Global Economic Crisis and Government Intervention
The new economic context which brings into discussion the state’s role in the economy is theresult of several factors, all contributing to the emergence and spread of the crisis. What doeshistory have to say about the political and economic after-effects of financial crises? There areclear similarit...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Ovidius University Press
2016-01-01
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| Series: | Ovidius University Annals: Economic Sciences Series |
| Subjects: | |
| Online Access: | http://stec.univ-ovidius.ro/html/anale/ENG/2016/2016-II-full/s1/4.pdf |
| _version_ | 1818128207818260480 |
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| author | Claudia I. Dobre Costin I. Răsăuţeanu |
| author_facet | Claudia I. Dobre Costin I. Răsăuţeanu |
| author_sort | Claudia I. Dobre |
| collection | DOAJ |
| description | The new economic context which brings into discussion the state’s role in the economy is theresult of several factors, all contributing to the emergence and spread of the crisis. What doeshistory have to say about the political and economic after-effects of financial crises? There areclear similarities between the 1929-1935 and 2007-2009 crises in terms of initial conditions andgeographical origin. In each one of the cases, the financial pain at the root of the crisis wasfollowed by a deep recession in the real economy, but the most devastating impact of the globalcrisis was the human suffering. So, the society changed its vision of business legitimacy, calling forstructural changes in the system, including increasing government influence in economy. In thissense, structural policies are the best option for long-term recovery after the event of a crisis. |
| first_indexed | 2024-12-11T07:29:35Z |
| format | Article |
| id | doaj.art-fb2b93d2b036403082deb022eb9bdd6b |
| institution | Directory Open Access Journal |
| issn | 2393-3127 2393-3127 |
| language | English |
| last_indexed | 2024-12-11T07:29:35Z |
| publishDate | 2016-01-01 |
| publisher | Ovidius University Press |
| record_format | Article |
| series | Ovidius University Annals: Economic Sciences Series |
| spelling | doaj.art-fb2b93d2b036403082deb022eb9bdd6b2022-12-22T01:15:52ZengOvidius University PressOvidius University Annals: Economic Sciences Series2393-31272393-31272016-01-01XVI21419Global Economic Crisis and Government InterventionClaudia I. Dobre0Costin I. Răsăuţeanu1Ovidius University of ConstanţaOvidius University of ConstanţaThe new economic context which brings into discussion the state’s role in the economy is theresult of several factors, all contributing to the emergence and spread of the crisis. What doeshistory have to say about the political and economic after-effects of financial crises? There areclear similarities between the 1929-1935 and 2007-2009 crises in terms of initial conditions andgeographical origin. In each one of the cases, the financial pain at the root of the crisis wasfollowed by a deep recession in the real economy, but the most devastating impact of the globalcrisis was the human suffering. So, the society changed its vision of business legitimacy, calling forstructural changes in the system, including increasing government influence in economy. In thissense, structural policies are the best option for long-term recovery after the event of a crisis.http://stec.univ-ovidius.ro/html/anale/ENG/2016/2016-II-full/s1/4.pdfcrisisinterventionismstructural policy |
| spellingShingle | Claudia I. Dobre Costin I. Răsăuţeanu Global Economic Crisis and Government Intervention Ovidius University Annals: Economic Sciences Series crisis interventionism structural policy |
| title | Global Economic Crisis and Government Intervention |
| title_full | Global Economic Crisis and Government Intervention |
| title_fullStr | Global Economic Crisis and Government Intervention |
| title_full_unstemmed | Global Economic Crisis and Government Intervention |
| title_short | Global Economic Crisis and Government Intervention |
| title_sort | global economic crisis and government intervention |
| topic | crisis interventionism structural policy |
| url | http://stec.univ-ovidius.ro/html/anale/ENG/2016/2016-II-full/s1/4.pdf |
| work_keys_str_mv | AT claudiaidobre globaleconomiccrisisandgovernmentintervention AT costinirasauteanu globaleconomiccrisisandgovernmentintervention |