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The Relationship between the Current World Crisis and Global Imbalances

Author

Listed:
  • 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.

Suggested Citation

  • Rozalia NISTOR & Costel NISTOR & Mihaela-Carmen MUNTEAN, 2010. "The Relationship between the Current World Crisis and Global Imbalances," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 155-166.
  • Handle: RePEc:ddj:fseeai:y:2010:i:2:p:155-166
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    File URL: http://www.ann.ugal.ro/eco/Doc2010_2/Nistor_Nistor_Muntean.pdf
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    References listed on IDEAS

    as
    1. James Crotty, 2009. "Structural causes of the global financial crisis: a critical assessment of the 'new financial architecture'," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 563-580, July.
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    More about this item

    Keywords

    economic crisis; recession; global economy; financial market;

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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