International aspects of the Great Depression and the crisis of 2007: similarities, differences, and lessons

Grossman, Richard S.; Meissner, Christopher M.

doi:10.1093/oxrep/grq021

Cited by 20 publications

(5 citation statements)

References 31 publications

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“…As result of the 2008 global financial crisis, many export‐oriented economies suffered due to the significant shrinking of consumer demand and rise of local protectionism in the major markets, including the United States and Europe (UNCTAD ). Research has shown macro‐level evidence of firms' declining export performance and intensity (Greenaway, Kneller, and Zhang ), which is consistent with historical patterns that indicate trade decline occurring after economic depression (Grossman and Meissner ). However, to date, there has been less research on the effect of a financial crisis on exporting activities at the level of the firm, especially with respect to small and medium‐sized firms (SMEs).…”

Section: Introductionsupporting

confidence: 67%

Export Commitment and the Global Financial Crisis: Perspectives from the New Zealand Wine Industry

Lindsay²

2015

Journal of Small Business Management

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Section: Introductionsupporting

confidence: 67%

Export Commitment and the Global Financial Crisis: Perspectives from the New Zealand Wine Industry

Lindsay²

2015

Journal of Small Business Management

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“…The global economy in recent decades has experienced frequent shocks (Espitia et al, 2022). Unemployment rates rose, banks and financial crises were widespread, and international trade dropped faster than global incomes during the shocks (Grossman and Meissner, 2010). Several important cases have an impact on global economic shocks, such as trade wars (Sterne, 2019), the COVID-19 pandemic (Yilmazkuday, 2022), wars between countries (Tosun and Eshraghi, 2022) and others.…”

Section: Introductionmentioning

confidence: 99%

How to improve agricultural value-added in the MENA region? Implementation of Diamond Porter's theory in agriculture

Nugroho

Istvan²,

Fekete-Farkas³

et al. 2022

Front. Sustain. Food Syst.

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The global economy in recent decades has experienced frequent shocks. Many regions must improve their competitiveness and value-added to deal with this. One of them is in the Middle East and North Africa (MENA), where a rise in agricultural value-added (AVA) can produce more jobs than in other sectors. It is necessary to consider increasing AVA in the MENA region. Hence, the aim of this study is identifying the determinant factors of AVA in the MENA region. We employed 13 countries in the MENA region as samples in this study. The study's data spans 45 years, from 1975 to 2019. Static panel data regression analysis was employed in this study. AVA can growth by increasing the irrigated land, credit, and human capital. Meanwhile, growing inflation and economic globalization will reduce AVA. Therefore, we recommend that countries in the MENA region have to increase irrigation infrastructure, expand agricultural credit availability, encourage farmers to get a good education, improve research and development, control inflation, and find the best way to implement economic globalization.

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“…While the absence of appropriate regulatory institutions and measures (Campbell 2019), including with respect to advertising, from the 17th to the beginning of the 20th century jeopardized financial stability, this gap has since been mitigated by the creation of, for example, the U.S. Federal Reserve Bank 1 (Grossman and Meissner 2010) and the introduction of laws regulating or banning misleading advertising, such as Section 15 of the Federal Trade Commission Act.…”

Section: Introductionmentioning

confidence: 99%

Spinning: Zooming in an Atypical Consumer Behavior

Mesly

2020

Journal of Macromarketing

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The present article introduces the concept of consumer spinning. This occurs when consumers have lost track of their initial motivation to consume and engage unwittingly in hamster-like spinning in a “wheel of misfortune”, being encouraged to spend through sweetheart deals and thus incur debt without even realizing it. This article takes for example the Global Financial Crisis of 2007-2009 (GFC) during which the use of such sweeteners by sellers of predatory mortgages and advocates for lax regulations led U.S. consumers to spin and, in the process, ignore the debt trap they were falling into. We discuss the results of a functional magnetic resonance imaging ( fMRI) experiment we conducted to test the ratio of greed over risk aversion and the hypothesized phenomenon of spinning. We believe that this is the first academic attempt to examine spinning resorting to an experimental tool used regularly in neuroscience and psychology research. Our framework indicates that government regulators should take the role of marketing sweeteners into account when devising policies. Marketing managers, who strive to educate consumers and help them reduce their debt load, thus promoting better purchasing power, stand to benefit from an understanding of these possible spinning behaviors and adapt their campaigns accordingly. We believe that there should be legal consequences for encouraging consumer spinning, as this at times may be an intentional and deceitful invitation for consumers to harm themselves financially.

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International aspects of the Great Depression and the crisis of 2007: similarities, differences, and lessons

Cited by 20 publications

References 31 publications

Export Commitment and the Global Financial Crisis: Perspectives from the New Zealand Wine Industry

Export Commitment and the Global Financial Crisis: Perspectives from the New Zealand Wine Industry

How to improve agricultural value-added in the MENA region? Implementation of Diamond Porter's theory in agriculture

Spinning: Zooming in an Atypical Consumer Behavior

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