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Q.

What was the cause of recessation all over the world

Asked by anil, 24 Mar '09 10:23 pm
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Answers (2)

1.

In economics, the term recession describes the reduction of a country's gross domestic product (GDP) for at least two quarters, significant decline in [the] economic activity spread across the country, lasting more than a few months, normally visible in real GDP growth, real personal income, employment , industrial production, and wholesale-retail sales.In macroeconomics, a recession is a decline in a country's gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year. Some economists prefer a more robust definition of a 1.5% rise in unemployment within 12 months. By this measure, three periods since 1985 qualify: 1990-1993, 1998 ,2001-2002.
There is no commonly accepted definition of a global recession, IMF regards periods when global growth is less than 3% to be global recessions. The IMF estimates that global recessions seem to occur over a cycle lasting between 8 and 10 years. During what the IMF terms the past three global reces ...more
Answered by drdinesh sharma, 25 Mar '09 12:20 am

 
  
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2.

Subprime Lending by Banks. Money laundering by Banks - in the form of giving loans for business ventures without ensuring credibility of the loanee.
Answered by ranjan mitra, 24 Mar '09 10:32 pm

 
  
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