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Economic Crisis - a Result of Globalization?

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  • Gradea Cristina Rodica

    () (“Gheorghe Cristea” Romanian University of Sciences and Arts Faculty of Economic, Legal and Administrative Studies, Bucharest)

Abstract

As 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.

Suggested Citation

  • Gradea Cristina Rodica, 2011. "Economic Crisis - a Result of Globalization?," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 527-530, May.
  • Handle: RePEc:ovi:oviste:v:xi:y:2011:i:9:p:527-530
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    More about this item

    Keywords

    globalization; crisis; credit; trade;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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