The American Mortgage Crisis Implications on the international economics evolutions

Shock waves that produce large cracks deepen existing political, economic and social, and sometimes a new order replaces the old. In 2010, states across the world over blast, which invariably will lead to changing the current world order. Last twenty years have seen major changes in international economic context, the Soviet Union collapsed and centralized economies in Eastern Europe, reforms in China and India, export-based growth strategies in East Asia, all leading to the creation of a world economy market and also bringing 4 to 5 billion people.mortgage crisis, financial crisis, stock market, bank loans, international trade

The Meanings of Deindustrialization

The point of departure for any discussion of deindustrialization must be respect for the despair and betrayal felt by workers as their mines, factories, and mills were padlocked, abandoned, turned into artsy shopping spaces, or even dynamited. While economists and business leaders often speak in neutral, even hopeful, terms such as restructuring, downsizing, or creative destruction, metaphors of defeat and subjugation are more appropriate for the workers who banked on good-paying industrial jobs for the livelihoods of their families and their communities

Economic activity expanding more rapidly

Economic conditions

Predictability of stock returns using financial statement information: Evidence on semi-strong efficiency of emerging Greek stock market

This article examines the predictability of stock returns in the Athens Stock Exchange (ASE) during 1993 to 2006 by using accounting information. Using panel data analysis, this article concludes that the selected set of financial ratios contains significant information for predicting the cross-section of stock returns. Results indicate that portfolios selected on the basis of financial ratios produce higher than average returns, suggesting that the emerging Greek market does not fully incorporate accounting information into stock prices and hence it is not semi-strong efficient

Review of concepts for the evaluation of sustainable agriculture in Germany and comparison of measurement schemes for farm sustainability

Within the EU research project SVAPPAS, a method of sustainability measurement based on principles of financial markets, will be tested wrt sustainability issues in agriculture, and further developed. This analysis is oriented to farm level approach based on FADN data. The study goes in two directions; first, measurement concepts available in German are reviewed, and second, the different methods are applied to a sample of dairy farms selected from the national FADN. The results of DEA, Sustainable Value and economic indicators lead to similar conclusions in most assessments. In contrast to the high correlation between Sustainable Value and DEA, a rather low correlation with the ecological indicators can be observed. Moreover, results of SV and economic indicators are generally contrary to ecological indicators. In each case it seems to be reasonable to use more than one approach for the assessment, to get a more detailed and comprehensive picture of the individual dimensions and issues of sustainability.Im Rahmen des EU-Forschungsprojekts SVAPPAS wird die Anwendung einer Methode für Nachhaltigkeitsbewertung, basierend auf Prinzipien von Finanzmärkten (Sustainable Value (SV)), im Bereich der Landwirtschaft getestet und weiter entwickelt. Für die vorliegende Analyse werden Daten aus dem deutschen Testbetriebsnetz verwendet. Sie zielt darauf ab, verschiedene in Deutschland verfügbare und im Rahmen des Projektes weiter entwickelte Bewertungskonzepte am Beispiel von Milchvieh haltenden Betrieben anzuwenden und zu testen. Die Ergebnisse der Data Envelopment Analyse (DEA) und es SV-Ansatzes führen zu ähnlichen Bewertungen. Im Gegensatz zur hohen Korrelation zwischen SV und DEA kann eine ziemlich niedrige Korrelation mit den ökologischen Indikatoren beobachtet werden; zudem sind Ergebnisse von SV und ökologischen Indikatoren entgegengesetzt. Deshalb scheint es notwendig, mehrere Bewertungskonzepte zu verwenden, um ein umfassenderes Bild der einzelnen Dimensionen der Nachhaltigkeit zu bekommen

Firm size, exchange rates, and interest rates

Corporations ; Foreign exchange - Law and legislation ; Interest rates ; Demand for money

Determinants of Success In Reform Strategies: A Case Study of Hungary and Poland

The capacity of a post-communist country to minimize social pain is essential to the very existence of the new government. In studying the transitional economies of Eastern Europe, it is important to attempt to determine what factors have lead to a level of success in not only moving towards a market economy, but also in minimizing the social pain of that transition. Hungary and Poland have been cited as two of the most successful nations in moving towards economic success (Slay, 1994). Interestingly, these two countries selected different reform strategies, the gradualist approach and the shock therapy approach respectively. With these different strategies, they have met with similar results, results that are some of the most optimistic in all of Eastern Europe. This study will analyze how two very different reform strategies can produce similar outcomes. The paper will attempt to determine the other factors that have been important to the success of these two case studies

Child mortality in rural Malawi: HIV closes the survival gap between the socio-economic strata

As HIV-related deaths increase in a population the usual association between low socioeconomic status and child mortality may change, particularly as death rates from other causes decline.METHODS/PRINCIPAL FINDINGS: As part of a demographic surveillance system in northern Malawi in 2002-6, covering a population of 32,000, information was collected on socio-economic status of the households. Deaths were classified as HIV/AIDS-related or not by verbal autopsy. Poisson regression models were used to assess the association of socio-economic indicators with all-cause mortality, AIDS-mortality and non-AIDS mortality among children. There were 195 deaths in infants, 109 in children aged 1-4 years, and 38 in children aged 5-15. All-cause child mortality in infants and 1-4 year olds was similar in households with higher and lower socio-economic status. In infants 13% of deaths were attributed to AIDS, and there were no clear trends with socio-economic status for AIDS or non-AIDS causes. For 1-4 year olds 27% of deaths were attributed to AIDS. AIDS mortality was higher among those with better built houses, and lowest in those with income from farming and fishing, whereas non-AIDS mortality was higher in those with worse built houses, lowest in those with income from employment, and decreased with increasing household assets.CONCLUSIONS/SIGNIFICANCE: In this population, since HIV infection among adults was initially more common among the less poor, childhood mortality patterns have changed. The usual gap in survival between the poor and the less poor has been lost, but because the less poor have been disproportionately affected by HIV, rather than because of relative improvement in the survival of the poorest

Costs and Benefits of a Greener Alternative for the Development of Vietnam's power sector

International audienceIn this study, BAU (a scenario based on current trends) and ALT (a greener alternative with more renewables, higher energy efficiency) are developed. The external costs of CO 2 , NOx, SO 2 and PM 10 in the Vietnamese power sector are estimated at 20, 1328, 2047 and 1460 US$/ton, respectively. The authors find that the electricity price and the domestic trade balance in ALT are less sensitive to fluctuations in the international price of coal than in BAU. The total costs accumulated between period 2010-2040 would be lower in ALT: 632 billion US$ compared with 974 billion US$. This difference arises from several factors: lower investment in new capacity (226 vs 306 billion US$); lower local pollution costs (73 vs 137 billion US$); and lower expenditures on imported fuels (57 vs 115 billion US$). The outcomes of ALT are in accord with the targets in the most recent Green Growth Strategy of Vietnam