GLOBAL FINANCIAL CRISIS OF THE XXI CENTURY AND ITS IMPACT ON THE WORLD ECONOMY: PROBLEMS, ANALYSIS, EXPERIENCE
Journal Title: International Journal of Innovative Technologies in Economy - Year 2017, Vol 1, Issue 6
Abstract
The fragility of the global financial institutions and their functions’ ineffectiveness are clearly revealed by the current world financial crisis. It is primarily manifested in the loss of public confidence towards them and their inability to respond adequately to the world’s new challenges. It turned out, that the International Monetary Foundation (IMF) and the World Bank are incapable to prevent, not only global but also the financial and economic crisis developed in various countries. It is noteworthy that the current world crisis cast doubt not only the economic and financial theories developed nowadays but also revealed the weakness of the practical anti-crisis leverages during the settlement of the situation. Based on the analysis, is concluded: After half-century since its foundation, it became evident that the International Monetary Foundation failed to fulfill its mission. It hadn’t done what it would have done – Appropriation of funds for countries, which had economic difficulties. After that, the countries would be able to reinforce the economic so that the majority of the population would have been employed in the country. Nearly a hundred countries have suffered crisis. Moreover policy initiated by the International Monetary Foundation has contributed to global instability, for example: Lliberalization of the Capital Market. When any country is in crisis, implemented programs by International Monetary Fund situation did not improved, but further fueled, especially for the poor.
Authors and Affiliations
Nino Tagoshvili
Keywords
Related Articles
- EP ID EP466090
- DOI -
- Views 142
- Downloads 0
КОГНІТИВНЕ МОДЕЛЮВАННЯ ВПЛИВУ ВЗАЄМОДІЇ ПОКАЗНИКІВ ПЛАНУВАННЯ ТА ВИКОНАННЯ БЮДЖЕТНОГО ПРОЦЕСУ ЗСУ НА ЕФЕКТИВНІСТЬ ОБОРОННОЇ РЕФОРМИ
A significant part of the indicators of planning and implementation of the budgetary process of the Armed Forces of Ukraine (MAT) are interrelated, which affect the effectiveness of the budget policy of defense reform. Q...
ГОСУДАРСТВЕННАЯ ПОДДЕРЖКА РАЗВИТИЯ ПРЕДПРИНИМАТЕЛЬСТВА В РЕСПУБЛИКЕ КАЗАХСТАН
One of the priority directions of the economic reform, currently being carried out in Kazakhstan, is the formation and development of small business. The society is increasingly aware that small business is one of the ke...
ПЕРСПЕКТИВНІ НАПРЯМИ МОДИФІКАЦІЇ БЮДЖЕТНО-ПОДАТКОВОЇ СТРАТЕГІЇ УКРАЇНИ В УМОВАХ ГЛОБАЛІЗАЦІЙНИХ ТРАНСФОРМАЦІЙ
The problem of the Ukrainian fiscal system reformation is studied in the article. In a modern conditions, when the global processes additionally modify not only the internal situation in each country, but completely chan...
АКТУАЛЬНІСТЬ ОРГАНІЗАЦІЇ ОБЛІКУ ДЕБІТОРСЬКОЇ ЗАБОРГОВАНОСТІ В УПРАВЛІННІ ПІДПРИЄМСТВОМ
The article seeks to investigate the problems of organizing accounting of receivables in the management of the enterprise, to take into account the updated requirements of normative legal acts on its implementation and t...
EFFECTIVE USE OF LAND AND RESOURCES IN KAZAKHSTAN THROUGH REDUCED ECOLOGICAL EFFECTS
This study investigates Kazakhstan’s agriculture in two sections. First, it discusses its importance, practical usage and research methods. Second, its benefit to the country, where effective land use is considered. It f...