Economic Crisis - a Result of Globalization?
AbstractAs we analyze the current economic crisis, which we can consider first ever global crisis that started with banking problems, we are asking if this crisis was strictly a financial one or a crisis due to the phenomenon called globalization. What caused the global financial crisis was the lack of information. Best parameters to operate in markets need information, but no market player did not know who and what is holding or how much is worthing. Thus, we believe that the main point of the world economy before the recession and the weak factor, directly responsible for the current economic crisis, was trade. Moreover, since 2008, officials talked about establishing a new framework for world trade, but this desire met difficulties in order to be capitalized as political segment and as a starting point. The conclusion we can draw is that the current economic crisis requires reconsideration of globalization.
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Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.
Volume (Year): XI (2011)
Issue (Month): 2 (May)
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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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globalization; crisis; credit; trade;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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