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Global Economic Crisis and Challenges


  • Suman Thirumalai

    () (MBA, Executive, ST Kinetics, Singapore)


A global economic and financial crisis affected the world by the increasing inflation and unemployment rate. It affects billions of people living in developing countries, these crises have strengthened the overall state of crisis comprised by propagate poverty and extreme poverty. The crisis had its origin in the richest countries, but it creates greater impact on emerging developing countries. The threatening crisis creates lot of social impact and visible effects such as slowing global economic growth, contracting world trade, job losses. It's important to analyze the global economic and financial crisis to find out the root cause of the emerging economic and financial crisis and provide possible solutions based on past available historical economic and financial crisis data. This economic and financial crisis comprises of key elements such as macroeconomic policies, financial-sector supervision and regulation, financial engineering, and the global activities of large private financial institutions. A key lesson from the global financial and economic crisis is that we need to rethink the policies for economic growth which have existed over the past few decades.

Suggested Citation

  • Suman Thirumalai, 2015. "Global Economic Crisis and Challenges," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 10(2), pages 65-72, December.
  • Handle: RePEc:rse:wpaper:v:10:y:2015:i:2:p:65-72

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    References listed on IDEAS

    1. Gabriel Fagan & Julian Morgan, 2005. "An overview of the structural econometric models of euro-area central banks," Chapters,in: Econometric Models of the Euro-area Central Banks, chapter 1 Edward Elgar Publishing.
    2. Gabriel Fagan & Julian Morgan (ed.), 2005. "Econometric Models of the Euro-area Central Banks," Books, Edward Elgar Publishing, number 3918.
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    More about this item


    economic and financial crisis; financial institutions; government regulations;

    JEL classification:

    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • F6 - International Economics - - Economic Impacts of Globalization
    • G2 - Financial Economics - - Financial Institutions and Services


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