Unemployment Threat of the Financial Crisis

Castillo, Paulynne J.

doi:10.3860/apssr.v9i1.1059

Cited by 3 publications

(3 citation statements)

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“…In India over the period of 1951-2004 the underdeveloped financial systems caused income inequality, Ang (2008). In the Asian region and Philippines the financial crises most affected the employment opportunities of young workers, women migrant workers and employees of the small and medium enterprises Castillo (2009). Over the time many researchers focused on the topic of financial sector development and economic growth or development and some analyzed the influence of former on (un)employment indirectly through changes in FDI and income distribution .A little work is available on the direct relationship of financial sector development and unemployment so this study will help to fill this gap in research work.…”

Section: Previous Studiesmentioning

confidence: 99%

Contribution of Financial Sector Development in Reducing Unemployment in Pakistan

Shabbir¹,

Anwar²,

Hussain³

et al. 2011

IJEF

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The study empirically investigated the long run relationship between financial sector development and unemployment in Pakistan, along with the direction of causality. Annual data used were from the period of 1973 to 2007. Auto Regressive Distributed Lag (ARDL) bound testing technique for cointegration was applied to estimate the long run relationship. A stable long run relationship was found between financial sector indicators and unemployment. Escalating money circulation in economy proved to have negative impact on employment rate as it increased the unemployment rate by 2.3 percent for aone percent increase in M2 minus currency in circulation/GDP. Increased Financial sector activities showed positive impact on reducing unemployment in short run as well as in the long run. Further, Granger causality test revealed the importance of credit disbursement to private sector in improving job opportunities and increasing employment rate.

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Section: Previous Studiesmentioning

confidence: 99%

Contribution of Financial Sector Development in Reducing Unemployment in Pakistan

Shabbir¹,

Anwar²,

Hussain³

et al. 2011

IJEF

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“…Kaynak: TUİK ve TCMB-EVDS.Kredi hacmi, işsizlik oranı ve milli gelir arasındaki ilişkinin sunulduğu Grafik 1'de, kredi hacmindeki artışların, milli gelir artışına öncülük ettiği yani, önce krediCastillo (2009), küresel finans krizinin istihdam üzerindeki etkisini, Filipinler için analiz etmiş, bu krizde küçük ve orta ölçekli işletmelerde, istihdam kaybının daha çok olduğunu belirlemiştir Han (2009),. finansal zorluklarla işsizlik arasındaki ilişkiyi ABD için analiz etmiş ve finansal kaynaklara erişimde yaşanan güçlüklerin, ekonomide istihdam kayıplarına yol açtığını, özellikle finansal karışıklıkların, kişilerin işinikaybetmesine neden olduğunu belirlemiştir.…”

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Bankacilik Sektörü Kredi̇leri̇ni̇n İsti̇hdam Ve Ekonomi̇k Büyüme Üzeri̇ndeki̇ Etki̇leri̇: Türki̇ye Ekonomi̇si̇ İçi̇n Çoklu Yapisal Kirilmali Eş Bütünleşme Anali̇zi̇

Göçer¹,

Mercan²,

Bölükbaş³

2015

HÜ İİBF DERGİSİ

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Bu çalışmada, Türkiye'de bankacılık sektörü toplam kredi hacminin, istihdam ve ekonomik büyüme üzerindeki etkileri, Carrion-i-Silvestre vd. (2009) çoklu yapısal kırılmalı birim kök testi, Maki (2012) çoklu yapısal kırılmalı eşbütünleşme testi ve dinamik en küçük kareler yöntemi yardımıyla, 2000:Q1-2012:Q4 dönemi için analiz edilmiştir. Analiz sonucunda, Türkiye'de kredi hacmindeki artışların istihdamı ve ekonomik büyümeyi pozitif etkilediği tespit edilmiştir.

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“…Table 1 below (Source: IMF Economic Outlook) make the case vividly. The international trade had a sharp and globally fall after the crisis happened, huge number of companies were taken over by the government, millions of people lost their jobs [8].…”

Section: Consequencesmentioning

confidence: 99%

The Global Credit Crisis of 2008: Causes and Responses

Su¹

2023

HBEM

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Since the COVID-19 pandemic began in 2018, the world has been suffering. Most obviously, the coronavirus killed millions of people and severely disrupted People's Daily lives. Beyond that, one of the most important effects is the enormous damage to the global economy. Unfortunately, 2021 saw the Russia-Ukraine incident, which seriously hurt the European economy and led to great challenges for the global economy. People grew less confident in the economy and began to hoard gold. In the process of global economic development, there have been many financial crises, the financial crisis in August 2008 is undoubtedly the biggest impact on the global financial market since 1929, and the impact is even worse than that of the Great Depression. The crisis was caused by a housing bubble and misleading economic policies such as the Federal Reserve's monetary policy, subprime mortgages, and CDS. Large financial institutions failed in droves, including Lehman Brothers. The causes and effects of the financial crisis are discussed in this article. The study concludes by discussing the significance of the issue and a variety of measures to stop such occurrences in the future. To ensure steady development of the global economy, especially in light of the ongoing effects of the COVID-19 epidemic and the conflict in Ukraine, this paper must draw lessons from the previous financial crisis and enhance government intervention of the financial system through policy adjustments.

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Unemployment Threat of the Financial Crisis

Cited by 3 publications

References 0 publications

Contribution of Financial Sector Development in Reducing Unemployment in Pakistan

Contribution of Financial Sector Development in Reducing Unemployment in Pakistan

Bankacilik Sektörü Kredi̇leri̇ni̇n İsti̇hdam Ve Ekonomi̇k Büyüme Üzeri̇ndeki̇ Etki̇leri̇: Türki̇ye Ekonomi̇si̇ İçi̇n Çoklu Yapisal Kirilmali Eş Bütünleşme Anali̇zi̇

The Global Credit Crisis of 2008: Causes and Responses

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