The influence of the conjuncture cycles and the economic crisis of 2008 to the national investment markets

Bogáth, Emese Melinda and Gáspár, Sándor and Kerekes, Etelka (2019) The influence of the conjuncture cycles and the economic crisis of 2008 to the national investment markets. In: Proceedings of the 9th International Conference on Management: "People, Planet and Profit: Sustainable business and society". Szent István Egyetemi Kiadó és Üzemeltető Nonprofit Kft, Gödöllő, pp. 95-101. ISBN 9789632698823

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Abstract

Purpose: Economists have already noticed long ago that the economic crises occur in relatively regular time intervals. These crises which occur regularly in cycles and horify countries are same only apparently. It is true that they have influence maiming the economic life, however, their cause effects and runoffs are different. Economic cycles are not independent, those influence, can intensify and weaken the influence of each other. Severe crises can occur if the turning point of a Juglar and a Kondrarieff cycle meet or if a sinking period of a Kondratieff cycle and a secular trend meet. The world economic crisis beginning in 2008 fits into the Kondratieff cycle which lasted for 40 to 60 years. Methodology: In the research I examine and show the conformation of the Hungarian and Austrian investment market between 2005 and 2017. I chose this twelve years because it covers three important periods: before the economic crisis (2005-2007); period of economic crisis (2008-2012); after the economic crisis (2013-2017) The experts identify the economic recession of 2008 with the credit crisis, namely the credit borrowig and lending. The reasons of the crises are composite, due to several unlucky constellations the problem became global. According to several people the root cause is the greed of gain and the too loose monetary politics and regulation system. Findings: Monitoring the effects and the consequences of the crisis it could be stated that it considerably remade the cash and capital market, and their regulation, risk valuation consequently new products appreared throughout on the market. The crisis had an important selective effect, too. Many of the companies having instable economic background became bankrupt thus it could be stated that those which survived and adjusted to the changed economic milieu have safer economic operation. The crisis did not only shaken the business sphere but it had great influence on the privale sphere, households, too.

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