PROCESS OF ECONOMIC POLICYMAKING IN U.S. RECESSION ERA: 2007-2009

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Abstract

Economic recession is considered as a repeatable and constant phenomenon in capitalist economy. Countries which experienced rapid economic growth have inevitably applied a balancing program after that. Generally, whenever industrial, financial and commercial developments occurred in a rapid growth, the reverse and changing processes would appear. Consequently, they will affect the financial and international trade market.
In the mid-1990s, global economy has faced different situations from the limited recession to the recovery or reconstruction period. Among the industrial countries, those which have not enough trends to activate economy with productive approach have had a severe recession. In other words, the United States and European countries help global financial economy.

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