RECESSION IN GLOBAL ECONOMY {draw:frame}
It is a period that could well be regarded as perhaps the most turbulent ever faced by the markets; an era marked by unprecedented monetary easing, extremely low interest regime, missive credit expansion, and a mushrooming of house asset bubble leading to the final collapse of several iconic financial institutions.
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Causes of recession:- a) Currency crises
b) Energy crisis
c) World War
d) Under consumption
e) Overproduction
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b) Credit crunches
c) Deflation (or disinflation)
d) Foreclosures
e) Unemployment
Great Depression: 1) United States GDP annual pattern and long-term trend, 1920–40, in billions of constant dollars.
2) This is a list of recessions that have affected the United States. Though in popular thought a recession is two quarters of negative GDP growth, the beginning and ending dates of U.S. recessions are officially determined by the National Bureau of Economic Research (NBER).
3) From 1945-2007 the NBER has identified 11 recessions;
4) Their average duration was 10 months (peak to trough).
5) Most of the recessions listed here have affected economies on a worldwide scale; some of them are the Great Depression, the late 1980s recession, and the early 2000s recession. Recessions in one country are often grouped together with recessions in other countries that are related, and they commonly share a focal point as the cause of the recession.
Recessions and other Economic Crises Name Dates Duration Time since start of previous entry Causes References
Panic of 1797 (1797–1800) 3 years – The effects of the deflation of the Bank of England crossed the Atlantic Ocean to North America and disrupted commercial and real estate markets in the United States and the Caribbean. Britain's economy was greatly affected by developing deflationary repercussions because it was fighting France in the French Revolutionary Wars at the time.
Depression...