Search results for: geopolitical and economic crisis
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1701

Search results for: geopolitical and economic crisis

1701 Modern Kazakhstan in Global World After Independence

Authors: Dmitri Men, Byong-soon Chun, Soon-ok Myong

Abstract:

The article deals with the problems of political and economic processes in Kazakhstan since independence in the context of globalization. It analyzes the geopolitical situation and selfpositioning processes in the world after the end of the "cold war". It examines the problems of internal economization of the Republic for 20 years of independence. The authors argue that the reforms proceeded in the economic sphere have brought ambiguous and tangible results. Despite the difficult economic and political conditions facing a world economical crisis the country has undergone fundamental and radical transformations in the whole socio-economic system

Keywords: Globalization, Kazakhstan, integration, economic processes, financial crisis, multi-vector.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4644
1700 A Theory-Based Analysis on Implications of Democracy in Cambodia

Authors: Puthsodary Tat

Abstract:

Democracy has been categorially accepted and used as foreign and domestic policy agendas for the hope of peace, economic growth and prosperity for more than 25 years in Cambodia. However, the country is now in the grip of dictatorship, human rights violations, and prospective economic sanctions. This paper examines different perceptions and experiences of democratic assistance. In this study, the author employs discourse theory, idealism and realism as a theory-based methodology for debating and assessing the implications of democratization. Discourse theory is used to establish a platform for understanding discursive formations, body of knowledge and the games of truth of democracy. Idealist approaches give rational arguments for adopting key tenets that work well on the ground. In contrast, realism allows for some sweeping critiques of utopian ideal and offers particular views on why Western hegemonic missions do not work well. From idealist views, the research finds that Cambodian people still believe that democracy is a prima facie universality for peace, growth and prosperity. From realism, democratization is on the brink of death in three reasons. Firstly, there are tensions between Western and local discourses about democratic values and norms. Secondly, democratic tenets have been undermined by the ruling party-controlled courts, corruption, structural oppression and political patronage-based institutions. The third pitfall is partly associated with foreign aid dependency and geopolitical power struggles in the region. Finally, the study offers a precise mosaic of democratic principles that may be used to avoid a future geopolitical and economic crisis.

Keywords: Corruption, democracy, democratic principles, discourse theory, discursive formations, foreign aid dependency, games of truth, geopolitical and economic crisis, geopolitical power struggle, hegemonic mission, idealism, realism, utopian ideal.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 928
1699 The Effects of the Russian Crisis on Turkish Tourism Sector: A Case of Antalya Province, Turkey

Authors: Huseyin Cetin, Halil Akmese, Sercan Aras, Vahit Aytekin

Abstract:

Economic crisis, terrorism, global crisis and the relations between countries are the factors affecting tourism industry and tourism industry is vulnerable against these factors. In our study, there are two dimensions about Russian crisis. The crisis between Russia and Ukraine and decreased oil prices in global market have been entailed Russian economic crisis. This crisis has induced that the ruble, Russian currency, has depreciated against American dollars and consequently the purchasing power of Russian has weakened. This is the first dimension of our study. Second dimension is a political crisis between Turkey and Russia owing to the fact that the Russian Warcraft was brought down by Turkish army. The aim of this study is to explain the impact of the consequences of Russian crisis on Turkish tourism industry. The study has been limited only Antalya province.

Keywords: Economic crisis, Turkey-Russian crisis, Turkey's tourism industry, tourism in Turkey.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1523
1698 EU Socioeconomic Indicators and Car Market

Authors: Christina Babatsou, Efthimios Zervas

Abstract:

Since 2008 a new economic crisis is present is the entire planet. This crisis affects several domains of the economic but also of the social life. Consumption decreases due to the lack of necessary resources of households to increase their expenditures. The car manufacturing is one of the main industrial activities in European Union (EU) and the present crisis particularly affects it. The present study examines the correlations between several socio-economic indicators and car market in European Union. The target is to find out the impact of the present economic crisis on the car market in EU.

Keywords: European Union, Passenger cars, Social indicators, Correlations

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1594
1697 The Research Approaches on Crisis and its Management

Authors: M. Mikušová, P. Horváthová

Abstract:

The paper structures research approaches to the crisis and its management. It focuses on approaches – psychological, sociological, economic, ethical and technological. Furthermore, it describes the basic features of models chosen according to those approaches. By their comparison it shows how the crisis influences organizations and individuals, and their mutual interaction.

Keywords: approaches, crisis, model.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1276
1696 Banking Crisis and Economic Effects of the Banking Crisis in Turkey

Authors: Sevilay Konya, Sadife Güngör, Zeynep Karaçor

Abstract:

Turkish economy is occurred depending on different factors from time to time and the banking crises of different magnitudes. Foremost among the factors which hinder the development of countries and societies- crises in the country's economy. Countries' economic growth rates affect inflation, unemployment and external trade. In this study, effect of November 2000, February 2001 and 2008 banking crisis on Turkey's economy and banking crisis will be examined and announced as conceptual. In this context, this study is investigates Turkey's GDP, inflation, unemployment and foreign trade figures. Turkey's economy affected have been identified from 2000 November 2001 February and 2008 banking crisis.

Keywords: Banking crises, Turkey’s economy, economic effects, Turkey.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1246
1695 Teaching Method in Situational Crisis Communication Theory: A Literature Review

Authors: Proud Arunrangsiwed

Abstract:

Crisis management strategies could be found in various curriculums, not only in schools of business, but also schools of communication. Young students, such as freshmen and sophomores of undergraduate schools, may not care about learning crisis management strategies. Moreover, crisis management strategies are not a topic art students are familiar with. The current paper discusses a way to adapt entertainment media into a crisis management lesson, and the importance of learning crisis management strategies in the school of animation. Students could learn crisis management strategies by watching movies with content about a crisis and responding to crisis responding. The students should then participate in follow up discussions related to the strategies that were used to address the crisis, as well as their success in solving the crisis.

Keywords: Situational crisis communication theory, crisis response strategies, media effect, unintentional effect.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1813
1694 An Analysis of Economic Capital Allocation of Global Banks

Authors: Petr Teply, Ondrej Vejdovec

Abstract:

There are three main ways of categorizing capital in banking operations: accounting, regulatory and economic capital. However, the 2008-2009 global crisis has shown that none of these categories adequately reflects the real risks of bank operations, especially in light of the failures Bear Stearns, Lehman Brothers or Northern Rock. This paper deals with the economic capital allocation of global banks. In theory, economic capital should reflect the real risks of a bank and should be publicly available. Yet, as discovered during the global financial crisis, even when economic capital information was publicly disclosed, the underlying assumptions rendered the information useless. Specifically, some global banks that reported relatively high levels of economic capital before the crisis went bankrupt or had to be bailed-out by their government. And, only 15 out of 50 global banks reported their economic capital during the 2007-2010 period. In this paper, we analyze the changes in reported bank economic capital disclosure during this period. We conclude that relative shares of credit and business risks increased in 2010 compared to 2007, while both operational and market risks decreased their shares on the total economic capital of top-rated global banks. Generally speaking, higher levels of disclosure and transparency of bank operations are required to obtain more confidence from stakeholders. Moreover, additional risks such as liquidity risks should be included in these disclosures.

Keywords: global crisis, economic capital, risk management, risk allocation, bank

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2932
1693 The Process of Crisis: Model of Its Development in the Organization

Authors: M. Mikušová

Abstract:

The main aim of this paper is to present a clear and comprehensive picture of the process of a crisis in the organization which will help to better understand its possible developments. For a description of the sequence of individual steps and an indication of their causation and possible variants of the developments, a detailed flow diagram with verbal comment is applied. For simplicity, the process of the crisis is observed in four basic phases called: symptoms of the crisis, diagnosis, action and prevention. The model highlights the complexity of the phenomenon of the crisis and that the various phases of the crisis are interweaving.

Keywords: Crisis, management, model, organization.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1088
1692 How Do Crisis Affect Economic Policy?

Authors: Eva Kotlánová

Abstract:

After recession that began in 2007 in the United States and subsequently spilled over the Europe we could expect recovery of economic growth. According to the last estimation of economic progress of European countries, this recovery is not strong enough. Among others, it will depend on economic policy, where and in which way, the economic indicators will proceed. Economic theories postulate that the economic subjects prefer stably, continual economic policy without repeated and strong fluctuations. This policy is perceived as support of economic growth. Mostly in crises period, when the government must cope with consequences of recession, the economic policy becomes unpredictable for many subjects and economic policy uncertainty grows, which have negative influence on economic growth. The aim of this paper is to use panel regression to prove or disprove this hypothesis on the example of five largest European economies in the period 2008–2012.

Keywords: Economic Crises in Europe, Economic Policy, Uncertainty, Panel Analysis Regression.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1496
1691 Development of Value Productivity in Automotive Industry

Authors: Jiří Klečka, Dagmar Čámská

Abstract:

This paper is focused on the investigation of productivity (total productivity and partial productivity). The value productivity is an indicator of level and changes in technical economic efficiency of production factors. It represents an important factor in achieving corporate objectives. This text works with the contemporary concept of value productivity that means that indicators of the productivity express the effect of economic efficiency not only of inputs consumption, but also of inputs binding efficiency. This approach is based on principles of the economic profit, respectively the economic value added (EVA). The research is done on the sample of Czech enterprises operating in the automotive industry in the regions of Liberec and the Central Bohemia. The data sample covers the time period 2006-2011 which allows the comparison of development before crisis and during crisis period. It enables to discover the companies' reaction during crises and the regional comparison allows to showing if there are significant differences between regions.

Keywords: Automotive industry, Czech Republic, economic efficiency, regional comparison, value productivity.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1755
1690 International Financial Crises and the Political Economy of Financial Reforms in Turkey: 1994-2009

Authors: Birgül Şakar

Abstract:

This study1 holds for the formation of international financial crisis and political factors for economic crisis in Turkey, are evaluated in chronological order. The international arena and relevant studies conducted in Turkey work in the literature are assessed. The main purpose of the study is to hold the linkage between the crises and political stability in Turkey in details, and to examine the position of Turkey in this regard. The introduction part follows the literature survey on the models explaining causes and results of the crises, the second part of the study. In the third part, the formations of the world financial crises are studied. The fourth part, financial crisis in Turkey in 1994, 2000, 2001 and 2008 are reviewed and their political reasons are analyzed. In the last part of the study the results and recommendations are held. Political administrations have laid the grounds for an economic crisis in Turkey. In this study, the emergence of an economic crisis in Turkey and the developments after the crisis are chronologically examined and an explanation is offered as to the cause and effect relationship between the political administration and economic equilibrium in the country. Economic crises can be characterized as follows: high prices of consumables, high interest rates, current account deficits, budget deficits, structural defects in government finance, rising inflation and fixed currency applications, rising government debt, declining savings rates and increased dependency on foreign capital stock. Entering into the conditions of crisis during a time when the exchange value of the country-s national currency was rising, speculative finance movements and shrinking of foreign currency reserves happened due to expectations for devaluation and because of foreign investors- resistance to financing national debt, and a financial risk occurs. During the February 2001 crisis and immediately following, devaluation and reduction of value occurred in Turkey-s stock market. While changing over to the system of floating exchange rates in the midst of this crisis, the effects of the crisis on the real economy are discussed in this study. Administered politics include financial reforms, such as the rearrangement of banking systems. These reforms followed with the provision of foreign financial support. There have been winners and losers in the imbalance of income distribution, which has recently become more evident in Turkey-s fragile economy.

Keywords: Economics, marketing crisis, financial reforms, political economy

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1423
1689 Populism and the Democratic Crisis: Comparative Study of Four Countries

Authors: Hyein Ko

Abstract:

In 2017, many signs of populism occurred around the world. This paper suggests that populism is not a sudden phenomenon, but a manifestation of common people’s will. By analyzing previous research, this paper proposes three factors related to populism: Inequality, experience of economic crisis, and rapid cultural change. With these three elements, four cases will be investigated in this article; two countries experienced populism, and the other two countries did not experience it. Comparing four cases by using three elements will give a fruitful foundation for further analysis regarding populism. In sum, aforementioned three elements are highly related to the occurrence of populism. However, there is one hidden factor: dissatisfaction with established politics. Thus, populism is not a temporal phenomenon. It is a red alert for democratic crisis.

Keywords: Common people, democratic crisis, populism, Trump phenomenon.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1558
1688 Banking Union: A New Step towards Completing the Economic and Monetary Union

Authors: Marijana Ivanov, Roman Šubić

Abstract:

This study analyzes the critical gaps in the architecture of European stability and the expected role of the banking union as the new important step towards completing the Economic and Monetary Union that should enable the creation of safe and sound financial sector for the euro area market. The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim of replacing the former bail-out practice with the bail-in system through which possible future bank failures would be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. In this way, the vicious circle between banks and sovereigns would be broken. It would also reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the money market which, due to the fragmentation of the common financial market, has been significantly disabled in period of crisis. However, contrary to all the positive expectations related to the future functioning of the banking union, major findings of this study indicate that characteristics of the economic system in which the banking union will operate should not be ignored. The euro area is an integration of strong and weak entities with large differences in economic development, wealth, assets of banking systems, growth rates and accountability of fiscal policy. The analysis indicates that low and unbalanced economic growth remains a challenge for the maintenance of financial stability and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times and large banks are still a matter of concern, because of their systemic importance for individual countries and the euro zone as a whole. The creation of the Single Supervisory Mechanism and the Single Resolution Mechanism is a response to the European crisis, which has particularly affected peripheral countries and caused the associated loop between the banking crisis and the sovereign debt crisis, but has also influenced banks’ balance sheets in the core countries, as the result of crossborder capital flows. The creation of the SSM and the SRM should prevent the similar episodes to happen again and should also provide a new opportunity for strengthening of economic and financial systems of the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented towards large and significant banks (whereby one half of them operate in the core and most important euro area countries), and therefore it remains questionable to what extent will the common resolution funds will be used for rescue of less important institutions. Recent geopolitical developments will be the optimal indicator to show whether the previously established mechanisms are sufficient enough to maintain the adequate financial stability in the euro area market.

Keywords: Banking Union, financial integration, single supervisory mechanism (SSM).

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1630
1687 How Can We Carry Out Green Incentives Most Efficiently?

Authors: Peter Yang

Abstract:

Green incentives are included in the “American Recovery and Reinvestment Act of 2009" (ARRA). It is, however, unclear how these government incentives can be carried out most effectively according to market-based principles and if they can serve as a catalyst for an accelerated green transformation and an ultimate solution to the current U.S. and global economic and financial crisis. The article will compare the existing U.S. green economic policies with those in Germany, identify problems, and suggest improvements to allow the green stimulus incentives to achieve the best results in the process of an accelerated green transformation. The author argues that the current U.S. green stimulus incentives can only be most successful if they are carried out as part of a visionary, comprehensive, long-term, and consistent strategy of the green economic transformation.

Keywords: Green incentives, financial crisis, green economy, renewable energy sources, energy efficiency.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1578
1686 Application of Adaptive Neuro-Fuzzy Inference System in the Prediction of Economic Crisis Periods in USA

Authors: Eleftherios Giovanis

Abstract:

In this paper discrete choice models, Logit and Probit are examined in order to predict the economic recession or expansion periods in USA. Additionally we propose an adaptive neuro-fuzzy inference system with triangular membership function. We examine the in-sample period 1947-2005 and we test the models in the out-of sample period 2006-2009. The forecasting results indicate that the Adaptive Neuro-fuzzy Inference System (ANFIS) model outperforms significant the Logit and Probit models in the out-of sample period. This indicates that neuro-fuzzy model provides a better and more reliable signal on whether or not a financial crisis will take place.

Keywords: ANFIS, discrete choice models, financial crisis, USeconomy

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1566
1685 Management Challenges and Product Quality of Fish Farms in Greece

Authors: S. Anastasiou, C. Nathanailides, P. Logothetis, G. Kanlis

Abstract:

The purpose of the present work is to review some data for the management challenges that the aquaculture industry in Greece is currently facing. The results indicate that Greek aquaculture fish farms apply Human Resources Management (HRM) practices which can increase motivation, commitment and job satisfaction of their personnel. In turn, these practices can increase the productivity of the business. The Greek fish farms appear to invest in research and technological innovation with a good record in research activities and the generation of patents. Interestingly, the results of the present work were carried out during the period of the recent economic crisis in Greece. Several sectors of the Greek economy were severely affected by the financial problems of the Greek government and the Greek banks. Under the adverse economical conditions created by the Greek economic crisis, even the Greek aquaculture industry, which historically is considered as a thriving national exporting business sector, experienced harsh economic and market conditions. As a result of the global, European and national economic crisis, consumption of fish dropped while companies had to hold most of their stocked fish in order to regulated the flow to the market and the price. This occurred at a time where Banks in Greece had their own financial crisis – banking crisis - which resulted in limited access to lending for the all business sectors of the national economy including the Greek aquaculture industry. In spite of these economic conditions, the Greek aquaculture industry, after a series of mergers and acquisitions, has now stabilized production and exhibits very good prospects for future growth. Evidently, the firms had to cut salaries and on some occasions even pay their staff in arrears. Nevertheless, the results presented in this paper indicate that during the economic crisis, the surveyed fish farms maintained their HRM practices, investing in their human capital and technological input. In fact, human capital and technological input are the ticket for future success of companies in any business sector.

Keywords: Aquaculture, Human Resources Management.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2799
1684 Measuring the Performance of the Accident Reductions: Evidence from Izmir City

Authors: Y. Duvarci, S. Mizokami

Abstract:

Traffic enforcement units (the Police) are partly responsible for the severity and frequency of the traffic accidents via the effectiveness of their safety measures. The Police claims that the reductions in accidents and their severities occur largely by their timely interventions at the black spots, through traffic management or temporary changes in the road design (guiding, reducing speeds and eliminating sight obstructions, etc.). Yet, some other external factors than the Police measures may intervene into which such claims require a statistical confirmation. In order to test the net impact of the Police contribution in the reduction of the number of crashes, Chi square test was applied for 25 spots (streets and intersections) and an average evaluation was achieved for general conclusion in the case study of Izmir city. Separately, the net impact of economic crisis in the reduction of crashes is assessed by the trend analysis for the case of the economic crisis with the probable reduction effects on the trip generation or modal choice. Finally, it was proven that the Police measures were effective to some degree as they claimed, though the economic crisis might have only negligible contribution to the reductions in the same period observed.

Keywords: Road Safety, Police, Enforcement units, Chi Squaretest, Economic Impact.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1660
1683 State Programs Analysis and Social Crisis Management in the Republic of Kazakhstan: A Descriptive Study

Authors: Madina Kenzhegaranova, Aibol Mukhsiynov, Houman Sanandaji

Abstract:

The article is about government programs and projects and their description which are aimed at improving the socioeconomic situation in the Republic of Kazakhstan. A brief historical overview, as well as information about current socio-economic, political and transitional contexts of the country are provided. Two theories were described in the article to inform this descriptive study. According to the United Nation's Development Reports for 2005 and 2011, the country's human development index (HDI) rose by several points despite the socio-economic and political imbalances taking place in the republic since it gained its independence in 1991. It is stated in the article that government support programs are one of the crucial factors that increase the population welfare which in its turn may lead to reduction of social crisis processes in the country.

Keywords: human capital, social crisis, state programs, unemployment

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1514
1682 Flexible Communication Platform for Crisis Management

Authors: Jiří Barta, Tomáš Ludík, Jiří Urbánek

Abstract:

Topics Disaster and Emergency Management are highly debated among experts. Fast communication will help to deal with emergencies. Problem is with the network connection and data exchange. The paper suggests a solution, which allows possibilities and perspectives of new flexible communication platform to the protection of communication systems for crisis management. This platform is used for everyday communication and communication in crisis situations too.

Keywords: Communication Platform, Crisis Management, Crisis Communication, Information Systems, Interoperability, Security Environment.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2382
1681 The Elements of the Crisis Concept

Authors: Marie Mikušová, Petr Šnapka, Viktorie Janečková

Abstract:

As every system conceptions the concept of crisis is based on the system of interdependent elements. These dialectic elements occur in a majority of definitions even though called differently. For further theoretical searching but also for practical utilization it is necessary to understand these elements. The paper stresses that the concept of crisis is ambiguous. There are identified and explained the elements that are generally found in most crises (disruption, precondition, triggers etc).

Keywords: Concept, crisis, element

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1495
1680 Introducing Successful Financial Innovations: Rewriting the Rules in Light of the Global Financial Crisis

Authors: Abdel Aziz, Hadia H.

Abstract:

Since the 1980s, banks and financial service institutions have been running in an endless race of innovation to cope with the advancing technology, the fierce competition, and the more sophisticated and demanding customers. In order to guide their innovation efforts, several researches were conducted to identify the success and failure factors of new financial services. These mainly included organizational factors, marketplace factors and new service development process factors. They almost all emphasized the importance of customer and market orientation as a response to the highly perceptual and intangible characteristics of financial services. However, they deemphasized the critical characteristics of high involvement of risk and close correlation with the economic conditions, a factor that heavily contributed to the Global financial Crisis of 2008. This paper reviews the success and failure factors of new financial services. It then adds new perspectives emerging from the analysis of the role of innovation in the global financial crisis.

Keywords: Financial innovation, global financial crisis, lessons learned from global financial crisis, success factors in financial innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1677
1679 Changes in the Research of Crisis

Authors: M. Mikusova

Abstract:

Thanks to the interdisciplinary nature of crises, the position of researchers in that field is rather difficult. Very often the traditional methods of research cannot be applied there. The article is aimed at the changes in crises research. It describes the substance of individual changes and emphasizes the shift in research approaches to the crisis.

Keywords: crisis, change, research

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1151
1678 Suitability of Entry into the Euro Area: An Excursion in Selected Economies

Authors: Ludk Benada, Jindika Sedova

Abstract:

The current situation in the eurozone raises a number of topics for discussion and to help in finding an answer to the question of whether a common currency is a more suitable means of coping with the impact of the financial crisis or whether national currencies are better suited to this. The economic situation in the EU is now considerably volatile and, due to problems with the fulfilment of the Maastricht convergence criteria, it is now being considered whether, in their further development, new member states will decide to distance themselves from the euro or will, in an attempt to overcome the crisis, speed up the adoption of the euro. The Czech Republic is one country with little interest in adopting the euro, justified by the fact that a better alternative to dealing with this crisis is an independent monetary policy and its ability to respond flexibly to the economic situation not only in Europe, but around the world. One attribute of the crisis in the Czech Republic and its mitigation is the freely floating exchange rate of the national currency. It is not only the Czech Republic that is attempting to alleviate the impact of the crisis, but also new EU member countries facing fresh questions to which theory have yet to provide wholly satisfactory answers. These questions undoubtedly include the problem of inflation targeting and the choice of appropriate instruments for achieving financial stability. The difficulty lies in the fact that these objectives may be contradictory and may require more than one means of achieving them. In this respect we may assume that membership of the euro zone might not in itself mitigate the development of the recession or protect the nation from future crises. We are of the opinion that the decisive factor in the development of any economy will continue to be the domestic economic policy and the operability of market economic mechanisms. We attempt to document this fact using selected countries as examples, these being the Czech Republic, Poland, Hungary, and Slovakia.

Keywords: Currency exchange rate, Maastricht convergence criteria, monetary union, public finances.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1650
1677 Economic Neoliberalism: Property Right and Redistribution Policy

Authors: Aleksandar Savanović

Abstract:

In this paper, we will analyze the relationship between the neo-liberal concept of property rights and redistribution policy. This issue is back in the focus of interest due to the crisis 2008. The crisis has reaffirmed the influence of the state on the free-market processes. The interference of the state with property relations reopened a classical question: is it legitimate to redistribute resources of a man in favor of another man with taxes? The dominant view is that the neoliberal philosophy of natural rights is incompatible with redistributive measures. In principle, this view can be accepted. However, when we look into the details of the theory of natural rights proposed by some coryphaei of neoliberal philosophy, such as Hayek, Nozick, Buchanan and Rothbard, we can see that it is not such an unequivocal view. 

Keywords: Economic neoliberalism, natural law, property, redistribution

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2026
1676 Neo Realism in Thai’s Film after Political Crisis in October 14, 1973 and Political Crisis between 2005-2014

Authors: Pison S.

Abstract:

The objective of presenting this article is to analyze between Thai’s film and Thai society in political crisis, to study the development and trend of the film which reflects society in Thailand from political crisis of 14 October 1973 and the present day political crisis using a comparative study of the two era, both the similarities and differences in the film reflects the society in an era of change.

Keywords: Film, Political, Neo Realism, Thailand.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1463
1675 The Global Crisis, Remittance Transfers, and Livelihoods of the Poor

Authors: Craig Loschmann

Abstract:

With the global financial crisis turning into what more and more appears to be a prolonged “Great Recession", we are witnessing marked reductions in remittance transfers to developing countries with the likely possibility that overall flows will decline even further in the near future. With countless families reliant on remittance inflows as a source of income maintaining their economic livelihood, a reduction would put many at risk of falling below or deeper into poverty. Recognizing the importance of remittance inflows as a lifeline to the poor, policy should aim to (1) reduce the barriers to remit in both sending and receiving nations thus easing the decline in transfers; (2) leverage the development impacts of remittances; and (3) buffer vulnerable groups dependent on remittance transfers as a source of livelihood through sound countercyclical macroeconomic policies.

Keywords: crisis, migration, remittance, livelihood.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1664
1674 The Use of Computer Simulation as Technological Education for Crisis Management Staff

Authors: Jiří Barta, Josef Krahulec, Jiří F. Urbánek

Abstract:

Education and practical training crisis management members are a topical issue nowadays. The paper deals with the perspectives and possibilities of "smart solutions" to education for crisis management staff. Currently, there is a large number of simulation tools, which notes that they are suitable for practical training of crisis management staff. The first part of the paper is focused on the introduction of the technology simulation tools. The simulators aim is to create a realistic environment for the practical training of extending units of crisis staff. The second part of the paper concerns the possibilities of using the simulation technology to the education process. The aim of this section is to introduce the practical capabilities and potential of the simulation programs for practical training of crisis management staff.

Keywords: Crisis management staff, computer simulation, software, technological education.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1520
1673 Simulation Programs to Education of Crisis Management Members

Authors: Jiri Barta

Abstract:

This paper deals with a simulation programs and technologies using in the educational process for members of the crisis management. Risk analysis, simulation, preparation and planning are among the main activities of workers of crisis management. Made correctly simulation of emergency defines the extent of the danger. On this basis, it is possible to effectively prepare and plan measures to minimize damage. The paper is focused on simulation programs that are trained at the University of Defence. Implementation of the outputs from simulation programs in decision-making processes of crisis staffs is one of the main tasks of the research project.

Keywords: Crisis Management, Continuity, Critical Infrastructure, Dangerous substance, Education, Flood, Simulation Programs.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1695
1672 The Effects of Distribution Channels on the Selling Prices of Hotels in Time of Crisis

Authors: Y. Yılmaz, C. Ünal, A. Dursun

Abstract:

Distribution channels play significant role for hotels. Direct and indirect selling options of hotel rooms have been increased especially with the help of new technologies, i.e. hotel’s own web sites and online booking sites. Although these options emerged as tools for diversifying the distribution channels, vast number of hotels -mostly resort hotels- is still heavily dependent upon international tour operators when selling their products. On the other hand, hotel sector is so vulnerable against crises. Economic, political or any other crisis can affect hotels very badly and so it is critical to have the right balance of distribution channel to avoid the adverse impacts of a crisis. In this study, it is aimed to search the impacts of a general crisis on the selling prices of hotels which have different weights of distribution channels. The study was done in Turkey where various crises occurred in 2015 and 2016 which had great negative impacts on Turkish tourism and led enormous occupancy rate and selling price reductions. 112 upscale resort hotel in Antalya, which is the most popular tourism destination of Turkey, joined to the research. According to the results, hotels with high dependency to international tour operators are more forced to reduce their room prices in crisis time compared to the ones which use their own web sites more. It was also found that the decline in room prices is limited for hotels which are working with national tour operators and travel agencies in crisis time.

Keywords: Marketing channels, crisis, hotel, international tour operators, online travel agencies.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 817