Search results for "Global recession"
showing 6 items of 6 documents
Working under pressure: economic recession and third sector development in Europe
2016
Purpose – The context conditions for third sector organizations (TSOs) in Europe have significantly changed as a result of the global economic crisis, including decreasing levels of public funding and changing modes of relations with the state. The effect of economic recession, however, varies across Europe. The purpose of this paper is to understand why this is the case. It analyses the impact of economic recession and related policy changes on third sector development in Europe. The economic effects on TSOs are thereby placed into a broader context of changing third sector policies and welfare state restructuring. Design/methodology/approach – The paper focusses on two research questions…
The impact of the Great Recession on TFP convergence among EU countries
2017
ABSTRACTThis article provides evidence on the effect of the Great Recession on productivity convergence among European Union (EU) economies. We use firm data, aggregated at the country-year level, to analyse the evolution of beta-convergence on total factor productivity (TFP) for 2003–2014. We obtain a positive impact of the recession on TFP (unconditional and conditional) beta-convergence across EU economies. These results support the existence of a catching-up process within the EU during the recent financial crisis. Other macroeconomic and institutional characteristics are important in fostering TFP growth, namely R&D intensity and quality of governance.
CHANGING SCHOOL AFTER THE GLOBAL RECESSION : THE CASE OF LATVIA
2015
Latvia demonstrates common trends with the majority of the countries affected by the recession, as well as some peculiarities in overcoming the impact of the global economic and financial recession on education mainly due to an unbelievable austerity. Education in this country has suffered greatly, and its damage is adequate to the 67% of the budget cuts between 2008 and 2011 (IZM, 2011). The article deals with the school improvement after the recession, recent implementation of innovations to cover the damages and catch up with the ideas of the Next Generation learning, to supply schools with the appropriate curricula and meeting the learners needs for their individual development and abil…
Forecasting US Growth During the Great Recession: Is the Financial Volatility the Missing Ingredient?
2012
The Great Recession endured by the main industrialized countries during the period 2008-2009, in the wake of the financial and banking crisis, has pointed out the major role of the financial sector on macroeconomic fluctuations. In this respect, many researchers have started to reconsider the linkages between financial and macroeconomic areas. In this paper, we evaluate the leading role of the daily volatility of two major financial variables, namely commodity and stock prices, in their ability to anticipate the output growth. For this purpose, we propose an extended MIDAS model that allows the forecasting of the quarterly output growth rate using exogenous variables sampled at various high…
Rethinking Labour Migration Channels: the Experience of Latvia from EU Accession to Economic Recession
2013
With the onset of recession in the UK in 2008, it was assumed that immigration from other European Union countries would decline. However, this has been shown to not be the case, with the volume of new arrivals from most of the East-Central European ‘Accession 8’ countries actually increasing. The focus of this paper is Latvia, a country that had a relatively buoyant economy following its accession to the European Union in 2004 but that now has one of the highest unemployment and emigration rates in Europe. Interviews carried out with labour providers, policymakers, and employers are used to examine the labour migration channels that reflect and structure labour migration flows from Latvia …
The effect of the great recession on foreign direct investment: global empirical evidence with a gravity approach
2013
This article estimates the effect of the present global systemic banking crisis on foreign direct investment (FDI) using the gravity equation on a sample of 161 countries over the period 2003 to 2010. Systemic banking crises, through demand shocks and credit constraints, may impact FDI in two ways: aggregate monetary flows and individual projects count. Since gravity equations account for output variations, our research relies on the financial constraints channel. We find that the great recession, through credit constraints on home supply markets, has reduced the number of FDI projects, but not their size, forcing investors to become more selective on their international endeavours.