Ukwazisa: Umjikelo Ohlala Ukho Wengxaki Nokusabela

Iingxaki zezoqoqosho azizizinto ezingaqhelekanga kodwa zizinto eziphindaphindwayo zenkqubo yekapitali. Ukusukela kunyaka ka-1907 ukuya kumlinganiselo omkhulu woxinzelelo lwezoqoqosho, ukunyuka kweminye imimandla yemali ye-1970, i-Asian Financial Crisis yehlabathi ngezaMali (GFC) yowama-2009, kunye nepolycrasis ebangelwa yile ngxaki ye-COVOVID-19, nganye ivavanya amandla okulawula. Ucelomngeni oluphambili koorhulumente lulungelelanisa ukwakhiwa ngokukhawuleza kunye nokwakhiwa kwakhona okude, lonke elo xesha lihambayo lide lithe kratya nemeko yezopolitiki nezoluntu.

Olu hlalutyo luthelekisa iimpendulo zeqhinga leendawo ezininzi ezahlukileyo zezoqoqosho kunye neemeko ezinkulu zakutshanje. Ngokuhlola iUnited States , , yaseJapan', [[[FLT]]], [[FLT]] German [, kunye , kuyacaca ukuba akukho Ncwadi yomdlalo jikelele. Ukhetho lwemithetho luhluzo luhlulwa ngovimba wesiko, ukwakhiwa kwezoqoqosho, kunye noluvo lwezopolitiki. Ukuqonda ezi ntlobo ziyimfuneko ekunyuseni izakhiwo zelizwe lonke.

Izixhobo Zolawulo: Umsebenzi Osisiseko Wokuthelekisa

Ngaphambi kokuba uhlolisise iimeko zomntu ngamnye, kuluncedo ukuchaza izixhobo ezisisiseko ezikhoyo koorhulumente:

  • [[UMTL:0] Inkqubo ye-Fascal: Inkcitho karhulumente Ngqo (ii-apples, iibheyile, iziseko) kunye notshintsho lwerhafu.
  • [[UMTHETHO] Umgaqo-nkqubo oququzelelayo: uhlenga-hlengiso lwesantya senzala, imisebenzi evulekileyo yemarike, kunye nezixhobo ezingadibaniyo ezifana neQuantitive Elula kunye nokukhupha uLawulo lweGophe.
  • [[Umthetho:0] Inkqubo yokwalathisa: Iinguqu kwimithetho yebhanki, iimfuno zekomkhulu, kunye nokhuseleko lwabathengi.
  • I-inshorensi yemisebenzi, ukugqithiselwa kwemali, uncedo lokutya, kunye nomsebenzi kawonke-wonke.

Ukuthunyelwa kwezi zixhobo kuyahluka-hluka ngokubhekiselele kumgangatho wenkqubela-phambili yelizwe, ukuzimela kwebhanki elisembindini, nokufikelela kwalo kumakomkhulu ehlabathi lonke.

Isifundo Setyala 1: United States – Ityala Lokungenelela Ngogonyamelo

I-United States isoloko ibonisa ukukhethelwa ukungenelela okukhulu, okukhawulezileyo, nokudla ngokubakho jikelele ngamaxesha amanqam. Le ndlela isekelwe kwizifundo zoKudodobala Okukhulu nokuququzelelwa kwiNew Dealsame.

Ingxaki Yemali Esemhlabeni Wonke Yowama - 2008

Abaphathi be-GFC basabela kwi-GFC ngokuxuba iibheyile zebhanki (Inkqubo yoncedo eBanziweyo, okanye i-ATARP) kunye nentshukumisa eninzi (Melika kunye neRevestment Act). Ngokwangoko, iFederal Reserve ehlikisiweyo kufutshane neqanda elingunozala kwaye ivelise iinkqubo ezinkulu zeQuantitive Eating Eating (QE) zokuzinzisa iimarike zemali. Ngelixesha lempikiswano, esi simo silwaluvo sathintela ukunqongophala okukhulu koxinzelelo lwesibini. Noko ke, ukuchachacha kwembali, ukutyhila imida yokuzisela imali ngaphandle kokuthetha ngokuthe ngqo kwimiqathango yendlu.

IPONTID-19

Ukusabela kwe-US kule ngxaki kwakungazange kubonwe ngesilinganiso. Umthetho weCacio - Act, iPPP, kunye nesiCwangciso sokuhlangula saseMelika safaka malunga nezigidi ezingamawaka asibhozo eerandi kwizoqoqosho. Uvavanyo olungqalileyo kwiintsapho, ukwandisa i-inshorensi yokungaqeshwa, kunye nenkxaso-mali yeshishini yakhokelela ekuchacheni ngokukhawuleza, ukuguquka kweV. Noko ke, esi sitofu sikhulu senkcitho, sidityaniswe nokudityaniswa kweminxeba, yayingumqhubi oyintloko wokwanda kokwehla kwamaxabiso. Umjikelo womkhosi onzima olandelayo wokunyuka kwemali enqanawa ehamba ngamandla ehamba ngokunjalo ubonise ukunqongophala korhwebo olunzima phakathi kokuxhasa nokulawula ukunyuka komgangatho.

Imodeli ye-US ifaka indawo yayo ekhethekileyo njengomkhuphi wemali yebekela lomhlaba wonke, iyinika igumbi eliphezulu elikhethekileyo. Ixhomekeke kakhulu kwiFederal Reserve enamandla, ezimeleyo ekwaziyo ukuvelisa izinto ezinamandla. Imbali yempendulo yeFed' kuphazamiso lwemali inika umongo obalulekileyo wendima yayo yale mihla.[

Isifundo Setyala 2: EJapan – Inkcaso Ende

Ukuphendula kolawulo lwamaJapan kuphenjelelwa kakhulu ngamava exabiso lexabiso eliyi-atmosfera ewile ekuqaleni koo1990. Iziphumo ze "Lost Decade [iii)] misela inkqubo ebeka phambili ukulwa ukukhutshwa kwexabiso ngaphezulu kwezinye zonke.

Iminyaka Elishumi Elahlekileyo Neebhenomics

Phantse amashumi amabini eminyaka, iJapan yaxakeka nokwanda okumileyo, amaxabiso ehlayo, kunye nenkqubo yokubophelela iibhanki ebuthathaka. Urhulumente wathumela iimpahla ezininzi ezinika amandla okunyusa isantya, ngokubhekiselele kwimisebenzi kawonke-wonke. IBhanki yaseJapan (BoJ) yaba ngumhambi wamva kwimithetho engadibanisi matheko kodwa ekugqibeleni yaba yeyona bhanki inamandla ehlabathini. Phantsi kwePrimente yeGsinzobeomics "Abeomics" (20202), i-BoJ yamkela ixhoba lokunyuka koxabiso, yakhupha intengiso enkulu yexabiso nentengiso engalunganga kunye nokukhupha i-Rhostling Control (YCC).

I-Yen kunye nomthamo ozalisayo

Abenomics zaphumelela ekupheliseni ukukhutshwa kwemali nokuthoba isantya somgangatho weyen ukuxhasa abarhwebi abathunyelwa kwamanye amazwe, kodwa yasilela ukuvelisa ukukhula okuqinileyo okanye ukunyuka okungaguquguqukiyo. IBoJ yaphela isiba nee-50% zodibaniso lukarhulumente, idala ukugqwethwa okubalulekileyo kwentengiso. Ukunyuka kokwentengiso komhlaba kwangoku kwanika iJapan ithuba lokuphuma kwinkqubo yayo ethambekileyo. Ngo-2024, iBhange yexesha lokuqala kwiminyaka eyi-17, ukutshintsha okungokombali. Isifundo esingundoqo esivela eJapan yingxaki enkulu yokulawula umgibe owenziwe ngomgibe owentla nendleko yezobupolitika nexabiso lemali ye-encontentionation. [FLT:]

Isifundo Semeko 3: Jamani – Ukusuka Kwisithethe Sokungaguquguquki Ukuya Kwindawo Eqhelekileyo

Ulawulo lwengxaki yaseJamani luchazwa kukungavumelani kwayo nembali yokunyuka kwamaxabiso kunye nozibophelelo kwingqeqesho yemali. Le ndlela yebhinqa laseSwabian ivavanywe kakhulu ziimeko ezinzima ezilandelelanayo.

Ingxaki yeYurozone (200-2012)

Xa i-Urozone yajongene namatyala aphezulu e-Greece, e-Ireland, nase-Portugal, iJamani yaba lizwi eliphambili lokufumana imali engqongqo. Ngokutshintshiselana ngemali-mboleko, amazwe anetyala kwakufuneka asebenzele ukugawula nokulungisa okunzulu kwemali. Ngoxa iJamani yayikholelwa ukuba oku kwakuza kubuyisela intembelo, abagxeki bayiphikisayo yayenza yakhula kakhulu inkcitho yezoqoqosho kunye nemeko yezopolitiko eMazantsi Yurophu. Uqoqosho lwemali olunzima, oluthe lwathunyelwa kwamanye amazwe, lwafunyanwa ngokukhawuleza ngenxa yecandelo elinamandla lemizi - Kzazejown [ [ums.injini yexeshana)] icebo lokusebenza, elagcina umsebenzi uluncedo.

Ingxaki yamandla kunye neDoppel-Wamm

Imfazwe eUkraine yadala ingxaki enkulu yamandla eJamani, isongela isiseko sayo soshishino. Kuhambo olukhulu kwisithethe sayo esiqhelekileyo, urhulumente washiya "ityala lebhuleki" kwaye wavakalisa i-CR200 yezigidi zezigidi "isikhuselo sezoqoqosho" ukugquma amaxabiso egesi nombane. Olu tshintsho lubonisa ukuba kwanabona barhulumente abaninzi abatyebileyo banokunyanzelelwa ukuba bangenele kakhulu ekungeneleni kwabo ngelixa elikhoyo. Amava amaJamani abalaselisa uxinezelelelo phakathi kwemithetho ende yexesha elide kunye neengxaki zexesha elifutshane eziyimfuneko. IBhunga lezazi zezoqoqosho laseJamani lisoloko lihlola imicimbi kurhwebo-oklonke phakathi kwalemiqatha nezenzo zobumeko.

Isifundo Se - 4: Ghana – Ishishini Elishushu

Izinto ezinokukhethwa kuqoqosho olusaphukayo zinyanzelekile kakhulu. Ngenxa yokungabi namali egciniweyo kunye nentengiso yamakomkhulu asekhaya, bajongene "nokuphela kwesantya esikhawulezileyo" sokunyuka kwemali, ukuwa kwemali, kunye nendleko yokuboleka. IGhana inikeza umzekelo ocacileyo wakutshanje.

Ingxaki yezoqoqosho eMali

IGhana yangena kwingxaki enkulu yezoqoqosho ngowama-2022, eyayiphawulwa kukunyuka kwexabiso lemali, i-cedi etshonayo, kunye nomgangatho wamatyala ongangeni maninzi. Ngokungafaniyo ne-US okanye iJapan, iGhana ayinako ukuboleka indlela yayo yokuphuma okanye ukushicilela imali ngaphandle kokuxhobisa ukunyuka kwemali eninzi kakhulu. Urhulumente wanyanzeleka ukuba anciphise imali, anyuse irhafu, kwaye angene kwimali engamawaka ezigidi zeerandi ezilishumi elinesibini semali kunye nemali ye-International Monetary Fund (IMF). Imeko engundoqo yayingenakuyiboleka imali ehlawulwa yimali ehlawulo eninzi kakhulu. Urhulumente wanyanzeleka ukuba ahlawule imali, anyuse phantsi kwe-G20 yeFrames.

Name

Iimpendulo zolawulo kule meko zojikelezo zibunjwe kakhulu ngabadlali bangaphandle. Urhulumente ujongene norhwebo olubuhlungu phakathi kokuzalisekisa ukusetyenziswa kwe-IMF-manterived (ukususa inkxaso-mali yezemali, ukususa inkxaso-petroli) kunye nokulondoloza uzinzo lwentlalo. Ubuchule bokuhlawula imali edityanisiweyo buphantse bungabinakuthintelwa, njengoko urhulumente kufuneka ajolise ingqalelo ekulungiseni uzinzo lwemali lwemakethili ukuze afumane ukuthembeka. Umzekelo waseGhanani ugxininisa ukubaluleka kobunyani benkqubo kunye nezinto ezinzima ezijongeneemeko zenkqubo zamazwe ngaphandle komnatha wokhuseleko lwehlabathi lonke. [[FLT:] Iinkqubo ze-IMF] zityhila kuqala iimeko zeGhana kunye nee-octivestions.[FF]

Uhlalutyo oluthelekisayo: Iindlela zedivergente, Usukelo oluqhelekileyo

Ukulayishwa kwezimeko ngamacala ngamacala kutyhila iimbabala ezintathu ezinkulu zonyuso lojiko:

Ukungaguquguquki kombhalo wesiCrimesi

Kukho ulwahlulo olucacileyo phakathi kwe-Anglo-Melika neJapan kuthanda ukusetyenziswa kwemali eninzi kunye noncedo lwemali kunye nokhetho lokuqala lwaseYurophu lokuqinisa. Amava asemva konyaka ka-2008 agxekwa kakhulu ngaphambi kwexesha njengempendulo kudodobala okufunekayo. Noko ke, ukunyuka komlinganiselo wobunzima bombane kunyanzele kwawona mazwe aphezulu afuna ukuqiniswa ngokukhawuleza, aqinisekisa ezinye izinto ezixhalabisayo ngomngcipheko wokuziphatha okude.

Izixhobo zendibano ze-MOnetary Invotion v.

Iibhanki ezisembindini kwizoqoqosho ezihambele phambili ziye zaqinisekisa ukuba ziyakwazi ukwenza izinto ngendlela emangalisayo, ziphuhlisa izixhobo ezifana ne-QE, ukhokelo oluphambili, kunye nexabiso elibi. Ezi zixhobo zididanisa umgca phakathi kwenkqubo yemali neyorhwebo. Ngokwahlukileyo koko, iibhanki ezisembindini ekuvelisweni kwezixhobo ezixhaswe kakhulu: inzala ephezulu, ungenelelo lwemali oluthe ngqo, kunye neemfuno zogcino-mali. Isithuba senkqubo yazo sixinene, ithetha impazamo kunxibelelwano okanye inkqubo iziphumo ezikhawulezileyo zotshintshiselwano.

Iinethi zokhuseleko ezijoliswe kwi-oversial vs.

Impendulo ye-USCOVID yayikumntu wonke, eyanyusa imfuno ngokukhawuleza kodwa yayibiza kakhulu kwaye ijoliswe kakubi. yeyaseJamani [iKurzabert] yayijoliswe ekuxhotyisweni kakhulu, igcina imisebenzi ethile nobuchule. IJapan ijongene nemisebenzi kawonke-wonke. Amazwe akhulayo azama ukunikezela imali ngenxa yokungalawuleki kwemiqathango yamanani, ngokufuthi ixhomekeke kwimiqathango ephinda ilawuleke kakhulu efuna uqingqo-mali.

Icandelo Eliyintloko Lenkqubo Eliqhubela Kwingozi

Kutheni amazwe esabela ngendlela eyahlukileyo xa kubonakala ngathi ayasothuka?

  • Inkumbulo ekwi-Institugal:[[FT:1] I-US ikhumbula ukudodobala okukhulu, iyinika incwadi yokudlala encinane. IJamani ikhumbula ukunyuka okukhulu, iyinika incwadi yokudlala eyomeleleyo. iJapan ikhumbula ukukhutshwa kwexabiso lemali, inika yona incwadi yokudlala yokuphinda isetyenziswe. Le mbali icwangcisa ngokokukhetha kwenkqubo kamashumi eminyaka.
  • Isakhiwo selizwe esineemeko-mali: Abarhwebi bemveliso bangaphandle bajongene neengxaki ezahlukeneyo kunezoqoqosho ezinkulu zemali efunwa ngabantu basekhaya. Uthengiso luyibetha ngamandla iJamani; undoqo ophambili wokuphuma kwenkcaso yenkcaso ibetha ngamandla iGhana. Inkqubo kufuneka idibane nesakhiwo soqoqosho ukuze iphumelele.
  • Economy: amazwe anamandla, anamandla alawulayo asoloko egqithisa kamsinya iindleko ezinkulu. Oorhulumente boburhulumente bale ngxaki badla ngokucotha, baqhutyelwa iingxubusho ezininzi, yaye basoloko becotha. Izibophelelo ezinamandla zokusebenza zinceda ukuqhubana ngobuchule bokwenza uphando lwemivuzo, njengoko kubonwa eJamani naseScandinavia.
  • Indawo ye- Indawo: Indawo yemali ye-US egcinelwe kuyo inika "ilungelo lokufumana imali," ukuvumela i-US ukuba isebenze iintsilelo ezinkulu ngaphandle kokujongana nomlinganiselo wengxaki yentlawulo. Le ngxaki ichaza umahluko omkhulu phakathi kwempendulo ye-US kunye neyaseGhana okanye eJapan. Amazwe ajongene nokungakwazi ukuboleka kwimali yawo anyanzelekile ngokwesakhiwo ngendlela e-US.

Izifundo Zolawulo Lweengxaki Zexesha Elizayo

Ngeli xesha umongo ungafaniyo, izifundo ezininzi zendalo zivela kolu hlalutyo lothelekiso:

  1. Isantya sisoloko sibaluleke kakhulu kunexesha elingaphambili: Kubunzima obukhulu bododobala kwezoqoqosho okanye ukuphaphazela kwemali, umngcipheko omkhulu wenza kancinci, emva kwexesha kakhulu. Ngexa i-USCOVID iqhubela phambili ingajoliswanga kakuhle kwezinye iinkalo, isantya sayo sasibalulekile ekuthinteleni udandatheko. Umlinganiselo wokonyuka kwemali ubonisa ukuba isantya siza nomngcipheko omkhulu omele wamkeleke.
  2. [[Umthetho:0] Ukwakha izilondolozi ezizizo ngokuzenzekelayo ezizizo ngokuzenzekelayo: I-inshorensi yokungaqeshwa ecwangcisiweyo inika inkxaso ekhawulezileyo, engaphantsi kwengxabano yezobupolitika kunemithetho ye-ad hoc egqithiswe phantsi koxinzelelo olukhulu. Ukuqinisa ezi nkqubo ngexesha elilungileyo kunika ingeniso enkulu ngexesha lokurhoxa.
  3. Ubhanyaniso lwezizwe ngezizwe lulungile lwehlabathi lonke: Impendulo elungelelanisiweyo yeG20 ngo 2008 kunye nophuhliso olukhawulezileyo lwezitomithi kunye nenkxaso yehlabathi lonke ngo-2020 yaba yimpumelelo ephawulekayo. Uqhekeko lwezoqoqosho lwehlabathi lonke emva kwe-Ukraine kunye nonyuko lokhuseleko lwenze kube nzima ukuphendula kwengxaki. Ukwakha ukuthemba kunye namaziko entsebenziswano yezizwe ngezizwe kuhlale kusesona sikhulu sesazulu sogcino-luvo.
  4. [[NTLL:0] Inkululeko yeBhanki yeNtlanganiso imele ikhuselwe: Umgca phakathi kwemiqathango yemali nenkqubo yemali uthe shwaka ngokuyingozi. Ngelixesha ifuneka ngexesha longxamiseko, iibhanki ezisembindini kufuneka zivunyelwe ukubuyela kugunyaziso lwazo lokulwa ukunyuka kozaliso. Inkqubo yemali enxulumeneyo ibeka engozini ekungalindelwanga ukunyuka komlinganiselo wokunyuka kwemali, uhlobo lwengxaki ngokwayo.
  5. Icala logcino lwezigcini zethutyana: Amazwe angenise isifo esinetyala eliphantsi ukuya ku-GDP umlinganiselo anendawo eninzi yokukhuthaza kunalawo sele enetyala elikhulu. Ukwakha isithuba esincinane ngexesha elilungileyo kukuphela kwendlela yokuba nokhetho lwenkqubo ngexesha elibi. Le yisifundo esibalulekileyo kuqoqosho oluvelayo.

Uqukumbela: Umxholo nguKing, kodwa Ukufunda Kusehlabathini Lonke

Uhlalutyo lothelekiso lwempendulo yolawulo lutyhila ukuba ngeli xesha izixhobo zolawulo lwemacro yezoqoqosho zithe zabekwa ngomgangatho othe kratya, ukusetyenziswa kwazo kuxhomekeke kakhulu kumongo. Ukusetyenziswa kwe-US kulawula umhlaba wonke ulawulo lwesithuba se-fiscal. IJapan ilwa idabi elide ngokuchasene nokukhutshwa kwemali. IJamani iyatshintsha ukusuka ekungcoliseni ukufunxeka phantsi kwengxaki yamandla. IGhana iqhuba intsontela eqinileyo ye-IMF kunye nozinzo lwentlalo.

Akukho "kulungisa" kunye ukuphendula kwingxaki yezoqoqosho. Umenzi wenkqubo osebenzayo asinguye osebenzisa imodeli yencwadi ngokufihlakeleyo, kodwa lowo uqonda iziphumo zembali zelizwe lakhe, amandla, kunye nezinto ezikhoyo zezobupolitika. Isifundo esipheleleyo sokuthelekisa ezi meko zahlukeneyo yimfuno yokulungelelaniswa, ukufunda ukujolisa ulawulo. Ingxaki elandelayo izakwahluka kweyokugqibela, kodwa imigaqo yesenzo esikhawulezayo, unxibelelwano olucacileyo, kunye noyilo lweziko oluqinileyo lweziko loburhulumente iya kuhlala ihleli isiseko esisebenzayo.