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The Relationship between the Current World Crisis and Global Imbalances

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  • Rozalia NISTOR

    ()
    (Dunarea de Jos Univesity of Galati, Romania)

  • Costel NISTOR

    ()
    (Dunarea de Jos Univesity of Galati, Romania)

  • Mihaela-Carmen MUNTEAN

    ()
    (Dunarea de Jos Univesity of Galati, Romania)

Abstract

The world economy currently experiencing the largest decline in the postwar period, dominated by a financial crisis that swept in a record time around the world. Many developed economies have entered into recession, the rest of slowing economies, and significant growth. International trade and global monetary and financial flows show a significant contraction, while unemployment has increased considerably. Nature of the current crisis events can be reported in a precedent - in particular, the current situation of financial crisis combines the most advanced economies in the world with a time of global economic contraction. But financial crises or periods of global economic contraction are not a novelty. Therefore, the past can be a useful way of understanding this.

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Bibliographic Info

Article provided by "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration in its journal Economics and Applied Informatics.

Volume (Year): (2010)
Issue (Month): 2 ()
Pages: 155-166

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Handle: RePEc:ddj:fseeai:y:2010:i:2:p:155-166

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Keywords: economic crisis; recession; global economy; financial market;

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  1. James Crotty, 2008. "Structural Causes of the Global Financial Crisis: A Critical Assessment of the ‘New Financial Architecture’," Working Papers wp180, Political Economy Research Institute, University of Massachusetts at Amherst.
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