477,213 research outputs found

    What’s the Problem, Mr. President?: Bush’s Shifting Definitions of the 2008 Financial Crisis

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    A case study is presented which examines the political rhetoric of U.S. President George W. Bush concerning the Global Financial Crisis of 2008-2009. Topics include Bush\u27s definition of the economic crisis, his reluctance to recognize the existence of the financial crisis and the relationship between his rhetoric on the financial crisis and his legacy

    Trilemma and Financial Stability Configurations in Asia

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    This paper takes stock of recent research dealing with the degree to which the trilemma choices of Asian countries facilitated a smoother adjustment during the global crisis of 2008–2009, and the way the region has been coping with the adjustment to the postcrisis challenges. We point out that emerging Asia has converged to a middle ground of the trilemma configuration: limited financial integration, a degree of monetary independence, and controlled exchange rate buffered by sizable international reserves.trilemma choices; financial stability; global crisis 2008–2009

    The Global Financial Crisis and Equity Markets in Middle East Oil Exporting Countries

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    This paper employs extreme downside risk measures to estimate the impact of the global financial crisis in 2008/2009 on equity markets in major oil producing Middle East countries. The results in the paper indicate the spillover effect of the global crisis varied from a country to another, but most hardly affected market among the group of six markets was Dubai financial market in which portfolio loss reached about 42 per cent. This indicates that Dubai debt crisis, which emerged on surface in 2009, exacerbated the impact of the global financial crisis and prolonged the recovery process in these markets.Value at risk; Fat-tails distribution; Expected Shortfall; Extreme losses.

    The Macroeconomic Outlook and the Impact of the Global Crisis in the Euro Area

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    This paper provides general analysis and evolution of macroeconomic and financial indicators in the euro area, during the recent crisis 2008-2009. The financial market turmoil that began in 2007 led to a severe global economic downturn. The causes of the crisis, the effects on global financial markets, and the spillover to the economy are permanently examined by the analysts, but the final conclusions are not clear yet. The conclusion of this paper is that the global activity is recovering at varying speeds in some countries, tepidly in many of the advanced economies but solidly in most emerging and developing economies.Global economics crisis, Global crisis debate

    Global Foreign Exchange Turnover

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    The most recent six-monthly data on global foreign exchange turnover show a rebound in activity between April and October 2009 across all markets and major currency pairs. The broad-based increase in turnover is in line with the improvement in global economic and financial conditions since early 2009. Despite the rebound, turnover remains below the peak in early 2008.foreign exchange; foreign exchange turnover; foreign exchange outstandings; global financial crisis; Australian dollar

    Impact of the Global Crisis on the Financial Linkages between the Stock Market and the Foreign Exchange Market from Romania

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    This paper explores the financial linkages between the Romanian stock market and the exchange market in the context of the global crisis. We investigate such relations for two periods of time: one from January 2006 to February 2008, when the Romanian financial markets were quite tranquil and the other from March 2008 to September 2009, while the global crisis effects were considerable for Romania. For the first period of time we could not prove significant relations between the foreign exchange market and the stock market. Instead, for the second period of time we found a unidirectional causality from the exchange rates to the stock prices.Romanian financial markets, Vector Autoregression, GARCH, Granger causality, financial linkages

    The financial crisis, trade finance and the collapse of world trade

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    The financial crisis that began in August 2007 and intensified in the fall of 2008 pushed the global economy into its most severe recession since World War II. As 2009 drew to a close, there were signs that economic activity in many countries was rebounding, but the fragile state of many countries' financial systems and concerns about how governments and central banks will manage the exit strategies from the extraordinary measures taken to mitigate the worst effects of the crisis leave many open questions about the ultimate course of the recovery.Globalization ; Global financial crisis ; Trade credit ; International trade

    Does Syariah-Compliant stocks overreact?

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    This is a preliminary study on stock overreaction behavior of syariah compliant stock in Bursa Malaysia over the period between January 1988 and December 2009. Results show that syariah compliant stock in Bursa Malaysia, like their conventional counterparts overreact. The overreactions are more pronounced during the sub-period prior to 1997 Asian Financial Crisis and Global 2008 Crisis. After the crisis the overreaction behavior seems to diminish

    Towards Detection of Early Warning Signals on Financial Crises

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    The financial crises of 2001-2002 and 2008-2009 had a significant impact on the world economy. In this paper, we investigate whether early warning signals can be seen in financial time series preceding the crises. In our analysis, we use data on the Dow Jones Industrial Average and Federal Reserve Interest Rate. We construct a random process describing the occurrence of positive and negative signals in a time series preceding the financial crisis of 2001-2002. We use the constructed random process and a time series for the period 2001-2008 to assess the probability of a crisis to occur in 2008-2009. We show that the probability exhibits a steady growth and conclude that the proposed method demonstrates an ability to register early warning signals on the global financial crisis of 2008-2009

    Corporate Governance and Bank Performance: Global Financial Crisis 2008

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    This research examine the role of Corporate Governance on bank performance; pre and during global financial crisis 2008. Using 2006 to 2009 data of 27 banks listed in Indonesia Stock Exchange is as research sample. Board, Family and Foreign Ownership as an internal Corporate Governance mechanism and Audit Quality is a proxy for external mechanism. Moderated Regression Analysis is applied. The result shows that there is no role of Corporate Governance in pre-global financial crisis. In addition, this study documented that the role of Corporate Governance practices is poor during global financial crisis 2008, especially 2009.Research limitations: Internal Corporate Governance mechanism does not use board or audit committee characteristics, such as board independent and audit committee financial expertise. Bank should strengthen Corporate Governance system while financial crisis come and uniqueness of Indonesia Corporate Governance system enrich Corporate Governance literature. This research is a significant addition to Corporate Governance literature because of using data from unique business environment and Corporate Governance system as well as in global financial crisis
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