|
Useful Links |
|
|
Article Details :: |
|
|
| Article Name : | | | GLOBAL RECESSION AND INDIAN ECONOMY | | Author Name : | | | Gangadhar V. Kayande Patil | | Publisher : | | | Ashok Yakkaldevi | | Article Series No. : | | | GRT-568 | | Article URL : | |  | Author Profile View PDF In browser | | Abstract : | | | According to National Bureau of Economic Research (NEBR) the recession in United States begins from December, 2007 and much greater intensity since September 2008. The industrialized world has been undergoing a recession, a pronounced deceleration of economic activity. This global recession has been taking place in an economic environment characterized by various imbalances and was sparked by the outbreak of the financial crisis of 2007–2009. Although the late-2000s recession has at times been referred to as "the Great Recession," this same phrase has been used to refer to every recession of the several preceding decades. A global recession has resulted in a sharp drop in international trade, rising unemployment and slumping commodity prices. In December 2008, the National Bureau of Economic Research (NBER) declared that the United States had been in recession since December 2007Several economists have predicted that recovery may not appear until 2011 and that the recession will be the worst since the Great Depression of the 1930s. The conditions leading up to the crisis, characterised by an exorbitant rise in asset prices and associated boom in economic demand, are considered a result of the extended period of easily available credit, inadequate regulation and oversight, or increasing inequality. | | Keywords : | | |
|
|