TITLE

GLOBAL RECESSION: IMPACT, CHALLENGES AND OPPORTUNITIES

AUTHOR(S)
FATMA, SHAIKH FARHAT
PUB. DATE
February 2013
SOURCE
International Journal of Research in Commerce, IT & Management;Feb2013, Vol. 3 Issue 2, p128
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
A recession is a decline in a country's gross domestic product (GDP) growth for two or more consecutive quarters of a year. A recession is also preceded by several quarters of slowing down. An economy which grows over a period of time tends to slow down the growth as a part of the normal economic cycle. A recession normally takes place when consumers lose confidence in the growth. of the economy and spend less. This leads to a decreased demand for goods and services, which in turn leads to a decrease in production, lay-offs and a sharp rise in unemployment. Investors spend less as they fear stocks values will fall and thus stock markets fall on negative sentiment. The financial crisis that began in the US in the year 2007 became a full-scale crisis in the year 2008 and 2009 which, in turn, affected each and every economy in some way or the other including the ones which were not directly related to the crisis. There has been considerable slowdown in most developed countries. Investment banks have collapsed, rescue packages were drawn up involving more than a trillion US dollars, and interest rates have been cut around the world in what looks like a coordinated response. Leading indicators of global economic activity, such as shipping rates, had declined at alarming rates. The objectives of the present paper are: (i)to learn about the causes of global recession and financial crisis (ii) to understand the nature & implications of global recession on the business (iii) to learn more about the impact of global recession on the developed countries as well as emerging countries.
ACCESSION #
87683895

 

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