Search results for "financial crisi"
showing 10 items of 202 documents
Neoliberalism and the moral economy of fraud
2019
In the popular imaginary, corrupt officials and criminal elites have populated the global South – and especially Africa – since the 1980s. In the aftermath of the 2008 financial crisis and with the...
Conclusion and Discussion
2021
It would seem that European Politics are currently enrolled in a constant flux of uncertainty and anxiousness. The Institutional Matrix and Community of states that make up the Union seemingly cannot catch a break as they meander through a succession of crises and challenges. These are taking their toll on the EU, its unity in decision making, and countries’ commitment to ever closer Union. The sovereign debt crisis and so-called Greek Euro Crisis shook the tacit belief in the current economic architecture of the bloc and questioned the belief in intra-European solidarity. Shortly thereafter, the refugee crisis saw European States adopt ad hoc and sometimes contradictory measures for border…
1977: Hopes Fulfilled—Building Democracy in Turbulent Economic Times
2020
This chapter offers an analysis of the main economic and institutional transformations in Spain from 1977 onwards. The severe economic and financial crisis that hit Spain in the mid-1970s coincided with the arrival of democracy after Franco’s death and shaped the nature and scope of the implemented reforms (Pactos de la Moncloa). While the crisis and political instability limited the possibility of making a more radical adjustment, the consensus among different social actors, unions and political parties was fundamental to the reforms. This time hopes were fulfilled and although some reforms were left pending, those that were adopted played a seminal role in putting the Spanish economy and …
Professional Role Requirements and Universal Morals
2013
The enduring commercial and financial crisis that originated in the US and flashed over to Europe in 2008 raises a lot of serious questions not only about economic interrelations between nations but also on the behavior of political actors and financial managers in banks, hedge funds and other comparable enterprises.
La Política de la Educación social en la Europa de las desigualdades
2013
The aim of this research is to analyse some indicators which allow us to understand the current state of social education politics in Europe, with special reference to Spain. Some European and Spanish social and educational policies which try to confront the challenges of the current financial crisis are also explained. Some deficiencies, failures and contradictions attached to the process of the construction of European citizenship are pointed out. Some key topics which seem to foresee a deeper social and democratic crisis apart from the economic one are tackled. It is explained how the new forms of inequality evidence the failure of some of the important declarations of intent and objecti…
Quantifying preferential trading in the e-MID interbank market
2015
Interbank markets allow credit institutions to exchange capital for purposes of liquidity management. These markets are among the most liquid markets in the financial system. However, liquidity of interbank markets dropped during the 2007-2008 financial crisis, and such a lack of liquidity influenced the entire economic system. In this paper, we analyze transaction data from the e-MID market which is the only electronic interbank market in the Euro Area and US, over a period of eleven years (1999-2009). We adapt a method developed to detect statistically validated links in a network, in order to reveal preferential trading in a directed network. Preferential trading between banks is detecte…
ECR2 Economic Crisis: Resilience of Regions
2014
The picture of the economic situation in Europe resulting from the crisis that began in 2008 looks rather asymmetrical and diverse with regions that were not or hardly touched by the crises at all, with regions that were touched but that seem to recover rather progressively and with regions that still suffer quite a lot from the crisis. The fast and successful recovery of some particular regions strikes the eye and raises the question of what is behind this success. The economic crisis and recovery are at the core of all recent policy initiatives that set the framework for territorial development and cohesion policy. The objective of this project is to expose territorial evidence that suppo…
Industrial decline and resilience in the European Mediterranean periphery. Territorial and sectoral analysis in the region of Valencia (Spain) during…
2019
El descenso del sector industrial en la economía de la Comunitat Valenciana durante las dos últimas décadas ha sido muy acusado, ya que pasó del 25% del VAB en 1995 a menos del 17% en 2013. Este declive se explica por los cambios estructurales que tuvo que afrontar con la llegada del nuevo milenio para adaptarse a los nuevos patrones de producción y consumo propios de la globalización, que se vieron agravados por la crisis financiera de 2007. A partir de un enfoque por sectores y, a la vez, por territorios, se lleva a cabo un análisis de la evolución reciente de la industria valenciana. Se observa como el modelo predominante de esta industria sigue siendo el distrito industrial endógeno, si…
Current Account Adjustment and Retained Earnings
2018
This paper develops a formal strategy to calculate current accounts with retained earnings (RE) on equity investment and analyzes their adjustment during the global financial crisis. RE are the part of companies' profits which are reinvested and not distributed to shareholders as dividends. International statistical standards treat RE on foreign direct investment and RE on portfolio investment differently: while the former enter the current and financial account, the latter do not. We show that this differential treatment strongly affects current accounts of several advanced economies, frequently referred to as financial centers, with large positions in equity (portfolio) investment. Our em…
The response of Brent crude oil to the European central bank monetary policy
2022
Este artículo examina el impacto de las decisiones de política monetaria del Banco Central Europeo (BCE) sobre los precios del petróleo y la liquidez mediante un estudio de eventos con datos intradía. Analizamos el período de enero de 1999 a diciembre de 2020, que incluye la crisis financiera que comenzó en agosto de 2007. Nuestros resultados muestran una respuesta significativa de los rendimientos del petróleo solo durante la crisis financiera. Específicamente, encontramos que los rendimientos de los futuros de petróleo crudo Brent respondieron negativamente a variaciones inesperadas en la prima de riesgo italiana como medida de acciones de política monetaria no convencionales, y positivam…