Munich Personal RePEc Archive

World Economic Prospects in the Context of an Ongoing Global Crisis

Gheorghiu, Anda and Gheorghiu, Anca (2010): World Economic Prospects in the Context of an Ongoing Global Crisis. Published in: ENEC 2010 , Vol. 3, No. ISSN 2065-2550 (20. May 2010): pp. 151-164.

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Abstract

The current financial crisis which started in 2007 and is still ongoing in 2010, was triggered by a liquidity hortfall in the United States banking system and has been considered the worst financial crisis since the Great Depression of the 1930s, since it affected drastically most countries in the world, big corporations and contributed to declines in consumer wealth and a noteworthy downward spiral in the economic activity. In these times of global depression, most countries and companies are affected, some more than others. The financial crisis is turning out to be much deeper and broader than expected. This paper underlines what is the outcome of the financial crisis on the global economy and synthesises the main opportunities for companies in these unstable years.

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