IDEAS home Printed from https://ideas.repec.org/a/vrs/mjsosc/v8y2017i1p184-191n15.html
   My bibliography  Save this article

The Global Crisis and Its Legal Impact on the Growth of Albanian Economy

Author

Listed:
  • Bacaj Ervin
  • Çelo Evis
  • Dumi Alba Robert

    (“Ismail Qemali” Vlora University, Vlora, Albania)

Abstract

We started as a crisis of high commodity prices, she quickly clarified the extent of the banking crisis and rapidly accelerated the financial crisis which culminated with the economic crisis, social and global, perhaps it was the heaviest one after the Second World - War. The consequences of this crisis was widely reflected in the deterioration of macroeconomic indicators of the budget, it appeared a significant decline in economic growth, a drop in revenues, an increase in unemployment and the fast increase of budget expenditures. The budget deficit and public debt grew at high rates, the cost and sources of financing of the economy became the most difficult and the most expensive. To stop the deterioration, the governments of many countries, regardless of their political spectrum supported the growth of aggregate demand, this process in many countries aggravated budget deficits. The primary task to overcome the crisis was a strategy that would ensure the sustainability of public finances in the countries affected by the crisis. The main difficulty faced was the global coordination such a global challenge. Researches can improve the profits of a company because of the potential capabilities of diversification with innovation performance or some have argued that the returns are increasing but this diversification has a very big risk. International expansion is very difficult to manage because there are a risk. Chief among them are economic and political risks because due to these risks by diversification of large firms are accustomed to the conditions of a market in competitive situations. The risk policy has to do with a government concentration creating much problem. The economic risk concerns exchange rates and market expansion line.

Suggested Citation

  • Bacaj Ervin & Çelo Evis & Dumi Alba Robert, 2017. "The Global Crisis and Its Legal Impact on the Growth of Albanian Economy," Mediterranean Journal of Social Sciences, Sciendo, vol. 8(1), pages 184-191, January.
  • Handle: RePEc:vrs:mjsosc:v:8:y:2017:i:1:p:184-191:n:15
    DOI: 10.5901/mjss.2017.v8n1p184
    as

    Download full text from publisher

    File URL: https://doi.org/10.5901/mjss.2017.v8n1p184
    Download Restriction: no

    File URL: https://libkey.io/10.5901/mjss.2017.v8n1p184?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:mjsosc:v:8:y:2017:i:1:p:184-191:n:15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.