By Dr D Bhalla, IAS
The economies of various countries are so intricately interconnected that no country can remain insulated from the impact of fluctuations taking place in global economy. Economic crises over the years have had fluctuating effects, sometimes widespread and sometimes sustained for a long term.
The enormity and complexity of the world economy needs in-depth analysis. This work is an analytical study of nature, cause and effects of such crises.
India has been affected in varying measure. Crises will occur in the future and, as the Indian economy gets more inter-linked and inter-twined with the world economies, the affects can be minimized but not completely avoided. It is imperative to learn from past crises.
This book explores various recessions which occurred in the world from the Great Depression of 1929-30 to that of 2008; their classification, definitions, causes and effects. The analysis of major economies of the world in the post-2008 scenario provides deep insight into economies of U.S., U.K., Brazil, China, South Africa, Russia, European Union and India. Indian economy remained afloat even during the 2008 Recession due to its unique features. In the post-liberalisation period, India’s economy was unshackled. The robust growth on account of reform measures initiated by the government since 2014 has further spurred the economy into an unprecedented upward spiral.
Between the covers of this book is all that a analysts needs to know about the conceptual framework of financial and economic fluctuations, the history of Financial Crises, the economies of the United States of America, Brazil, South Africa, Russia, China, India, the United Kingdom and the European Union with particular reference to the post-2008 scenario.
The author has made well-thought recommendations on the way forward.
About the Author
Dr. D. Bhalla, IAS, Secretary, Lok Sabha Secretariat, is a Doctorate in Tourism and is known for his seminal work on sustainable tourism development strategies. Besides, he holds a Master’s Degree in Public Administration (MPA) and a Post Graduate Diploma in Enterprise Management.
Having held key positions in the Government of Nagaland as well as Government of India, Dr. Bhalla brings his in depth and extensive knowledge of public administration and policy making to his scholarly writings. A multi-faceted and dynamic personality, Dr. Bhalla has penned many highly regarded books on personal, social and politico-economic issues. His most recent book Future of India was a best-seller.
