This project aimed at getting the true picture of what happened during the global recession of 2007-2009 and how the investors reacted to it. It focuses on the causes of the recession in terms of whether it was the government policies on financial services or market forces. Investor behaviour during the recession period was important to this study and it was the core of the research work. In order to understand the behaviour of investors during the recession period, the research approaches secondary research to acquire its data and findings. From the data, these investors were active throughout the global recession period, and they suffered the effects of the situation back then. They were thus the best-placed respondents for a survey that aimed at knowing investor behaviour during the global recession of 2007 to 2009. The use of desktop research was aimed at getting a second-hand feel of direct answers from investors to make the analysis reliable.
The study found out that most investors were affected by the economic meltdown in 2007 and they were caught unawares. They only reacted to a situation that they had not foreseen in the first place. Most of the investors in the securities sector withdrew from the business as the market was dwindling. The housing sector was the hardest hit by the recession and it was a major cause of the problem. Investors blamed the housing policy for creating an economic bubble, which burst and led to the slowdown in the GDP. 49 out of 94 respondents claimed that the government was responsible for the recession, while the rest believed that the market forces were responsible. This shows that the government policy of credit reduction to enhance housing affordability played a role in the global recession.
Table of Contents
Critical Evaluation and Analysis. 9
The Business Case and the Environment 9
Project Aim and Objectives
The aim of this project is to find out the effects of the global recession on the behaviour of investors in business today. Globalization is the newest business platform and the largest available today, with more investors going across borders. In the process of going across the borders, investors are exposed to various macro-environmental factors in the market. Different countries have varying economic levels of development. This paper looks at the global economy as a single marketplace where there are similar effects from the macro environment. Economic recession affects many parts of the world at the same time, meaning that investors are under similar problems. By looking at the effects of recession on investors worldwide, this paper will be able to shed more light on a topic that has few literature works. Therefore, this paper will contribute towards the understanding of the negativities of global recession on the behaviour of investors.
The importance of economic development and stability will be discussed in this paper. This will be in relation to the decisions that investors make regarding the current economic status. This paper aims at looking for this information from investors who are currently investing or were investing during the recent global recession period. This information would be of use in the discussion of the topic, and it will help in making conclusions. It is the aim of this study to contribute towards similar academic discussions on the topic of investor behaviour and global recession.
To find out how the global recession affects investor behaviour
- To determine the causes of global recession
- To determine the effects of the global recession on economic development
- To determine the effects of the global recession on decisions made by investors
This project is going to use a secondary research via desktop research to get answers to questions that are important to this research. The desktop or secondary research will search information on investors in different fields, including real estate and other forms of investment like in jewellery. The secondary research approach will be based on scenarios where it would have been previously deemed that the respondents had been asked direct questions that were succinct but to the point. Therefore, the research’s information will be purely from credible sources such as books, peer-reviewed journals, etc. This method ensures that for any secondary source used, they must be credible for academic and research purposes.
The data that was retrieved from the secondary sources was used to analyse the results from a hypothetical actual scenario in order to give the study a reliable point of argument. The data gathered, therefore, was presented in the form of graphs, tables and charts to enhance an understanding of the findings. These findings were related to the topic of this research work in various ways. The questions posed at any level during this desktop research were related to the objectives of this study in various ways. This was to enhance the originality of this work and bring out a new solution to the discussions related to this topic from the researcher’s point of view. The success of any research is to ensure that the results are original and provide a solution to the study objectives. This approach was taken by the researcher to enhance the success of this research work.
A global recession is usually a period where there is an economic slowdown in the entire world (Yang, 2012, p.211). There are many times when the global economy is not doing well, but there are specific times when it is too slow. The International Monetary Fund looks at how fast the global GDP is growing and notes whether there is a notable economic recession or not. Global recessions occur under rare circumstances, but when they do, the effects are so much that the entire world feels it. The global recession of 2007 to 2009 was one of the worst times since the great depression in the 20th century (Kaushal, 2010, p.105). It started with the United States with a sudden set of negative reports in the financial systems (Briguglio and Piccinino, 2012, p. 184). The markets were not responding in the normal way and services, and goods slumped in prices to the extremes (Nabli, 2011, p.27). The effects of the global recession spilled into other countries in Europe before affecting other parts of the world.
Global recession affects many parts of the economy and the poorest people usually suffer the most as they feel the pinch the most. The Developing nations were the most affected by the global recession (World Bank and IMF, 2009, P.167). The factor that leads to a total turn of events is the shock that is brought by the economic recessions. The 2008 recession happened in a quick manner and found many people unprepared for all the eventualities that come with it (Yi and Johnson, 2010). The banks were not ready to lend in abundance at the beginning of the recession and governments were busy trying to keep their valuable companies in the business. Financial packages were given to companies in a bid to enhance their performance in the market.
The global recession of 2008 to 2009 was tough on the economy, affecting both the investor and the client. Businesses were not able to operate as perfectly as possible as the prices had to stay high while the PPP was down (Dwivedi, 2010, pp.453-454). With a low purchasing power, there it should be difficult for businesses to make profits, and many enterprises ended up shutting down. The dilemma during the economic recession was to save the people while also saving the market players. The demand for financial assistance during global recession in the US and parts of Europe was high. The banks were overwhelmed and governments had to provide economic stimulus packages to correct the situation. Everything was headed for the negative and it was not conducive to do business in the hit countries around the globe.
Investor behaviour during the global recession was under the effect of an abrupt change in the global economy. Investors were in a state of shock during the global recession and many did not know the right way out or had not decided on a perfect solution. One thing that many investors did during the economic recession was to reduce financial risks as much as possible (Sharma and Pandey, 2010, p.2). The loss of faith in the economy usually leads to clients spending less on the market. The result of this is that there will be little to attain from doing business, thus a falling GDP. This is how the global economic crisis of 2007 escalated and spread to other parts of the world. However, before this, there was a perfect economy, which seemed to be promising investor a bright future. The US economy was strong during the period that came before the global recession (Cynamon, Fazzari and Setterfield, 2013, p.8).
A perfect economic growth in the period before the economic recession led the investors to make a great mistake. They became over-confident in their investments. They were acquiring property and busy trading their shares via the stock market. Investors were acquiring property and trading in anticipation of higher price values due to the improving global economy. During that period, the rating of securities was going up and the future was getting brighter for the investors by the day. The credit ratings during the period before the global recession showed that everything was all right prompting investors to act in an overconfident manner (LaBrosse, Olivares-Caminal, and Singh, 2011, p.4). This overconfidence led to unpreparedness, and when the economic recession hit, there was a shock (Higgins, 2013). Making decisions based on past records was a dangerous thing to do for the investors. It was also the behaviour of many investors to take part in mutual fund management, which made them act in a collective manner. Collective thinking led to the generalisation of facts, which enhanced the vulnerability of each investor in the event of the global recession.
Securities during the global recession period became complex with time. However, inattentive investors were too busy looking at projections to see the main picture of the situation. The problem was that the agencies responsible for rating credit were misguiding the investors by overrating the credits (LaBrosse, Olivares-Caminal, and Singh, 2011, p.4). This made the investors only look at other things and pay little attention to the effects of a negative eventuality.
The effects of the global recession on the economy were against the normal operations for investors. Prices were falling and stock prices too followed the suit (O.E.C.D.D, 2013, P.31). Banks started cutting down their interest rates to enhance more borrowing. Gold prices had gone down, and this affected a large portion of investors in the United States and other parts of the world (Mirhayardi, 2013). One factor that led to certain behaviour from investors is their ability to tolerate risk and their readiness to invest in stock. The stocks were falling at the time of the recession, and this made investors worried about taking part in stock trades. Investors were getting out of the stock business for other ventures (“European Financial Review”, 2014).
Critical Evaluation and Analysis
The Business Case and the Environment
The global economy was moving very fast during the period before the recession of 2007. Economic growth was positive and investor confidence was high. Investors were willing to spend their resources in stock markets due to the positive results. Moreover, other fields of investment were doing well, including gold investment, among others. Investor confidence was high during this period and the market was expanding in a positive way. The banks were able to lend, as there was an equal demand for financial services. It was also possible for employers to hire extra labour and increase performance. The period from 2003 to 2007 saw many people being employed, and this was a sign of a growth in the economy (Bivens, Fieldhouse, Shierholz, 2013). The GDP was growing perfectly in the United States, and this was a reflection of the general financial health of the world economy. Most of the European countries had the same economic situation as that in the United States just before the global recession.
The government of the United States of America is responsible for the formation of financial policies that enhance the development of the country’s economy. This means that the political and legal environment in the American market is under the control of the government. In terms of financial laws, the Federal Reserve System is responsible for the formation of policies (White, 2009, p.116). Such policies usually target specific objectives that the lawmakers see as right. The Federal Reserve System’s policies were meant to enhance the ability of consumers to afford credit and acquire property, especially in the housing system. People were able to afford houses and borrow heavily from banks during the period that led to the economic meltdown. The government was working to reduce its interest rates as much as possible every fiscal year since 2001. Citizens were able to borrow from banks and afford houses, leading to an increase in investments in the real estate sector.
An increase in the demand for housing and the ability of people to afford housing led to negative effects on the financial lending institution. The banks found themselves offering a lot of money to consumers at low interest rates. It was almost impossible for the lending institutions to acquire profit from the lending services. In fact, the property owner ended up with a property whose value was as profitable or more than the borrowed money (White, 2009, p.115). It became difficult for the banks to sustain themselves in the market, and most of them were on the verge of a closure safe for government intervention. The situation with the banks affected many parts of the US economy. For instance, borrowing became tougher than before and investors were in a state of shock. Most of them feared to indulge in certain fields of investment due to the dread of making losses.
The economic meltdown affected the securities sector. Investors were taking their money out of the stock market and putting it in other places. The stock rates were dwindling at an alarming rate, and people were acting according to this. Banks, as major investing enterprises, were no longer able to trade in the stock markets and were constantly fighting for survival. There were rising cases of foreclosures and retrenchments, leading to an economic problem in the country. The government had taken the responsibility of enhancing investor goods instead of consumer goods. The economy was no longer able to generate its own income without the assistance of the government. This was a similar case in some European countries such as Spain and the United Kingdom, among others. Professionals term this situation as the credit bubble, where so much money provided to the consumers enhances a risk of business closure for the lender.
The investment market is usually concerned with luxury services and goods in various descriptions. For instance, investment in hotels is a way of meeting the market demand for luxury. However, market demand for luxury depends on the economy of a country, which determines the purchasing power. In the end; therefore, the banks determine the magnitude of investment in the hotel sector and other luxury investment areas. On the other hand, it is also difficult to construct a hotel without adequate finances. This implies that during the economic recession, investors were not able to build hotels. Moreover, even if they wanted to build hotels, it would be for no good due to the market situation at the time. The global recession led to a set of restrained actions by some investors in the market due to the fear of becoming illiquid. Most of them were speculative and did not take part in active investment while others dared to venture into new investment arenas.
The reduction of credit rates in order to enhance borrowing is a perfect way of improving an economy, at first. However, with time, it becomes unsustainable for the lenders to continue doing business in the same way. This situation occurred in the United States of America that led to an economic recession that the government had not expected. The reduction of credit rates started in 2001, six years earlier. The economy was growing at an impressive pace from 2003 and houses were becoming affordable with the government’s help. Other sectors of investment were doing fine and the economy was perfect. No one was expecting an abrupt collapse as the one experienced during the global recession period.
The results of the global recession were mixed up. Investors were moving up and down trying to save their money from going down with the recession. People were looking for perfect places to invest in a safe way. There were investors who did not fear making losses and continued doing business while others had to act swiftly in response to the recession. This depended on factors such as the fields of investment, among other influential things. This study gives focus to the reactions of investors during the global recession period.
Findings and Analysis
The findings of this study were those compiled from the data gathered from the secondary research. Initially, the researcher sought out random research data on various investors who operated under various fields.
The purpose of the first question in the mind of the researcher while seeking out secondary data was to determine the categories under which the research’s variable fell. The results from various data were tabulated as shown in Table 1 below:
|Main field of investment?|
Table 1: shows the investment fields of the different areas where the secondary research randomly showed individuals to belong to. Source: Various readings
As the results show, there was more data from individuals from the real estate sector than the rest of the available categories. The readings showed that respondents taking part in the securities sector were also available. Investors dealing in jewellery trade were also available in a significant number. The investors whose categories were not among the three, had to indicate the same. There were investors in fine wines, among other categories. The real estate is a strong sector in the United States due to the central role of housing and hotel business in the country. This is why there were a larger number of realtors than any other investment category, among the respondents.
From the second point of interest to the researcher, while it seemed obvious, the researcher wanted to know the extent of the effects of the global recession and whether or not there were exceptional cases. This would help in discussing the findings of this study and relating it to the objectives of the research paper. Table 2 shows the results from this study.
|Did the global recession affect your investment plans|
Table 2: the effects of the global recession on the investors. Source: Various readings
Chart 1: illustrates the findings in Table 2.
The readings show that the average of individuals surveyed in the past gave a positive answer in the first section of question two who were required to state whether they were still in the same investment field.
|If yes, are you still in the same field of investment as you were during the global recession?|
Table 3: shows the tendency of people to stay in an investment sector after recession. Source: Various readings.
According to the results found on possible reason for why certain answers were given as they were, it was deemed from past researchers that the global recession affected many investors. Investors had to move to other sectors or opt-out of the business due to the dire effects of the recession. Those who agreed that the recession affected them in a negative way stated that their properties were losing value. Investors who opted to stay in the same field stated that they were able to maintain most of their money during and after the recession. It was read that there were some investors who stated that they were just saving their money in an investment. Of specific note was an areas where an investor explained that investing in fine wines assisted in staying safe from the effects of the global recession. However, the same response stated that trading during the global recession was not profitable due to low demand and dynamic market forces.
Further research based on the objectives sought to find out from investors in the past if they had ever stated from any of the research if they could state the markets that were perfect during the global recession, and provide reasons for their arguments. The answers were different, with some stating that there was not a single safe investment market. Nevertheless, some investors believed that the fine wine industry was a safe place to store money, same as the jewellery sector. However, most of the investors from various cases tended to agree that the period of global recession was not conducive for trade.
The researcher also wanted to know whether the investors blamed market forces or the government policies for the global recession. The responses found after deep research to this question were as follows:
|What do you think caused the global recession?|
Table 4: shows the cause of the global recession, according to the respondents. Source: Various readings
Graph 1: shows the cause of the global recession according to the responses: compilation of various readings.
The findings of the graph 1 above show that many investors believed that government policies led to the great recession of 2007 to 2009. Government policies such as the reduction of borrowing rates and creation of affordable home schemes led to the recession. The banks were not able to sustain the low rates of borrowing, which prompted a housing bubble that led to the recession on bursting. Different sectors were affected in varying degrees, and the researcher wanted to know the most affected sector, from the investors themselves. The final question of this paper aimed at determining the sector that was affected so much during the global recession of 2007 to 2009.
The housing sector was stated as the worst hit during the economic recession in the United States. Many people went for home loans at low rates and this was at the expense of the banks and other lending institutions. The banks could not sustain this abnormal way of borrowing, as it was difficult to grow in terms of returns. Respondents also stated that the stocks markets were also hit by the recession, when shares started dwindling due to investor withdrawal. Some investors explained how they withdrew their investments in securities due to panic. When asked whether they would invest in the affected areas, most of the investors stated that they would.
The housing sector and the stock markets are among those that received most of the effects of the global recession (Allan, 2013). Investors in this sector were moving out, and this worsened the situation. The stock markets were failing due to the withdrawal of investors who were looking for greener pastures where their money would be safe. The result of withdrawal of investors was the retrenchment of many people, thus increasing the unemployment rates (Pym, 2009). Companies were making decisions to stay liquid until the problem is over, and this was the case in most of the affected sectors (Bukszpan, 2012). Fortunately, this research worked with investors from the real estate sector and the stock market, among others. They made up 70% of the respondents who gave their answers in this survey. Therefore, most of the answers in this research work came from the views of the majority.
Many investors seems to agree that the global recession affected their investment plans. One investor stated that the government led them on with the investment as they thought that everything was perfect. The Central Bank of the United States of America was controlling the stock market rates in order to attract investors (Shufelt, 2013). At first, the investors were attracted to the stock markets and they traded actively in it. However, when the stock markets collapsed, many investors scampered away. This was the case in many other countries including India (Tiwari and Mehrotra, 2012, p.23). One notable reaction of the investors was to get out of the equity markets, and this led to a failure in the securities trading. This failure worsened the situation and led to the spread of the effects of the recession to other sectors. Banks were no longer able to sustain themselves (Conklin, 2011, p.120). This affected the financial services sector and augmented financial risks in business.
The fine wine industry was said to be at ease during the recession, and investors thought that the sector was safer than the rest. The industry was making progress even when the other sectors were facing a difficult financial time. The respondents stated that the wine industry was an assurance of future value as wine appreciates with time. The sector was thus standing out as a fortress during the recession, though it was barely on its feet during that time (Franson, 2014). Development in the fine wine sector was slow but this was still positive as compared with the other sectors such as the stock markets. There was a little focus on this market and investors joined in to save their fortunes for future use. Therefore, the investors might have been right to state that the wine industry was a refuge during the recession period, even though it was also on the edges.
The major factor that led to the global recession was the government’s approach towards the financial services sector (Doern, Stoney and Carleton University, 2010, p.120). The government was regulating the financial services sectors to ensure that citizens were able to access finances for development purposes (Harvey, 2012). This was a good idea at first, and it led to an exponential growth in GDP since 2003. The respondents agreed in majority that the government played a major role towards the occurrence of the global recession, even though this did not occur directly. The government’s policy of access to credit and housing finance led to the housing bubble in the United States of America. The participation of investors in the stock markets went down due to the inability of banks to support the stock markets. The rates were low and the business was more of a risk than an opportunity. The respondents stated that market forces only worsened a situation that the government ignited in the first place.
Some of the investors who stated that the market forces led to the recession had their own reasons. They stated that the over-borrowing from the market led to the economic bubble, which burst and caused the global recession. Some respondents explained that the falling of the stock markets led to the loss of confidence by investors in the market. Because of this, investors withdrew from the stock trade and left the market to fall. The purchasing power of customers usually declines when the stock market crashes (Amadeo, 2014). The stock markets determine the wealth of customers, and when this wealth is not safe, the economy is under a threat. An economy is not going to make any progress without the contribution of its customers. Therefore, the market contributed towards the development of a global economic slowdown in 2007 to 2009.
The investors agreed that the housing department suffered the most during the global recession. Some stated that the recession started because of poor policies in the housing department. The housing system is usually under an array of risks from the economy. Many countries have had problems arising from a housing bubble around the globe today, including the United Kingdom and the United States of America. Just like the United States of America, the UK also enhanced the affordability of housing by making it possible for people to access loans (“UKessays”, 2014). For instance, the housing finance known as ‘Help to Buy’ assisted many people in acquiring homes in the UK.
In conclusion, this research was able to acquire information from secondary sources on investors in various fields that affected during the global recession of 2007 to 2009. It was possible to know the places that suffered the most and those that were able to stay safe during the tough economic times. The global recession was started by the government’s policy on credit access and housing. This was meant to make housing affordable in the United States of America, and the United Kingdom, notably. The governments of the two countries were able to make housing an affordable service. However, this went out of hand and led to a housing bubble that resulted in the economic meltdown. The US, being the biggest economy in the world, affects the global financial health in many ways. This is why its downfall led to a global recession in 2007 to 2009.
There are many lessons that come from this research. One lesson is that a government-driven financial sector may enhance access to services. However, this also results in an economic bubble, which might be mistaken for a peaceful economic growth. Just like a bubble, no one can tell when the economic bubble would burst. It is only after the bubble bursts that the markets start reacting to it. In most cases, it is usually too late for the government or the market players to salvage the situation quickly enough. By the time the situation is under control, so much would have gone under the bridge and many lessons learnt.
The economic crisis led to many losses in the global economy. The government and other stakeholders responded, but in a reactive than a proactive fashion. The latter option could have been the best, and it was possible to do it. Nevertheless, the best advice now would be to warn against future recessions. They are on their way, and the best way to act is by avoiding situations that may lead to them. For example, it is important that the government left the market to shape itself, especially in connection with the financial services sector. Instead of the government trying to reduce the credit rates, it should enhance the GDP in other ways such as job creation. This approach will make it easy for the market to run on its own without government support. A market that operates using the support of the government is usually vulnerable to economic meltdowns.
This study looked investors’ take on the global recession and how they behaved during an economic slowdown. However, the information that the secondary research provided were based on the respondents’ opinions from different readings and a myriad of case studies. Future research needs to look at the evidence that supports the actual claims of the respondents. Moreover, this research laid its focus on three categories of investment and categorised the rest under ‘others’, due to time constraints. However, it would be important to involve extra categories to enhance the results of future research works and probably indoctrinate primary research at some point in time. This way, the findings would be broader and cover a greater picture.
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- When assigning your order, we match the paper’s discipline with the writer’s field/specialization. Since all our writers are graduates, we match the paper’s subject with the field the writer studied. For instance, if it’s a nursing paper, only a nursing graduate and writer will handle it. Furthermore, all our writers have academic writing experience and top-notch research skills.
- We have a quality assurance that reviews the paper before it gets to you. As such, we ensure that you get a paper that meets the required standard and will most definitely make the grade.
In the event that you don’t like your paper:
- The writer will revise the paper up to your pleasing. You have unlimited revisions. You simply need to highlight what specifically you don’t like about the paper, and the writer will make the amendments. The paper will be revised until you are satisfied. Revisions are free of charge
- We will have a different writer write the paper from scratch.
- Last resort, if the above does not work, we will refund your money.
Will the professor find out I didn’t write the paper myself?
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
What if the paper is plagiarized?
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
When will I get my paper?
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
Will anyone find out that I used your services?
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
How our Assignment Help Service Works
1. Place an order
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
2. Pay for the order
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
3. Track the progress
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
4. Download the paper
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!