Global Economy under the Current Economic Crisis Effects

Voicu Ioana-Iulica () and Talmaciu Iuliana ()
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Voicu Ioana-Iulica: „Constantin Brâncoveanu” University of Pitesti
Talmaciu Iuliana: „Constantin Brâncoveanu” University of Pitesti

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 2, 836-840

Abstract: 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 processes from the global economy. Officially, the crisis release took place in August 2007, when the American central banks interfered providing liquidities to the banking system. But, during the following years, the crisis exceeded the borders of the sectors initially affected, riveting the entire world's attention. Instability has surged from sector to sector, first from housing into banking and other financial markets, and then on into all parts of the real economy. The crisis surged across the public – private boundary. Practically, the hit received by the financial situations of the private companies imposed heavy new demands on the public sector's finances.

Keywords: economic crisis; globalisation; gross domestic product; capital flow; recession (search for similar items in EconPapers)
JEL-codes: F01 G01 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:10:y:2010:i:2:p:836-840

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