Population and development: impacts on environmental performance
In: Chinese journal of population, resources and environment, Band 14, Heft 3, S. 208-214
ISSN: 2325-4262
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In: Chinese journal of population, resources and environment, Band 14, Heft 3, S. 208-214
ISSN: 2325-4262
In: International journal of sustainable development & world ecology, Band 20, Heft 2, S. 116-122
ISSN: 1745-2627
In: Journal of global economy, Band 5, Heft 1, S. 25-36
ISSN: 2278-1277
Crises are an intrinsic feature of the market–oriented credit and financial system. Business cycles showing periods of boom and bust will continue to occur, only the intensity shall matter. An unprecedented crisis that erupted in five Asian economies: Indonesia, Malaysia, the Phillipines, the Republic of Korea and Thailand, in mid 1997-1998 raised concern about the stability of the "Global Financial Architecture." The clear evidence emerged of a rapid and unsustainable buildup of investment in fixed assets financed by excessive borrowing. This investment-spending spree resulted in poor profitability, reflected in low and declining returns on equity and on capital employed. The severity of the crisis in the Asian region was so great that some other countries in the world – Brazil and Russia, in particular also got affected by the contagion.