. Using data from the National Institute of Statistics of Spain on people over 60 years of age, the number of monthly deaths by age and sex from January 2005 to December 2012 was analyzed. Interrupted time series analyses and the "difference in differences" method were used. During the crisis, for adults 60 years and older: 1) the observed mortality seems to be decreasing at a slower rate than what would have been expected in the absence of the crisis; 2) there has been an increase in winter mortality; 3) the impact of the crisis has been greater for female than for male mortality. These results suggest sizable effects of the economic crisis on the mortality of older adults and argue for research done using more detailed analyses integrating economic indicators. Copyright © 2013 SESPAS. Published by Elsevier Espana. All rights reserved.

  13. Analysing impacts of the economic crisis on the pre–start ups process of business students in Germany.

    Directory of Open Access Journals (Sweden)

    Walter Ruda

    2011-12-01

    Full Text Available The article is part of the empirical research project “Starting up Businesses and Entrepreneurship by Students” (GESt–study and analyzes potential impacts of the economic crisis on the pre–start–up process of business students surveyed before and during the downturn at four German universities (of applied sciences, what supports the advancement of entrepreneurship education and support within two different macroeconomic contexts. Though in Germany recessions typically animate more persons to self–employment, these business start–ups are mostly based on necessity–driven entrepreneurship. But particularly opportunity entrepreneurship has positive effects on economic growth and employment. Whereas no significant differences can be detected regarding their start–up propensities, the economic crisis indeed has heightened the intended start–up time as well as the necessity–driven start–up motivation of the surveyed business students, but not their start–up motivation from economic self–realization. Therefore, self–employment as vocational alternative has to be highlighted stronger and entrepreneurial basic knowledge has to be taught adequately to the students so that they are able to mature as potential entrepreneurs at their universities – the location where specialized knowledge about their subsequent professionalism is imparted – what facilitates them to generate future innovations accompanied by enduring and high–skilled employment.

  14. Economic crisis and nursing in Spain.

    Science.gov (United States)

    Zabalegui, Adelaida; Cabrera, Esther

    2010-07-01

    The purpose of the present study is to describe the economic context in Spain and its impact on the health care sector and in nursing schools. The global economic crisis is affecting nursing in Spain. This study analyses and compares indicators related to health care and nursing schools among European countries. Some new strategies to cope with the challenges arising from the health care crisis are suggested. Health care costs are increasing as a result of the ageing of the Spanish population, immigration, chronicity of health problems and new medical technology. Nursing education has changed in 2010 from a 3-year diploma programme to a 4-year University degree in Nursing. This change requires new resources involving staff, facilities and equipment, all of which are lacking because of the economic crisis in Spain. The worldwide economic crisis has affected Spain more than it has other European Union (EU) countries. This global crisis has an impact on the health care sector as well on nursing schools. It is essential for nursing management to develop creative approaches to maintain cost effective patient care. New programmes and technology must be carefully evaluated in terms of cost effectiveness before being implemented. All health care professionals should be well informed and have a solid understanding of this situation.

  15. Impact of the economic crisis on the health of older persons in Spain: research clues based on an analysis of mortality. SESPAS report 2014

    Directory of Open Access Journals (Sweden)

    Tarik Benmarhnia

    2014-06-01

    Full Text Available Older adults are seldom considered in studies on the health impact of economic recessions or crises. However, they constitute a population group that is highly vulnerable to decreases in investment in health and social services and social security. Our aim is to examine the relationship between the economic crisis starting in 2008 and the health status of older adults in Spain. More specifically, we analyze changes in trends of mortality in relation to the crisis, the specific impact of winter on mortality and gender differences in the crisis’ impact on mortality. Using data from the National Institute of Statistics of Spain on people over 60 years of age, the number of monthly deaths by age and sex from January 2005 to December 2012 was analyzed. Interrupted time series analyses and the “difference in differences” method were used. During the crisis, for adults 60 years and older: 1 the observed mortality seems to be decreasing at a slower rate than what would have been expected in the absence of the crisis; 2 there has been an increase in winter mortality; 3 the impact of the crisis has been greater for female than for male mortality. These results suggest sizable effects of the economic crisis on the mortality of older adults and argue for research done using more detailed analyses integrating economic indicators.

  16. The Impact of the Financial Crisis on the Content of Twelve Bestselling US Principles of Economics Textbooks

    DEFF Research Database (Denmark)

    Madsen, Poul Thøis

    2013-01-01

    How have authors of twelve bestselling introductory US textbooks in economics responded to the traumatizing financial crisis? In general the financial crisis is described with a couple of lines here and there or it is dealt with in boxes, separate sections, or specific isolated chapters. Some...

  17. The Impact of the Economic Crisis in the IT & C Industry - Evidence from Bucharest

    Directory of Open Access Journals (Sweden)

    Alexandru GAVRIŞ

    2012-06-01

    Full Text Available Despite its peripheral location within the European metropolitan system, Bucharest has significant competitive advantages – large scale market, high-skilled labour pooling, dynamic business environment, institutional capacity, and knowledge organizations. The location of MNCs has enhanced the domestic small-scale entrepreneurship and the emergence of an innovative IT&C cluster. As the world economic crises stroke almost everywhere, in the case of Bucharest it was enhanced by a political crisis which diminished the industrial growth. In this context we focus on the IT small and medium enterprises which, by surviving the crises and developing even more, show clear evidence of strengthening the cluster identity. Based on the two-digit CANE data on employment, the paper analyzes in an empirical way the IT firms from Bucharest between two representative moments: 2007 the year of maximum growth for Romania and 2010. We attempt to identify the factors contributing to the growth of the cluster and to assess the contribution of the cluster to the generation of regional wealth and jobs. The results shows that, despite of the crises, the local entrepreneurship alongside the continuous foreign interest in the local workforce have pulled together an emerging industrial cluster.

  18. IMPACT OF ECONOMIC CRISIS ON WOOD MARKETS (CONSUMPTION, PRODUCTION AND TRADE

    Directory of Open Access Journals (Sweden)

    Maria‐Loredana POPESCU

    2013-12-01

    Full Text Available Global economic crisis represents one of the causes why wood consumption is increasing especially in countries less developed. In countries where governments couldn’t improve the quality of life and unemployment rate is higher, local communities devastate a lot of forestry. In last thirty years we saw a deforestation process at the global level related to land being converted to other uses: agriculture and urbanization, which represent a positive trend of a negative use. The statistics reveal, on one hand, an increasing demand for paper, paper products, wood products and wood energy. So this point is important to analyze: where wood came from and where it is going as either raw material or processed goods? For undeveloped countries, like Romania, it is easy to export primary wood product without evaluating the consequences. On the other hand, developed countries like Sweden export value added products which brig them higher value and profits and require greater manufacturing and marketing skills (case IKEA. For this, government policy could introduce trade barriers to decrease log consumption (like export taxes and simultaneously support furniture production and trade (e.g. export.

  19. THE IMPACT OF MONETARY POLICY ON BANK CREDIT DURING ECONOMIC CRISIS: INDONESIA’S EXPERIENCE

    Directory of Open Access Journals (Sweden)

    Abdul Mongid

    2017-03-01

    Full Text Available The monetary policy mechanism by which monetary policy was transmitted to thereal economy had emerged as the pivotal discussion topic recently. This paper tried to discussthe impact of Bank Indonesia’s monetary policy on loan bank. By using simple loan bankframework we concluded that monetary policies were able to influence loan bank. Themonetary variables such as discount rate policy, base money and exchange rate policy werevery important in determining the banking credit. As the credit was very important to influencesthe economic activitiy, the result provided evidence that monetary policy was important as atool to control economic activity via credit channel. The validity of this study challenged thehypotheses that monetary policy was death. However, monetary policy maker should carefullyconsider the soundness of the banking industry because it was a strategic partner for monetaryauthority to control the economic activities.

  20. Romanian SMEs During the Crisis: Economic Results and Perceptions

    Directory of Open Access Journals (Sweden)

    Ciprian Nicolescu

    2013-01-01

    Full Text Available The paper looks at how SMEs from Romania evolved in the period2004–2011. The main objective of the paper is to compare SMEs’situation before the start of the economic crisis and during theperiod of the crisis. The examination is done from a dynamic perspectiveand the analysis comprises two aspects: (a the evolutionof a number of economic indicators related to Romanian SMEs’in the studied period and (b the opinions and the perceptions ofSMEs about the impact of the economic crisis on their activity. Thepaper advances proposals of possible strategies to help SMEs bettercope with the on-going economic crisis.

  1. The Impact of the 2008 Economic Crisis on Substance Use Patterns in the Countries of the European Union.

    Science.gov (United States)

    Dom, Geert; Samochowiec, Jerzy; Evans-Lacko, Sara; Wahlbeck, Kristian; Van Hal, Guido; McDaid, David

    2016-01-13

    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; 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; 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; 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.

  2. The Impact of the 1997-1998 East Asian Economic Crisis on Health and Health Care in Indonesia

    NARCIS (Netherlands)

    Pradhan, M.P.; Waters, H.; Saadah, F.

    2003-01-01

    This article identifies the effects of the 1997-98 East Asian economic crisis on health care use and health status in Indonesia. The article places the findings in the context of a framework showing the complex cause and effect relationships underlying the effects of economic downturns on health and

  3. Personal Finances during the Economic and Financial Crisis

    OpenAIRE

    Ioana LUPASC; Adrian LUPASC

    2012-01-01

    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....

  4. The World Financial and Economic Crisis and Its Impact on China-US-Russia Triangle

    Directory of Open Access Journals (Sweden)

    Alexei Dmitrievich Voskressenski

    2011-01-01

    Full Text Available The article analyzes the current state of relations in the triangle of Russia-US-China after the late-2000s global financial crisis from the point of view of their national interests, East Asian policy of the USA, China's growth and the strengthening of Russia in Asia. The author critically examines the existing approaches, foreign policy concepts and the latest initiatives which could shift the balance of power in the post-crisis period. According to the author, Russia still has all the chances to reshape its relations with China and the United States.

  5. 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.

  6. European Union’s research and innovation performances under the impact of the economic crisis

    Directory of Open Access Journals (Sweden)

    Victor-Romeo Ionescu

    2014-05-01

    Full Text Available The paper deals with the analysis of the R&D and innovation activities’ impact on the sustainable economic development. There are two approaches of this phenomenon: national and regional. The main objective of the paper is to quantify and measure the disparities between the Member States and to define their trend until 2020. The analysis in the paper is built on three steps: a regression under ANOVA table in order to establish the R&D and innovation disparities across EU28, a cluster analysis used to group the Member States into distinct clusters and a forecast of the gross domestic expenditure on R&D as % of GDP during 2014-2020. The whole analysis and all its results are supported by the latest official statistic data and pertinent tables and diagrams. The main conclusion of the paper is that EU28 is not the best competitor on the global R&D and innovation market. Moreover, there are great disparities between the Member States and European regions connected to their innovative capacities. And the forecast for 2020 is not a positive one.

  7. MANAGEMENT STRATEGIES DURING ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    SINTEA(ANGHEL LUCICA

    2014-05-01

    Full Text Available During the financial and economic crisis, the management of an entity must establish a plan and apply strategies needed to mitigate the negative effects due to the action of disturbing factors. Management must have a vision of business evolution, of costumer and supplier perspective, of how to develop the technological equipment in order to increase profitability and product quality. The manager must give utmost importance to all economic information he receives, to analyze it, to group it into categories depending on the effects they can produce, to establish the extent to which it influences the activity. The strategies a manager applies are also based on his flair, culture, knowledge or the human and material resources at its disposal

  8. THE IMPACT OF THE ECONOMIC CRISIS ON FOREIGN DIRECT INVESTMENT IN ROMANIA

    Directory of Open Access Journals (Sweden)

    CIURLĂU LOREDANA

    2014-05-01

    Full Text Available Foreign Direct Investment (FDI bring an essential contribution to economic growth. They create jobs, optimize the allocation of resources, technology transfer and stimulate trade. Doing business in Romania needs friendly taxation and economic freedom for entrepreneurs, including to foreign investors, creating a favourable economic environment framework by promoting conditions conducive to attracting foreign investors, such as: fair treatment, fair and non-discriminatory manner; protection from illegal situated between kilometeres; the appeal directly to international arbitration, as well as the transformation of Romania into an attractive environment in terms of taxation.

  9. CRISIS IMPACT UPON THE ROMANIAN COMPANIES

    Directory of Open Access Journals (Sweden)

    Marius GUST

    2014-04-01

    Full Text Available The paper aims at investigating the economic and financial crisis impact which has occurred in the Romanian economy, upon the Romanian companies since 2008. Specifically, its effects are taken into account regarding the number of economic players, the labor force, and the results of business performance: enterprise turnover or gross outcomes. Additionally, this research paper aims at assessing the crisis consequences on corporate behavior in the insecure environment of the crisis regarding the investment process and the value rendered by enterprises. The investigation is made exclusively on the secondary and tertiary sectors of the Romanian economy: industry, construction, trade and services, both from an overall and a sectoral perspective. The analysis also envisages the correlation of progress per the aforementioned economic segments with the overall development of the Romanian economy in terms of economic and financial crisis.

  10. 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. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

  11. 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.

  12. Public Policy Responses to the Global Financial and Economic Crisis

    African Journals Online (AJOL)

    This article aims to assess the impact of the global fi nancial and economic crisis on two sectors in South Africa, namely, the automobile sector and the textile and clothing sector. It also examines the role of public policy in responding to that crisis. Its main objective is to determine whether or not those responses were ...

  13. The Quiet Crisis: The Impact of the Economic Downturn on the Nonprofit Sector

    Science.gov (United States)

    Bridgeland, John M.; McNaught, Mary; Reed, Bruce; Dunkelman, Marc

    2009-01-01

    This report was written to shine a spotlight on the under-reported plight of America's nonprofit organizations and to make recommendations for how the nation can respond. In the wake of the economic downturn, hospitals, nursing homes, nursery schools, senior centers, soup kitchens, and other nonprofit organizations have been hit by a triple…

  14. Economic Crisis in Asia: The Impact on Enrollment in 4 Countries.

    Science.gov (United States)

    Desruisseaux, Paul

    1998-01-01

    A survey of United States colleges and universities that enroll the largest numbers of students from Indonesia, Malaysia, South Korea, and Thailand, which have experienced currency devaluations and economic uncertainty, found a less than 10% drop in those enrollments, a much lower rate than anticipated. Institutions have taken steps to ease the…

  15. Economic crisis and oil market balances

    International Nuclear Information System (INIS)

    Duquesnoy, S.; Rozenberg, J.; Hourcade, J.Ch.

    2011-01-01

    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)

  16. Working Paper 96 - Impact of the Global Economic and Financial Crisis on Africa

    OpenAIRE

    Louis Kasekende; Léonce Ndikumana; Taoufik Rajhi

    2009-01-01

    Prior to July 2008 and despite the subprimecrisis, Africa recorded excellent economicgrowth. The drivers of strong economicgrowth included macroeconomicreforms, a world economic situation thatwas characterized by high demand forcommodities, rising capital inflows andChina’s strong growth. Analysts were optimisticabout the capacity of the continentand the world economy to generate thenecessary resources for development andpoverty reduction.Despite early signs of a pending downturnsince 2007, f...

  17. The Impact of Monetary Policy on Bank Credit During Economic Crisis: Indonesia's Experience

    OpenAIRE

    Mongid, Abdul

    2008-01-01

    The monetary policy mechanism by which monetary policy was transmitted to thereal economy had emerged as the pivotal discussion topic recently. This paper tried to discussthe impact of Bank Indonesia’s monetary policy on loan bank. By using simple loan bankframework we concluded that monetary policies were able to influence loan bank. Themonetary variables such as discount rate policy, base money and exchange rate policy werevery important in determining the banking credit. As the credit was ...

  18. The Socio-Economic Impact of the Global Financial Crisis on Sudan

    Directory of Open Access Journals (Sweden)

    Khalid Hassan Elbeely

    2014-05-01

    Regarding the political impact of GFC, the study finds that the limited means of mass mobilization, and looming uncertainty surrounding Sudan's security and political future should popular protests topple the regime, has disrupted the upsurge of mass protests amongst the grieving citizens, and thus preventing the country to follow the footsteps of its neighboring countries of Egypt and Libya, which were the first Arab countries in the region to witness what has been called the "Arab Spring".

  19. Rural migration in Bolivia: the impact of climate change, economic crisis and state policy

    Energy Technology Data Exchange (ETDEWEB)

    Mariscal, Carlos Balderrama; Tassi, Nico; Miranda, Ana Rubena; Canedo, Lucia Aramayo; Cazorla, Ivan

    2011-04-15

    This case study analyses current migration dynamics in two regions of Bolivia: Northern Potosi, one of the main areas of outmigration in Bolivia, and the municipality of San Julian in the Department of Santa Cruz, a major destination for internal migrants, some of whom come from Northern Potosi. The research was qualitative in nature, with specific attention to breadth and accuracy in the information and analysis. The methods used were participative and the research was done in collaboration with the rural and indigenous organisations in the two selected areas: the Federation of Indigenous Ayllus of Northern Potosi (Federacion de Ayllus Originarios Indigenas del Norte de Potosi Charka Qhara Qhara - FAOI-NP) and the Federation of Intercultural Communities of San Julian (Federacion de Comunidades Interculturales de San Julian). The information gathering process examined a wide range of factors that may trigger migration, including the possible influence of climate change and public policies on migration. The key challenge was to understand current patterns of migration, the processes involved and the social, cultural, economic and political causes and effects, taking into account issues that are increasing in importance, such as climate change, and seeking to discover the extent of their influence in the midst of other factors that drive migration. It is well known that migration is not a simple occurrence. In fact, it involves a series of processes, motivations, causes and decisions. Because it is a collective rather than an individual process, it takes on the character of a 'social phenomenon' that is historically and geographically determined. In many cases, there are cultural practices of transhumance, such as agriculture on different ecological levels or the use of winter and summer pastures. This involves people moving from one place to another, sometimes travelling long distances and crossing districts for several months at a time. These transhumance practices

  20. Rural migration in Bolivia: the impact of climate change, economic crisis and state policy

    Energy Technology Data Exchange (ETDEWEB)

    Mariscal, Carlos Balderrama; Tassi, Nico; Miranda, Ana Rubena; Canedo, Lucia Aramayo; Cazorla, Ivan

    2011-04-15

    This case study analyses current migration dynamics in two regions of Bolivia: Northern Potosi, one of the main areas of outmigration in Bolivia, and the municipality of San Julian in the Department of Santa Cruz, a major destination for internal migrants, some of whom come from Northern Potosi. The research was qualitative in nature, with specific attention to breadth and accuracy in the information and analysis. The methods used were participative and the research was done in collaboration with the rural and indigenous organisations in the two selected areas: the Federation of Indigenous Ayllus of Northern Potosi (Federacion de Ayllus Originarios Indigenas del Norte de Potosi Charka Qhara Qhara - FAOI-NP) and the Federation of Intercultural Communities of San Julian (Federacion de Comunidades Interculturales de San Julian). The information gathering process examined a wide range of factors that may trigger migration, including the possible influence of climate change and public policies on migration. The key challenge was to understand current patterns of migration, the processes involved and the social, cultural, economic and political causes and effects, taking into account issues that are increasing in importance, such as climate change, and seeking to discover the extent of their influence in the midst of other factors that drive migration. It is well known that migration is not a simple occurrence. In fact, it involves a series of processes, motivations, causes and decisions. Because it is a collective rather than an individual process, it takes on the character of a 'social phenomenon' that is historically and geographically determined. In many cases, there are cultural practices of transhumance, such as agriculture on different ecological levels or the use of winter and summer pastures. This involves people moving from one place to another, sometimes travelling long distances and crossing districts for several months at a time. These transhumance

  1. The impact of the economic crisis on time poverty and gender inequalities

    Directory of Open Access Journals (Sweden)

    Cristina García Sainz

    2017-09-01

    Full Text Available This article discusses poverty in relation to time and gender. Firstly, it explains the theoretical assumptions on the topic of time poverty, and the differences between time deficit and time deprivation. Secondly, it describes the impact of policies of structural adjustment; in the dedication to unpaid domestic work, by decreasing the state’s role and the declining of household incomes. Third, the labor market situation in relation to flexibility of working time and working hours is contemplated; it shows how the atypical employment produces time deprivation and subtracts autonomy on own time. Finally, it explains some contributions dealing with the wealth in time and quality of time, his dimensions and the necessary articulation of different social times.

  2. VAR—ANALYSIS OF GLOBAL FINANCIAL ECONOMIC CRISIS IMPACT ON PUBLIC BUDGET AND UNEMPLOYMENT: EVIDENCE FROM THE ECONOMY OF THE KYRGYZ REPUBLIC

    Directory of Open Access Journals (Sweden)

    Nargiza Bakytovna Alymkulova

    2016-12-01

    Full Text Available The Global financial crisis hit the economy of the Kyrgyz Republic by the third wave of its transmission in the early of 2009. The article examines the impact of the Global financial economic crisis on the public budget and unemployment of the Kyrgyz Republic. We analyzed the transmission of the crisis on the public budget firstly and its effect on unemployment level by using the vector autoregression approach (VAR and quarterly data for 2005–2013 within the framework of IS-LM model for small open economies with floating exchange rate. There is an inverse relationship between the public budget and remittances inflow, liquidity level, volume of deposits, and exchange rate. As a result of the study, the fall in remittances inflows, liquidity level of the banking system, depreciation of the national currency lead to an increase in public revenue. Therefore, the increase in public spending during the crisis period, with the aim of unemployment reduction, may be considered as a crucial policy. The study result allows to policy-makers to exactly know what channels of transmission mechanism transfer the Global crisis on the public budget and its effect on unemployment level of the republic in order to undertake anticrisis macroeconomic policy. The final result of the study indicates that the increase of unemployment level by 1 % requires the increase of public spending by 0.63 %.

  3. WESTERN BALKANS’ COUNTRIES IN FOCUS OF GLOBAL ECONOMIC CRISIS

    OpenAIRE

    Engjell PERE; Albana HASHORVA

    2011-01-01

    The paper intends to analyze the impact of global economic crisis on the economies of Western Balkan Region. Albania, Bosnia & Herzegovina, Croatia, Macedonia (FYROM), Montenegro, Serbia, and Kosovo are part of this Region. The purpose of the paper is not to analyze the global crisis impact on specific sectors of the economies of the Western Balkan Countries, indeed, it focuses mainly on the macroeconomic level, identifying and analyzing fluctuations of major macroeconomic indicators of the e...

  4. LOOKING BEYOND THE CRISIS. LESSONS FROM THE EUROPEAN ECONOMIC DECLINE

    Directory of Open Access Journals (Sweden)

    Larisa LUCHIAN

    2014-10-01

    Full Text Available This paper gives an overview on the deepest EU’s recession since the 1930s. The purpose of this study is to analyze the main macroeconomic indicators and their domino effect, in times of crisis. The abrupt downturn of the EU economy wasn’t entirely an unpredicted event. This is why the impact of the macroeconomic instability should never be underestimated in the future. Prevention, control and resolution represent elementary lessons from the way the current economic crisis has been handled. The analysis, added to the disruptions caused by the economic crisis, shows that the recession continues to weigh on the perspectives and solutions of the macroeconomic stability.

  5. Ischemic stroke risk factors during Greek economic crisis.

    Science.gov (United States)

    Katsanos, Aristeidis H; Fiolaki, Aidonio; Markou, Sofia; Markoula, Sofia; Kosmidou, Maria; Kyritsis, Athanassios P; Giannopoulos, Sotirios

    2016-02-01

    The impact of Greece's economic crisis on healthcare is of great concern. The aim of the present study was to assess the impact of economic crisis on the prevention of cerebral ischemic events. Retrospective analysis of patients with ischemic stroke (IS) or transient ischemic attack (TIA) admitted to a tertiary neurological department in northwestern Greece during the period 2008-2014. Using 2011 as the transitional year IS/TIA patients were dichotomized according to their admission date in two subgroups: the "before economic crisis" subgroup and the "after economic crisis" subgroup. Logistic regression analyses were performed to identify predictor variables of statin/antihypertensive pretreatment. Patients admitted after the economic crisis outbreak (mean age: 57.6 ± 13.5 years) were found to have lower waist periphery measurements (p = 0.001), lower incidence of diabetes (p = 0.028), hyperlipidemia (p = 0.002) and metabolic syndrome(p crisis (mean age: 59.6 ± 11.1 years). However, between the two subgroups were no significant differences in the rates of untreated patients with hyperlipidemia (p = 0.189) and/or hypertension (p = 0.313). Even though statin pretreatment prior to stroke onset was found to be reduced during economic crisis compared to the period before the crisis, (OR = 0.58, 95%CI: 0.34-0.95, p = 0.032), this association did not retain statistical significance in the multivariate logistic regression analysis (OR = 1.69, 95%CI = 0.83-3.42, p = 0.143). Our study supports that at present financial crisis has not significantly affected the prevention of cerebrovascular events in the citizens of a provincial city area. Data from other regions and time-periods are needed for the final verdict. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

  6. The influence of the environmental management system on the environmental impact of seaport companies during an economic crisis: Lithuanian case study.

    Science.gov (United States)

    Anne, Olga; Burskyte, Vilma; Stasiskiene, Zaneta; Balciunas, Arunas

    2015-01-01

    Freight handling in EU ports fell by more than 12 % during the global economic crisis in 2008-2009 after almost a decade of continuous growth. The decrease of freight handling in the Klaipeda seaport, the only port in Lithuania, was 6.7 % and happened due to the dominant outward movement of goods (mainly oil products). The Klaipeda seaport, due to its peculiarity, is the only ice-free port in the northern part of Baltic Sea. The present study explores the environmental impact of Klaipeda seaport activities from 2001 to 2011. Moreover, it compares the environmental effectiveness of environmental protection strategies used in the four biggest companies that, in fact, cover about 88 % of total activities (except general cargo) of the seaport. The first group of targeted companies used an environmental protection strategy to implement an ISO 14001-based environmental management system, and the second group selected to follow environmental management practices without certification. The paper analyses the development of the companies' activities in regard to the change of environmental effectiveness. The paper evaluates the pressure of the economic crisis on the companies' activities and its influence on environmental decisions, with particular interest in the ability of different environmental protection systems to resist and handle the expected performance. The study identified a significant decrease in companies' activities during the crisis period. However, the economic activities and environmental effectiveness demonstrated similar short-term tendencies in regard to the environmental strategy selection but differed in long-term perspective.

  7. 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

  8. 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

  9. 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.

  10. The impact of the economic crisis and policy actions on GHG emissions from road transport in Spain

    International Nuclear Information System (INIS)

    Sobrino, Natalia; Monzon, Andres

    2014-01-01

    Road traffic is the greatest contributor to the carbon footprint of the transport sector and reducing it has become one of the main targets of sustainable transport policies. An analysis of the main factors influencing greenhouse gas (GHG) emissions is essential for designing new energy- and environmentally efficient strategies for the road transport. This paper addresses this need by (i) identifying factors which influence the carbon footprint, including traffic activity, fuel economy and socioeconomic development; and (ii) proposing a methodological framework which uses Modified Laspeyres Index decomposition to analyze the effect of important drivers on the changes in emissions of road transport in Spain during the period from 1990 to 2010. The results demonstrate that the country's economic growth has been closely linked to the rise in GHG emissions. The innovative contribution of this paper is the special analysis of the changes in mobility patterns and GHG emissions during the economic crisis, when, for the first time, Spanish road traffic emissions decreased. The reduction of road transport and improved energy efficiency has been powerful contributors to this decrease, demonstrating the effectiveness of energy-saving measures. On the basis of this analysis, several tailored policy recommendations have been suggested for future implementation. - Highlights: • Drivers contributing to GHG emissions of road transport are identified and analyzed. • Decomposition analysis based on Modified Laspeyres Index (MLI) is applied to the Spanish case. • Economic crisis and changes in mobility patterns and GHG emissions are analyzed. • Policies for the decarbonization of road transport are recommended

  11. ASPECTS OF ECONOMIC CRISIS IN THE ADMINISTRATION OF GOVERNMENT DEBT

    Directory of Open Access Journals (Sweden)

    UDRIŞTIOIU ANCA ROXANA

    2012-06-01

    Full Text Available The recent years have been characterized by the general influence of the crisis on the economic growth of the states, thus triggering the significant rise in the level of budget deficit and public debt. Under these circumstances, it is highly important that we know the real causes of the rise in public debt, its effects, and also the management strategy of the government public debt. What we aim to do is to take a glimpse into the real economic situation of the country, and in order to understand the crisis impact on it, we will review the economic facts of the last 10 years.

  12. Crisis will impact investments

    International Nuclear Information System (INIS)

    Anon.

    2008-01-01

    of supply deterioration. While today's world economic crisis should reduce energy demand, decrease CO 2 emissions and decrease electricity and gas prices, the credit crunch will likely delay the needed investments in infrastructure to replace aging plants or to build new plants, electrical lines and gas pipelines. Also, governments will have less tax revenues and will have to limit their spending, analysts said. They might be tempted to reduce financial subsidies to renewable energies, as did the Spanish government in October 2008, limiting its incentives to solar development. Analysts said such decisions could jeopardize the growth of renewable energies, especially wind and solar, which need subsidies to be financially competitive. Governments could also impose new taxes on certain utilities; for example, windfall profits linked to CO 2 certificates obtained for free and incorporated in the wholesale prices at their market price. Also, many governments may want to protect their citizens' purchasing power by taking measures such as capping electricity prices (as announced by the Belgian minister of Energy in October 2008) or imposing special measures to protect vulnerable customers (as per discussions currently taking place in the U.K.). During the first half of 2008, some long-awaited mergers and acquisitions were closed, in turn triggering acquisitions of the divested assets following these transactions. The crisis should trigger an increased market consolidation, the acquirers being those with solid balance sheets and cash. Analysts said young companies and new entrants with weak balance sheets could be acquired by stronger ones, thus decreasing market competition. Utilities have to quickly adapt to the new landscape by thriving toward operational excellence, analysts said. This means they will have to streamline their internal processes, simplify their organizations and increase their reactivity while continuously benchmarking their results with the 'best in

  13. The Evolution of SMEs during 2008-2013 and the Analysis of their Impact on Economic Crisis

    Directory of Open Access Journals (Sweden)

    Ionica Oncioiu

    2014-08-01

    Full Text Available Between 2011-2013, the economic conditions which were encountered by the EU companies were marked by an intensification of the sovereign debt crisis in the Eurozone, under the specter of double recession, to a greater extent in some countries in southern Europe and slowing the growth, since 2011, even in the most advanced economies. The SMEs are a key factor, an important catalyst for economic growth, innovation, employment and social integration. The main advantages of SMEs in the economy are flexibility and adaptability, which enables them to overcome more easily the periods of economic recession. The methodology used in this work consists of qualitative and quantitative methods, the analysis being based mostly on the quantitative component of collection, processing and interpretation of statistical data. In 2010 the number of deregistration from the Registry of Commerce has reached its historic peak, 186,144, the increase being compared to the previous year, being approximately 325%. In 2009 there was a significant decrease in the number of commercial registration compared to 2008, 32,407 companies, i.e. 22.47%. This shows that the recession was felt in the Romanian economy since 2009.

  14. 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.

  15. The Post-Crisis Healthcare System: Effects of the Economic Crisis in Romania

    Directory of Open Access Journals (Sweden)

    Marta Christina SUCIU

    2012-05-01

    Full Text Available The economic crisis is still on the lips of economic and political analysts from nations around the world, even more so in places where its effects continue to make themselves felt. Romania is among these troubled countries, having to deal with no just the aftermath but also signs of a possible relapse. This paper begins with a brief presentation of the economic crisis, focusing on the national specificities along with its EU member status and their effects on the evolution of the situation. Following that, the more important elements of the presented situation are identified and individually analyzed, with the purpose of identifying useful information for any possible future crisis. The final purpose of the paper is to determine the trajectory of a future crisis by taking into account inefficient management of the economic system and the strategies used to safeguard the economy, which have up until now failed to properly deal with the situation. In order to properly achieve this purpose, the analysis will attempt to identify the impact of the crisis on the healthcare system and its post-crisis configuration as well as the steps taken at the administrative level. The results of this interdisciplinary research are meant to be used as a source for a future expansion of the study and to bring attention to certain areas that can show a possible recurrence in the future.

  16. 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

  17. 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…

  18. In the wake of the economic crisis

    DEFF Research Database (Denmark)

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

    , 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...... paper illustrate how the economic crisis influences e.g. social inequalities, life-courses, family relations, anti-foreigner sentiments, migration, and welfare policies. It, thereby, serves as an excellent starting point for reflections on what societies will be like post-economic crisis....

  19. Heterogeneity in Firm Performance During Economic Crisis

    Directory of Open Access Journals (Sweden)

    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.

  20. 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.

  1. The Crisis Impact on the Labour Market

    Directory of Open Access Journals (Sweden)

    Simona Valeria TOMA

    2010-12-01

    Full Text Available The aim of this paper is to discuss the impact of the current global economic crisis on the labour market, including the risk that the recession will be followed by a jobless recovery that contributes to a lost generation of young people in the workforce. The crisis affects different sectors in different ways, but the impact also varies according to age, gender, skills level and type of contract. Although it had a more significant effect on the private sector of the economy, the crisis’s impact on the broader public sector is also obvious. Migrants, both legal and illegal, are particularly vulnerable during crises because they are typically not being provided the same level of employment protection as native workers and hence they are the first to lose their jobs during an economic downturn.

  2. The Economic Crisis and Public Health

    Directory of Open Access Journals (Sweden)

    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.

  3. 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

  4. The impact of the global economic crisis on the finances of non-governmental sport organizations in Slovenia remains to be seen

    Directory of Open Access Journals (Sweden)

    Gregor Jurak

    2014-06-01

    Full Text Available This paper examines the impact of the global economic crisis on revenues on all non-governmental sport organizations (sport NGOs in Slovenia, as a small European economy. Five types of operating revenues of all sport NGOs from 2007 to 2010 have been analyzed. We found that the overall trend of sport NGOs revenues does not correspond exactly to the trends of the Slovenian economy. The greatest financial impacts were experienced in grassroots sport, while professional sport NGOs have increased their operating revenues, mostly due to increases of public revenues. The findings suggest that the true impact of the recession on Slovenian sport NGOs remains to be seen. We conclude that the ongoing recession will affect grassroots sport the least, while semi-professional and professional sport NGOs will be under financial threat. Because of the synergistic effects of different types of NGOs, this could affect the sustainability of Slovenian sport.

  5. Child Health and Economic Crisis in Peru

    OpenAIRE

    Paxson, Christina; Schady, Norbert

    2005-01-01

    The effect of macroeconomic crises on child health is a topic of great policy importance. This article analyzes the impact of a profound crisis in Peru on infant mortality. It finds an increase of about 2.5 percentage points in the infant mortality rate for children born during the crisis of the late 1980s, which implies that about 17,000 more children died than would have in the absence o...

  6. Economic impact

    Energy Technology Data Exchange (ETDEWEB)

    Technology Transfer Department

    2001-06-01

    In federal fiscal year 2000 (FY00), Berkeley Lab had 4,347 full- and part-time employees. In addition, at any given time of the year, there were more than 1,000 Laboratory guests. These guests, who also reside locally, have an important economic impact on the nine-county Bay Area. However, Berkeley Lab's total economic impact transcends the direct effects of payroll and purchasing. The direct dollars paid to the Lab's employees in the form of wages, salaries, and benefits, and payments made to contractors for goods and services, are respent by employees and contractors again and again in the local and greater economy. Further, while Berkeley Lab has a strong reputation for basic scientific research, many of the Lab's scientific discoveries and inventions have had direct application in industry, spawning new businesses and creating new opportunities for existing firms. This analysis updates the Economic Impact Analysis done in 1996, and its purpose is to describe the economic and geographic impact of Laboratory expenditures and to provide a qualitative understanding of how Berkeley Lab impacts and supports the local community. It is intended as a guide for state, local, and national policy makers as well as local community members. Unless otherwise noted, this analysis uses data from FY00, the most recent year for which full data are available.

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

    Directory of Open Access Journals (Sweden)

    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.

  8. The Impact of the Financial Crisis on the Content of Six US Principles of Economics – Real or Apparent Changes?

    DEFF Research Database (Denmark)

    Madsen, Poul Thøis

    The financial crisis has already led to visible changes of six textbooks published in 2010. The financial crisis, however, tends to be confined to boxes and separate sections without influencing the theoretical core. The analysis suggests that this core will also remain unchanged for years to come....

  9. 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.

  10. The Economic Crisis and Sustainable Development

    DEFF Research Database (Denmark)

    Lund, Henrik; Hvelplund, Frede

    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......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...... the market is embedded. This paper presents such tools and methodologies and applies them to the case of the Danish heating sector. The case shows how investments in decreasing fossil fuels and CO2 emissions can be made in a way in which they have a positive influence on job creation and economic development...

  11. Impact of global financial crisis on the economy of Ukraine

    OpenAIRE

    Turko, Vasyl; Mukan, Andriy

    2013-01-01

    Thе primary concern of this research is to examine the impact of the global financial crisis on the economy of Ukraine. The principal result of this research is to identify the main causes and levers of that influence. The study proposes a new way out of economic crisis in Ukraine.

  12. 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.

  13. the dutch crisis and recovery act: economic recovery and legal crisis

    African Journals Online (AJOL)

    Jonathan

    THE DUTCH CRISIS AND RECOVERY ACT: ECONOMIC RECOVERY AND. LEGAL CRISIS? J Verschuuren. 1 Introduction. Throughout the world, governments are responding to the financial and economic crisis. Such responses vary from supporting the banking system to adopting economic stimulus packages. The latter ...

  14. VALUE ADDED TAX IN THE ECONOMIC CRISIS CONTEXT

    Directory of Open Access Journals (Sweden)

    Mara Cristian

    2011-07-01

    Full Text Available This article tries to present the major aspects concerning the value added tax in the context of economic crisis in European Union countries and Romania. The paper realizes an analysis of the impact of economic crises on VAT in the European space underlining the current situation when the revenues from VAT represent a valuable source of financing the public expenditures. In Romania the economic crises has led to increasing o f VAT rate from 19% to 24%. This measure is an important fiscal measure for the state budget and this study tries to reflect the impact of this VAT rate increase on the public revenues and consumption.

  15. [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.

  16. Flexicurity strategies on the economic crisis background

    Directory of Open Access Journals (Sweden)

    Daniela PAŞNICU

    2010-06-01

    Full Text Available • The flexicurity concept – a combination of flexibility and security strategies, specific to each country – is a successful outcome[1] of the 2010 Lisbon Strategy. Ever since 2000, this concept has been implemented for continuing the European labour markets reform. The conclusion of the Mission for Flexicurity[2] is that the European labour markets challenges have not changed, therefore flexicurity is the strategy to be further implemented in order to align to the new competition requirements, providing also the necessary social protection, especially on the current economic crisis background.   The paper addresses the flexicurity concept development, the implications of the flexicurity strategies and of the steps taken on the European Union Member States labour markets, on the economic crisis background.

  17. Impact of Global Financial Crisis on Nigerian Stock Market | Onuoha ...

    African Journals Online (AJOL)

    Impact of Global Financial Crisis on Nigerian Stock Market. ... that the global financial crisis measured by currency crisis, credit crisis, liquidity crisis, ... relevant regulatory authorities should use the financial stress index (FSI) as proposed by ...

  18. Global economic crisis and Africa's economic performance | Ekpo ...

    African Journals Online (AJOL)

    It is generally acknowledged that African economies were able to withstand the 2007/2008 global economic crisis because of better macroeconomic management. Macroeconomic fundamentals, such as growth, rate of inflation and deficit/GDP ratio, among others, appear to move in the right direction during and after the ...

  19. Labour productivity and economic growth in the EU in post-crisis period

    OpenAIRE

    Auzina-Emsina, Astra

    2014-01-01

    Labour productivity and economic growth are the major factors to sustain and improve the performance and competitiveness of countries. The paper is devoted to the analysis of recent trends of labour productivity and economic growth in the European Union (EU) countries in post-crisis period in comparison with the trends in pre-crisis and crisis periods. The paper analyses the impact of changes in labour productivity and the effect on the macroeconomic indicators. The research focuses on the Eu...

  20. 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…

  1. Coping with the Global Economic Crisis: A Challenge to Technical ...

    African Journals Online (AJOL)

    gold

    2012-07-26

    Jul 26, 2012 ... Global Economic Crisis may as well be referred to as. Global ... utilization, household incomes and business profits all fall during recessions. Governments ..... In Nigeria today, education is in crisis, teachers' salaries are.

  2. Precarious work and care responsibilities in the economic crisis

    Czech Academy of Sciences Publication Activity Database

    Hašková, Hana; Dudová, Radka

    2017-01-01

    Roč. 27, č. 1 (2017), s. 47-63 ISSN 0959-6801 R&D Projects: GA ČR GA15-07898S; GA ČR GA15-13766S Institutional support: RVO:68378025 Keywords : Czech Republic * economic crisis * precarious work Subject RIV: AO - Sociology, Demography OBOR OECD: Sociology Impact factor: 1.159, year: 2016 http://ejd.sagepub.com/content/early/2016/10/13/0959680116672279.full.pdf+html

  3. Nursing workforce policy and the economic crisis: a global overview.

    Science.gov (United States)

    Buchan, James; O'May, Fiona; Dussault, Gilles

    2013-09-01

    To assess the impact of the global financial crisis on the nursing workforce and identify appropriate policy responses. This article draws from international data sources (Organisation for Economic Co-operation and Development [OECD] and World Health Organization), from national data sources (nursing regulatory authorities), and the literature to provide a context in which to examine trends in labor market and health spending indicators, nurse employment, and nurse migration patterns. A variable impact of the crisis at the country level was shown by different changes in unemployment rates and funding of the health sector. Some evidence was obtained of reductions in nurse staffing in a small number of countries. A significant and variable change in the patterns of nurse migration also was observed. The crisis has had a variable impact; nursing shortages are likely to reappear in some OECD countries. Policy responses will have to take account of the changed economic reality in many countries. This article highlights key trends and issues for the global nursing workforce; it then identifies policy interventions appropriate to the new economic realities in many OECD countries. © 2013 Sigma Theta Tau International.

  4. 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.

  5. GREEK ECONOMIC CRISIS ON MACROECONOMIC INDICATORS

    Directory of Open Access Journals (Sweden)

    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.

  6. 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.

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

    Directory of Open Access Journals (Sweden)

    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.

  8. The Impact of the Current Economic Crisis on the Demand for Higher Education: An Analysis of Spanish Distance Education Universities

    Science.gov (United States)

    Reina-Paz, María Dolores; Rodríguez-Oromendía, Ainhoa; Sevilla-Sevilla, Claudia

    2012-01-01

    Spain is currently experiencing a difficult economic situation, and in recent years a significant change has been observed in the behavior of the demand for educational programs as a result of this situation. Recent studies reveal a change in student demand that does not have the same effect on all academic institutions. Bearing this behavior in…

  9. A regional analysis of the effects generated by the economic crisis and its impact on the outstanding loan portfolio in Romania

    Directory of Open Access Journals (Sweden)

    Alina BRĂTUCU (LUCA

    2012-07-01

    Full Text Available Known as the biggest crises since the Great Depression, the actual global crisis has modified the economical structures of many countries and a vicious circle of tightening credit, has reduced demand and rapid job cuts occurred. In Romania, the situation evolved with rapidity based on a series of snow-ball effects and the economy suffered severe damages in terms of intensive growth and sustainability. The lending activity was seriously damaged and many people got in a difficult situation with no jobs and with higher interest rates on loans.For a better understanding of the economic crisis phenomena consequences in Romania, we will try to emphasize the main implications of the influences of unemployment and medium net wages on the banking activity using a regional econometric model for panel data.

  10. Global Economy under the Current Economic Crisis Effects

    OpenAIRE

    Voicu Ioana-Iulica; Talmaciu Iuliana

    2010-01-01

    In the current context in which countries in the world search new solutions and strategies to counteract the negative effects generated by the worst economic crisis in the last 80 years, the globalisation rises polemics and controversies regarding the causes that lead to the expansion of the crisis. May it be, the current economic crisis, a consequence of the globalisation? Beyond the contradictory answers, the globalisation must be seen in essence as a stimulating and expansion factor of the...

  11. 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…

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

    African Journals Online (AJOL)

    First Lady

    2012-10-27

    Oct 27, 2012 ... cash-productive; boosting the students interest I n science; and developing ... Global economic depression, according to Babalola and Tiamiyu (2009) ... help to overcome the problem of economic crisis in the country? 2.

  13. Coping with the Global Economic Crisis: A Challenge to Technical ...

    African Journals Online (AJOL)

    There is rapid transformation of the economics of the developed countries of the ... economic crisis affecting both the developing and underdeveloped countries of ... creating new demands for more adaptable, multi-skilled and creative labour.

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

    Science.gov (United States)

    Friedman, Jed; Thomas, Duncan

    2015-01-01

    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 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. PMID:25892838

  15. 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.

  16. The Emphasis of Negative Journalism in the Economic Communication, one of the Consequences of the Global Economic Crisis

    OpenAIRE

    Stefan VLADUTESCU

    2012-01-01

    (a) Purpose. Triggered around year 2005, the current economic and financial crisis has gained a global character. The purpose of this study is to investigate the impact of the crisis upon journalistic communication of financial and economic profile. b) The collection of basic information. As the main premise,it has been noted that in a natural way, there is a "negative journalism", a journalism based on persuasion. In addition it has been noted as a second premise, the existence of the financ...

  17. 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.

  18. The Financial and Economic Crisis and Developing Countries

    Directory of Open Access Journals (Sweden)

    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.

  19. The impact of the crisis on earnings and income distribution in the EU

    NARCIS (Netherlands)

    de Beer, P.

    2012-01-01

    Although the economic crisis that started in 2008 hit all EU member states hard, the impact of the crisis on employment, unemployment, earnings and inequality varied considerably. This paper analyses the variation in the consequences of the crisis among the member states of the EU. First, it

  20. Economic crisis, economic methodology and the scientific ideal of physics

    Directory of Open Access Journals (Sweden)

    Stavros A. Drakopoulos

    2016-11-01

    Full Text Available The methodological foundations of mainstream economics have been cited as one of the main reasons for its failure to account for the economic crisis of 2008. In spite of this, the status of economic methodology has not been elevated. This is due to the persistent aversion towards methodological discourse by most mainstream economists. The anti-methodology stance has a long presence as exemplified in Frank Hahn’s (1992 work. After focusing on the debate originating after the publication of Hahn’s arguments, the paper offers a categorization of the main explanations for mainstream methodological aversion. Subsequently, it suggests an explanation based on the role of the physics scientific ideal, arguing that the endeavor to achieve the high scientific status of physics by following the methods of physics, contributed to the negative mainstream attitude towards economic methodology. The relevant writings of the extremely influential mainstream economists Irving Fisher and Milton Friedman, reinforce the assertion that the alleged hard science status of economics renders methodological discussions and especially methodological criticism, rather pointless. The paper also calls for a more systematic discussion of this issue, especially in the wake of the line of argument that links the recent failings of mainstream economics to its methodological basis

  1. Impact of the economic crisis on human mobility in Japan : a preliminary note L’impact de la crise économique sur la mobilité humaine au Japon : note préliminaire

    Directory of Open Access Journals (Sweden)

    Yoshitaka Ishikawa

    2012-12-01

    Full Text Available The central aim of this paper is to explore the impact of the global economic crisis on different categories of human mobility, including migration and tourism, in Japan. The major findings can be summarized as follows. First, since the fall of 2008 the crisis has had a far-reaching influence on Japan, for both the ethnic majority and minorities. Second, the intensity of the negative impact has varied by metropolitan areas and nationalities. Japanese nationals in the Tokyo metropolitan area and migrant workers (particularly Brazilians in the Nagoya metropolitan area and central Japan manufacturing prefectures are the most affected population groups. Finally, support programs by the Japanese government were problematic, and, in particular, the program that provided incentives for migrant workers to voluntarily return to their home countries was introduced too late. However, it is too early to clearly elucidate the full impact of the crisis, since the latest available data confirm that the current situation remains in a state of crisis.L’article vise à explorer l’impact de la crise économique mondiale sur différentes catégories de mobilité humaine au Japon, y compris les migrations et le tourisme. Les résultats principaux de l’étude peuvent se résumer comme suit. En premier lieu, depuis l’automne 2008, la crise a eu une influence non négligeable sur le pays, à la fois pour la majorité et pour les minorités ethniques. Ensuite, l’intensité de l’impact négatif a varié selon les zones métropolitaines et les nationalités. Les nationaux de la zone métropolitaine de Tokyo, ainsi que les travailleurs migrants (surtout des Brésiliens de la zone de Nagoya et des préfectures manufacturières du centre sont les groupes les plus touchés. Enfin, les programmes d’aide mis en place par le gouvernement japonais se sont révélés problématiques, en particulier celui qui offrait des incitations au retour volontaire vers les pays

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

    Directory of Open Access Journals (Sweden)

    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.

  3. Farmers' pensions and the Polish economic crisis.

    Science.gov (United States)

    Simanis, J G

    1983-04-01

    The Polish Government, in 1977, inaugurated a new pension program that made old-age and invalidity benefits available for the first time to most farmers in that country. The evolution and eventual failure of that program were closely intertwined with a growing national economic crisis, manifested in widespread popular unrest and culminating in emergence of the Solidarity movement. The farmers' pension program was originally presented as both a social security measure and a vehicle for improving agricultural efficiency. The economic situation was expected to benefit as farms of older owners were passed to younger, presumably more efficient, successors, with the state sometimes acting as intermediary. A further step to bind the social security concept to agricultural efficiency came through relating the pension amount to the quantity of produce the individual farmer sold to the state over a number of years. The failure of these provisions and other unpopular features of the new program was aggravated by inflation and continuing deterioration of the Polish economy.

  4. Correlation of demographic-economic evolutions in Romania after the 2008 economic crisis

    Directory of Open Access Journals (Sweden)

    Litra, A. V.

    2013-12-01

    Full Text Available The paper aims to clarify the extent to which economic developments after 2008, largely due to the global economic crisis, have had an impact on demographic indicators in Romania. From the correlation analysis between the series of economic and demographic data (with a delay of one year, concluded that unemployment strongly influence live births and total fertility rate (especially for first-born, and in a medium measure the natural population change, and GDP is strongly correlated with the natural growth of the population, and medium correlated with the number of live births, total fertility rate and the number of marriages.

  5. Financial Crisis and Economic Restructuring in Southeast Asia

    OpenAIRE

    Yul Kwon

    1998-01-01

    The hidden inner structural problem with the rapid growth of economy was exposed after the financial crisis and South-East Asia is facing serious economic crisis. Currently, the core of the financial crisis is the low function of financial system, so to make the financial department normal by rebuilding the untrue financial system is the problem we are facing. If our financial sector delay the structural adjustment and continue to be competitive in credit, the insolvent debenture will soar. E...

  6. 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...... and previous scholarship, reactions tend to be characterised by incrementalism and 'crisis routines' rather than fundamental deviations from earlier policy patterns. For the first time, the study of domestic political dynamics following crisis is systematically embedded in the transnational policy debate...

  7. Indonesian heath care and the economic crisis: is managed care the needed reform?

    Science.gov (United States)

    Hotchkiss, D R; Jacobalis, S

    1999-03-01

    The ramifications of the current economic crisis are being felt throughout Asia, but problems are particularly acute in Indonesia; in the midst of high inflation and unemployment the government is considering expanding managed care reform. In this paper, we discuss the impact of the recent economic crisis on the health sector in Indonesia, and analyze the potential for implementing effective reform following the managed care model. The health sector is discussed, highlighting pre-existing problems in the health care supply environment. The determinants of the economic crisis are summarized, and the broad impacts of the crisis to date on the health sector are assessed. Next the prospects for success of current managed-care reform proposals are examined in some detail: viability of expanded managed care reform measures are assessed in light of the continuing crisis and its likely impacts on the consumers and suppliers of health care. Analysis of the potential impact of the continuing crisis focuses on key participants in health care reform: households, the government, and private health care providers. In conclusion the potential viability of managed care appears poor, given the current economic, political, and institutional conditions and likely future impacts, and suggest some alternative reform measures.

  8. The Economic Crisis and Several Effects on Global Economy

    Directory of Open Access Journals (Sweden)

    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.

  9. SOME CONSEQUENCES OF THE ECONOMIC CRISIS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    ALINA FLEȘER

    2012-01-01

    Full Text Available The international financial crisis has led to a number of effects on the Romanian economy. Altough there had not been reported any direct consequences on the banking system, indirect effects on the economy were felt in full. In this context, the present paper, aims at highlighting numerous macroeconomic effects of the crisis with important economic and social load.

  10. 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.

  11. The Dutch "Crisis and Recovery Act": Economic recovery and legal ...

    African Journals Online (AJOL)

    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 ...

  12. Aftershocks : Economic Crisis and Institutional Choice

    NARCIS (Netherlands)

    Hemerijck, Anton; Knapen, Ben; Doorne, van Ellen

    2009-01-01

    Aftershocks werd geschreven op het hoogtepunt van de grootste economische crisis sinds de grote depressie. Hoewel het voorbarig zou zijn aan te nemen dat de gevolgen van de crisis al in volle omvang duidelijk zijn, is het overduidelijk dat zij ingrijpende effecten zal hebben op politiek, economisch

  13. 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.

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

    Directory of Open Access Journals (Sweden)

    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.

  15. 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.

  16. The impact of the financial crisis under the effects of increasing global economic interdependence. The case of Eastern and Central Europe Economies

    Directory of Open Access Journals (Sweden)

    Bușega Ionuț

    2015-03-01

    Full Text Available The technological progress that arose in areas such as transportation, communication and information exchange has led to a series of consequences that forced national economies to converge into a global, market based economy. In addition to the aforementioned causes, increased liberalisation amidst financial markets has supplemented the initiation of this metamorphosis that had several benefits in terms of general commercial exchange (trade, capital flows, and investment opportunities for business organisations. Simultaneously with the financial leverage resulted from the expansion of these interconnections, a series of channels that are detrimental to the financial welfare of entities has emerged, which, in consequence elevated the vulnerability and susceptibility to external economic shocks. The major debate elicited by this trade-off mainly concerns the costs and benefits of the international liberalisation of capital flows and trade. The purpose of this article is to examine the methods through which globalisation has affected the expansion of the international financial crisis back in 2008, by identifying and assessing the subsequent transfer routes, to and from the United States, where it was initially triggered. This article also aims to evaluate the repercussions experienced by Central and Eastern Europe and how they re-established economic growth following the financial crisis.

  17. Romanian Public Expenditures Policy during the Economic Crisis

    Directory of Open Access Journals (Sweden)

    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.

  18. 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.

  19. The Global Economic Crisis and the Africa Rising Narrative

    African Journals Online (AJOL)

    in the context of the intertwined global socio-economic as well as ecological crisis ...... Warming and Environmental Destruction, London: Resistance Books. .... Piketty, T., 2014, Capital in the Twenty-First Century, The Belknap Press of Harvard.

  20. The Economic Crisis and its Effects on SMEs

    Directory of Open Access Journals (Sweden)

    Roxana Gabriela Hodorogel

    2009-05-01

    Full Text Available Romania has ended a high growth cycle. The world economic crisis is worsening with every passing day and Romania increasingly feels the effects of this economic downturn. The sector of small and medium enterprises (SMEs is the most dynamic in the Romanian economy, but it will also be one of the first to be hit by the global financial crisis the ripples of which have reached Romania as well. SMEs are now considered the most sensitive sector and worst affected by the economic climate. The economic crisis has prompted the member states of the European Union, too, to adopt packages of measures to counteract the effect of the crisis. Here below I will exemplify with the cases of Romania, the Italian Republic, the Federal Republic of Germany, the Slovak Republic and the Republic of Hungary.

  1. 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...

  2. Alcohol and the economic crisis in Argentina: recent findings.

    Science.gov (United States)

    Munné, Myriam I

    2005-12-01

    In 2002 Argentina participated in the GENACIS project (Gender, Alcohol, and Culture: An International Study) as one of the countries funded by the World Health Organization. Four questions about the current economic crisis in Argentina were added to the original GENACIS questionnaire in order to find out the opinions of the general population in relation to alcohol and the economic crisis. Gender differences in the answers to these questions were examined. Logistic regression was used to identify demographic, drinking pattern and drinking problems variables related significantly to responses to the economic crisis questions. During the economic crisis people stopped or reduced going to bars and instead drank at home or at friends' homes. A large number of respondents also reported that people had changed to cheaper or lower-quality alcoholic drinks. Women were more likely to agree with statements that the economic crisis had increased 'escape' drinking and required reductions in money spent on alcohol; men were more likely to agree that the crisis had led to less drinking in bars and to the purchase of cheaper or lower-quality alcoholic beverages. Respondents who reported having significant others with drinking-related problems were more likely to endorse all four statements about effects of the economic crisis on drinking behaviour. A qualitative approach was used to discuss themes in the general comments that were recorded by the interviewers while collecting data. A strongly moralistic attitude towards alcohol was present in these comments, especially among women. The findings suggest that the economic crisis in Argentina led to major changes in patterns of drinking that differed according to gender roles and other demographic variables. The long-term effects of these changes remain to be determined as economic circumstances improve.

  3. 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

  4. "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…

  5. The Psichology Behind The Economic Crisis

    OpenAIRE

    Amalia PANDELICA; Ionut PANDELICA

    2010-01-01

    This paper is an extensive analysis of bought international business press and academic literature in the field about crisis management and related fields. The paper is grounded on the premise that the psychology of the crisis is an important component of the present international context and psychological factors play an important part in the alteration of consumer’s behavior. The question that generated our research approach in such conditions was at what extent peoples’ behavior is determi...

  6. Overview of reaction to the economic crisis in construction and real estate modelling

    OpenAIRE

    Petrošius, Jonas; Kelpšienė, Loreta

    2010-01-01

    This paper analyzes general economic crisis and its effect on industry. Construction sector while being a mediator between production and service sectors makes impact on both of them; one new immediate workplace on a construction site incites the establishing of two or more workplaces in other industry branches. After the bursting of the real estate bubble the effects of crisis on construction and real estate sectors are very tangible both in the world and in Lithuania. Companies whose work i...

  7. How do Economic Crises Impact Firm Boundaries?

    DEFF Research Database (Denmark)

    Foss, Kirsten

    2010-01-01

    How economic crises impact the boundaries of firms has been offered virtually no attention in the literature on the theory of the firm. I review the best-known theories of the firm and identify the variables that matter for the explanation of firm boundaries. I then examine how an economic crisis...... may impact these variables and change efficient firm boundaries. The various theories of the firm have difficulties explaining how firms efficiently adapt their boundaries to such prominent characteristics of economic crisis as declining demand and increased costs of external finance. However, all...... these theories stress uncertainty as an antecedent of firm organization, and as uncertainty is also an important characteristic of an economic crisis I examine how uncertainty is allowed to play out in the various theories in order to identify what predictions we can derive from the theory regarding changes...

  8. Financial Crisis and Economic Restructuring in Southeast Asia

    Directory of Open Access Journals (Sweden)

    Yul Kwon

    1998-06-01

    Full Text Available The hidden inner structural problem with the rapid growth of economy was exposed after the financial crisis and South-East Asia is facing serious economic crisis. Currently, the core of the financial crisis is the low function of financial system, so to make the financial department normal by rebuilding the untrue financial system is the problem we are facing. If our financial sector delay the structural adjustment and continue to be competitive in credit, the insolvent debenture will soar. Enterprise and financial institute closed one after another, causing economic collapse and the vicious circle. Accordingly, in order to overcome the current South-East Asia financial crisis, countries there put their focus on the rebuilding of financial system and under the financial system of IMF (International Monetary Foundation, they are doing economic adjustment in large-scale. This thesis studied the nature and features of the Asian financial crisis, and analyzed the main direction and feature of financial policy under IMF. Especially it analyzed the current situation in different countries for this adjustment, and researched the result of the economical reform after this financial crisis.

  9. The Crisis in Economic Theory: A Review Essay

    OpenAIRE

    Hoover, Kevin D.

    2015-01-01

    The Great Recession and the financial crisis of 2007-09 prompted ca lls for fundamental reforms of economic theory. The role of theory in economics and in recent economic events is considered in light of two recen t books: the sociologist Richard Swedberg's The Art of Social Theory and the economist André Orléan's The Empire of Value: A New Foundation for Economics.

  10. 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.

  11. 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.

  12. 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.

  13. Do Crisis Response Operations Affect Political and Economic Stability?

    Science.gov (United States)

    2003-05-01

    military presence itself actually affects overall levels of political and economic stability is still an open question. We look at the following two...relationship between military actions and political and economic stability . In this paper, we focus only on the crisis response piece of the overseas presence issue.

  14. 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…

  15. 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…

  16. Business Recovery Strategies in the Economic Crisis of Recession ...

    African Journals Online (AJOL)

    This paper examines Nigeria's theoretical economic foundation, the consequence of recession generally and specifically on the Gross Domestic Product (GDP) growth rate (2008-2010) and on companies together with customers reaction. Business recovery strategies for an upturn over the economic crisis of recession in ...

  17. 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.

  18. Financial and Economic Crisis and Corporate Finance Development

    Institute of Scientific and Technical Information of China (English)

    LI Xinhe

    2015-01-01

    Financial and economic crisis has challenged the ideological and methodological basis,the basic assumptions and the universal applicability of the research conclusions of the mainstream corporate finance.In order to construct corporate finance appropriate to the state of financial crisis,it is necessary to adjust the objective function of corporate finance,modify the corporate financing theory,extend corporate investment theory,enrich corporate working capital management theory,and adjust corporate dividend policy theory.

  19. Evidence of Added Worker Effect from the 2008 Economic Crisis

    OpenAIRE

    Ayhan, Sinem H.

    2015-01-01

    This paper contributes to the research on interdependencies in spousal labor supply by analyzing labor supply response of married women to their husbands' job losses ("added worker effect"). It empirically tests the hypothesis of added worker effect relying on a case study on Turkey during the global economic crisis of 2008. Identification is achieved by exploiting the exogenous variation in the output of male-dominated sectors that were hit hard by the crisis and the high degree of gender se...

  20. Impact of the effect of economic crisis and the targeted motorcycle safety programme on motorcycle-related accidents, injuries and fatalities in Malaysia.

    Science.gov (United States)

    Law, T H; Umar, R S Radin; Zulkaurnain, S; Kulanthayan, S

    2005-03-01

    In 1997, a Motorcycle Safety Programme (MSP) was introduced to address the motorcycle-related accident problem. The MSP was specifically targeted at motorcyclists. In addition to the MSP, the recent economic recession has significantly contributed to a reduction of traffic-related incidents. This paper examines the effects of the recent economic crisis and the MSP on motorcycle-related accidents, casualties and fatalities in Malaysia. The autocorrelation integrated moving average model with transfer function was used to evaluate the overall effects of the interventions. The variables used in developing the model were gross domestic product and MSPs. The analysis found a 25% reduction in the number of motorcycle-related accidents, a 27% reduction in motorcycle casualties and a 38% reduction in motorcycle fatalities after the implementation of MSP. Findings indicate that the MSP has been one of the effective measures in reducing motorcycle safety problems in Malaysia. Apart from that, the performance of the country's economy was also found to be significant in explaining the number of motorcycle-related accidents, casualties and fatalities in Malaysia.

  1. 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.

  2. 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...... then this convergence is, in turn, having a marked impact on social work education and practice. Today it would appear that, to varying degrees, European social workers are driven by ever-growing managerialist objectives. Juxtaposed is the shift towards consumerism and individualism, which is manifested through various...

  3. Impact of Global Financial Crisis on Nigerian Stock Market

    African Journals Online (AJOL)

    DrNneka

    Key words: Global financial crisis, Nigerian stock market, currency crisis, ... drop in all economic indices over a relatively short period of time leading to corporate .... magnitude and many countries with sound fundamentals also plunged into a ...

  4. LIBOR: Origins, economics, crisis, scandal, and reform

    OpenAIRE

    Hou, David; Skeie, David

    2014-01-01

    The London Interbank Offered Rate (LIBOR) is a widely used indicator of funding conditions in the interbank market. As of 2013, LIBOR underpins more than $300 trillion of financial contracts, including swaps and futures, in addition to trillions more in variable-rate mortgage and student loans. LIBOR's volatile behavior during the financial crisis provoked questions surrounding its credibility. Ongoing regulatory investigations have uncovered misconduct by a number of financial institutions. ...

  5. The role of negotiated developer obligations in financing large public infrastructure after the economic crisis in the Netherlands

    NARCIS (Netherlands)

    Gielen, Demetrio Munoz; Lenferink, Sander

    2018-01-01

    The economic crisis that started in 2009 has negatively impacted in the Netherlands the available financial resources for urban development. Dutch municipalities struggle since then with falling local financial sources, especially since active public land policy, traditionally an important

  6. Diaspora Impact on the Capacity for Recovery from Conflict and Crisis

    International Development Research Centre (IDRC) Digital Library (Canada)

    Diaspora Impact on the Capacity for Recovery from Conflict and Crisis ... social and economic processes at the household, community and state level; the effects of ... strengthen diaspora research networks, and generate evidence-based, ...

  7. [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.

  8. Considerations on the Impact of the Global Financial Crisis on Economies from Eastern Europe

    Directory of Open Access Journals (Sweden)

    Lucian Belașcu

    2016-01-01

    Full Text Available The paper investigates the causes and consequences of the 2007-2008 global financial crisis on five Eastern European countries, namely the Czech Republic, Hungary, Poland, Romania and Russia, with the purpose of identifying the common points and the differences between these economies in terms of crisis impact, with an accent on their capital markets. Our findings indicate that although the countries under scrutiny have displayed somehow different paths of economic development before the crisis, they were affected, to a higher or smaller extent, by the financial crisis. Also, the crisis was felt in these countries, at least in terms of impact on capital markets, with different lags: in some of these countries the crisis hit at beginning of 2008, while in others signs of the crisis were visible only towards the end of 2008.

  9. Complex economic dynamics: Chaotic saddle, crisis and intermittency

    International Nuclear Information System (INIS)

    Chian, Abraham C.-L.; Rempel, Erico L.; Rogers, Colin

    2006-01-01

    Complex economic dynamics is studied by a forced oscillator model of business cycles. The technique of numerical modeling is applied to characterize the fundamental properties of complex economic systems which exhibit multiscale and multistability behaviors, as well as coexistence of order and chaos. In particular, we focus on the dynamics and structure of unstable periodic orbits and chaotic saddles within a periodic window of the bifurcation diagram, at the onset of a saddle-node bifurcation and of an attractor merging crisis, and in the chaotic regions associated with type-I intermittency and crisis-induced intermittency, in non-linear economic cycles. Inside a periodic window, chaotic saddles are responsible for the transient motion preceding convergence to a periodic or a chaotic attractor. The links between chaotic saddles, crisis and intermittency in complex economic dynamics are discussed. We show that a chaotic attractor is composed of chaotic saddles and unstable periodic orbits located in the gap regions of chaotic saddles. Non-linear modeling of economic chaotic saddle, crisis and intermittency can improve our understanding of the dynamics of financial intermittency observed in stock market and foreign exchange market. Characterization of the complex dynamics of economic systems is a powerful tool for pattern recognition and forecasting of business and financial cycles, as well as for optimization of management strategy and decision technology

  10. Impact of the crisis on working conditions

    OpenAIRE

    Van Gyes, Guy; Szekér, Lise

    2013-01-01

    The economic and financial crisis is affecting working conditions across EU Member States and Norway in different ways and scope. Yet the pattern is of less work, reduced overall working time, less overtime, rising job insecurity, less choice for workers, wage freezes and wage cuts. There is also greater work intensity, deterioration of work–life balance, increasing stress at work, greater risk of harassment/bullying, less absenteeism, growth in the informal economy and changes to migration p...

  11. The demographic response to economic crisis in historical and contemporary populations.

    Science.gov (United States)

    Lee, R

    1990-01-01

    A review of the impact of economic fluctuations on demographic factors suggests remarkable similarities between the pre-20th century experience of European populations and the current experience of poor developing countries. Studies of pre-industrial European population consistently show a negative association of both nuptiality and marital fertility with grain prices and a positive mortality-price association in time of economic crisis. Mortality generally remains elevated for at least 2 years after the crisis, while fertility is lowest in the year following the crisis and then rebounds to above-normal levels before restabilizing. Recent data on major famines in Bangladesh and China, and on less catastrophic food production short falls or price increases of relatively brief duration in India, Japan, and Taiwan, allow further analysis of the impact of economic conditions. In all 5 scenarios, the timing effects are consistent with the pre-industrial European pattern. However, when the crisis is exceptionally severe (as in the case of China), the mortality response is more immediate. Overall, as Caldwell and Caldwell have hypothesized, increases in mortality and decreases in fertility are equally responsible for population loss in times of economic crises--although mortality plays a larger role in poorer settings. Even in the case of catastrophic events such as famine, the demographic response to an economic crisis rarely has a qualitatively important impact on population trends. For example, the massive famine of 1959-61 in China represented a loss of only a few years of natural increase. Studies of contemporary developed societies such as the US have produced contradictory findings. It is speculated that the research will eventually uncover a pattern of a decline in fertility and perhaps nuptiality after an economic crisis, but little effect on mortality.

  12. The Economic Crisis and Sustainable Development

    DEFF Research Database (Denmark)

    Lund, Henrik; Hvelplund, Frede

    2012-01-01

    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......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...

  13. 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.

  14. Greek economic crisis and impaired perinatal parameters: experience from a public maternity hospital.

    Science.gov (United States)

    Sdona, E; Papamichail, D; Ragkou, E; Briana, D D; Malamitsi-Puchner, A; Panagiotopoulos, T

    2017-07-04

    Since 2008, Greece suffers a severe economic crisis. Adverse health outcomes have been reported, but studies on perinatal health are sparse. We aimed to examine the impact of economic crisis on perinatal parameters during early and established crisis periods. Birth records of 14 923 neonates, born in a public maternity hospital from 2005-2014, were reviewed for maternal (age, delivery mode) and neonatal (gender, birthweight, gestational age) variables. Univariable analysis tested the association of study variables with time-periods 2005-2007, 2009-2011 and 2012-2014. Multivariable logistic regression analysis identified factors independently associated with low birthweight (LBW) (period, independently of maternal age. In conclusion, impaired perinatal parameters, manifested by increasing maternal age, LBW, prematurity and CS rate, were observed during the years of economic decline, with possible adverse consequences for later health.

  15. Some theoretical and practical lessons to be learnt from Romania economic crisis challengesin Romania

    Directory of Open Access Journals (Sweden)

    Gheorghe ZAMAN

    2011-12-01

    This paper herein will analyze, in short, a few of the theoretical, methodological, practical and implementation challenges brought about by the crisis in Romania, as well as the likely ways to prevent, mitigate impacts and resist to its shocks or to go back to the path of a sustainable economic growth.

  16. 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…

  17. Neighborhood decline and the economic crisis : an introduction

    NARCIS (Netherlands)

    van Kempen, Ronald; Bolt, Gideon; van Ham, Maarten

    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

  18. The Price Evolution in the Context of Economic Crisis

    Directory of Open Access Journals (Sweden)

    Doriana Andreea Rămescu

    2017-03-01

    Full Text Available The economic crisis is a negative macroeconomic phenomenon with consequences both at European Union level and worldwide. The main objective of this paper is to analyse the variation of price levels in Romania, during the economic crisis until the end of 2015, compared with the Member States of the European Union and the countries of the European Free Trade Association. For this research, information provided by EUROSTAT was used, such as price level indices for actual individual consumption per capita, and for different goods and services, calculated based on purchasing power parity. The aim is to identify solutions to rising living standards, compared with more developed countries of the European Union. This paper presents possible solutions for avoiding a future economic crisis, caused by overconsumption. The paper is divided into four sections: introduction, part two which presents aspects of the economic crisis in Romania and in the European Union, the third part presents price level indices for different products and services in 2015, and the last part, the conclusions of the research.

  19. Dividing united Europe. Stereotypes, prejudices and the European (economic) crisis

    NARCIS (Netherlands)

    Sierp, Aline; Karner, Christian

    2017-01-01

    This special issue brings together scholars who examine the nexus between the (economic) crisis, national identities and the use of historical images, prejudices and stereotypes by focusing particularly on media and political discourses in different European countries. Pictures of Angela Merkel in a

  20. 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...

  1. [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.

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

    Directory of Open Access Journals (Sweden)

    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.

  3. Long-Term Fundamentals of the 2008 Economic Crisis

    OpenAIRE

    David Mayer-Foulkes

    2009-01-01

    The current economic crisis has long-term causes that are rooted in the economic dynamics of globalization. I construct a Solow-style endogenous model of capital accumulation, technological change, trade and cheap-factor-seeking foreign direct investment (FDI), based on myopic agents. Combining advanced technologies with low costs, FDI yields extraordinary profits that generate asymmetric innovation incentives that explain the following stylized facts. Globalization (a) increases capital accu...

  4. The current economic and financial crisis: a gender perspective

    OpenAIRE

    Antonopoulos, Rania

    2009-01-01

    Widespread economic recessions and protracted financial crises have been documented as setting back gender equality and other development goals in the past. In the midst of the current global crisis--often referred to as "the Great Recession"--there is grave concern that progress made in poverty reduction and women's equality will be reversed. Indeed, for many developing countries it is particularly worrisome that, through no fault of their own, the global economic downturn has exacerbated ef...

  5. The Economic Crisis Seen from Israel: Cause and Effect

    Directory of Open Access Journals (Sweden)

    Lily Polliack

    2010-03-01

    Full Text Available The paper indicates a correlation between the economic crisis and America's Middle East policy. It contends that the protracted war effort in Iraq and Afghanistan have crippled the US national economy to a degree that only if the US changes its approach to Middle East conflict, will it be able to reduce the federal budget deficit, a necessary step towards economic recovery.

  6. 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.

  7. Effects of the economic crisis on smoking prevalence and number of smokers in the USA.

    Science.gov (United States)

    Gallus, Silvano; Ghislandi, Simone; Muttarak, Raya

    2015-01-01

    Scanty and controversial information is available on the impact of macroeconomic fluctuations on smoking behaviour. No study has quantified the effects of fiscal crises on smoking prevalence. This study aimed to investigate the effects of the 2007-2008 economic crisis on smoking prevalence and number of smokers in the USA. Using data from the repeated Behavioural Risk Factor Surveillance System (BRFSS) surveys in pre-crisis (2005-2007) and post-crisis (2009-2010) periods on a total of 1,981,607 US adults, we separated the expected (after allowance for the demographic growth of the US population, secular smoking prevalence trends and changes in sociodemographic characteristics) from the unexpected (assumed attributable to the economic crisis) changes in the number of smokers across different employment statuses. Joinpoint regression analysis revealed no significant changes in smoking prevalence trends over the period 2005-2010. The crisis resulted in an increase in the number of smokers in the US by 0.6 million. This is largely due to an unexpected decrease of 1.7 million smokers among employed and an increase of 2.4 million smokers among unemployed individuals, whose smoking prevalence also remains extremely high in the post-crisis period (32.6%). The 2008 financial crisis had a weak effect on smoking prevalence. The pro-cyclical relationship (ie, the crisis results in a lower number of smokers) found among the employed is offset by the counter-cyclical relationship (ie, the crisis results in a higher number of smokers) found among unemployed individuals. Public health interventions should specifically target those in unemployment, particularly in hard times. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  8. Child Health and the 1988-92 Economic Crisis in Peru

    OpenAIRE

    Paxson, Christina; Schady, Norbert

    2004-01-01

    The effect of economic crises on child health is a topic of great policy importance. The authors use data from the Demographic and Health Surveys (DHS) to analyze the impact of the profound 1988-92 economic crisis in Peru on infant mortality and anthropometrics. They show that there was an increase in the infant mortality rate of about 2.5 percentage points for children born in late 1989 ...

  9. Socio-cognitive Elaborations and Reactions to Economic Crisis: Insights from Social Psychology

    Directory of Open Access Journals (Sweden)

    Stamos Papastamou

    2018-01-01

    Full Text Available This special issue dedicated to the social psychological study of the economic crisis in four European Union countries along the Mediterranean includes six empirical papers discussing different aspects of the phenomenon. Four papers are part of a larger project that started in 2011, aiming to compare the social representations of the economic crisis in France, Greece, Italy, and Portugal. Starting from the study of the social representations of the causes of the crisis and the measures to overcome it, various social psychological parameters that interfere are examined. Thus, the political, ideological, and social positioning, and the axiological universe of the participants are considered as important predictors and mediators in the different papers. Additionally, possible political participatory activities in reaction to the crisis are considered. The presentation of the outcome of this research project is completed by a paper analyzing the way the crisis was depicted in the Italian press and a paper looking at the impact of the financial threat to political participation in France. The research presented here reveals the ways social subjects give meaning to a situation of crisis and thus provides social and political insights into social thinking and behavior with important policy implications for individual nations as well as Europe at large. In this paper, we present the general framework of the studies carried out and we introduce the collection of empirical papers of the special issue.

  10. 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.

  11. 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

  12. 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.

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

    Directory of Open Access Journals (Sweden)

    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.

  14. Changes in VAT rates during the economic crisis

    Directory of Open Access Journals (Sweden)

    Jan Široký

    2011-01-01

    Full Text Available To solve the current economical crisis, there are used various tools of economic policy. Some of them are changes in taxes, particularly changes in the value added tax due to its importance.Value added tax is the most harmonized tax in the single internal market of the European Communities. Although community law defines the basic legal constraints of VAT rules in individual countries, the Council Directive 2006/112/EC on the common system of value added tax, as amended, leaves some areas open for the Member States. One of the main characteristics of VAT is its tax rates which are – while maintaining specified minimal borders – in competency of Member States.Paper illustrates and evaluates the changes in tax rates of individual Member States during the economic crisis and points to their context and consequences.

  15. Crisis in the health sector: Impact on nurses' working conditions.

    Science.gov (United States)

    Granero-Lázaro, Alberto; Blanch-Ribas, Josep M; Roldán-Merino, Juan Francisco; Torralbas-Ortega, Jordi; Escayola-Maranges, Ana María

    In a context of economic crisis and policies to reduce the public deficit, the budgets of the Catalan Health Institute (CHI) were cut by 15.33% between 2010 and 2014. To assess the perceived impact on nurses' work conditions of measures to contain health spending. The study design was descriptive and transversal. A sample of 1,760 nurses from the province of Barcelona answered a questionnaire on the perceived impact of health spending containment measures implemented in their workplace during the early years of the crisis. Among the main aspects of the perceived impact of these measures, 86.6% of the nurses identified a pay cut and an increase in the following relevant parameters of their working conditions: number of hours worked (66.7%), final ratio of treated patients (35.2%), task complexity and workload (75.3%), rotation through various departments (31.5%), work shifts (21.4%) or work areas (23.4%), job insecurity (58.4%) and loss of employment by dismissal (6.6%) or non-renewal of contract (9%). The perceived impact of the crisis showed a triple negative component: Pay cut, work overload and job insecurity. As a combined effect of this multiple trend, the nurses acknowledged a deterioration in their working conditions and quality of working life. Copyright © 2017 Elsevier España, S.L.U. All rights reserved.

  16. Tourism Impact in Romania Pre and Post Crisis- Evolution, Analyses and Previsions

    OpenAIRE

    Bulin Daniel; Stanciulescu Gabriela; Gheorghe Georgicã

    2012-01-01

    Tourism industry is the strongest economy in the world. Romania is based on a high tourism potential. The economic crisis has also affected tourism, but the sector's characteristics made possible adjustments in order to maintain a satisfactory level of indicators. This paper aims to analyze the evolution of tourism's impact on the Romanian economy and a series of indicators of tourism traffic in the context of global economic crisis. The paper is structured as follows: an introductory, analys...

  17. SOCIAL COSTS OF THE EUROPEAN UNION IN THE CONTEXT OF THE ECONOMIC-FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    Andreea Gradinaru

    2013-12-01

    Full Text Available The start of the financial crisis in mid-2007 at a global scale had a major impact on the European Union’s economy. All member states have been economically affected, but the social effects were mainly of large amplitude. This paper focuses precisely on analysing the social costs which the economic-financial crisis has generated in the European Union. After finishing the study we have noticed that numerous social consequences of the recession have manifested intensely since the beginning of the crisis and continue to do so even today. These consist in the increase of poverty and social exclusion, rise in unemployment, decrease in birth rate, changes regarding the migration process, reduction in income, excessive indebtedness, the disparities between countries contributing to the augmentation of all these.

  18. THE IMPACT OF THE GLOBAL FINANCIAL CRISIS ON ALGERIAN ECONOMY

    Directory of Open Access Journals (Sweden)

    Zeyneb GUELLIL

    2015-04-01

    Full Text Available The Global Economic Crisis and 2008 financial crisis, is considered by many economists the worst financial crisis since the Great Depression of the 1930s , The financial crisis, brewing for a while, really started to show its effects in the middle of 2007 and into 2008. It is a situation where macro indicator like economic growth rate fall in most countries across the world. “Although economists largely failed to predict this global economic seismic shock, they have since made up for their oversight by generating a large and growing literature explaining the crisis.” In this discussion paper explores what happened and what issues arise from the Global Financial Crisis on the global economy and the Algerian economic in particular.

  19. 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.

  20. ECONOMIC CRISIS AND FOREIGN DIRECT INVESTMENTS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    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.

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

    Directory of Open Access Journals (Sweden)

    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

  2. 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...

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

    Directory of Open Access Journals (Sweden)

    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.

  4. 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.

  5. China's energy consumption under the global economic crisis: Decomposition and sectoral analysis

    International Nuclear Information System (INIS)

    Li, Fangyi; Song, Zhouying; Liu, Weidong

    2014-01-01

    It is now widely recognized that there is a strong relationship between energy consumption and economic growth. Most countries′ energy demands declined during the economic depression of 2008–2009 when a worldwide economic crisis occurred. As an export-oriented economy, China suffered a serious exports decline in the course of the crisis. However, it was found that energy consumption continued to increase. Against such a background, this paper aims to assess and explain the factors causing the growth of energy consumption in China. First, we will explain the impact of domestic final use and international trade on energy consumption by using decomposition analysis. Second, embodied energy and its variation across sectors are quantified to identify the key sectors contributing to the growth. Lastly, the policy implications for long-term energy conservation are discussed. The results show that the decline in exports was one of the driving forces for energy consumption reduction in the crisis, but that the growth of domestic demand in manufacturing and construction, largely stimulated by economic stimulus plans, had the opposite effect on energy consumption. International trade contributed to decreasing energy consumption of China during and after the crisis because the structure of exports and imports changed in this period. - Highlights: • We analyze the reasons for China's energy consumption change under the global economic crisis during 2007–2010. • Domestic final use growth, especially in construction and manufacturing of machinery and equipment, resulted in energy consumption increase. • International trade is identified as a driver of energy consumption reduction during and after the crisis. • Increasing China's share of consumption or reducing its share of investment in the GDP can reduce national energy intensity

  6. 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.

  7. EL IMPACTO DE LA CRISIS DEL PETRÓLEO DE 1973 EN EL CONTEXTO ECONÓMICO ESPAÑOL = THE OIL CRISIS OF 1973 AND ITS IMPACT IN THE SPANISH ECONOMIC CONTEXT

    Directory of Open Access Journals (Sweden)

    José María Lorca Alcalá

    2014-05-01

    Full Text Available La crisis del petróleo de 1973 después del corte de suministro de la OPEP a raíz de la guerra de Yom Kippur (octubre de 1973 afecta especialmente a nuestro país tradicionalmente consumidor de altos niveles de energía y una predisposición gubernamental a mantener sus precios bajos. Los documentos manejados pertenecen al Ministerio de Industria y a partir de ellos comprobamos el interés por absorber la crisis vía presupuestos, a través del superávit de la balanza de pagos y garantizando un precio bajo al fuel-oil.The oil crisis in 1973 after the outage of OPEC following the Yom Kippur War (October 1973 particularly affects our country traditionally high consumer of energy and with a government willingness to keep prices low. Handled documents belong to the Ministry of Industry and checking them we observe the target to absorb this situation via budget crisis, through the surplus of the balance of payments and ensuring low fuel oil price.

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

    Directory of Open Access Journals (Sweden)

    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

  9. 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.

  10. GLOBAL CRISIS: SEARCHING THE ORIGINS BY BUSINESS ECONOMICS

    OpenAIRE

    POLLIFRONI Massimo

    2012-01-01

    Aim and topic of the paper is to research the causes of the current global crisis, which manifests itself in financial terms, but whose origin is due to the ethical model of reference: the question is evident both in macroeconomics and in Business Economics. Just from this last point of view, the article will attempt to highlight what should be the correct drivers of ethical management for companies oriented towards an internationalization of their business.

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

    Directory of Open Access Journals (Sweden)

    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.

  12. Fulfilling the Kyoto protocol in Spain: A matter of economic crisis or environmental policies?

    International Nuclear Information System (INIS)

    Zafrilla, Jorge Enrique; López, Luis Antonio; Cadarso, María Ángeles; Dejuán, Óscar

    2012-01-01

    In 2008, Spain exceeded by 20.9% the CO 2 emissions allowed by the Kyoto Protocol for 2012. The financial and economic crisis has transformed these figures: as production fell so did energy demand and with it CO 2 emissions. Will the Spanish economic crisis allow Spain to fulfill its commitments? With this in mind, we have developed an extended input–output model able to forecast energy demand and compute CO 2 emissions linked to the consumption of energy goods: petroleum products, gas and coal. The results show that the crisis, and in particularly, the stagnation of the construction industry, is only one of the pillars which help to contain these emissions at −6.81%. The possibility of incorporating environmental policies, new technologies and increases in the price of crude oil in these simulations, means an even greater reduction of emissions than the impact of the crisis (−9.76%). The final result of our most pessimistic/realistic scenario is that, in 2012, Spain will exceed its CO 2 emissions, linked to the combustion of energy goods, by only 0.9%. - Highlights: ► We use an extended input–output model to forecast the evolution of CO 2 emissions. We evaluate the economic crisis impact on emissions figures (2008–2012). ► The environmental policies are introduced by considering structural trends. ► In our reference scenario, Spain exceeds Kyoto commitments only by 0.9% in 2012. ► The 16.6% emissions reduction is explained by trends (−9.8%) and crisis (−6,8%).

  13. Economic crisis and blood donation: How are donors' motivations changing?

    Science.gov (United States)

    Alfieri, Sara; Guiddi, Paolo; Marta, Elena; Saturni, Vincenzo

    2016-06-01

    The economic crisis has exasperated people's feelings of loneliness; job instability often does not allow people to commit to voluntary work. The present work proposes to examine whether the motivations to donate blood have changed before and during the period of economic crisis, taking into consideration donors' gender. We adopted Omoto & Snyder's functionalist approach, which states that blood donation serves different functions for any one person, who may have different motivations from those held by other people. We compared six-year pre-post (t1 "pre-crisis": 2008 - t2 "during the crisis": 2014) data on a sample of blood donors in a single blood donation center situated in Northern Italy. T-test was used for data analysis. Three hundred thirty donors (age range 18-60, M = 32.6, SD = 9.53; 54.5% male) were administered a survey at t1 and 444 (age range 18-60, M = 37.8, SD = 10.16; 68% male) six years later at t2. In both surveys, participants were administered a questionnaire with socio-demographic items and a version of Omoto & Snyder's Motivations to Volunteer scale adapted to blood donation. Donors' motivation priorities did not vary over time. Values and Self-enhancement motivations are the most prevalent. Knowledge and Ego-protection motivations decreased with the upsurge of the crisis. Women, in general, report higher mean values than men do for Values and Ego-protection motivations. These results can offer valuable clues for the agencies that manage blood collection. Copyright © 2016. Published by Elsevier Ltd.

  14. THE IMPACT OF THE CRISIS ON THE QUALITY OF LIFE AND SOLUTIONS TO REDUCE THE CRISIS EFFECTS. CASE STUDY: ROMANIA

    Directory of Open Access Journals (Sweden)

    Fora Andreea

    2011-07-01

    Full Text Available The economic crisis creates a series of consequences such as loss of jobs, reducing wages, insecurity of the population, reducing standard of living, material hardships, low self-confidence and hope for the better, illnesses, altered human relationships, social protests, ever greater scale strikes, in other words, deterioration of the economic environment. This paper aims to identify possible solutions to improve the effects of the crisis on the quality of life, based on figures from surveys conducted by research firms and the possible correlations to be made between these dates, without attempting to consider that these solutions are unique or the best. The main indicators considered for identifying the negative aspects of the crisis among the population are: the evolution of unemployment, changes in gross domestic product or wage developments in the economy and the share of expenditure linked to the basic needs out of the income earned. Regarding the possible solutions to reduce the population crisis, they are closely related to the credit and monetary policy, and also to the budgetary policy. Under the impact of the economic crisis, the business environment in Romania has suffered. Sub impactul crizei economice, mediul de afaceri din Romania a avut de suferit. Since most investments in 2008 were of foreign origin, the fact that this crisis has affected Romania as well did not surprise anyone. Nowadays Romania's business climate is characterized by lack of direct foreign investments and self funding sources whereas the population declares itself in a large proportion -more than 50% - to be affected by the crisis (1. Effects of the crisis can also be observed in the evolution of consumers' behavior who fearing layoffs and declining revenue, not only turned to buying the same products or to purchase cheaper products, but also to reducing the amount of the purchased products. The quality of social life is essential and strongly related to

  15. 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.

  16. 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",…

  17. 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.

  18. The Vulnerability of SMES in the Economic Crisis

    Directory of Open Access Journals (Sweden)

    Nicolae ŢÂU

    2014-06-01

    Full Text Available The vulnerability of small and medium enterprises is closely related to their reduced volume of activity and insufficient financial resources available to them. Therefore, these types of organizations are more likely to be the subject of the changes that occur in the market. Although there are available a variety of funding sources, most SMEs in Romania are not able to access existing funds as they are not competitive on the single European market. During the economic crisis, the businesses environment but the economical one as well was not beneficial for the Romanian SMEs due to the financial, structural and fiscal instability, which led to negative results, especially on long term.

  19. Problems of Overcoming Market Failures in the Context of Economic Crisis in the Euro Area

    Directory of Open Access Journals (Sweden)

    Alexandra Y. Pluiko

    2014-01-01

    Full Text Available The article analyses the manifestations of a market failure problem revealed during the economic crisis in the euro area, namely business cycles, market inability to ensure money circulation and avoid inflation. It is shown that the cyclicity of economic development has revealed in various degrees of economic contraction and different rates of its recovery. These differences have been exacerbated by the new procyclical factors emerged from the transition to a single currency. As for money circulation the crisis has almost no impact on the single currency functioning: the euro has maintained its position on the world market and properly performed money functions in the domestic. The goal to achieve economic development without inflation in the euro area generally has been solved successfully by the European Central Bank (ECB. However, due to the fact that the ECB in its monetary policy does not pay sufficient attention to the increased inflation in small and relatively poor countries, the crisis has been more acute in them than in large countries with low inflation. The goals of ensuring money circulation and avoiding inflation can be settled more effectively in the euro area in case of more tight coherence in economic policy and strengthening of supranational mechanisms of economic governance.

  20. Dynamics in European Exports in Times of Crisis: The Impact on Growth at Home and Abroad

    Directory of Open Access Journals (Sweden)

    Janez Kren

    2015-06-01

    Full Text Available While the financial crisis of 2008-2009 led to the great collapse of international trade, the European debt crisis in 2010-2013 did not have such a drastic impact on trade. The collapse has been studied a lot in recent empirical literature, but the European debt crisis has not been investigated thoroughly yet. This paper looks into the impact of economic growth in European exporters and in their export destination markets on export performance as reflected in total export growth and growth in various export margins. Our findings point to an important role for both demand and supply side factors.

  1. 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.

  2. THE ROLE OF THE EUROPEAN FUNDING IN THE CONTEXT OF THE ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Liliana – Victoria GHERMAN

    2013-06-01

    Full Text Available The economic crisis from the last period significantly affected the business environment. Despite the progress registered by Romania in the last years, there are some important disparities in the field of competitiveness compared to the European Union member states. It is important to have adequate financial resources for the small and medium enterprises (SMEs and to increase the competitiveness.Companies may obtain European funds for investments in order to improve their activities, starting with the production facilities, procurement of IT equipment and modernization of the tourism infrastructure.The general objective of the Sectoral Operational Programme - “The Increase of Economic Competitiveness” (SOP IEC is to increase the productivity of the Romanian enterprises in order to comply with the European Union principles: long term development and decrease of the disparities.With the support of the European funds it can be reduced the negative impact of the economic crisis.

  3. 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.

  4. Economic impacts study

    Energy Technology Data Exchange (ETDEWEB)

    Brunsen, W.; Worley, W.; Frost, E.

    1988-09-30

    This is a progress report on the first phase of a project to measure the economic impacts of a rapidly changing U.S. target base. The purpose of the first phase is to designate and test the macroeconomic impact analysis model. Criteria were established for a decision-support model. Additional criteria were defined for an interactive macroeconomic impact analysis model. After a review of several models, the Economic Impact Forecast System model of the U.S. Army Construction Research Laboratory was selected as the appropriate input-output tool that can address local and regional economic analysis. The model was applied to five test cases to demonstrate its utility and define possible revisions to meet project criteria. A plan for EIFS access was defined at three levels. Objectives and tasks for scenario refinement are proposed.

  5. The impact of the 2008 financial crisis on dynamic productivity growth of the Spanish food manufacturing industry. An impulse response analysis

    NARCIS (Netherlands)

    Kapelko, Magdalena; Oude Lansink, Alfons; Stefanou, Spiro E.

    2017-01-01

    The emergence of a financial crisis is an event that can impact the fortunes of nearly all economic agents. The focus here is on the 2008 financial crisis and how firms' productivity growth was impacted by this crisis in the years that followed. This article focuses on dynamic productivity growth

  6. Finnish Highly Skilled Migrants and the European Economic Crisis

    Directory of Open Access Journals (Sweden)

    Koikkalainen Saara

    2017-10-01

    Full Text Available Europe is home to a globally unique area where the barriers of transnational migration have been largely removed. This article focuses on Finnish highly skilled, intra-European migrants and their labour market situation immediately following the economic crisis of 2008. Based on two consecutive online surveys (carried out in spring 2008 and summer 2010 of tertiary educated Finns living in other EU countries, the article examines the effects of the global economic downturn on the careers of these highly skilled migrants. Only 16 per cent of the respondents report that their labour market situation had worsened. A higher percentage (24% felt that their situation had improved and the majority (54% had either experienced no change in their situation or stated that their reasons for changing jobs or moving had nothing to do with the crisis. The article concludes that these migrants were protected from the full force of the crisis by their high human capital, flexibility of alternating between studying and work, employment in international workplaces and their intra-European migrant status.

  7. 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?”

  8. Labor Market Transitions of Men and Women During an Economic Crisis: Evidence from Indonesia

    National Research Council Canada - National Science Library

    Thomas, Duncan

    2000-01-01

    Indonesia is in the midst of a major financial, economic and political crisis. The immediate effects of the crisis on labor market outcomes are examined drawing on two rounds of the Indonesia Family Life Survey (IFLS...

  9. Stock markets and criticality in the current economic crisis

    Science.gov (United States)

    da Silva, Roberto; Zembrzuski, Marcelo; Correa, Fabio C.; Lamb, Luis C.

    2010-12-01

    We show that the current economic crisis has led the market to exhibit a non-critical behavior. We do so by analyzing the quantitative parameters of time series from the main assets of the Brazilian Stock Market BOVESPA. By monitoring global persistence we show a deviation of power law behavior during the crisis in a strong analogy with spin systems (from where this concept was originally conceived). Such behavior is corroborated by an emergent heavy tail of absolute return distribution and also by the magnitude autocorrelation exponent. Comparisons with universal exponents obtained in the international stock markets are also performed. This suggests how a thorough analysis of suitable exponents can bring a possible way of forecasting market crises characterized by non-criticality.

  10. 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.

  11. IMPACT OF THE FINANCIAL CRISIS UPON EASTERN EUROPE COUNTRIES: STILL A PROBLEM FOR THE ECONOMY OF THE REGION?

    Directory of Open Access Journals (Sweden)

    MIHAELA-ANDREEA STROE

    2011-04-01

    Full Text Available The paper looks at the impact of the global economic and financial crisis on a number of central, eastern and south-eastern European countries. The global crisis can be viewed as three interdependent and mutually reinforcing crises: a financial crisis, a liquidity crisis, and a crisis in the real economy. The financial crises that have emerged and developed in the recent decades have been characterized, mostly of an international dimension, with shocks quickly propagating through capital markets, through the international banking activities and, through the money markets.East Europe was hit first by the global liquidity crisis, then by declines in capital inflows and plunging demand for their exports.Before the crisis, the Eastern region was experiencing an economic boom with rapid GDP and credit growth, but in the future East European countries will have to rely relatively more on internally-generated sources of productivity growth.

  12. Neoclassical economic orthodoxy and the need for a new post-crisis economic paradigm

    Directory of Open Access Journals (Sweden)

    Andrei JOSAN

    2013-08-01

    Full Text Available Capitalism is a social adaptive system that evolve, change and grow in response to the challenges of a rapidly changing economic environment. When capitalism is seriously threatened by a systemic crisis, a new version much better adapted to existing conditions appears. Critical analysis of the fundamental ideas underlying neoclassical economic theory shows that the capitalist system is fundamentally a dynamic and therefore static neoclassical models proved to be unsuitable for studying it. Contrary to neoclassical economic vision, the capitalist economy is not governed by immutable economic laws. Global systemic crisis of capitalism that began in 2007 has highlighted the need for a new economic paradigm on which to be built and to be performed a new version of capitalism, in line with the increasingly complex realities of a globalized and quick changing world.

  13. The socio-economic drivers of bushmeat consumption during the West African Ebola crisis.

    Science.gov (United States)

    Ordaz-Németh, Isabel; Arandjelovic, Mimi; Boesch, Lukas; Gatiso, Tsegaye; Grimes, Trokon; Kuehl, Hjalmar S; Lormie, Menladi; Stephens, Colleen; Tweh, Clement; Junker, Jessica

    2017-03-01

    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.

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

    Directory of Open Access Journals (Sweden)

    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.

  15. Oil: economics and politics. Preliminary considerations on the Gulf Crisis

    International Nuclear Information System (INIS)

    Ayoub, A.

    1991-01-01

    Oil price fixing politics are first reviewed (existence of a floor price and of a maximum price, independently of economical consideration). In fact, geopolitical consideration are of premium importance in the oil demand/supply evolution. The Gulf Crisis and its surroundings (the Israel-Arab conflict) are revealing the supply and price logics of the oil market. An oil new order should be instaured through an OPEP restructuration and/or bilaterals relations and market dominance, organized by United States and Saoudi Arabia

  16. 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.

  17. 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.

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

    DEFF Research Database (Denmark)

    Murphy, Jonathan; Ackroyd, Stephen

    2013-01-01

    of financial institutions including private equity and hedge funds, and the effects of these on the various policies and priorities of the executive leaders of large businesses in such areas as human resource management and the adoption of new organisational forms. The discussion extends to the consideration......Purpose – The paper's aim is to consider the effects of recurrent economic crisis on the management and organisational structures of transnational companies based in the UK by considering contemporary evidence and scholarly views of the processes involved, and especially to consider...

  19. 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.

  20. [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. Copyright © 2014 SESPAS. Published by Elsevier Espana. All rights reserved.

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

    Directory of Open Access Journals (Sweden)

    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.

  2. Sustainability of the Organizational Changes in the Context of Global Economic Crisis

    Directory of Open Access Journals (Sweden)

    Armenia Androniceanu

    2012-06-01

    Full Text Available In recent years, as a result of the hastening economic crisis, the Romanian business environment has known important changes. This paper presents and analyzes the changes caused by globalization in small and medium enterprises that exports goods and services from Bucharest. The purpose of the research was to discover the impact of global crisis upon the concerned group of enterprises and the organizational changes implemented by them. Through the research we succeeded to identify the main problems that occurred in the target group enterprises in the context of global economic crisis and what caused the reduction in their developing rhythm. Another part of the paper contains an analysis of the managers perceptions regarding the governmental anti-crisis measures and strategic and tactical changes initiated by them as a natural need to adapt to the particularities of the internal and international business environment. The final part includes the conclusions of the research and a sum of recommendations for efficient management of organizational changes in target group enterprises, with the possibility of generalizing them to all Romanian small and medium enterprises.

  3. Book review: Alexandru Avram - Fiscal policies and economic growth during crisis

    Directory of Open Access Journals (Sweden)

    Aurelia Dumitru

    2015-10-01

    Full Text Available The Assistant Professor at West University of Timisoara Alexandru Avram is publishing at Sitech Publishing House, Craiova, a remarkable book, "The mix of fiscal and monetary policies – the impact upon the economic growth". The scientific research had previously been made for achieving the title in Doctor in Economic Sciences. The theme of the book is the identification of the measures of economic growth after the economic crisis at the end of 2007 and the impact of some fiscal and monetary measures and also the introduction of the taxing quotation, the decreasing of the interest of monetary policy, the increasing of VAT quotation from 19% to 24% upon some macroeconomic components. The book represents a valuable synthesis and a guide for those who are interested in the subject.

  4. Economic crisis promotes fertility decline in poor areas: Evidence from Colombia

    Directory of Open Access Journals (Sweden)

    Eleonora Davalos

    2017-09-01

    Full Text Available Background: The effects of an economic recession extend beyond financial spheres and spill over into present and future family decisions via income restrictions and expectations. Hardly any research on the effects of economic recession on fertility outcomes has taken place in developing countries. Objective: This study seeks to explain the effects of economic cycles on fertility outcomes in poor areas. Methods: This paper analyzes fertility trends from the third largest economy in Latin America - Colombia - from 1998 to 2013. We estimate a panel data regression model with state and year fixed effects. Results: On average, periods of recession are associated with fertility decline in poor areas and fertility growth in well-off areas. During an economic crisis, fertility in poor states decreases by 0.002 children per woman, while in well-off states fertility increases by 0.007 children per woman. Conclusions: The impact of an economic crisis on fertility varies depending on poverty. Poor states have procyclical responses while well-off states tend to have countercyclical reactions to economic downturns. Contribution: This study illuminates the procyclical and countercyclical debate, showing that within a country there can be two different responses to an economic downturn.

  5. 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…

  6. Global Financial and Economic Crisis and the EU Economic Governance Failure – Evidence From Spain

    Directory of Open Access Journals (Sweden)

    Iulia Monica Oehler-Șincai

    2012-10-01

    Full Text Available The process of public sector restructuring, known in the economic literature as the New Public Management (NPM, came to a deadlock as the global financial and economic crisis broke out in 2008. The expansion of cheap credit, market dereglementation and asset securitization, speculative bubbles, the mixture of euphoria, greed and even naivety and ignorance of the economic players outlined an international financial system which was not subordinated any more to the real economy, but to the own principles, similar to Ponzi schemes or casino rules (Posner, 2011, Kindleberger and Aliber, 2011, Rajan, 2010, Stiglitz, 2010, Roubini and Mihm, 2010. All these generated, at global level, the deepest recession after the Great Depression. The anti-crisis measures came without delay, but they did not produce the expected results. At the Euro Zone level, an almost immediate and direct effect of the crisis and the accompanying countercyclical fiscal measures was that of enhancing the fiscal burden for governments. The levels of fiscal deficit and the public debt as percentages of GDP substantially increased and, gradually, another crisis broke out: the Euro Zone sovereign debt crisis. As a result, at the level of the EU governance, in order for the authorities to be able to improve it, there were adopted distinct strategies, programs and instruments. In spite of the converging efforts at the EU as well as national levels, the majority of the countries in the Euro Zone were not able to find the right formula of restarting economic growth. The present analysis brings to the forefront Spain’s experience, which represents a clear example of governance (and NPM failure, as neither the countercyclical measures adopted for the recovery, in accordance with the keynesyan principles, nor the austerity packages that followed them were not able to induce the economic growth, so essential for diminishing unemployment.

  7. GLOBAL ECONOMIC CRISIS: EXPERIENCE OF TURKEY AS THE MODEL OF RECOVERY

    OpenAIRE

    NEVZAT TETIK

    2012-01-01

    Between the years 1820-2008, there have been many economic crises in the World. Each of the crises had different intensity, scope and dimension. 2008 global crisis also had distinctive features. Starting with U.S. financial crisis, with a domino effect of financial instruments, the crisis deepened and shifted to global dimension without any discontinuity. Effects of the 2008 global crisis, as countries could not reach financial balance and could not implement policies that would restart econo...

  8. Impact of CNG Crisis on Student's Academic Life

    Science.gov (United States)

    Azeem, Kiran; Nadeem, Wajiha; Zia, Afsa; Shehzad, Shiza; Anwar, Zara

    2017-01-01

    The goal of this study is to determine the impact of Compressed Natural Gas (CNG) crisis on Student's Academic Life of Karachi Pakistan. This research helps in observing the behavior of students and their educational progress includes depression and anxiety, rate of absenteeism and undesirable results in exams threatens due to CNG crisis and…

  9. 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 headaches remained unchanged over time (p > 0.05), while migraines decreased. Secondary and not otherwise specified (NOS) increased significantly (p 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 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.

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

    Directory of Open Access Journals (Sweden)

    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.

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

    OpenAIRE

    TRAIAN ALEXANDRU NASTASE

    2011-01-01

    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 c...

  12. Economic impact of refugees.

    Science.gov (United States)

    Taylor, J Edward; Filipski, Mateusz J; Alloush, Mohamad; Gupta, Anubhab; Rojas Valdes, Ruben Irvin; Gonzalez-Estrada, Ernesto

    2016-07-05

    In 2015, the United Nations High Commission for Refugees accommodated over 15 million refugees, mostly in refugee camps in developing countries. The World Food Program provided these refugees with food aid, in cash or in kind. Refugees' impacts on host countries are controversial and little understood. This unique study analyzes the economic impacts of refugees on host-country economies within a 10-km radius of three Congolese refugee camps in Rwanda. Simulations using Monte Carlo methods reveal that cash aid to refugees creates significant positive income spillovers to host-country businesses and households. An additional adult refugee receiving cash aid increases annual real income in the local economy by $205 to $253, significantly more than the $120-$126 in aid each refugee receives. Trade between the local economy and the rest of Rwanda increases by $49 to $55. The impacts are lower for in-kind food aid, a finding relevant to development aid generally.

  13. 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

  14. 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.

  15. The Global Economic Crisis: Setbacks to the Educational Agenda for the Minority in Sub-Saharan Africa

    Science.gov (United States)

    Ingubu, Moses Shiasha

    2010-01-01

    This paper captures the impact of the Global Economic Crisis on educational programs serving minority groups in developing countries. It has been established that the most vulnerable groupings include nomadic and pastoralist communities, slum dwellers, children in war zones, and women. Various educational interventions such as mobile schooling,…

  16. The radical right parties under the economic crisis: The Greek case

    NARCIS (Netherlands)

    Georgiadou, V.; Kafe, A.; Nezi, Roula

    2012-01-01

    Nowadays a new wave of socio-political disenchantment is emerging in most European countries due to the economic crisis. Exceptional examples among them are protest movements in Spain, Portugal, Greece, or even the UK. In the era of the economic crisis do the populist radical right parties continue

  17. 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.

  18. Consumption Behavior of Middle Strata in Times of Economic Crisis

    Directory of Open Access Journals (Sweden)

    Svetlana V. Mareeva

    2017-03-01

    Full Text Available Based on the data of national representative surveys carried out by IS RAS in 2014-2016, the author presents analysis of consumption specifics in middle-income groups in times of current economic crisis. It is shown that although in modern Russian society middle income groups make up the majority of population, they cannot be directly correlated with the middle class defined in class theory framework. Middle-income groups are heterogeneous in different aspects, including their consumption specifics. Their standard of living remains quite modest, although it is significantly higher than the “survival standard”. New economic conditions led to widespread economy practices among them - primarily on consumption, followed by economy on hobbies and vacations. Economy practices also seriously affected middle-income strata investments in human capital – usage of paid educational and health services (this type of economy was more widespread among lower middle-income group than higher. Although representatives of the middle-income strata are quite actively using paid medical services (and relatively rarely – paid educational services, the reason for this more often lies in inaccessibility of free analogues rather than in search for the higher quality. Process of durables renewal in middle strata during the crisis was not as active, but their standard set of durable goods still widened over the past two years - primarily due to the relatively complex technological durables that they are gradually transferred from the category of innovation goods to the extended standard. In this regard, the upper middle income group successfully performs the function of the innovative consumer.

  19. 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.

  20. The pharmacological cost of COPD during Greek economic crisis

    Directory of Open Access Journals (Sweden)

    Stafyla E

    2017-01-01

    Full Text Available Eirini Stafyla,1 Theodora Kerenidi,1 Irini Gerogianni,1 Mary Geitona,2 Zoe Daniil,1 Konstantinos I Gourgoulianis1 1Respiratory Medicine Department, University of Thessaly School of Medicine, University Hospital of Larissa, Larissa, 2Department of Social Policy, University of Peloponnese, Korithos, Greece Introduction: 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.Methods: 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.Results: 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].Conclusion: 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. Keywords

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

    Directory of Open Access Journals (Sweden)

    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.

  2. 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.

  3. THE IMPACT OF THE FINANCIAL CRISIS ON THE EUROPEAN BANKS

    Directory of Open Access Journals (Sweden)

    DAVID DELIA

    2012-07-01

    Full Text Available The fast innovations existent on financial markets and the internationalization of cash-flows in the last decade led to changes within the banking industry making it unrecognized. The financial innovation within the banking industry, especially the one regarding the off-balance-sheet instruments has effects as the risk focus and the increase of volatility within the entire banking industry. As it is proved by the economic crisis, the financial stability plays an important role within the financial system as well as within the economy as a whole. At the moment, as the number of active financial institutions is getting higher and higher in one or more countries or on one or more continents, the financial stability at a worldwide level became even more important. The objective of this work is to emphasize the way in which the European banks were affected once with the global financial crisis. The economic crisis was triggered by the bankruptcy of the Lehman Brothers ‘ Investment Bank, in the autumn of 2008 and its effects were felt at the level of the European financial markets, a series of cross-border groups claiming interventions of the state in order for them to be saved. The intensity of the crisis was felt and it affected many states, the impact of these ones being influenced by a series of specific factors which outlined the situation of their financial system, at the moment of the crisis release. At the level of the European Union, a series of measures have been established in order to extinguish the identified dysfunctions at a financial field level, among which we mention: the improvement of the surveillance framework of those financial institutions having cross-border activity, the expansion of the communication and cooperation among the EU surveillance authorities and the ones outside the Union, etc. The conclusions of the study of this paper work in regards to the activity of the main European banks, especially to the ones from

  4. Health impacts of rapid economic changes in Thailand.

    Science.gov (United States)

    Tangcharoensathien, V; Harnvoravongchai, P; Pitayarangsarit, S; Kasemsup, V

    2000-09-01

    The economic crisis in Thailand in July 1997 had major social implications for unemployment, under employment, household income contraction, changing expenditure patterns, and child abandonment. The crisis increased poverty incidence by 1 million, of whom 54% were the ultra-poor. This paper explores and explains the short-term health impact of the crisis, using existing data and some special surveys and interviews for 2 years during 1998-99. The health impacts of the crisis are mixed, some being negative and some being positive. Household health expenditure reduced by 24% in real terms; among the poorer households, institutional care was replaced by self-medication. The pre-crisis rising trend in expenditure on alcohol and tobacco consumption was reversed. Immunization spending and coverage were sustained at a very high level after the crisis, but reports of increases in diphtheria and pertussis indicate declining programme quality. An increase in malaria, despite budget increases, had many causes but was mainly due to reduced programme effectiveness. STD incidence continued the pre-crisis downward trend. Rates of HIV risky sexual behaviour were higher among conscripts than other male workers, but in both groups there was lower condom use with casual partners. HIV serosurveillance showed a continuation of the pre-crisis downward trend among commercial sex workers (CSW, both brothel and non-brothel based), pregnant women and donated blood; this trend was slightly reversed among male STD patients and more among intravenous drug users. Condom coverage among brothel based CSW continued to increase to 97.5%, despite a 72% budget cut in free condom distribution. Poverty and lack of insurance coverage are two major determinants of absence of or inadequate antenatal care, and low birthweight. The Low Income Scheme could not adequately cover the poor but the voluntary Health Card Scheme played a health safety net role for maternal and child health. Low birthweight and

  5. [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.

  6. 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.

  7. 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.

  8. 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.

  9. The socio-economic drivers of bushmeat consumption during the West African Ebola crisis.

    Directory of Open Access Journals (Sweden)

    Isabel Ordaz-Németh

    2017-03-01

    Full Text Available 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.

  10. 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.

  11. Impact of the subprime crisis on commercial banks’ financial performance

    Directory of Open Access Journals (Sweden)

    Fang Hao

    2013-01-01

    Full Text Available We investigated changes in the financial performance of representatives of the world’s top 200 commercial banks after the global subprime financial crisis. Our empirical results show that following the subprime-crisis disclosure, all commercial banks exhibited worse performance in asset quality, profitability, liquidity, and growth index, accompanied by risk increases in asset adequacy, managerial ability, profitability, and growth index. Developed markets have suffered a greater negative influence than emerging markets, causing downward pressure on asset adequacy, asset quality, and profitability since the subprime crisis. Commercial banks within developed nations suffered more direct pronounced effects from the subprime crisis than did those in emerging markets. Our results prove that larger commercial banks, particularly those with larger capitalization, have the economies-of-scale advantage to resist the negative effects of economic downturns.

  12. 1929 Dünya Ekonomi Krizi Ve Ulusal Ekonomiyi Güçlendirme Mücadelesinde Kadınlar The Impact Of 1929 World Economic Crisis On Turkey And Women In Bolstering National Economy

    Directory of Open Access Journals (Sweden)

    Doğan DUMAN

    2013-07-01

    Full Text Available After the independence war, Turkey went through some radicalpolitical and legal amendments. Despite the worst picture in economy,Turkey obtained significant successes as a result of the exuberance ofthe new Republic. However, the crisis which broke out first in the USAand then spread to the other capitalistic countries and which wasconsidered as the first major global crisis shook and had its deepreverberations in Turkey. The first impact was the devaluation of theTurkish currency. Secondly, the prices in theagriculture field droppedand affected the economy radically.Like many nations in a similar situation, Turkey planned toundergo a new economic policy and initiated a self sustaining policy.Hence, new measures were taken to encourage the nation to consumethe local products and to start saving. As a result, to implement thepolicy to use the local produce and to save as possible, a lot ofcampaigns were launched. Turkish women had a special mission in thisstruggle. Women who started to take their place sociallyandeconomically in the modernization process in Republic, had anactive role to bolster the national economy. This study aims athighlighting the major causes of the crisis, the impact on Turkisheconomy and the place of women in this struggle to overcome the crisis. Bağımsızlık savaşının kazanılmasından sonra Türkiye’de öncelikle köklü siyasal ve hukuksal değişiklikler gerçekleştirildi. Ekonomi alanında devralınan olumsuz tabloya rağmen ise, yeni bir devlet kurmanın verdiği coşkuyla ekonomik alanda da küçümsenmeyecek başarılar elde edildi. Fakat 1920’lerin sonunda önce Amerika Birleşik Devletleri’nde daha sonra diğer büyük kapitalist ülkelerde ortaya çıkan ve kapitalist dünyanın ilk büyük ekonomi krizi olarak nitelendirilen 1929 Dünya Ekonomi Krizi Türkiye’yi de derinden sarstı. Krizin Türkiye’ye ilk yansıması Türk lirasının hızlı bir değer kaybına uğraması şeklinde oldu. Ard

  13. Considerations regarding the Effects of Economic Crisis on Employee Communicational Behavior

    OpenAIRE

    Popescu Manoela; Crenicean Cecilia Luminita

    2011-01-01

    The economic crisis has caused significant changes in socio-economic entities strategies. In conclusion, firms were obliged to develop strategies for crisis as a result of their focus on customer, without understanding the customer as an employee. Moreover, strategic changes are not the result of company development, but as a direct effect of economic context. Otherwise, firms do not reflect the strategic communication behavior of their employees. Therefore, such a strategy may not be viable ...

  14. 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

  15. Facing the Global Economic Crisis: the Case of Swedish Heavy Vehicle Subcontractors

    OpenAIRE

    Helmersson, Andreas; Radway, Robert

    2010-01-01

    In this paper, we investigate organisational responses to an economic crisis within a group of seven subcontractors in the Swedish heavy vehicle industry. Although the participating firms had similar exposures to an abrupt and severe shift in demand, their performances during the crisis varied extensively. One year after the crisis began, some firms were still encountering financial problems threatening their survival, yet others had orchestrated a recovery that was generating healthy cash fl...

  16. The impact of the crisis on employment and the role of labour market institutions

    OpenAIRE

    Eichhorst, Werner; Escudero, Verónica; Marx, Paul; Tobin, Steven

    2010-01-01

    The paper takes a comparative perspective on the labour market impact on G20 and EU countries of the financial and economic crisis that began in 2008. It starts from the observation that the decline in employment and rise in unemployment in relation to output or GDP reductions varies significantly across countries. It examines the impacts from an institutional perspective taking into account different channels of external, internal and wage flexibility determined by both the institutional arr...

  17. Media and the Economic Crisis of the EU: The ‘Culturalization’ of a Systemic Crisis and Bild-Zeitung’s Framing of Greece

    Directory of Open Access Journals (Sweden)

    Yiannis Mylonas

    2012-07-01

    Full Text Available This article critically studies the hegemonic discursive construction of the EU’s current (2012 economic crisis, as it is articulated by political and economic elites and by mass media. The study focuses on the political economy of the particular crisis and through the critical concept of reification, the study emphasizes the hegemonic naturalization of the economic crisis by the “free market” economistic ideology. The article problematizes the positioning of Greece as the “crisis epicentre” in Europe, understanding Greece as a scapegoat and as a laboratory where political strategies of capitalist restructuring of the EU are performed. Through the frame analysis of Bild-zeitung’s headlines on the coverage of crisis-struck Greece, the article discusses a the “culturalization” of the crisis and the diversion from a structural public debate on the global economic crisis b the disciplinary function of crisis’ publicity, related to social control and the production of new, neoliberal social subjectivities c the alienating effect of the culturalist crisis discourses to transnational publics, resulting to the misrecognition of the ideological and structural reasons of the given crisis, the misrecognition of the effects of the crisis and crisis-politics in people’s lives, the misrecognition of popular socio-political struggles in countries worse struck by crisis politics, and the eclipse of transnational solidarity and identification to the common issues that European people in particular are facing.

  18. Off-Farm Employment and Economic Crisis: Evidence from Cyprus

    Directory of Open Access Journals (Sweden)

    Elias Giannakis

    2018-03-01

    Full Text Available Off-farm employment is an important strategy for complementing farm household income and maintaining rural livelihoods. A multilevel logistic regression model was applied to investigate the effect of farm-level and regional-level factors on off-farm employment in Cyprus during the recent economic crisis period. The performance of nonfarm sectors positively affects off-farm employment; a one-percent increase in the share of the secondary and tertiary sector employment increases the likelihood of off-farm work by 9.5 times. The importance of location was also identified. Farm households located in rural areas are 70% less likely to engage in off-farm work than households located in urban areas. The positive effect of educational attainment and the negative effect of farm training confirmed the importance of human capital characteristics on off-farm labour participation. Farm structural factors are also significant determinants of off-farm employment. A one-hectare increase in the farm size decreases the odds of off-farm labour participation by 50%. Operators of crop farming holdings are 4.2 times more likely to work off the farm than operators of livestock and mixed-farming holdings. The results reveal the importance of adopting a multilevel and integrated approach for the analysis of off-farm employment.

  19. GLOBAL ECONOMIC CRISIS: A VIEW FROM SOUTH AFRICA

    Directory of Open Access Journals (Sweden)

    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.

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

    Directory of Open Access Journals (Sweden)

    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.

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

    Directory of Open Access Journals (Sweden)

    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.

  2. Implementation of Basel III capital standards and challenges of global economic crisis

    Directory of Open Access Journals (Sweden)

    Ljubić Marijana

    2015-01-01

    Full Text Available Implementation of the standards of the Basel Committee on Banking Supervision is an important step towards improving banking. The author seek to illuminate the importance and necessity of introducing new Basel III capital standards, Basel Committee on Banking Supervision in the banks in Serbia and around the world. Implementation of Basel standards, as a general model for managing capital and risk management in banks, based on quantitative model and a series of qualitative solutions, which will be based on the implementation of the proposed model, in oder to be effectively implemented in the Serbian banking sector that makes up only a part that is essential for improving the range of Banking Supervision in order to help better develop. The global economic crisis is encouraged and promoted by the Basel standards whose modification of birth to the new Basel III capital agreement, will reduce the impacts of the same. Banks that successfully implement Basel guidelines to improve their overall business will realize a significant business advantage over those in which the manner and extent of implementation of policies is aimed only at the mere satisfaction of the regulator. Will Basel standards fail to alleviate the impact of the global economic crisis? Did the Basel II standards and modifications hlp to enhance better and more advanced Basel III? These are just some of the questions that the author of the paper is providing answers for.

  3. 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.

  4. WORLD ECONOMIC CRISIS, EXPRESSION OF THE GENERAL CRISIS CAPITALISM AND THE SITUATION WORKERS IN THE CLASS STRUGGLE AGAINST THE CAPITAL

    Directory of Open Access Journals (Sweden)

    Vicente E. Escandell-Sosa

    2016-01-01

    Full Text Available This work, based on the method dialectical materialist of Marx, argues with scientific approaches, that the world economic crisis, for very sharp and severe she is, is not a crisis without exit of the capitalism neither it will cause the collapse of the capitalism, although she constitutes part of the general crisis of the capitalism and increase the same one, since no crisis of the capitalism will take it to its end in absence of a fight of classes, because the social force that must generate the revolutionary changes is very limited. «Without the products of the fight of classes, the economic crises, «per se» won’t be a threat for the capital. The essential question is if the proletariat will live the crisis like object or like decisive fellow». The immaturity of the proletariat and its subordination to the laws of the capital indicate that the specific nature of the capital remains hidden.» 

  5. 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

  6. 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...

  7. The Impact of FDI on the Economic Growth of Serbia

    Directory of Open Access Journals (Sweden)

    Miloš Parežanin

    2016-05-01

    Full Text Available This paper analyzes the impact of foreign direct investment on the economic growth of the Republic of Serbia. The aim is to analyze the effects of the economic crisis on foreign direct investment impact on the economic performance of the Serbian economy. This paper analyzes the period of 2000 - 2014, using the Inward FDI Performance Index and Pearson’s coefficient of simple linear correlation. The period before the economic crises (2000-2007 and the period after the beginning of the economic crisis (2008-2014 are analyzed separately, in order to observe the linear correlation between FDI and economic growth. The results of the research speak in favor of the existence of a strong and statistically significant correlation between FDI and observed macroeconomic indicators in the period of 2000-2007. The second sub-period was characterized by an absence correlation between FDI inflows and all the observed macroeconomic indicators. The results for the period of 2008-2014 can be explained by the effects of the global crisis on the Serbian economy and the deterioration of all macroeconomic indicators in the given period. Effects of the crisis on the Serbian economy were very strong.

  8. The effects of the global economic crisis in Latin America

    Directory of Open Access Journals (Sweden)

    Arturo Guillén R.

    2011-06-01

    Full Text Available The aim of this article is to analyze the current phase of the global crisis and the way it has manifested itself in Latin America. The global crisis is the most important capitalist crisis since World War II. It is a new type of debt-deflation crisis, highlighting the limits of the finance-dominated regime of accumulation and characterized by securitization. Latin American countries have not been immune to the global crisis. Since it sets limits on globalization, the impossibility of maintaining export-driven accumulation sustained by restrictive monetary and fiscal policies becomes clear. This time, there will be no way out in external markets for any country. That fact will force them to restructure productive systems and search for a way out in domestic markets and in regional spaces for integration.

  9. 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.

  10. The synergy of the refugee crisis and the financial crisis in Greece: Impact on mental health.

    Science.gov (United States)

    Anagnostopoulos, Dimitris C; Giannakopoulos, George; Christodoulou, Nikos G

    2017-06-01

    The current global financial crisis that started in 2008 resulted in a significant decline in global trade, slowing/reversing economic growth worldwide, and a dramatic increase in public sector debt. At the same time, the global migrant/refugee crisis has reached extreme rates, with millions of people being forced to abandon their homes and communities because of war, political violence or related threats. There is a broad consensus about the deleterious consequences of these crises on psychological well-being, depression, anxiety disorders, insomnia, alcohol abuse and suicidal behavior. Although the separate consequences of economic recession and immigration are extensively discussed in previous research, we know very little about the processes through which the intersection of economic crisis and migrant crisis contributes to the vulnerabilities of natives and migrants during these crises. Of particular concern is the status of children, adolescents and their families, who constitute one of the most vulnerable groups in society. To discuss the contexts that economic and migrant crises shape and suggest possible effects of this intersection on mental health risks, especially among children, adolescents and their families, through reflecting on the recent experience in Greece. Review of the literature and critical analysis of the effects of the confluent crises. The interactive effects of these two crises need further exploration. Novel and diverse models of psychological understanding need to be developed in order to manage the effects of the confluent crises. The role of mental health professionals is crucial in this respect, offering culturally flexible, accommodating and empathetic approaches, allowing healing and acceptance in the face of adversity.

  11. How does youth cigarette use respond to weak economic periods? Implications for the current economic crisis.

    Science.gov (United States)

    Arkes, Jeremy

    2012-03-01

    This paper examines whether youth cigarette use increases during weak economic periods (as do youth alcohol and drug use). The data come from the 1997 National Longitudinal Survey of Youth. With repeated measures over the 1997-2006 period, for almost 9,000 individuals, the samples include 30,000+ teenagers (15-19 years) and 30,000+ young adults (20-24 years). Logit models with state and year controls are estimated. The results indicate that teenagers and young adults increase cigarette use when the economy is weaker, implying that the current financial crisis has likely increased youth cigarette use relative to what it would have otherwise been.

  12. La economía social: crisis y recuperación económica

    Directory of Open Access Journals (Sweden)

    José María Algora Jiménez

    2011-10-01

    Full Text Available Este artículo analiza el concepto de economía social en la actualidad como alternativa de recuperación económica. En este sentido, la falta de respuesta desde las instituciones económicas y políticas tradicionales a la crisis hace que se planteen nuevas soluciones y posturas.Palabras clave: economía social, crisis, recuperación. ________________Abstract:This article analyze the concept of social economy in our days like an alternative of  economic recovery. So, there isn´t any answer from traditional economic and political institutions about the crisis, and, for that, the people think about news solutions and stances.Keywords: social economy, crisis, recovery.

  13. Reforming Ukraine's financial system in the context of the economic crisis

    OpenAIRE

    V. Kabanov

    2009-01-01

    The author considers the tendencies of the current economic crisis in Ukraine and analyses the measures taken to overcome its consequences and determines the mechanisms to counteract the spread of the negative phenomena on Ukraine's economy.

  14. Specific Features in Kazakhstan Economic Development: before and after the Crisis Phenomena

    Directory of Open Access Journals (Sweden)

    D A Akbergenova

    2012-09-01

    Full Text Available The article represents the analysis of the done and forthcoming work on overcoming of structural crisis in Kazakhstan Republic. The basic stages of formation and development of economic process are characterized.

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

    Directory of Open Access Journals (Sweden)

    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.

  16. Crisis and the Emergence of Illicit Markets: A Pragmatist View on Economic Action outside the Law

    OpenAIRE

    Dewey, M.

    2014-01-01

    Although illicit exchange has also been an organized, silent, and ever-present response to harsh economic crisis, only protest and social movements have captured scholars’ attention. In order to fill this void, this paper analyzes the emergence of illegal markets under situations of social breakdown. I claim that an illicit market emerging under socio-economic crisis conditions might be understood as the result of a constant valuation process and the intervention of what Herbert Mead called “...

  17. A Study of the Less-Developed-Countries Debt Crisis in Mexico and Subsequent Economic Policies

    Science.gov (United States)

    2012-09-01

    payments to its major creditors. The economic crisis that ensued affected not just Mexico but the entire free market system. It marked a fundamental...but the entire free market system. It marked a fundamental shift in development economics and altered the economic systems in all but four Latin...Mexico’s Steel Industry .................................................................103 Figure 5. Monopolistic Competition Model

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

    Directory of Open Access Journals (Sweden)

    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.

  19. Economic Crisis and Marital Problems in Turkey: Testing the Family Stress Model

    Science.gov (United States)

    Aytac, Isik A.; Rankin, Bruce H.

    2009-01-01

    This paper applied the family stress model to the case of Turkey in the wake of the 2001 economic crisis. Using structural equation modeling and a nationally representative urban sample of 711 married women and 490 married men, we tested whether economic hardship and the associated family economic strain on families resulted in greater marital…

  20. The Impact of the Asian Crisis on International Financial Markets

    Directory of Open Access Journals (Sweden)

    Sang-Uck Loh

    1998-12-01

    Full Text Available Among the influences of the Asian financial crisis on the international market and its monetary policy and situation, the sharp backwash of the international private capital which has been continually related to the emerging market since the early 1990s is considered as the most important one. Though this trend is partly the result of the internal causes of the emerging countries, such as the inflexible policy of the exchange rate, the accumulation of the frequent income and expenses deficit and the stagnation of the economy in the countries hit by the Asian economic crisis, the unstable internal structure of the application system of the international monetary market probably also brought a tremendous influence. This thesis takes a look at the situation and is directed towards the direction and scale of the future international capital based on the studies of the unsteady factors of the structure of the economic market, which appeared in the period of the Asian economic crisis. After the moratorium of Russia, the liquidity of the international private capital in the international monetary market became various with the implement of the policy which lowered the exchange rate under the cooperation of the developed countries. Meanwhile, the Asian countries strived to establish the structure of enterprises and financial department in a full speed and with a high intensity after the economic crisis. So it is believed that they were fully qualified to enter the emerging market, and would be again in case of need. As the international investors experienced the Asian economic crisis, they faced and estimated the risk of investing into the emerging markets again. As the case stands, the strengthened joint of finance and trade among countries lead to a higher risk of the possibility that the crisis of one country expands to a worldwide crisis. So it is predicted that the inflow of the capital to the emerging market will be in a gradual way. The selection

  1. The financial crisis in Europe: Impact on satisfaction with life.

    Science.gov (United States)

    Clench-Aas, Jocelyne; Holte, Arne

    2017-08-01

    The 2008 financial crisis in Europe came abruptly and surprisingly. Many countries also suffered a second recession during the period 2010-2012. We examined the impact of the crisis on life satisfaction (LS) by country and individual socioeconomic level. We used a representative sample from the European Social Survey (2002-2014) with data from 26 countries ( N = 294,407). LS was measured with a single question with 11 response alternatives. Time from start of crisis (either 2008 or 2010-2012) was determined separately for each interview. Data were analyzed by multilevel analysis Results: There was a sharp decrease in LS in the beginning of the crisis in 2008, and another, but not so severe, decline in 2011, each of them of short duration. However, there was also a slight and progressive yearly decrease in LS that continued one to at least 3 years after either financial crisis that was independent of the effect of being unemployed. Associations varied considerably between countries. A negative decline after the financial crisis was especially evident among those in the most educated groups, and in those in the higher occupational levels. The 2008 financial crisis had a double effect on LS: (1) a sharp short-term decrease consistent with the Easterlin paradox; (2) a slighter long-term progressive decrease that was over and above the strong negative relationship with unemployment that lasted several years. The long-term decline in LS after the start of the financial crisis tended to occur especially in the higher socioeconomic groups.

  2. Implications of the economic crisis on the balance of power, world governance and economic paradigm

    Directory of Open Access Journals (Sweden)

    Marcel Moldoveanu

    2010-01-01

    Full Text Available The paper presents the new dimensions of globalization during the first two decades of 21st century. These dimensions include new centers of economic power, new meanings for regionalization and new decision structures such as G- 20. Starting from the fact that the economic crisis that began in 2008 affected in a different way various countries of the world economy the authors show that a true multi-polar structure emerges and this requires a new development paradigm. This new paradigm has to depart from the quantitative dimension and propose a new set of values that will accommodate both the increase in the number of population and the limits of the existing resources. The authors conclude that a significant part of the new paradigm should be a new type of world governance involving all significant actors.

  3. Economic, Financial, and Political Crisis and Well-Being in the PIGS-Countries

    Directory of Open Access Journals (Sweden)

    Knut Halvorsen

    2016-12-01

    Full Text Available The research question in this article is threefold: To which degree is the financial crisis of 2008 and the subsequent recession associated with reduced well-being among people in the four hardest affected EURO countries? Are individual factors associated with reduced well-being the same in these countries? and Are lower socioeconomic groups more severely hit than the better off?. Data before the crisis are compared with data in 2013/2014 (EU-SILC [European Union Statistics on Income and Living Conditions] survey 2013 for Greece, Portugal, Ireland, and Spain. Finland is used as a reference category. Before control of individual characteristics, regressions demonstrate a small and mostly significant fall in average satisfaction with life in these countries, Portugal being an exception. According to the theory of capability and actual economic and political development, it was hypothesized that Greece—being the worst case in terms of economic development—may experience the greatest fall in life satisfaction. This hypothesis is not supported by the data. In fact, the strongest decline was found in Ireland. In particular, lack of political trust stands in Greece out as having an impact, while poor health is related to Ireland and unemployment to Portugal and Spain. Greatest socioeconomic inequality in life satisfaction was found in Portugal.

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

    OpenAIRE

    Liviu C. ANDREI

    2010-01-01

    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, dil...

  5. The Spectacles of the Crisis: Local Perception of Economic and Social Change in Valenza

    Directory of Open Access Journals (Sweden)

    Michele F. Fontefrancesco

    2016-02-01

    Full Text Available In this article, the case of the economic crisis of Valenza (Italy and its jewellery industry is presented. The crisis has occurred since 2008 as an effect of the plunge of international jewellery market. Drawing from ethnographic materials collected during my fieldwork in the city (2008-2010, I intend to point out that an the most recent economic downturn had strong cultural effects on local population (goldsmiths and others. Following Kant’s concept of category of reason, I will show that the crisis itself had become a category of reason for local population that uses it to make decisions and plan their future.

  6. CHANGES IN CONSUMER’S BEHAVIOUR ON THE ROMANIAN RETAIL MARKET IN THE CONTEXT OF ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    Catana Adina

    2012-07-01

    Full Text Available In order to observe the impact of the economic crisis of consumer’s behaviour on the Romanian retail market, I focused my research on the evolution of consumption expenditure of households. I studied aspects from European Union and Romania. The study is based on the research taken in the project of PhD research with the theme: The impacts of Economic Integration on Romanian Retail. I used data from Eurostat, the Romanian Statistical Institution, specialised studies etc.

  7. Effects of Global Economic Crisis on Travel Agencies and Crisis Management Practices in Turkey

    OpenAIRE

    AVCI, Nilgün; KÜÇÜKUSTA, Deniz

    2014-01-01

    AbstractCrisis management has become a requirement for businesses particularly in tourism industry. In spite of the limited studies carried out in this field in Turkey, the survey of the subject has significance in practices undergone by travel agencies, which are the backbones of the tourism industry. In this context we aim to analyze the measures and practices adopted by travel agencies during periods of crisis; determine the frequency of utilization of these measures and practices during p...

  8. Effects of Global Economic Crisis on Travel Agencies and Crisis Management Practices in Turkey

    OpenAIRE

    AVCI, Nilgün; KÜÇÜKUSTA, Deniz

    2015-01-01

    AbstractCrisis management has become a requirement for businesses particularly in tourism industry. In spite of the limited studies carried out in this field in Turkey, the survey of the subject has significance in practices undergone by travel agencies, which are the backbones of the tourism industry. In this context we aim to analyze the measures and practices adopted by travel agencies during periods of crisis; determine the frequency of utilization of these measures and practices during p...

  9. Accommodating Global Markets: Malaysia's Response to Economic Crisis

    OpenAIRE

    Helen Nesadurai

    1998-01-01

    The East Asian financial crisis has shown how governments in affected countries have had to contend both with the external constraint imposed by global capital mobility and domestic political dynamics when instituting adjustment to the crisis. Some commentators see the reform process in the East Asian states as an outcome of the disciplining behaviour of financial markets that will lead to the complete dismantling of those structures that supported the state- directed developmentalist mode of...

  10. Economic crisis, austerity and unmet healthcare needs: the case of Greece.

    Science.gov (United States)

    Zavras, Dimitris; Zavras, Athanasios I; Kyriopoulos, Ilias-Ioannis; Kyriopoulos, John

    2016-07-27

    The programme for fiscal consolidation in Greece has led to income decrease and several changes in health policy. In this context, this study aims to assess how economic crisis affected unmet healthcare needs in Greece. Time series analysis was performed for the years 2004 through 2011 using the EU-SILC database. The dependent variable was the percentage of people who had medical needs but did not use healthcare services. Median income, unemployment and time period were used as independent variables. We also compared self-reported unmet healthcare needs drawn from a national survey conducted in pre-crisis 2006 with a similar survey from 2011 (after the onset of the crisis). A common questionnaire was used in both years to assess unmet healthcare needs, including year of survey, gender, age, health status, chronic disease, educational level, income, employment, health insurance status, and prefecture. The outcome of interest was unmet healthcare needs due to financial reasons. Ordinary least squares, as well as logistic regression analysis were conducted to analyze the results. Unmet healthcare needs increased after the enactment of austerity measures, while the year of participation in the survey was significantly associated with unmet healthcare needs. Income, educational level, employment status, and having insurance, private or public, were also significant determinants of unmet healthcare needs due to financial reasons. The adverse economic environment has significantly affected unmet health needs. Therefore health policy actions and social policy measures are essential in order to mitigate the negative impact on access to healthcare services and health status.

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

    Directory of Open Access Journals (Sweden)

    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.

  12. The Impact of Financial Crisis in Coronary Artery Disease Burden in Greece.

    Science.gov (United States)

    Sanidas, Elias A; Papaioannou, Theodoros G; Papadopoulos, Dimitrios P; Tatsi, Konstantina; Velliou, Maria; Dalianis, Nikolaos; Paizis, Ioannis; Anastasiadis, George; Kelepesis, Glaukos; Bonou, Maria; Tsioufis, Kontantinos; Barbetseas, John

    2018-03-27

    Economic crisis poses an immense threat to public health worldwide and has been linked to cardiovascular morbidity and mortality. Greece is facing a distinctive recession over the recent years. However, the exact impact on coronary artery disease (CAD) burden has not been adequately addressed. Demographic, clinical and angiographic data of 3895 hospitalized patients were retrospectively studied. Patients were classified in those before crisis (2006-2007, n=1228) and those during crisis (2011-2015, n=2667). All data before and during crisis were compared. During crisis, patients presented with less acute coronary syndromes (ACS - 45.5% vs 39.9%, pcrisis was partially affected. Even though the incidence of ACS was decreased, more women and more patients with no or single vessel disease were led for cardiac catheterization. In addition, the prevalence of traditional risk factors for CAD did not increase except obesity confirming the "obesity paradox". It seems that the impact of traditional risk factors for CAD is not an immediate process and is somewhat related to living conditions or other exogenous and social factors. Copyright © 2018 Hellenic Society of Cardiology. Published by Elsevier B.V. All rights reserved.

  13. 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.

  14. Impacts of the Global Crisis Period 2007- 2010 on the Automotive Industry in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Sedlacek Marek

    2013-06-01

    Full Text Available The main aim of this article was to analyse the possible intensity of dependency of the Czech Republic, or more precisely, its total economic indicator Gross Domestic Product on realized Sales sector of the automotive industry before crisis, during the crisis period (2007-2010 as well as after the crisis. There was also used the development analysis of individual total economic indicators in the Czech automotive industry in time. On the other hand, in the article there were found and analysed impacts of the global recession on the functioning of several chosen companies associated in the Automotive Industry Association of the Czech Republic at their interaction with this way developed macroeconomic surroundings. The investigation was based on the development of company result indicator value (Sales of the selected companies and the chosen macro indicator (Gross Domestic Product when looking for their reciprocal dependency in the period mainly connected with the financial and economic crisis. In the contribution, an elementary analysis of the chosen indicator Sales was carried out. With the help of regress and correlation analysis there were further researched the relationships among this chosen indicator of company performance reciprocally with all the companies, the Automotive Industry Association of the Czech Republic as a whole, and the chosen macro-indicator representing the development of selected markets. For the following calculation of tested criteria, Cohen’s Coefficient was used to be able to assess the effect of the group on the value variability of studied random quantity.

  15. Medical Supplies Shortages and Burnout among Greek Health Care Workers during Economic Crisis: a Pilot Study

    Science.gov (United States)

    Rachiotis, George; Kourousis, Christos; Kamilaraki, Maria; Symvoulakis, Emmanouil K.; Dounias, George; Hadjichristodoulou, Christos

    2014-01-01

    Greece has been seriously affected by the economic crisis. In 2011 there were reports of 40% reduction to public hospital budgets. Occasional shortages of medical supplies have been reported in mass media. We attempted to pivotally investigate the frequency of medical supplies shortages in two Greek hospital units of the National Health System and to also assess their possible impact on burnout risk of health care workers. We conducted a cross-sectional study (n=303) of health care workers in two Greek hospitals who were present at the workplace during a casually selected working day (morning shift work). The Maslach Burnout Inventory (MBI) was used as the measure of burnout. An additional questionnaire was used about demographics, and working conditions (duration of employment, cumulative night shifts, type of hospital including medical supplies shortages and their impact on quality of healthcare. The prevalence of emotional exhaustion, depersonalization and low personal accomplishment was 44.5%, 43.2% and 51.5%, respectively. Medical supply shortages were significantly associated with emotional exhaustion and depersonalization. This finding provides preliminary evidence that austerity has affected health care in Greece. Moreover, the medical supply shortages in Greek hospitals may reflect the unfolding humanitarian crisis of the country. PMID:24688306

  16. Renewable Energy Project Financing: Impacts of the Financial Crisis and Federal Legislation

    Energy Technology Data Exchange (ETDEWEB)

    Schwabe, P.; Cory, K.; Newcomb, J.

    2009-07-01

    Extraordinary financial market conditions have disrupted the flows of equity and debt investment into U.S. renewable energy (RE) projects since the fourth quarter of 2008. The pace and structure of renewable energy project finance has been reshaped by a combination of forces, including the financial crisis, global economic recession, and major changes in federal legislation affecting renewable energy finance. This report explores the impacts of these key market events on renewable energy project financing and development.

  17. Social inequality in morbidity, framed within the current economic crisis in Spain.

    Science.gov (United States)

    Zapata Moya, A R; Buffel, V; Navarro Yáñez, C J; Bracke, P

    2015-11-14

    Inspired by the 'Fundamental Cause Theory (FCT)' we explore social inequalities in preventable versus relatively less-preventable illnesses in Spain. The focus is on the education-health gradient, as education is one of the most important components of an individual's socioeconomic status (SES). Framed in the context of the recent economic crisis, we investigate the education gradient in depression, diabetes, and myocardial infarction (relatively highly preventable illnesses) and malignant tumors (less preventable), and whether this educational gradient varies across the regional-economic context and changes therein. We use data from three waves of the Spanish National Health Survey (2003-2004, 2006-2007, and 2011-2012), and from the 2009-2010 wave of the European Health Survey in Spain, which results in a repeated cross-sectional design. Logistic multilevel regressions are performed with depression, diabetes, myocardial infarction, and malignant tumors as dependent variables. The multilevel design has three levels (the individual, period-regional, and regional level), which allows us to estimate both longitudinal and cross-sectional macro effects. The regional-economic context and changes therein are assessed using the real GDP growth rate and the low work intensity indicator. Education gradients in more-preventable illness are observed, while this is far less the case in our less-preventable disease group. Regional economic conditions seem to have a direct impact on depression among Spanish men (y-stand. OR = 1.04 [95 % CI: 1.01-1.07]). Diabetes is associated with cross-regional differences in low work intensity among men (y-stand. OR = 1.02 [95 % CI: 1.00-1.05]) and women (y-stand. OR = 1.04 [95 % CI: 1.01-1.06]). Economic contraction increases the likelihood of having diabetes among men (y-stand. OR = 1.04 [95 % CI: 1.01-1.06]), and smaller decreases in the real GDP growth rate are associated with lower likelihood of myocardial infarction among

  18. 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

  19. Economic Impacts and Business Opportunities | NREL

    Science.gov (United States)

    Economic Impacts and Business Opportunities Economic Impacts and Business Opportunities NREL corporations alike. Colorado flag Economic Impact The economic impact of NREL operations on the nation totaled Jefferson County where the economic benefit totaled $275 million in 2014. Growth chart Economic Benefit NREL

  20. Economic crisis and changes in drug use in the Spanish economically active population.

    Science.gov (United States)

    Colell, Esther; Sánchez-Niubò, Albert; Delclos, George L; Benavides, Fernando G; Domingo-Salvany, Antonia

    2015-07-01

    To examine changes in the use of alcohol, cannabis and hypnotics/sedatives between two periods (before and during Spain's economic crisis), and to identify differences in the change between employed and unemployed individuals. Using cross-sectional data from four editions of the Spanish Household Survey on Alcohol and Drugs, we selected economically active individuals aged 16-64 years (total sample = 62 440) and defined two periods, pre-crisis [period 1 (P1) = 2005-07] and crisis (P2 = 2009-11). Poisson regression models with robust variance were fitted to obtain prevalence ratios (PR) of heavy and binge drinking and multinomial regression models to obtain relative risk ratios (RRR) of cannabis and hypnotic/sedative use between the two periods, also considering the interaction between period and employment status. While the prevalence of alcohol use remained stable, heavy drinking declined in P2 in men both overall [PR = 0.73; 95% confidence interval (CI) = 0.67-0.79] and in the two age groups (16-34 and 35-64 years), and also in women overall (PR = 0.86; 95% CI = 0.75-0.99) and in the older age group. In contrast, binge drinking increased overall in P2 in men (PR = 1.17; 95% CI = 1.12-1.22) and in women (PR = 1.62; 95% CI = 1.49-1.76), and in both age groups. No differences in the change were observed between employed and unemployed individuals. Overall cannabis use remained stable in P2, but unemployed men and women of the older age group were more likely to have increased sporadic use compared to their employed counterparts (RRR = 2.24; 95% CI = 1.36-3.68 and RRR = 3.21; 95% CI = 1.30-7.93, respectively). Hypnotic/sedative use remained stable in P2 in men, but unemployed men were less likely to have increased heavy use in P2 compared with employed men (RRR = 0.69; 95% CI = 0.49-0.97). In women, heavy use increased in P2 overall and in the older age group, irrespective of employment status. During a period of economic recession in Spain, heavy drinking

  1. Economic impact of cultural events

    Directory of Open Access Journals (Sweden)

    M Saayman

    2004-11-01

    Full Text Available The phenomenon of events can hardly be described as a new one.  The aim of this paper is to determine the economic benefits of three major cultural events in South Africa to the host community.  Measuring the economic impact normally entails some estimation of the cash injection into a region by visitors and applying the relevant multiplier to arrive at a monetary estimate of the economic impact.  But few regions or municipal areas have detailed economic data to construct a type of input-output model and derive a multiplier.  The purpose of the methods used in this research were firstly to determine the estimated cash injection, secondly to estimate the size of leakages in the local economy and thirdly to derive an appropriate multiplier to estimate the economic impact of the event.

  2. Impact of the crisis on working conditions in Europe

    OpenAIRE

    European Foundation for the Improvement of Living and Working Conditions

    2013-01-01

    The economic and financial crisis is affecting working conditions across EU Member States and Norway in different ways and scope. Yet the pattern is of less work, reduced overall working time, less overtime, rising job insecurity, less choice for workers, wage freezes and wage cuts. There is also greater work intensity, deterioration of work–life balance, increasing stress at work, greater risk of harassment/bullying, less absenteeism, growth in the informal economy and changes to migration p...

  3. 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.

  4. Economic impact of cultural tourism

    OpenAIRE

    Zadel, Zrinka; Bogdan, Sinisa

    2013-01-01

    The subject of analysis in the paper is economic impact of cultural tourism and identification of the main factors which directly affect cultural tourism revenues. Most countries do not have a statistical system of monitoring and analysing individual factors of cultural tourism such as the number of arrivals of cultural tourists and consumption of cultural tourists. Therefore, it is hard to assess the economic impact of cultural tourism. In cultural tourism, cultural assets are prepared and p...

  5. The impact of the Asian crisis on the behavior of US and international petroleum prices

    International Nuclear Information System (INIS)

    Hammoudeh, Shawkat; Li, Huimin

    2004-01-01

    The strong long-run relationships among the petroleum spot and futures prices have weakened after the Asian crisis as manifested in less co-integration among these prices. In the post-crisis period, the directional causal relationships have either changed the direction as in the case of WTI crude or weakened somewhat as in the case of NYMEX gasoline and heating oil. These changes should complicate the job of those who try to benefit from predicting the movements of petroleum prices after the Asian crisis. In the international gasoline spot markets, movements in the NYMEX gasoline price are found to precede movements in the Gulf Coast and Rotterdam gasoline prices in the pre-crisis period, and the movements of these prices and those of the Singapore price in the post-crisis period, implying that the NYMEX price is the gasoline leader in both periods. The Monday/Friday day-of-the-week effect is only significant for the NYMEX gasoline 1-month and 3-month futures prices and the Gulf Coast gasoline spot. Economic and political shocks related to the spot prices have greater impacts on all prices than shocks related to the futures prices, regardless of the petroleum type and the time period

  6. 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 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......, prior to making any sort of investment decisions in that country....

  7. Panels target women's response to the global economic crisis and ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    2010-11-23

    Nov 23, 2010 ... The event was hosted by IDRC 's Women's Rights and Citizenship ( WRC ) ... Jain believes that to put this growth into motion, the focus needs to shift from crisis management to developing a new purpose for ... Related articles ...

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

    DEFF Research Database (Denmark)

    Leschke, Janine; Jepsen, Maria

    2014-01-01

    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...

  9. European economic policies, stock-flow relations and the great double crisis

    Directory of Open Access Journals (Sweden)

    Vittorio Valli

    2017-06-01

    Full Text Available The 2007-2015 crisis has been the most devastating economic depression in the last seven decades. It has struck in different ways and with different amplitude the US and most European countries. In most countries it has been a double crisis (financial and real, but in Eurozone's financially vulnerable countries it has also badly worsened public finance indicators. There was therefore in those countries, a complex perverse feedback between public finance weakness, the harsh application of austerity policy and a further increase in the depth and duration of real and financial crisis. The paper focus on the importance of stock-flow relations in worsening and prolonging economic depressions triggered by structural bubbles or other chronic imbalances. It also gives a critical assessment of some aspects of EU economic policies, outlining some elements for a possible alternative economic strategy.

  10. 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.

  11. EFFECTS OF ECONOMIC CRISIS ON THE FOREST INDUSTRY (A SAMPLE OF RIZE PROVINCE

    Directory of Open Access Journals (Sweden)

    Kadri Cemil Akyüz

    2003-04-01

    Full Text Available Especially, Border ceased and increasing capital movement at the national and international market constitutes negative results on the developing economics. The November and February crisis made an important destruction on the industry and dealt a blow to developing economic in Turkey. Effects of crisis are much more feeling particularly undeveloped industry regions than the other regions. The results of crisis weren't been investigated in the sector level in the manufactures industry. Aim of this study determined to effects of crisis at the forest product industry, active position in the manufacturer industry in the Rize selected area in the Eastern Black Sea Region not be taken desired share in the industry structure. In the random chosen establishments, 40 questionnaire forms filled with face-to-face communication method. As a result, it was determined that the fiscal structure and the production capacities of these establishments were important level lost and decreased respectively.

  12. 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.

  13. 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.

  14. The reform of the Spanish public administration and the Wellfare State during the economic crisis (2012-2015

    Directory of Open Access Journals (Sweden)

    Carlos Vidal Prado

    2017-05-01

    Full Text Available This work analyzes some structural reforms of public administrations implemented from 2012 in Spain, as a result of the economic crisis, and public policies implemented to achieve them, and if truly met the intended objectives (improve the quality and efficiency of services, transparency in public administrations and creating an Open Government. The work part of a brief diagnosis of the causes and consequences of the economic crisis, to tackle after reforms in public administration and in the model of Welfare State, especially in what refers to public employment, education, healthcare and the attention to the dependence. Finally, a brief assessment of the adopted solutions and its real impact on the current situation of the economy and the Spanish Administration is performed.

  15. 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.…

  16. 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…

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

    NARCIS (Netherlands)

    Akoko, R.M.

    2007-01-01

    Cameroon's economic crisis has led to widespread unemployment and poverty since the 1980s. Civil society organizations, including the churches, believe that bad governance is at the heart of the country's economic problems and are calling for the introduction of democratic institutions. However, a

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

    Directory of Open Access Journals (Sweden)

    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.

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

    Directory of Open Access Journals (Sweden)

    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. ECONOMIC IMPACT OF CULTURAL TOURISM

    Directory of Open Access Journals (Sweden)

    Zrinka Zadel

    2013-12-01

    Full Text Available The subject of analysis in the paper is economic impact of cultural tourism and identification of the main factors which directly affect cultural tourism revenues. Most countries do not have a statistical system of monitoring and analysing individual factors of cultural tourism such as the number of arrivals of cultural tourists and consumption of cultural tourists. Therefore, it is hard to assess the economic impact of cultural tourism. In cultural tourism, cultural assets are prepared and placed on the tourist market, i.e. cultural resources are transformed into cultural tourism products. The main objective is fulfilling tourists' needs, and achieving positive effects which includes economic effects. Identification of the economic impact of cultural tourism is important because cultural resources have an inestimable value for the local community. Tourism valorisation should be used in order to achieve the necessary maximum effects with minimum negative impacts which tourism may leave on cultural resources. The objective of the paper is to identify the economic contribution of cultural tourism in the Republic of Croatia and to propose a model of identification of economic impact of cultural tourism.

  1. Banking Restructuring Techniques in the Economical Crisis Context

    Directory of Open Access Journals (Sweden)

    Vasile Dedu

    2009-11-01

    Full Text Available Banking restructuring regained leading place in commercial banking activities following ongoing crisis. Many debtors are facing serious trouble in normal debt repayment due to increasing number and volume of non performing loans in banks’ portfolios. In order to deal with these issues and to secure existing exposures banks use restructuring techniques like payment rescheduling, debt-equity swap and write-offs to ease debtors debts and to help viable businesses to successfully survive recession.

  2. Implications for air quality and the impact of financial and economic crisis in South Spain: Geochemical evolution of atmospheric aerosol in the ceramic region of Bailén

    Science.gov (United States)

    Sánchez de la Campa, A. M.; de la Rosa, J. D.

    2014-12-01

    A temporal series study of atmospheric aerosol was performed over the last ten years (2003-2012) in an urban background monitoring station with ceramic industrial influence, in Bailén, SE Spain. Temporal trends of major and minor chemical components of PM10 for a long term data series were investigated, showing that PM10 concentrations have been steadily decreasing over almost a decade, with a statistical significance. Measurements indicate a reduction of elements and components related to the industrial activity of brick-ceramic production (V, Cd, Rb, La, Cr, Ni, As, Pb and SO42-). Conversely, Cu levels define an increasing trend from the beginning of the study period but with the highest step trend since 2011-2012, coinciding with the beginning of the financial and economic crisis in 2008. A similar time evolution pattern of Cu and OC, EC, and K levels may be a tracer of domestic local combustion source, and a new biomass burning source has been identified. Chemical composition of olive tree logs suggest as the combustion of wood with high concentration of Cu can imply an increase of Cu concentration in the atmospheric particles compared with other sources such as traffic.

  3. Socio-economic impact

    International Nuclear Information System (INIS)

    Anon.

    1978-01-01

    The construction of an electric generating station may have socio-economic effects upon the community in which it is located. Among the possible effects during construction are changes in population leading to strains in housing, schools, employment, transportation, and increased demands on local government services. The scale of the effects varies according to the population base of the county in which the plant is located and the distance of the site from major metropolitan areas. Increased demands for county and municipal public services also vary during the construction period. In some instances the increased cost of public services can result in large budget deficits at both the county and municipal level as construction period revenue increases fail to keep pace with service costs. In the study case of potential Eastern Shore power plant sites, annual municipal budget deficits were estimated to range from 3 to 21% for nuclear plant construction. The same study projected the largest county deficit at 4%, with other counties experiencing revenues and expenditures which were essentially in balance. After a new plant starts operation, the tax revenue to county government is on the order of several million dollars per year or greater depending on plant size and local tax rates, and the service costs are small

  4. 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.

  5. Comparative Analysis Of Financial Performance Banking Before And After The Global Economic Crisis In 2008

    Directory of Open Access Journals (Sweden)

    Sri Indrastuti S.

    2017-11-01

    Full Text Available This research was conducted at the Regional Development Bank BPD in Indonesia. This study aims to examine and obtain empirical evidence about the comparative financial performance of regional banks after the global crisis with a view of its financial ratio which includes a ratio ROA CAR COF GMP LDR NIM ROA and ROE. This study further whether there was a significant difference in the time before and after the global economic crisis of 2008.The method used is a saturated or census sampling of the 26 Bank Pembangunan Daerah BPD. This study uses secondary data obtained from financial statement data Regional Development Bank for the period 2006 to 2010. The analytical tool used to determine differences in financial performance before and after the global economic crisis of 2008 was Paired sample T test for normally distributed data. If the data were not normally distributed using the Wilcoxon Signed Rank Test.The results showed that the financial performance of the Bank Pembangunan Daerah BPD in the ratio of ROA CAR COF GMP LDR NIM and ROA before and after the global economic crisis in 2008 there are significant differences. While ROE ratios before and after the global economic crisis of 2008 was not a significant difference.

  6. Socio economic crisis and mortality. Epidemiological testimony of the financial collapse of Argentina.

    Science.gov (United States)

    Gurfinkel, Enrique P; Bozovich, Gerardo E; Dabbous, Omar; Mautner, Branco; Anderson, Frederick

    2005-12-13

    Natural disasters, war, and terrorist attacks, have been linked to cardiac mortality. We sought to investigate whether a major financial crisis may impact on the medical management and outcomes of acute coronary syndromes. We analyzed the Argentine cohort of the international multicenter Global Registry of Acute Coronary Events (GRACE). The primary objective was to estimate if there was an association between the financial crisis period (April 1999 to December 2002) and in- hospital cardiovascular mortality, with the post-crisis period (January 2003 to September 2004) as the referent. Each period was defined according to the evolution of the Gross Domestic Product. We investigated the demographic characteristics, diagnostic and therapeutic procedures, morbidity and mortality. We analyzed data from 3220 patients, 2246 (69.8%) patients in the crisis period and 974 (30.2%) in the post-crisis frame. The distribution of demographic and clinical baseline characteristics were not significantly different between both periods. During the crisis period the incidence of in-hospital myocardial infarction was higher (6.9% Vs 2.9%; p value crisis, especially among public sites (median 190 min Vs 27 min). The incidence proportion of mortality during hospitalization was 6.2% Vs 5.1% after crisis. The crude OR for mortality was 1.2 (95% C.I. 0.87, 1.7). The odds for mortality were higher among private institutions {1.9 (95% C.I. 0.9, 3.8)} than for public centers {1.2 (95% C.I. 0.83, 1.79)}. We did not observe a significant interaction between type of hospital and crisis. Our findings suggest that the financial crisis may have had a negative impact on cardiovascular mortality during hospitalization, and higher incidence of medical complications.

  7. Determinants of capital structure and financial crisis impact: evidence

    OpenAIRE

    Proença, Pedro Miguel Correia

    2012-01-01

    Mestrado em contabilidade The objectives of this empirical work are to investigate the determinants of Portuguese SMEs capital structure, evaluate whether and how the impacts of those determinants affect the debt ratios and examine the effects of financial crisis and industry on Portuguese SMEs capital structure. The sample used considers the period 2007-2010, resulting in 12.857 Portugues e SMEs per year observations. R...

  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. Economic uncertainty and its impact on the Croatian economy

    Directory of Open Access Journals (Sweden)

    Petar Soric

    2017-12-01

    Full Text Available The aim of this paper is to quantify institutional (political and fiscal and non-institutional uncertainty (economic policy uncertainty, Economists’ recession index, natural disasters-related uncertainty, and several disagreement measures. The stated indicators are based on articles from highly popular Croatian news portals, the repository of law amendments (Narodne novine, and Business and Consumer Surveys. We also introduce a composite uncertainty indicator, obtained by the principal components method. The analysis of a structural VAR model of the Croatian economy (both with fixed and time-varying parameters has showed that a vast part of the analysed indicators are significant predictors of economic activity. It is demonstrated that their impact on industrial production is the strongest in the onset of a crisis. On the other hand, the influence of fiscal uncertainty exhibits just the opposite tendencies. It strengthens with the intensification of economic activity, which partially exculpates the possible utilization of fiscal expansion as a counter-crisis tool.

  10. Economic impact of world mining

    International Nuclear Information System (INIS)

    Walser, G.

    2002-01-01

    Mining plays a vital role in the economic development of many countries. The emerging economies are now major players in the production and availability of key commodities such as copper (70%), bauxite (40%), iron ore and precious metals. Mining also has a positive impact on the economy of many countries. Another impact of mining can be measured in terms of employment opportunities and income generation. Commercial scale mining provides employment and skills transfer to more than 2 million workers. The multiplier effect increases this benefit by a factor of between 2 and 5. The World Bank Mining Department has carried out an in-depth study on economic and social impact of mining at the community level in Chile, Peru, Bolivia, Papua New Guinea and Mali. This study demonstrates that there are substantial social and economic benefits to the community. The most positive cases are related to the growth of local small- and micro-enterprise activities. However, mining remains controversial, as true sustainable development is not only a matter of financial flows. Mining has also been associated with a number of economic and social problems. As a result there are questions about the sustainability of the economic outcome of mining. The contribution of mining to sustainable development needs to be considered in terms of economic and technical viability, ecological sustainability and social equity. To achieve this, governments, mining companies and local communities must work together to address these issues. (author)

  11. [Effect of the economic crisis on consumption of psychotropic drugs in Asturias (Spain)].

    Science.gov (United States)

    Nicieza-García, María Luisa; Alonso-Lorenzo, Julio C; Suárez-Gil, Patricio; Rilla-Villar, Natalia

    To assess whether the economic crisis of 2008 has changed the consumption of anxiolytics, hypnotics-sedatives and antidepressants in Asturias (Spain). We conducted a descriptive study of drug use from 2003 -2013. The defined daily doses of 1000 inhabitants per day (DHD) were calculated for anxiolytics, hypnotics-sedatives and antidepressants. Linear regression coefficients (b) of the DHD were obtained for the pre-crisis period (2003-2008) and the crisis period (2009-2013). The consumption of anxiolytics increased by 40.25%, that of hypnotics by 88.11% and that of antidepressants by 80.93%. For anxiolytics: b-(2003-2008)=4.38 DDI/year and b-(2009-2013)=1.08 DDI/year. For hypnotics-sedatives: b-(2003-2008)=2.30 DDI/year and b-(2009-2013)=0.40 DDI/year. For antidepressants: b-(2003-2008)=5.79 DDI/year and b-(2009-2013)=2.83 DDI/year. The rise in consumption of the three subgroups during the crisis period was lower than that of the pre-crisis period. This study does not confirm the influence of the economic crisis on the rise in consumption of these drugs. Copyright © 2016 SESPAS. Publicado por Elsevier España, S.L.U. All rights reserved.

  12. Interpreting the Emigration of Young Spanish Adults in a Context of Economic Crisis

    Directory of Open Access Journals (Sweden)

    Almudena Moreno Mínguez

    2017-08-01

    Full Text Available This article discusses the effects of the economic crisis on the international mobility of young Spaniards from a critical perspective. The difficulties in finding employment resulting from the economic crisis have changed the international mobility of young people. The results presented in this paper point to a relative decline in the young population due to reduced fertility and increased youth mobility. On the one hand, this new trend has generated a relative media distortion. On the other hand, it could have future implications for the sustainability of the Spanish welfare state.

  13. Forecasting performance of three automated modelling techniques during the economic crisis 2007-2009

    DEFF Research Database (Denmark)

    Kock, Anders Bredahl; Teräsvirta, Timo

    In this work we consider forecasting macroeconomic variables during an economic crisis. The focus is on a speci…c class of models, the so-called single hidden-layer feedforward autoregressive neural network models. What makes these models interesting in the present context is that they form a cla...... during the economic crisis 2007–2009. Forecast accuracy is measured by the root mean square forecast error. Hypothesis testing is also used to compare the performance of the different techniques with each other....

  14. 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.

  15. 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.

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

    Directory of Open Access Journals (Sweden)

    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.

  17. Impact of the financial crisis on COPD burden: Greece as a case study

    Directory of Open Access Journals (Sweden)

    Ourania S. Kotsiou

    2018-01-01

    Full Text Available Poverty and low socioeconomic status have been associated with chronic obstructive pulmonary disease (COPD. The current financial crisis has forced millions back into poverty. Greece is one of the countries hit the hardest, and is in the middle of a deep ongoing collapse. There have been early reports stating the apparent effects of the Greek downturn on respiratory health. This review summarises the overall impact of the financial crisis on COPD burden throughout the period of economic downturn by analysing the case study of Greece. In all levels of the healthcare system, current economic restrictions have reduced the capacity to prevent, diagnose and treat COPD in parallel with current higher detection rates of COPD. Remarkably, expenditure on healthcare has been reduced by >25%, resulting in major healthcare equipment shortages. Lower wages (by up to 20% and higher co-payments of up to 25% of a drug's purchase price have led to patients struggling to afford inhaled medications. Treatment nonadherence has been reported, resulting in 11.5% more exacerbations and 14.1% more hospitalisations annually, while the mean cost per severe COPD exacerbation has been approximated as €2600. Greece is a noteworthy example illustrating how COPD burden, quality of care and patients' outcome can be affected by economic crisis.

  18. THE 2000-2001 FINANCIAL CRISIS IN TURKEY AND THE GLOBAL ECONOMIC CRISIS OF 2008-2009: REASONS AND COMPARISONS

    Directory of Open Access Journals (Sweden)

    Dilek TEMİZ

    2009-01-01

    Full Text Available The economic crisis of 2000-2001 was proved to be demolishing for Turkey after the abundance of currency peg in the same year. The crisis in question stemmed from insufficient implementation of regulations, inadequate depth of the capital markets, lack of assessment of risk, excessive lending to incorporated institutions by national banks, restricted interest rates, monitored foreign exchange operations, limited foreign asset holding, lack of competition, barriers to foreign entry high liquidity, chronic inflation and a deficit in balance of payments. However, the crisis that Turkey was subject to in 2008-2009 was quite different than the previous ones as to be a result of world matters. The sparking effect begun in the USA at the mortgage market, the fail of the mortgage market negatively influenced the capital, stock and derivative markets and spread the world. Thus, this study aims to analyze and reveal the reflections of the 2000-2001 and 2008-2009 crises and their comparison with regards to Turkey on theoretical basis resting on numerous comprehensive and credible national and international publications.

  19. 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...... decades. The emphasis is placed on (involuntary) part-time and temporary employment. With regard to labour market developments, the author demonstrates a further segmentation during the crisis, in particular for youth and people with low educational levels who have been disproportionately affected...... by unemployment. Due to data deficiencies, it is difficult to judge conclusively whether the crisis has contributed to more or to less segmentation in welfare coverage. In fact, there seems to be a division between countries in this regard and the deliberate opening up of unemployment schemes in several countries...

  20. Economic Crisis and Portuguese National Health Service Physicians: Findings from a Descriptive Study of Their Perceptions and Reactions from Health Care Units in the Greater Lisbon Area

    OpenAIRE

    Inês Rego; Giuliano Russo; Luzia Gonçalves; Julian Perelman; Pedro Pita Barros

    2017-01-01

    Introduction: In Europe, scant scientific evidence exists on the impact of economic crisis on physicians. This study aims at understanding the adjustments made by public sector physicians to the changing conditions, and their perceptions on the market for medical services in the Lisbon metropolitan area. Material and Methods: A random sample of 484 physicians from São José Hospital and health center groups in Cascais and Amadora, to explore their perceptions of the economic crisis, and the...

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. EFFECTS OF ECONOMIC CRISIS ON THE ROMANIAN ECONOMY

    OpenAIRE

    Valeriu Potecea; Georgiana Cebuc

    2010-01-01

    Romania, which for 50 years was part of the "communist experiment", returned in 1989 to rules of market economy, hoping that within a reasonable period will reap the benefits of capitalist values. Global seizures that began to affect the whole world economic system in 2008, from the U.S., seem to invalidate not only all political and economic accumulation obtained by our country in almost 20 years but efforts to affect and ideal economic theories which fully adhered

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

    Directory of Open Access Journals (Sweden)

    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.

  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. The impact of the financial crisis on the currency and the monetary system

    Directory of Open Access Journals (Sweden)

    Petre DEACONU

    2010-09-01

    Full Text Available The present-day economic and financial crisis (depression appears unprecedented in the last half century. The international financial crisis has been extended to the Romanian economy. However, in terms of direct impact, the Romanian banking system was less affected by not being exposed to toxic assets, and because of prudential and administrative measures taken by the NBR. Indirectly, however, the international financial crisis and especially its obvious consequence – the recession in developed countries - has expanded to the Romanian economy, on several channels. The shopping channel slowed export growth and even reduced them. The financial channel has limited the access to external financing, and thus restricted the lending volume, generating private external debt service difficulties. On the exchange rate channel, the reduction in external financing reflected in national currency depreciation. On the confidence channel, there was a withdrawal of investors from Eastern Europe countries. Among the measures adopted by the central bank, the most notable were targeting inflation and currency interventions. By adopting inflation targeting, the central bank opted to make more room in establishing foreign exchange market, and after the onset of the current international financial crisis, including the 2009-2010, adopted a controlled floating exchange rate. This does not mean intervention in the forex market on a discretionary basis. NBR policy on foreign exchange intervention has been guided by the philosophy that high exchange rate volatility is harmful for both the inflation target and the financial health of the real and financial sector.

  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. Economic impact of GM crops

    Science.gov (United States)

    Brookes, Graham; Barfoot, Peter

    2014-01-01

    A key part of any assessment of the global value of crop biotechnology in agriculture is an examination of its economic impact at the farm level. This paper follows earlier annual studies which examined economic impacts on yields, key costs of production, direct farm income and effects, and impacts on the production base of the four main crops of soybeans, corn, cotton and canola. The commercialization of genetically modified (GM) crops has continued to occur at a rapid rate, with important changes in both the overall level of adoption and impact occurring in 2012. This annual updated analysis shows that there have been very significant net economic benefits at the farm level amounting to $18.8 billion in 2012 and $116.6 billion for the 17-year period (in nominal terms). These economic gains have been divided roughly 50% each to farmers in developed and developing countries. GM technology have also made important contributions to increasing global production levels of the four main crops, having added 122 million tonnes and 230 million tonnes respectively, to the global production of soybeans and maize since the introduction of the technology in the mid-1990s. PMID:24637520

  11. Review: Global economic crisis and nutrition security in Africa ...

    African Journals Online (AJOL)

    For nearly a decade, sound economic policies and greater external support, in the forms of debt relief and increased investment and inflows contributed to robust economic growth in many African countries. During 2007 and 2008, though, food and fuel price shocks put inordinate strains on these nations' balance sheets, ...

  12. 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

  13. THE AFTERMATH OF THE ECONOMIC CRISIS: HEALTHCARE SYSTEMS’ INEQUALITIES IN EUROPE

    Directory of Open Access Journals (Sweden)

    Silvia PALASCA

    2014-12-01

    Full Text Available During an economic downturn the non-productive sectors (education, health, and social services are the most exposed to sudden policy changes, as a result of austerity measures. This article aims to assess the impact of the late 2000’s crisis on some European countries’ healthcare systems in order to highlight the link between the breakdown of the economic context and the negative outcomes on a social level. In this regard, a panel data analysis was employed, focusing on out-of-pocket health expenses as an estimation of a nation’s wellbeing and healthcare development level. The cross-time results indicated a clear collapse of all national healthcare systems in 2009 while the cross-section effects implied that the twenty three countries could be divided in three groups according to their healthcare policy, especially regarding health insurance. Thus, countries should pay more attention to the private insurances component of the healthcare systems as the others are defenseless against business cycle fluctuations.

  14. 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.

  15. 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.

  16. The snakebite problem and antivenom crisis from a health-economic perspective.

    Science.gov (United States)

    Habib, Abdulrazaq G; Brown, Nicholas I

    2018-05-19

    The scourge of snakebite has been well documented but largely ignored by the global health community for several decades, especially the role that economics has played in causing and exacerbating this crisis. Every year millions of people in low and middle-income countries face death, disability and disadvantage from snakebite envenoming (SBE) without access to appropriate treatment. Health-economic factors pervade every aspect of this neglected problem. A multitude of financial and commercial factors helped to cause, and now perpetuate, shortages of high quality, affordable and region-appropriate antivenom in areas where they are most needed. Alongside the death, physical disability and psychological anguish from SBE is a debilitating financial toll, which includes both direct costs of treatment and indirect costs from lost income. SBE is a problem that disproportionately affects poor, rural and agrarian communities, with most victims being young and industrious subsistence workers. The burden of envenoming is often felt by families and communities that can least afford it, and negatively impacts local and national productivity. The lack of long-term investment in health systems to properly manage SBE has led to insufficient funding for antivenom development, procurement, quality control and distribution, despite highly favourable cost effectiveness of some antivenoms. This has contributed to market failures that have seen antivenom output fall and become inaccessible to most victims. Solutions to these problems exist and are achievable, however the challenge for advocates is to appreciate the importance of health-economics and ensure that strategies to redress the economic causes and consequences of SBE are themselves cost-effective and financially sustainable. Copyright © 2018 Elsevier Ltd. All rights reserved.

  17. QUALITATIVE MARKETING RESEARCH REGARDING THE IMPACT OF THE CRISIS ON THE ACTIVITY OF THE LEASING COMPANIES

    Directory of Open Access Journals (Sweden)

    CRISTINA BĂLTEANU

    2012-01-01

    Full Text Available The financial crisis has caused the economic system both direct and indirect effects. Negative macroeconomic shocks have had a direct impact on the results of leasing companies, and effects such as panic and "nervous breakdown" also had major repercussions. The purpose of this paper based on a qualitative marketing research is knowing, on the one hand, the effects of the crisis on the consumption of leasing products/services and, on the other hand, the factors that caused these effects. The study also aimed to outline the possible evolution of the leasing services offers over the next three years, taking in consideration the measures taken by leasing companies in order to restart the financing process through this system.

  18. Impact of financial crisis on selected health outcomes in Europe.

    Science.gov (United States)

    Baumbach, Anja; Gulis, Gabriel

    2014-06-01

    A number of health outcomes were affected by previous financial crises, e.g. suicides, homicides and transport accident mortality. Aim of this study was to analyse the effects of the current financial crisis on selected health outcomes at population level in Europe. A mixed approach of ecologic and time trend design was applied, including correlation analysis. For eight countries, data on the economic situation (unemployment rate and economic growth) and health indicators (overall mortality, suicide and transport accident mortality) was drawn from EUROSTAT database for 2000-10. Spearman's rank correlation was applied to analyse the influence of social protection on the association between exposure and outcome variables. The financial crisis had no visible effect on overall mortality in any of the eight countries until 2010. Transport accident mortality decreased in all eight countries, in the range of 18% in Portugal to 52% in Slovenia. In contrast, suicide mortality increased in Germany (+5.3%), Portugal (+5.2%), Czech Republic (+7.6%), Slovakia (+22.7%) and Poland (+19.3%). The effect of unemployment on suicide is higher in countries with lower social spending (Spearman's r = -0.83). Clear cause-effect relations could not be established owing to the ecological study design and issues concerning data availability. However, there are clear changes in suicide and transport accident mortality after onset of the crisis, and findings are consistent with previous work. As part of this work, a comprehensive framework was developed, which can be applied to analyse health effects of financial crises in more detail. © The Author 2014. Published by Oxford University Press on behalf of the European Public Health Association. All rights reserved.

  19. L'IMPACTE DE LA CRISI ECONÒMICA GLOBAL EN EL SISTEMA DE DESCENTRALITZACIÓ POLÍTICA A ESPANYA

    Directory of Open Access Journals (Sweden)

    Carles Viver Pi-Sunyer

    2011-04-01

    Full Text Available This article has a double objective for analysis: the impact of the economiccrisis and measures adopted to cope with it within the current system ofpolitical decentralisation in Spain, and conversely, the impact of that decentralisationon the economic crisis and on the effectiveness of the measuresadopted. The article is divided into two parts. In the fi rst part there is a verybrief presentation of the data of the economic crisis and its economic, social,political and legal repercussions as well as the impact of the State onthe autonomous regions in terms of the characteristics of the Spanish economiccrisis. The second part follows the same system in relation to themeasures adopted: they are described and their effects on the system ofpolitical decentralisation are shown as well as the impact of that systemon the effi ciency and effectiveness of those measures. The article concludesby affi rming that, for the moment, the crisis has had a moderate impactwith respect to political decentralisation and that the system of decentralisationhas played an essentially neutral role in relation to the crisis and themeasures adopted to cope with it. The fact that since before the crisisthe State was already enjoying a clear position of pre-eminence with respectto the Autonomous Communities, is used to explain this double phenomenon,and most especially in relation to economic policy. Also, the factthat the system of distribution of powers is highly deconstitutionalised inSpain, in the sense that its precision is largely freely regulated by centralState government bodies must also be taken into account. For these tworeasons, the State has not had to introduce reforms or changes to the systemwhen adopting the measures it considered necessary in order to copewith the economic crisis.

  20. 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....

  1. 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…

  2. 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

    markdownabstract__Abstract__ Using data for 28 European countries for the 2008-2012 period, 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

  3. 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…

  4. Negotiating the crisis? Collective bargaining in Europe during the economic downturn

    NARCIS (Netherlands)

    Glassner, V.; Keune, M.

    2010-01-01

    This paper highlights in the role of the key actors in the labour market, which are the trade unions, the employer organizations and the state, in negotiating responses to the economic downturn. As the crisis revealed, the role of the state changed with regard to the prevailing paradigm of the

  5. The Effects of the Economic Crisis on Inter-Ethnic Relations in Cypriot Schools

    Science.gov (United States)

    Vryonides, Marios

    2014-01-01

    The aim of the paper is to examine the effects of the current economic crisis in the way teenagers experience and report interethnic relations with emphasis on interethnic violence in the school environment in Cyprus. It will report findings from an EU funded project which was recently completed (2012) titled: "Children's voices: Exploring…

  6. 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…

  7. As the Economic Crisis Hits Home, Colleges Seek Help from Congress

    Science.gov (United States)

    Field, Kelly

    2008-01-01

    Congress is crafting a second economic-stimulus bill, and the nation's colleges, hit by the deepening fiscal crisis, want a share of the money. Over the last few weeks, colleges and their lobbyists have bombarded members of Congress with letters and phone calls seeking money for research, student aid, and infrastructure. However, Congress is…

  8. The Impact of the Economic Transition on the Development of Economic Freedom – Case of Poland

    Directory of Open Access Journals (Sweden)

    Anna Stepniak-Kucharska

    2015-06-01

    Full Text Available The changes in the Polish socio-economic system, initiated at the turn of 1989 and 1990, led to a systematic increase in the liberalization of economy and thereby the rise of the level of economic freedom. The aim of this paper is to examine the impact of the economic transition on the development of economic freedom in Poland. The analysis, carried out in the period 1995-2015, was conducted on the basis of the chain-linked Economic Freedom Index by the Fraser Institute and the Index of Economic Freedom of the Heritage Foundation and the Wall Street Journal. The analysis indicates that: (1 Poland cannot be considered as a country that is fully free economically, but the transition of its economic system has resulted in a rapid growth of economic freedom. (2 The impact of transition varies for different areas (sub-indices of the economy. (3 The European economic integration stimulated the increase of EFI, but the economic crisis did not decrease the level of economic freedom.

  9. 27 Business Recovery Strategies in the Economic Crisis of ...

    African Journals Online (AJOL)

    User

    2012-01-24

    Jan 24, 2012 ... great depression 1929 that lasted for 43 months, the Asian economic collapse .... understand current situation and what the key drivers of performance have been and will be .... Academic Staff Union of Universities (ASUU).

  10. 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

  11. MIGRATION IMPACT ON ECONOMICAL SITUATION

    Directory of Open Access Journals (Sweden)

    Virginia COJOCARU

    2016-01-01

    Full Text Available This paper presents recent trends and flows of labor migration and its impact on economic and social life. Main aim of this research sets up the influence of the migration on the European economics and its competitiveness. Methods of research are: method of comparison, analysis method, method of deduction, method of statistics, modeling method. The economic impact of migration has been intensively studied but is still often driven by ill-informed perceptions, which, in turn, can lead to public antagonism towards migration. These negative views risk jeopardising efforts to adapt migration policies to the new economic and demographic challenges facing many countries. Migration Policy looks at the evidence for how immigrants affect the economy in three main areas: The labour market, public purse and economic growth. In Europe, the scope of labour mobility greatly increased within the EU/EFTA zones following the EU enlargements of 2004, 2007 and 2014-2015. This added to labour markets’ adjustment capacity. Recent estimates suggest that as much as a quarter of the asymmetric labour market shock – that is occurring at different times and with different intensities across countries – may have been absorbed by migration within a year.

  12. CHALLENGES OF THE AUDITING PROFESSION IN THE CONTEXT OF ECONOMIC CRISIS

    OpenAIRE

    ADRIAN GROSANU; PAULA RAMONA RACHISAN

    2010-01-01

    The crisis that influences the contemporary worldwide economy is the result of the manner in which the financial-economic system is built and of the manner in which the patrimonial situation and the performances of the economic entities are evaluated and presented. As a result of the public interest for the auditing profession, the financial auditor develops his/ her activity by respecting some regulations particularly elaborated for this profession (the code of ethics and the audit standards...

  13. INDUSTRIAL REGIONS OF RUSSIA IN THE CONDITIONS OF THE GLOBAL ECONOMIC CRISIS

    Directory of Open Access Journals (Sweden)

    B.L. Kuznetsov

    2009-09-01

    Full Text Available This article considers reasons and consequences of the global economic crisis from the point of view of Russian regions development. The focus of an article is on the socio-economic situation of the Republic of Tatarstan – the territory with a large machine-building industry. Authors explain a need for the clear and efficient industrial policy both at the federal and regional levels of government. It should be oriented for the innovative development, resource saving and import replacement.

  14. New Challenges of Contingency Theory in Management Accounting System, in Terms of Global Economic Crisis

    OpenAIRE

    Ene Dumitru

    2010-01-01

    This paper aims to answer the question: 1. The contingency theory can be a source of improvement in management accounting research ,in terms of global economic crisis?’’ 2. Can be Contingency factors a bridge between organizational theories and management accounting? Research purpose: -The contingency theory can be a source of improvement in management accounting research, in terms of global economic crises; -Contingency factors can be a bridge between organizational theories and management a...

  15. 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...

  16. The main trends of dynamics of incomes of Russians in times of economic crisis

    Directory of Open Access Journals (Sweden)

    O. L. Petryakova

    2016-01-01

    Full Text Available A research objective which result was this article is the analysis of dynamics of the income of families during the last economic crisis in Russia and influence of change of the standard of living on performance by a family of the main functions, first of all reproductive, zhizneokhranitelny and educational. Now quite steady growth of birth rate, improvement of the indicators characterizing family trouble (refusals of the born children, deprivation of the parental rights, deviant behavior of children and teenagers and health of children and teenagers is observed, however, as a result of decrease in the standard of living, increase in employment of parents, violation of this favorable tendency is possible. The research is based on the analysis of statistical and sociological information, including results of polls of the population, in him the research of ranks of dynamics, graphic and tabular methods is applied. In article sources of the income of the population, first of all – the salary and social payments exerting the greatest impact on the level of the income in general are considered. On the basis of the carried-out analysis the main tendencies characterizing extent of fall of the income of families with children proceeding from this research are formulated, it is possible to speak about increase of needs of families in measures of economic support. However, at the same time becomes the negative moment on the one hand, extremely low knowledge of families of already available measures of such help, and with another – their low assessment and unwillingness to participate in these or those programs offered by the state. In turn it is the factor worsening financial position of families too. High prosperity, material security still (as well as the 90th years, as well as at the beginning of this century are on an equal basis with a family and children the leading value of Russians. It is connected, first of all

  17. Economic Impacts of Power Shortage

    Directory of Open Access Journals (Sweden)

    Peng Ou

    2016-07-01

    Full Text Available The electricity industry is a basic industry of the national economy. It has experienced several large-scale power shortages, hard power shortage and soft power shortage, which have brought a great threat to China’s sustainable economic development. To solve this problem better, it is necessary to make a quantitative assessment of the economic impacts of power shortage. The CGE model is commonly used for simulating economic shocks and policy effects. It describes supply, demand and equilibrium in different markets by simulating the economic mechanism through a set of equations. Once changed, the exogenous variables will affect a certain part of the system and then the whole system, leading to changes in quantities and prices. The equilibrium state will also change from one to another. A static CGE model is built in this paper, and the Social Accounting Matrix (SAM of eight sectors of China in 2007 is compiled, in order to simulate the economic impacts of hard power shortage and soft power shortage. Simulation results show that the negative effects of power shortage on economic development are very significant, and the effects vary in different sectors. Especially, under the background of hard power shortage, the industrial sector suffers most. The economic cost of power shortage is considerable, and the main reason for it is the specific administrative pricing system in China. The low electricity price in the long term will lead to insufficient construction and hard power shortage; moreover, that in the short run would result in soft power shortage. In order to solve the problem of power shortage completely, power system reform is inevitable.

  18. Crisis and Employment: The Case of Korea

    Science.gov (United States)

    Cho, Dongchul; Shin, Sukha

    2012-01-01

    This paper examines Korea's employment dynamics and analyzes how adverse impacts could be mitigated during the recent economic crisis in comparison with the 1997 to 1998 Asian crisis. A clear lesson is that policies to mitigate adverse impacts of financial crisis on the macroeconomic level should be given priority for preserving employment. In…

  19. Materials mobilized by the French economy from 1990 to 2011: a relative stability disturbed by the economic crisis

    International Nuclear Information System (INIS)

    Louis, Herve

    2013-04-01

    While proposing graphs and tables indicating the evolution of material extractions, imports and exports, consumption, and a comparison between material consumption per inhabitant in France and in other European countries and other countries of the World, this document comments the evolution from 1990 to 2011 of various reference values such as Direct Material Input (DMI), Domestic Material Consumption (DMC), Total Material Requirement (TMR), and Total Material Consumption (TMC). Domestic consumption, material extractions, imports and exports are also given for different types of materials (biomass, wood, metals, coal, oil products, and so on). The difference between hidden and apparent fluxes as well as the impact of the economic crisis are highlighted

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

    Directory of Open Access Journals (Sweden)

    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.

  1. 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

  2. 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.

    The paper explores the effects of the current global economic crisis on small and medium enterprises (SMEs) and the responses these SMEs undertake to cope with these effects. In other words, how entrepreneurs respond to the decline in their firm’s performance that is the result of this global...... 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...

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

    Directory of Open Access Journals (Sweden)

    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.

  4. 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.

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

    Directory of Open Access Journals (Sweden)

    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.

  6. Keynesianism vs. Classical Economic Theory: European Refugee Crisis and the Fall of Multiculturalism

    Directory of Open Access Journals (Sweden)

    Aliaksei Igor Patonia

    2017-09-01

    Full Text Available Posing arguments against statistical evidence picturing the European Union as the key world economy, the research views the economic model of the EU through the prism of Hofstede’s cultural dimensions, explaining its lower resistance towards the global economic crisis and comparing it to China – a country with authoritarian governmental methods – that suffered to a significantly lesser extent. Based on the example of these two entities, the paper views the topic of the current refugee crisis in Europe representing it as a new crucial trial for the EU that potentially checks classical economic theory for consistency. According to the author, if found effective, in the foreseeable future it will form a sound basis for further development, if not – it will likely be replaced by the Keynesian paradigm. Thus, with the current refugee crisis in Europe, the author juxtaposes liberal economy with the state-regulated one. This is done to give hints at the importance of the crisis per se, as it is believed to be capable of shattering some of the fundamental principles of the current world order.

  7. 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...

  8. Economic implications of oil crisis and transport sector in India

    Energy Technology Data Exchange (ETDEWEB)

    Pathak, M G

    1980-01-01

    Efforts towards fuel economy in the transport sector have heavily stressed engineering aspects of the automobile. Better roads and better traffic planning too, go a long way in conserving energy. The paper outlines the economic implementations of the hike in oil prices with reference to the transportation sector.

  9. The Global Economic Crisis and the Africa Rising Narrative

    African Journals Online (AJOL)

    left to its own devices, its destructive power is incalculable.This article situates ... economic growth (UNDP 2014), this needs to be measured more accurately, taking into ... working and living environments, including being placed close to the polluting ... While climate change conferences temporarily put the natural limits to.

  10. Evidence for the 2008 economic crisis exacerbating depression in Hong Kong.

    Science.gov (United States)

    Lee, Sing; Guo, Wan-Jun; Tsang, Adley; Mak, Arthur D P; Wu, Justin; Ng, King Lam; Kwok, Kathleen

    2010-10-01

    There is a lack of population-level research on the relationship between economic contraction and specific mental disorders and how individual-level variables may mediate such a relationship. Two cross-sectional surveys using identical random sampling and diagnostic methods were conducted among Hong Kong adults in 2007 (January-February) and 2009 (April-May). 3016 and 2011 Chinese speaking adults completed structured interviews based on the criteria of Diagnostic and Statistical Manual of Mental Disorders (4th edition) (DSM-IV). The twelve-month prevalence of DSM-IV major depressive episode (MDE) was significantly higher in 2009 (12.5%) than 2007 (8.5%). A significant increase of prevalence was found in both male and female respondents, those in the highest (55-65 years) age group, having secondary education level, were married/cohabited, divorced/widowed, employed, home-making, and in the lowest and high-middle income groups. Those with large investment loss had a significantly higher prevalence of MDE (20.3%) than those with less or no-investment loss (9.2-13.7%). The symptom pattern and severity of depression in 2007 and 2009 were similar. Economic contraction triggered by a global financial crisis was associated with a significant increase in the risk of depression in the Hong Kong population. This increase was not explained primarily by unemployment and had a significant contribution from employed, home-making, high-middle income, and having married people. A holistic perspective that encompasses both ecological and individual levels of analysis is essential for studying the net impact of economic contraction on depression across communities and sociodemographic groups and for health policy planning. Copyright 2010 Elsevier B.V. All rights reserved.

  11. Examining the EU-China Relationship in the Aftermath of the Economic Crisis

    DEFF Research Database (Denmark)

    Wu, Po-Kuan; Jensen, Mads Christian Dagnis

    2017-01-01

    . These two opposing theoretical claims are examined by process tracing two most likely cases. This article concludes that despite its increased economic strength, China has enjoyed limited success in persuading the EU and its member states to change their position(s) on policy areas involving strategic......This article examines how, if at all, the changed economic order in the aftermath of the economic crisis in 2008 has shaped the relationship between the EU and China. Theoretically, two prevalent opposing narratives in the public discourse are presented and linked to two crude versions...... of mercantilism and economic liberalism in the scholarly literature. The mercantilist line of reasoning posits that China will gain more political weight with its increasing economic strength. The economic liberal line of reasoning suggests that China’s economic weight does not translate into political power...

  12. Public finances in Romania during and after the economic crisis 2008-2009

    Directory of Open Access Journals (Sweden)

    Stelian Dan CÂMPEAN

    2015-05-01

    Full Text Available The aim of this article is to present Romania’s problems and solutions during and after the economic crisis of 2008-2009. The paper starts with the definitions of public finances and economic crisis and also a brief description of Romania’s economy, continuing with a deeper analysis of the determinants and symptoms of the recession in the country, as well as the perspectives for further development. The financial assessment of Romania’s situation in the broader EU context can be understood by looking at the GDP and the country’s economic activities in relation to it, and by reviewing the information supplied by the National Bank of Romania and others institutions and selected literature. The article is complemented by author’s opinions.

  13. 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.

  14. Determinants of child malnutrition during the 1999 economic crisis in selected poor areas of Indonesia.

    Science.gov (United States)

    Bardosono, Saptawati; Sastroamidjojo, Soemilah; Lukito, Widjaja

    2007-01-01

    There is empirical evidence at the national level that suggests the 1999 Indonesian economic crisis impact was very heterogeneous both between urban and rural areas and across regions. A cross sectional study of the nutritional status of children and its determinants was performed in urban poor areas of Jakarta, and rural areas of Banggai in Central Sulawesi, and Alor-Rote in East Nusa Tenggara. Two-stage cluster sampling was used to obtain 1078 households with under-five children in the urban poor area of Jakarta, and 262 and 631 households with under-five children each for the rural areas of Banggai and Alor-Rote, respectively. Data collection for both studies was performed from January 1999 to June 2001. The study shows that wasting affected more children in the urban poor areas of Jakarta than in the other study areas. On the other hand, stunting and anemia were significantly more severe among children 6-59 months of age in the rural area of Alor-Rote compared to the other study areas. The high prevalence of infectious diseases was significantly related to the higher prevalence of wasting in the study areas of Jakarta and Banggai, and also significantly related to the higher prevalence of stunting and anemia in the study area of Alor-Rote. To avert this kind of health impact of a economic downturn, there is a need to improve the nutritional and health status of under-five children and their mothers through the existing health care system, provide basic health services and improve the capacity of health staff across Indonesia as part of the decentralization process.

  15. 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.

  16. The Impact of the Global Financial Crisis on Japan's Higher Education

    Science.gov (United States)

    Huang, Futao

    2011-01-01

    This paper deals with the impact of the global financial crisis on Japan's economy, especially on its higher education. The first section provides an overview of Japan's national economy with a focus on the impact of the global financial crisis on the national economy, then the author touches on the impact on the Japanese government's finances,…

  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. U.S. Economic Debt Crisis Solutions: Adjusting Army Manpower

    Science.gov (United States)

    2012-02-27

    leaders must lower the reliance on Army manpower in responding to global issues while working to refocus the diplomatic, informational and economic...as many former Presidents, saw the utility and correspondingly endorsed the need to lead with diplomatic efforts in confronting global issues and 19...national power are often seen as a balancing act in addressing global issues , any reduction or addition to one element requires consideration of a

  19. Debate on science and technology promotion for overcoming economic crisis

    International Nuclear Information System (INIS)

    1990-05-01

    This book records debate point and topic presentation of debate on science and technology promotion for overcoming economic difficulties which lists opening greeting, topic presentation such as innovation of national science technology system, sufficient supply and demand of science and engineering personnel, invigoration of technology research of corporation and general debate. This debate was held by the Policy Board of democratic and liberal party on 22 May 1990 in Press center.

  20. A Didactic Reconstruction of the Financial and Economic Crisis

    Directory of Open Access Journals (Sweden)

    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.

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

    Directory of Open Access Journals (Sweden)

    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

  2. Implementing the EU climate and energy package with the economic crisis

    International Nuclear Information System (INIS)

    Kerebel, C.

    2009-01-01

    In March 2007, the European heads of state and government agreed at their European Council upon a 20% greenhouse gas (GHG) emission reduction target compared to 1990-levels and a 20% share of renewable energies in EU's final energy consumption by 2020. To implement these commitments, the European Commission prepared a set of legislative proposals - the so-called 'Climate and Energy Package' - which was jointly endorsed by the European Parliament and the European Council in Dec. 2008 and formally adopted in April 2009. This new policy will run from 2013 to 2020. Hence, the reinforcement of European Union's energy and climate policy in the decade to come was decided and prepared in 2007-2008. But in the meantime, the economic conditions worldwide and in Europe more particularly have radically changed compared to what they were in 2007-2008 when the package was designed. The European Commission has drafted its proposals for the Climate and Energy Package following the outcomes of an impact assessment based on several modeling tools. These modeling tools were not used for determining the 20-20 in 2020 targets or checking their feasibility - those were political targets decided by the European Council in March 2007. The models served to assess the effects and costs of different allocation methodologies. In its drafting proposals, the Commission projected an annual Gross Domestic Product (GDP) growth of 2.2% on average until 2010 in the EU and a 2.4% growth between 2010 and 2020. But because of the economic crisis, the European Union has on the contrary seen a sharp fall of its GDP in 2009: according to the latest forecast by the International Monetary Fund (IMF), which is quite similar with forecasts from other organizations, such as the European Commission or the OECD, the EU-27 should see its GDP decrease by 4.2% in 2009. Opinions are divided when it comes to the question of when and how fast the economy recovers. The IMF has predicted a rather flat GDP growth in 2010

  3. 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.

  4. How great is Latvia's success story? The economic, social and political consequences of the recent financial crisis in Latvia

    OpenAIRE

    Austers, Aldis

    2014-01-01

    The current state of Latvia can be best described in medical terms: the patient is pale, but alive. The financial woes have been successfully resolved, but economic, social and political challenges remain. The crisis is continuing to affect the fabric of social and political life in Latvia. This paper looks at the economic, social and political consequences of the recent financial crisis and the ensuing economic collapse in Latvia and suggests some remedial actions.

  5. STRUCTURAL EFFECTS AND MUTATIONS CAUSED BY THE ECONOMIC CRISIS ON FURNITURE TRADE AT THE EUROPEAN UNION LEVEL

    OpenAIRE

    Radu Marginean

    2013-01-01

    The global economic crisis had most negative effects on the entire economic sphere and especially in what the consuming industry is concerned, which may be considered “luxurious”, the way in which we may talk about the furniture industry. Along times of economic crisis at social level, a decrease in financial power at microeconomic, individual level is felt. Under conditions of social decrease in buying capacity, the request for commercial furniture is in rapid fall and thus the industry as s...

  6. 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.

  7. The Financial Crisis, A Problem Of Economic Ethics And Of Morality?

    Directory of Open Access Journals (Sweden)

    Napoleon POP

    2012-09-01

    Full Text Available Many experts interested in explaining and understanding the deepness of latest financial crisis, far away yet to be solved, have gone beyond the appearances capture only by the economic science. It is more than sure that bubble on US prime rate real estate market was a only the detonator of much more complex mechanism built in time behind the scene of the financial system. Two things are more perceivable, the lack of comprehensive, but not overburdened, regulations and the sophisticated financial products less understood even by the managers of the financial institutions using them. A question still remains. Who was actually in charge with the explosion and the changing nature of the derivatives products, as innovation in every field of human activity is not always to be blamed? When the crisis burst, we were talking about toxic financial products with a huge capability to contaminate the entire globe. When the things became a little calmer, we started to call them exotic financial products and now it is a vague feeling of forgetting about the bad impact they produced, focusing ourselves on the new and more needed regulation of the global financial system, leaving aside the human behavior. What we see is that financial world became huge as compared with the real economy and, as a long time and well experienced former banker said, huge money are looking for more huge yields, producing more money out of nothing. That simple thought brings us to the ethic in economics and morality in the financial system, completely reversed from the normality, if just have a look to the anti cycle movement between the bonus policy and the losses or failures of some banks in the latest years. The connection is to be found in the risky management of the risks in very exposed markets to the information asymmetry, moral hazard and herd behavior. We let you know that this article is an inspiring root for an extensive study dedicated to the global money, in search of

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

    Directory of Open Access Journals (Sweden)

    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.

  9. Public perception of climate change in a period of economic crisis in Puerto Rico

    Directory of Open Access Journals (Sweden)

    María Santos-Corrada

    2017-02-01

    Full Text Available In this study, an analysis is performed to measure Puerto Rican citizens’ perceptions of environmental issues and global climate change (GCC. Puerto Rico (PR is presently facing an economic crisis that began in 2010. In addition, the island has faced many extreme weather events that have greatly impacted the economy, including a dry period that lasted from the beginning of 2014 until the end of 2015 [1]. By replicating a study done in Greece (GR, [2] found that the citizens of PR are more informed about GCC (43% than Greeks (34%. However, only 29% of Puerto Ricans said they knew about the effects of greenhouse gases, as compared to 44% of Greeks. The citizens of PR (67% and GR (91% claim they do not have confidence that their respective governments and agencies will be able to face GCC. In both cases, they have a higher confidence level in environmental organizations than in the scientific community. In PR, 89% of the citizens are concerned about the degradation of natural resources. At 64%, this concern is also significant in the case of GR, although the figure has decreased from previous years. Both countries place more responsibility in the hands of those in government and industry to take action on GCC. That being said, the people of GR have made it known they are willing to perform individual actions as well.

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

    Directory of Open Access Journals (Sweden)

    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.

  11. Austerity, economic crisis, and their persistent effects on mental health in Greece

    Directory of Open Access Journals (Sweden)

    Christodoulou Nikos

    2016-01-01

    Full Text Available Since its beginning in 2008, the on-going global economic crisis has left many countries struggling with a disaster. Greece is probably the worst affected country, having lost close to a third of its economic productivity, and being still under the imposition of harsh austerity measures. Individual mental health has suffered, as suicide, depression and anxiety, among others, substantially rose during the crisis. Despite efforts to protect mental health systems, they were severely and persistently affected, and evidence suggests that eventually they started failing to meet the health needs of the population. In this narrative review we sought to explore the reasons for this persistent detrimental effect. We identified several evidence based examples of resonating factors that could help explain why the effects of the crisis are so persistent. We suggest that mental health systems need additional support and investment to overcome the resonating effects of the crisis and to meet the population’s mental health needs We also suggest that such resonating effects should be taken into account for contingency planning and the prevention of future crises.

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

    Directory of Open Access Journals (Sweden)

    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.

  13. Economic impact of PCI remedies

    International Nuclear Information System (INIS)

    Bairiot, H.

    1980-01-01

    The paper first outlines the data base on which the economic evaluation is performed. It includes: modifications of the design of the fuel; preconditioning of the fuel; ramping limitations; in-core fuel management modifications. The economic assumptions on which the study is performed are also outlined. They are representative of a PWR situation. For what fuel design modifications are concerned, some have a minor cost impact (e.g. pellet density, pellet length to diameter ratio, gap size, etc...), while some others may have a quite large impact on the fissile material cost (e.g. duplex pellet), the fabrication cost (e.g. coating of the cladding ID) or the reprocessing cost (e.g. interlayer between pellet and cladding). The preconditioning of the fuel may require to run the reactor in a mode unrelated to the energy demand. This aspect can be minimized by a proper adjustment of in-core fuel management. The ramping limitation is the most usually adopted approach. Different cases are investigated and the impact on generating cost is discussed. The in-core fuel management can also contribute to a better ramping performance of the fuel. Exemplative cases show that this leads to a minimum cost penalty. (author)

  14. Economic Engagement Framework: Economic Impact Guidelines

    Science.gov (United States)

    Ambargis, Zoë; Mead, Charles Ian; Rzeznik, Stanislaw J.; Swenson, David; Weisenberger, Janet

    2014-01-01

    The Association of Public and Land-grant Universities' (APLU's) Commission on Innovation, Competitiveness, and Economic Prosperity (CICEP) views university contributions to the economy across a spectrum of activity--from educating students and creating the talent necessary for the 21st century workforce to developing innovation ecosystems and…

  15. 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.

  16. The economic crisis and the energy efficiency programs

    International Nuclear Information System (INIS)

    Naturesa, Jim Silva; Mariotoni, Carlos Alberto

    2010-01-01

    This paper presents some data from the Brazilian economy (2009 and 2010) and their impact on energy efficiency programs. It is also shown the main results of the National Electricity Conservation Program (PROCEL) and PROCEL INFO, which aims to gather and make available information on the rational and efficient use of energy. At the end, we present information showing that MSMEs (Micro, Small and Medium Companies) should be the main focus of the technological innovation programs aimed to energy efficiency. (author)

  17. The challenges faced by the Constitutional Court of Lithuania during the global economic crisis

    Directory of Open Access Journals (Sweden)

    Birmontienė Toma

    2015-01-01

    Full Text Available The Constitutional Court of the Republic of Lithuania is forming a broad and distinctive doctrine on the possibility of limitation of social rights during an economic crisis. This doctrine is inter alia grounded upon the imperatives of a state under the rule of law, equality of rights, justice, proportionality, protection of legitimate expectations, social solidarity, the constitutional concept of the state budget and other constitutional imperatives. The Constitutional Court has also formulated certain general principles which must be followed when in a situation of an economic crisis the legislator may adopt decisions on reduction of social rights guarantees. This doctrine is also influenced by international law, inter alia the law of the European Convention on Human Rights. While considering the cases related to implementation of social rights, the Constitutional Court also takes account of the case-law of the constitutional courts of other states.

  18. The wealth, health and wellbeing of Ireland's older people before and during the economic crisis.

    Science.gov (United States)

    Barrett, A; O'Sullivan, V

    2014-07-03

    The economic crisis of 2008/9 was felt more acutely in Ireland relative to elsewhere and culminated in the international bailout in 2010. Given the economic collapse, Ireland provides an ideal case-study of the link between wealth collapses and movements in variables such as health and well-being. Using nationally-representative samples of older people collected before and during the crisis, we show that mean net assets fell by 45 percent between 2006/7 and 2012/13. In spite of this massive fall in wealth, measures of health and well-being remained broadly unchanged. However, expectations about future living standards became less optimistic. The results tend to support the findings of other recent studies that recessions do not have widespread negative effects on health and well-being.

  19. The impact of the global financial crisis on the structure of investment portfolios of insurance companies

    Directory of Open Access Journals (Sweden)

    Kočović Jelena

    2011-01-01

    Full Text Available This article deals with the impact of the global financial crisis on the scale and structure of investment portfolios of insurance companies, with respect to their difference compared to other types of financial institution, which derives from the specific nature of insurance activities. The analysis includes insurance companies’ exhibited and expected patterns of behavior as investors in the period before, during, and after the crisis, considering both the markets of economically developed countries and the domestic financial market of Serbia. The direction of insurers’ investments in the post-crisis period should be very carefully examined in terms of their future implications for the insurance companies’ long-term financial health, and defined in a broader context of managing all risks to which they are exposed, taking into account the interdependence of these risks. Pertinent recommendations in this regard have arisen from research of relevant past experience and current trends, and also from an analysis and comparison of views on this subject presented by a number of authors.

  20. IMPACT OF THE GLOBAL FINANCIAL CRISIS ON THE CREDIT RISK MANAGEMENT IN A BANK

    Directory of Open Access Journals (Sweden)

    Jerzy Piotr Gwizdała

    2016-06-01

    Full Text Available The main purpose of this article is to present the role of risk in the activity of a commercial bank with particular reference to the global financial crisis. The introductory part presents the origins of economic crises, especially the contemporary crisis from 2007-2010, which began in the United States subprime mortgage market. Dating back to the 1831, considerations allow to undetstand the causes of the crises. Then the impact of the global financial crisis on the scale of the crediting activities of banks in Poland was analyzed, presenting a credit portfolio structure, with a particular focus on the structure of loans to households and enterprises. In the second part of the article the process of credit risk management was discussed, paying attention to the crucial role of the bank's credit policy, and the conditions and prospects of commercial bank credit activity development were specified. It presents also the criteria for the proper credit management, indicating as the optimal solution the development of the so-called „credit textbook”.

  1. Entrepreneurship Snapshots 2010 : Measuring the Impact of the Financial Crisis on New Business Registration

    OpenAIRE

    World Bank

    2011-01-01

    New businesses are likely to have been even more severely affected by the crisis than mature businesses, even in non crisis times, new and young firms tend to be more constrained than older firms which often have established reputations and enjoy easier access to finance. Given the sudden scarcity of credit and the uncertain economic outlook, it is reasonable to assume that entrepreneurs w...

  2. 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.

  3. Optimizing job satisfaction through motivation in the face of Economic crisis among Nigeria's University staff

    OpenAIRE

    Babatunde B.O.

    2011-01-01

    This study examined job satisfaction through motivation in the face of economic crisis among universities staff in Nigeria with reference to the University of Ado Ekiti and Olabisi Onabanjo University Ogun State Nigeria. This study adopted the descriptive survey research design. A total of 100 respondents were selected for the study using stratified sampling technique. Two sets of questionnaire were used for data collection. chis - square model was used to test the hypothesized research quest...

  4. 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...

  5. Tourism in the European economic crisis: Mediatised worldmaking and new tourist imaginaries in Greece

    OpenAIRE

    Tzanelli, R; Korstanje, M

    2016-01-01

    The paper interrogates the rationale and origins of changing imaginaries of tourism in Greece in the context of the current economic crisis. We detect a radical change in the ‘picture’ of the country that circulates in global media conduits (YouTube, Facebook, official press websites and personal blogs). We enact a journey into past media representations of Greece as an idyllic peasant and working-class site, but proceed to highlight that such representations are being recycled today by Greek...

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

    OpenAIRE

    Lubor Lacina; Petr Toman

    2011-01-01

    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 ra...

  7. 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 ...

  8. FISCAL POLICY AND ECONOMIC DEVELOPMENT IN THE CURRENT FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    VALENTIN SAVA

    2012-05-01

    Full Text Available Fiscal policies in the current era are the sovereign right of states to collect and administer taxes on national territory. In this respect, the European Union, which is an association of independent states, did not created an European tax - although many politicians proposing it - and within the Union is found important differences between the tax systems of member states. Due to historical and national different traditions, the EU member states have heterogeneous tax systems and revenue sharing systems because of different conceptions of public policies relative to the role of state in social and economic respective community’s life. The financing of public spending is usually considered the main function of taxation. In the original tradition following Locke1, property protection is the main functions of the state. As a result, the tax must correspond to the services rendered, that is to say, to pay the State for the protection of the rights it provides. Here we are at the origin of the doctrine of the benefit that there should be equivalence between the utility derived by the citizens of public services they consume and the "price" they pay tax.

  9. 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.

  10. Treasury Financial Management company in the current economic crisis

    Directory of Open Access Journals (Sweden)

    FLOAREA GEORGESCU

    2015-03-01

    Full Text Available Abstract. Any management decision has a direct monetary impact on the structure uses and sources of cash. Cash Management aims to permanently maintain a balance between inflows and outflows of cash and cash to predict the impact of any operational decisions that could affect these flows. The success of any business requires good management of all these flows. The principle of this approach is relatively simple: using a minimum of ores to obtain maximum performance in a given period. Cash management is an extremely complex issue, and balancing receipts and payments flow is a constant struggle for survival of firms. In It work we will focus on how they are oriented in a going concern basis, cash inflows and financing needs of current operations. Managers should understand and know the specific movements of cash within the business system, driven daily decisions on operating, investing or financing, and a variety of external circumstances which affect the company. Such decisions and events can affect the company's ability to pay its obligations to obtain credit from suppliers, banks or credit institutions and to maintain an operational level in line with the company's products and services through investments.

  11. CHALLENGES OF THE RECENT FINANCIAL CRISIS UPON THE EUROPEAN UNION ECONOMIC GOVERNANCE

    Directory of Open Access Journals (Sweden)

    MIHUȚ IOANA-SORINA

    2015-07-01

    Full Text Available The process of economic governance constitute a property or a characteristic for a multitude of areas including markets, communities, societies, state, being considered a triggering factor at regional, national or supranational level. The European Union economic governance incorporates some key features, namely in this case the decisions are made as a result of an interconnected action between a complex network that implies different levels of governing. The purpose of this article is to investigate the obstacles that the process of EU economic governance had to overcome during the recent financial crisis and the measures that the responsible authorities adopted in order to improve the general efficiency of this system. The main conclusion of this article is that the recent financial crisis highlight the limits that the European Union economic governance had in implementing economic policies that assure a smooth path towards sustainable growth and convergence in the context of a continuous process of integration between the member states. The new model of economic governance concentrates upon a mechanism of monitoring and early reporting of any macroeconomic imbalances as well as an intensified monitoring activity within the budgetary field.

  12. My Goodness, My Heritage! Constructing Good Heritage in the Irish Economic Crisis

    Directory of Open Access Journals (Sweden)

    Maja Lagerqvist

    2015-06-01

    Full Text Available In 2008, the Republic of Ireland entered a severe financial crisis partly as a part of the global economic crisis. Since then, it has seen large raises in income taxes and cuts in state spending on health, welfare, education and on heritage, which has suffered relatively large cuts. This implies a need for rethinking choices and prioritisations to cope with the changing circumstances. Across Europe, the effects of the crisis on heritage, or the whole cultural sector, have yet mostly been highlighted in general or supposed terms rather than empirically analysed. But what actually happens to how heritage is conceptualised in times of crisis? Inspired by Critical Discourse Analysis, this paper explores representation of and argumentation for heritage in Irish state heritage policies pre and post the recession 2008. Much concerns regarding heritage management are discursively shaped. Policies, stating the authorised viewpoint, are thus key in the construction of heritage and its values in society. Recently, research has highlighted a shift towards more instrumentality in cultural policy due to wider societal changes. A crisis could influence such development. The analysis departs from an often-stated notion of heritage as a part of the Irish national recovery, but what does that imply? Focus is therefore put on how different representations of heritage and its values are present, argued for and compete in a situation with increasing competition regarding relevance and support. The paper shows how heritage matters are refocused, streamlined and packaged as productive, good-for-all, unproblematic and decomplexified in order to be perceived and valued as part of the national recovery. This includes privileging certain instrumental values, foremost economic, by means of specificity, space and quantification, while heritage's contribution to social life, education or health, although often mentioned, are downplayed by being expressed in much more vague

  13. 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.

  14. The impact of the crisis on the energy demand and energy intensity in Central and Eastern European countries

    Directory of Open Access Journals (Sweden)

    Attila HUGYECZ

    2011-12-01

    Full Text Available The purpose of our paper is to analyze the impact of the recent crisis on the oil and electricity demand and the energy intensity of different Central and Eastern European countries, namely the Czech Republic, Hungary, Poland and Slovakia. Furthermore, we would like to reveal whether there is a lag in the adjustment of energy consumption. In analyzing energy intensity, we use motor gasoline, diesel oil and electricity consumption data and ignore coal and natural gas data. By so doing, we avoid failures arising from changing coal/gas consumption due to changing weather conditions. Our results show that the crisis did impact energy consumption and reveal that the improvement of energy intensity halted in 2009, implying that the economic players did not immediately adjust their energy consumption according to their economic activity. The gasoline and diesel intensity, however, deteriorated (increased only in the Czech Republic and in Hungary. In Slovakia and Poland there were no significant changes.

  15. [Economic Crisis and Portuguese National Health Service Physicians: Findings from a Descriptive Study of Their Perceptions and Reactions from Health Care Units in the Greater Lisbon Area].

    Science.gov (United States)

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

    2017-04-28

    In Europe, scant scientific evidence exists on the impact of economic crisis on physicians. This study aims at understanding the adjustments made by public sector physicians to the changing conditions, and their perceptions on the market for medical services in the Lisbon metropolitan area. A random sample of 484 physicians from São José Hospital and health center groups in Cascais and Amadora, to explore their perceptions of the economic crisis, and the changes brought to their workload. This paper provides a descriptive statistical analysis of physicians' responses. In connection to the crisis, our surveyed physicians perceived an increase in demand but a decrease of supply of public health services, as well as an increase in the supply of health services by the private sector. Damaging government policies for the public sector, and the rise of private services and insurance providers were identified as game changers for the sector. Physicians reported a decrease in public remuneration (- 30.5%) and a small increase of public sector hours. A general reduction in living standard was identified as the main adaptation strategy to the crisis. Passion for the profession, its independence and flexibility, were the most frequently mentioned compensating factors. A percentage of 15% of physicians declared considering migration as a possibility for the near future. The crisis has brought non-negligible changes to physicians' working conditions and to the wider market for medical services in Portugal. The physicians' intrinsic motivation for the professions helped counterbalance salary cuts and deteriorating working conditions.

  16. 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.

  17. 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

  18. 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.

  19. Economic Growth and Poverty Reduction in Indonesia Before and After the Asian Financial Crisis

    OpenAIRE

    Asep Suryahadi; Asep Suryahadi; Gracia Hadiwidjaja; Gracia Hadiwidjaja; Sudarno Sumarto; Sudarno Sumarto

    2012-01-01

    This paper assesses the relationship between economic growth and poverty reduction in Indonesia before and after the asian financial crisis (afc). Indonesia has a significantly slower poverty reduction post-afc compared to the pre-afc era. the trend in the growth elasticity of poverty indicates that the power of each% of economic growth to reduce poverty did not change greatly between the pre and post-afc time periods. during both these periods, the growth of services sector is the largest co...

  20. Crisis cambiarias 1990 - 2008 : factores externos que hacen vulnerable a la economía colombiana

    OpenAIRE

    Quintana Herrera, María Victoria

    2009-01-01

    Dentro de un entorno económico caracterizado por la globalización y una creciente integración de los mercados internacionales, fenómenos que se hacen imprescindibles para la comprensión del mundo contemporáneo, principalmente en el campo de la economía, las vulnerabilidades existentes en las economías emergentes como la Colombiana, así como su creciente dependencia del capital exterior, aumentan los mecanismos de inestabilidad cambiaria y por tanto aumentan la probabilidad de sufrir una crisi...