The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global gross domestic product contracted, and this contraction was accompanied by weakening of other key indicators of global...

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global GDP contracted, and this contraction was accompanied by weakening of other key indicators of global economic activity....

The financial crisis that began in the US in the year 2007 became a full-scale crisis in the year 2008 and 2009 which, in turn, affected each and every economy in some way or the other including the ones which were not directly related to the crisis. There has been considerable slowdown in most...