THE WORLD FINANCIAL AND ECONOMIC CRISIS AND ITS IMPACT ON TAJIKISTAN
Abstract
The financial crisis that started in U.S. real estate markets in late 2007 has now developed into a financial and economic crisis, spreading to most countries of the world.
The signs of a financial crisis include a decline in bank liquidity, which means a loss of potential customers; rising interest rates on loans, the demand for which decreases; the bankruptcy of a certain part of credit institutions and a financial market slump.
An economic crisis is characterized by a slowdown in GDP growth and a decline in GDP per capita. The supply of goods and services decreases due to a drop in their production, while demand increases; accordingly, prices go up, unemployment rises, and social tensions increase.
The current crisis is the deepest one in the history of capitalism since the Great Depression of the 1930s, and its consequences will probably be felt in the medium term as well.
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References
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Here and below we use data from a report by L.H. Saidmuradov, “Mirovoi finansovyi krizis i mery po iego pre-odoleniu na global’nom urovne,” in: Mirovoi finansovyi krizis i Tadzhikistan, Workshop on the World Financial Crisis and Tajikistan, Workshop Materials, NDPT, Dushanbe, 2009, p. 117.
Gosudarstvennaia sluzhba, No. 3, 2009, p. 17.
V.I. Kushlin, “Innovatsionnye faktory ekonomicheskogo razvitia v sovremennykh usloviakh,” Gosudarstvennoie regulirovanie ekonomiki i povyshenie effektivnosti deiatel’nosti subiektov khoziaistvovania, Fifth International Workshop on State Regulation of the Economy and Improvements in Economic Efficiency, Collected Reports, Part I, Academy of Management under the President of the Republic of Belarus, Minsk, 2009, p. 379.
See: M.M. Hasanov, H.D. Saidhojaev, Vneshni dolg: mirovye tendentsii i ikh prilozhenie k ekonomike Tadzhikis-tana, 3rd edition (revised and enlarged), NPITsentr, Dushanbe, 2004, p. 67.
Data taken from: B. Slay, op. cit.
Ibidem.
Ibidem.
Roundtable on the Impact of the Global Financial Crisis on Labor Migration from Tajikistan, Vliyanie mirovogo finansovogo krizisa na trudovuiu migratsiu iz Tadzhikistana, IOM, Dushanbe, 2009, p. 110.
See: Asia-Plus, No. 1 (520), 2010.
See: Asia-Plus, No. 36 (503), 2009.
See: Asia-Plus, No. 22 (489), 2009.
See: Asia-Plus, No. 36 (503), 2009.
See: Ibidem.
See: Vneshneekonomicheskaia deiatel’nost RT, Statistical Handbook, State Statistical Committee, Dushanbe, 2009,
See: Asia-Plus, No. 5 (524), 2010.
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See: Asia-Plus, No. 22 (489), 2009.
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See: Asia-Plus, No. 9 (528), 2010.
Data taken from: B. Slay, op. cit.
Roundtable Vliyanie mirovogo finansovogo krizisa na trudovuiu migratsiu iz Tadzhikistana, p. 110.
See: Ibid., p. 171.
See: Asia-Plus, No. 1 (520), 2010.
Roundtable Vliyanie mirovogo finansovogo krizisa na trudovuiu migratsiu iz Tadzhikistana, p. 108.
See: Ibid., p. 171.
Ibid., p. 118.
See: Asia-Plus, No. 1 (520), 2010.
See: Asia-Plus, No. 9 (528), 2010.
Roundtable Vliyanie mirovogo finansovogo krizisa na trudovuiu migratsiu iz Tadzhikistana, p. 111.
See: Ibid., p. 171.
See: Ibidem.
See: A.J. Khaidarov, “Osobennosti perekhodnoi ekonomiki v Tadzhikistane v kontekste demograficheskikh izmene-ni,” in: Perekhod ot teorii i praktiki pooshchrenia ekonomicheskogo rosta k kontseptsii chelovecheskogo razvitia, Workshop on the Transition from the Theory and Practice of Promoting Economic Growth to the Concept of Human Development,Workshop Materials, IIQCS, Dushanbe, 2008, p. 118.
Roundtable Vliyanie mirovogo finansovogo krizisa na trudovuiu migratsiu iz Tadzhikistana, p. 113.
See: Ibid., p. 171.
See: Asia-Plus, No. 22 (489), 2009.
See: Asia-Plus, No. 1 (520), 2010.
See: President Emomali Rakhmon’s Address to the Oliy Majlis, Sharki Ozod, Dushanbe, 2009.
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