Major Events that Effected the Growth of the Economy

Major events affecting economic growth In the years following the end of World War II, the world economy had to build itself and rebuild itself. Through destruction and financial pressure, the world as a hole will be supported and developed through efforts and a stable nationalist spirit to ultimately be the best. World War II destroyed the confidence in the economic base of Europe and the ability to effectively defend themselves.

As India grabs the label of China's "fastest growing major economy in the world" (temporarily loses its label after no label) it is expected to be the main driving force for global growth I will. India is now the fifth largest economy in the world, the third largest economy that is being adjusted by PPP. India has achieved annual growth of over 7% over the next decade due to rich population dividends in India, the world's largest labor force, a growing domestic market, anticipated productivity gains, and infrastructure investment with government funds . Unlike the export-led growth model in the East and Southeast Asia, the majority of India's growth comes from a markedly growing domestic market, so the economy is not affected to some degree by global trends such as anti-globalization and nationalism.

In random trends, the impact has only a temporary impact and the economy returns to the growth path of the previous trend; conversely, if the trend is a nonstationary stochastic process, the impact will persist in the future growth path It affects. Finally, it should be noted that international trade did not return to pre-oppression levels until after the Second World War. As of the end of the 1930s, the rise in trade costs in the 1930s seems to have "sustained" about a 30% decrease in the ratio of total trade (imports and exports) to income of developed countries. According to the tradition of Frankel and Romer (1999), the latest research on the impact of trade on income levels affects capital stock and TFP (not a welfare triangle) and lowers per capita GDP over the long term there is a possibility. About 15%

Growth prospects are susceptible to external shocks such as falling commodity prices and changes in international financial conditions. Events that may cause these effects include trade protectionism, slowing economic growth in China, or increasing uncertainty in the financial viability of other emerging economies. The economy is also faced with natural hazards, including frequent weather phenomena such as the El Niño phenomenon. In response to these risks, the Peru economy set currencies, exchange rates and fiscal buffers to mitigate its impact.