ECONOMIC MASS AND WORLD ECONOMIC CRISES AND ITS EFFECT ON NATIONAL ECONOMY IN DEVELOPING COUNTRIES

Emadeldin Eid () and Mohamed Saad Khawasek
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Mohamed Saad Khawasek: Al Zarka Academy for Administrative Science & Information System, Egypt

Internal Auditing and Risk Management, 2013, vol. 30, issue 1, 279-290

Abstract: Since the international economy is facing a strong strike considered one of the worst economic crises witnessed worldwide in several decades having several severe negative effects on developing countries, affecting its revenues and growth rates and the developing manifestations which have been achieved in the latest years, where recently world is in great need to have a world economic cooperation. Where till summer 2008 the spreading point of view was concentrated at "separating world economics from each other and securing it against any financial crises and economic collapses spreading in the developed world, while in the recent time it seems that this way of thinking became just like hope, where developing countries same as developed countries have faced three risks represented in food, energy and financial crisis where several developing countries have entered the risk stage in order to overcome this crisis where growing economies are affected by this kind of collapse through several figures where countries are suffering high balance of payment and a financial deficit are more exposed to the crisis, also several countries are witnessing a sharp decrease in exports affecting investments in the growing markets where investment portfolios has been decreased, as the investors have withdrawn their capitals preferring to keep them in some near places away from danger within this risky circumstances also the direct foreign investment has been decreased despite that earlier cases proves that economy was enabled to refresh its activity and overcome its crises. On the highlight of the previous statements the research include the development of World Trade Organization agreement and its role and principles and the privileges allowed to developing countries and the less developed countries then showing the expected increase in the world production and its distribution among different states, finally the study include an analysis for developing the movement of exports in products and services in the chosen developing states among the world and the developed countries where increasing exports is the main element affecting economic development and raising the standard of living. This study aims at mentioning the importance of economic masses in developing countries facing the economic globalization, thus increasing the economic ability and developing rates in developing countries allowing it to enter world market through merges and free trade and international exchange where trade is considered the production train trying to achieve economic growth in developing countries.

Date: 2013
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