Global Economic Recession as a Major Risk Beyond Business Insights and Economies

Benabed Anis () and Bulgaru Andrei ()
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Benabed Anis: Bucharest University of Economic Studies, Bucharest, Romania; Scientific Researcher, Doctoral School of Economics and International Business
Bulgaru Andrei: Bucharest University of Economic Studies, Bucharest, Romania; Doctoral School of Economics and International Business

Proceedings of the International Conference on Business Excellence, 2023, vol. 17, issue 1, 221-225

Abstract: Global economic growth prospects are facing ups and downs, the rise of interest rates to contain inflation, especially after the lingering effects of the pandemic and supply chain disruptions, recession and geopolitical tensions are obstacles for the world economy. The research question is what are the reasons for the recent global economic recession and what challenges could have on business and markets? As a methodology of research, we focused on a literature review of the existing literature and data analysis. Various economic recessions could happen from time to time and several have happened throughout history affecting the financial levels of businesses and profits. The economy bases as well on the degree of production, services, goods, consumer confidence and market trends. So, the stability of companies and countries depend a lot on these things. The results show that advanced economies raise interest rates to combat inflation, financial conditions are tightening, especially for emerging market economies. In conclusion, with cautious policy action, new strategies of negotiations and joint multilateral efforts, the world could move towards stronger and more inclusive growth. Strengthening global cooperation remains the best way to improve economic prospects. Fostering emotional intelligence in business is important. Mainly it is better to avoid? Decrease or deal with inflation rates first then with the recession since inflation is one of the main indicators and drivers to and in a recession.

Keywords: Global; economic recession; economies; business; market; oil market; inflation (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:17:y:2023:i:1:p:221-225:n:13

DOI: 10.2478/picbe-2023-0024

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