“Crises in Economies and Possible Remedies by Way of Comparison with Successful Economies”
Journal Title: International Journal of Business and Management Invention - Year 2019, Vol 8, Issue 1
Abstract
The following paper examines and analyses the reasons behind economic crises among select 4 Economies. The paper focuses on Venezuela, which holds the world’s largest oil reserves, yet has the highest inflation rate in the 21st century and Pakistan which has alarmingly been a reason for caution as an unstable nuclear state whose economic failures might see control of nuclear assets pass over to radical hardliners. To provide a contrast, the China and Weimar Republic (Germany) have been examined, as these economies were devastated in early to mid-20th century. However, today they are the world’s second and fourth largest economies respectively. What led to this dramatic revival? Is it possible to duplicate those factors to revive Venezuela and Pakistan? The main parameters used include inflation for Venezuela and Weimar Republic, and external debt for Pakistan, which is much interwoven with China’s success story. The paper assumes a condition of ceteris paribus.
Authors and Affiliations
Arijit Ghosh, Angus Fernandes
Keywords
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