article global economic crisis

“Global Financial Crisis: Challenges and Policy Responses”

Currently, the world still face challenges from the global financial crisis. Stock market in the world has decreased, many financial institutions have come apart, and the weakening global economy has lead the world into a deeper recession. Government in the developed countries and developing countries are and should provide the rescue package.

From the macro perspective, the crisis gave birth to this fundamental question on the model used by academics, governments, central banks and the private sector. Interconnection of the world economy seems far more closely than the assumed and estimated. The world may need a new Keynes or Phelps, or at least the second Lucas memodelkan how to flush the financial sector can impact and create a global recession.

In the trade, the decline in trade flows quickly reminds us how the world has now changed where national product 100% and almost lost replaced by serpihan components of the various countries that dirangkai to be a product of the world. Wall lancarnya to keep the WTO world trade, this time by the policies of each state to direct the request to aggregate their domestic market.

From the financial side, there is general agreement that the world requires a framework of better regulation. Gist and the characters have changed modern finance - usually due to policy changes, such that also lead changes in the nature of financial crises, systemic risk and the consequences makronya. Without doubt, this crisis is a global policy challenge for our generation. Specifically, this is a challenge for economists with a unique contribution.


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