美国普林斯顿大学有关全球化金融危机的assignment的写作参考 [3]
论文作者:英语论文论文属性:作业 Assignment登出时间:2014-10-22编辑:yangcheng点击率:14093
论文字数:6627论文编号:org201409021240369484语种:英语 English地区:美国价格:免费论文
关键词:全球化金融危机科威特金融留学生金融危机留学生作业
摘要:这是一篇留学生金融类的assignment,写的是全球化金融危机对于科威特的影响。自2008年金融危机席卷全球以来,人们备受苦难,金融灾难袭击的科威特地区也受到重大影响,全文是对科威特经济的一个分析。
e it was fighting France in the French Revolutionary wars at the time. This indicates how the effects of recession on one country can travel quickly to another.
Between 1807 and 1814, the next recession occurred. It was called the depression of 1807. This depression was primarily caused by the Embargo Act of 1807, signed into effect by then President Thomas Jefferson. This act destroyed a good part of the shipping related industries, and it was fought hard by the Federalists, who allowed smuggling to take effect in New England as a result of the Act.
Later, following the panic of 1819, this was considered the first major financial crisis to uncover itself before the relatively new U.S. economy. This panic resulted in widespread foreclosures, failing banks, huge unemployment rates, and a gigantic slump in manufacturing and agriculture that caused havoc among Americans. This recession also marked the end of great economic expansion that had taken place following the War of 1812.
Recessions continued to plague not only America, but the rest of the world as well. Countries like Kuwait, KSA, Oman and Bahrain have all had trouble with recessions. In the year 2001, the early 2000s recession hit America. The collapse of the dot.com bubble was truly the cause of these recessions, as well as the attacks that occurred on September 11th on the World Trade Center Towers in New York City.
2. THE CURRENT RECESSION
Many factors should be taken into account in order to date the beginning and end of a recession. The unemployment rate is one of the hall marks that directly involve individuals and families. The U.S. unemployment rate stood at 6.7 percent in November 2008 and is sure to climb in the coming months (U.S. Bureau of Labor Statistics, 2008). Between 1995 and 2007, the annual unemployment rate was below 6 percent in every year except in 2003. However, in the period between 1974 and 1994, the average unemployment rate topped 6 percent for 16 of those years and 7 percent for 11 of them. The annual unemployment rate exceeded 9 percent during the worst years 1982 and 1983. During the 1974–75 and 1980–82 recessions, the unemployment rate’s decline coincided with the end of the recession. But the downturns of 1990–91 and 2001 saw unemployment continue to climb even after the recessions ended; declining only a year or more after the economy had started growing again.
The current financial crisis had its origins in an asset prices bubble that interacted with new kinds of financial innovations that masked risk. The increase in the prices of homes each year from the mid 1990s to 2006 was a significant indicator in inflating house prices. Also, the rapid rise of lending to subprime borrowers helped inflate the housing price bubble (Baily Martin et al, 2008).
Thus, The US credit crisis began as a result of negligence and irresponsibility, whether by the people they or the companies related directly or indirectly to the problem of the credit crisis and the housing mortgage. People were allowed and even encouraged to buy homes they could not afford, and were advised they could re-finance later. People did not think deeply enough about the problem and thought that the worst thing to happen was they will be allowed to refinance or sell their homes later, and that if the matter got worse, they would be able to give up their houses and start re
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