Пример готового реферата по предмету: Микро-, макроэкономика
Содержание
Contents
Introduction 3
1. Global macroeconomic risks 5
2. global financial stability 16
3. Economic risks in Nordic economies 20
Conclusion 26
Literature 28
Выдержка из текста
Introduction
Confidence in the global financial system has become fragile, as incremental policy making has yet to fully resolve near and medium term vulnerabilities. Recent steps – particularly taken by euro area policy makers – are encouraging and have been essential in addressing investors’ biggest fears, but more complete policies will be needed to stabilize the system. The combination of the weakened outlook for growth and volatile and wide peripheral spreads, has led to an increase in macroeconomic risks. Emerging market risks have also risen. Credit risks remain at elevated levels, especially in the euro area periphery.
The recent global financial crisis has resulted in global, regional and national financial stability becoming important policy issues facing policy makers, financial institutions and financial markets. As another global financial crisis is possible in time, the soundness, stability, transparency of financial systems have become one of the more important agenda items of the G20 and other international institutions/forum such as the IMF, the Bank for International Settlements, and the Financial Stability Board (FSB).
The European sovereign debt crisis and high debt in most of the developed world have been the main focus of global macroeconomic risks. But a big driver of global growth is demographics, which will weigh on productive capacity and on government finances. Europe is currently the biggest risk to the global economy. At this point, the dissolution of the eurozone is a remote possibility. The cost of disintegration, relative to the benefit, would be too high for the member countries and the world. The European debt crisis has more to do with the lack of fiscal union than it has to do with debt. The proposals presented at the December 9 EU summit are positive steps toward a fiscal union and necessary for survival of the region
The Nordic countries of Denmark, Finland, Norway and Sweden have small advanced economies that are tightly connected by trade and financial linkages, which extend globally. But these structural similarities are accompanied by important differences. The export bases of Denmark, Finland and Sweden are dive
rsified, while that of Norway is concentrated in energy commodities. These countries also have different monetary policy and exchange rate regimes: Denmark and Finland respectively peg to and use the euro, while Norway and Sweden target inflation.
Today several issues remain of primary concern: 1) continued economic sluggishness and financial risk in Europe; 2) a fragile recovery in the U.S.; 3) the potential for a slowdown in emerging economies; and 4) increased geopolitical tensions in Asia.
Список использованной литературы
Literature
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