Fotov, Risto and Miteva, Emilija (2010) The Causes and Consequences of Global Crisis. The global crisis and economic development: Proceedings of the Jubilee International Conference..
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Abstract
Process of greater interdependence which today is called globalization is multidimensional and complex phenomenon, which summarizes the intense political, social and economic interactions at both national and above the national level. Unstoppable process of globalization of world economy, accompanied by liberalization and deregulation in recent decades largely contributed to the outbreak and spreading global financial crisis, whose shape is manifested in the financial sphere striking them directly to financial institutions, soon to be transferred in the real sector. The aim of the research of this paper is consideration of the implications of the current economic crisis, as the most difficult economic crisis after that of years1929-1933, under the world economy and the role of the process of economic globalization into dinamization of the crisis. The results of the survey suggest on the fact that long-term effects of the crisis in the financial sector inevitably imply increased budget deficits, cumulating public debt and increasing pressure on interest rates. Long term effects of the crisis on the real sector are still uncertain. Despite the recovery of the U.S. economy, increasing of global output is likely to be weak in 2010 (the point of experience episodes of recession, accompanied by financial crises, by which the collapse of production usually takes two years), while the new trade protectionism which represents reality in the globalized world raises obvious contraction of the international trade.
| Item Type: | Article |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Emilija Miteva |
| Date Deposited: | 30 Oct 2012 09:44 |
| Last Modified: | 15 Nov 2012 09:57 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/68 |
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