Economic shock

(redirected from Economic Shocks)

Economic shock

Events that impact the economy which originate from outside it. They are unexpected and unpredictable (e.g., Hurricane Andrew in 1991, the rise in oil prices by OPEC).

Economic Shock

An event that can cause a sudden, drastic change in an economy. For example, if it were suddenly discovered that there is no more oil in the world, this would cause economic shock, causing prices to skyrocket. Likewise, if the technology was developed to make oil obsolete and was announced with no notice, it would cause an economic shock in the other direction. An economic shock can be either positive or negative; likewise, it can be temporary or permanent. See also: Price in.
References in periodicals archive ?
The governor of the Reserve Bank of Australia (RBA), Philip Lowe, has said that political shocks are turning into economic shocks.
Moving forward, ADB is committed to providing wide-ranging support to strengthen Pakistan's economy and reduce the risk of external economic shocks.' Supported by the International Monetary Fund, ADB, and other development partners, the government has now committed to a range of structural reforms to the country's trade environment to improve its export performance, reduce the current account deficit, and drive economic growth.
The decision was announced in a decree signed by the President of Uzbekistan, Shavkat Mirziyoyev, on July 10 and is a part of a series of comprehensive energy sector reforms underway in Uzbekistan to strengthen the country's resilience to external economic shocks and increase economic growth.
He further noted that there is still more to be done to build an economy that is strong enough to withstand global economic shocks, stressing the need for stakeholders to support the bank's efforts at building a stable system in the interest of the country.
THE UK's top 50 law firms hold on average cash for just three week's wages, leaving them vulnerable to economic shocks.
KARACHI -- Sindh government has launched cash transfer scheme to mitigate the effects of increasing prices of essential commodities and economic shocks. During the current financial year, Rs 4.2 billion are being disbursed as cash transfer amongst chronically poor that have been identified by Benazir Income Support Program, according to Sindh budget document.
Addressing the opening sitting of Promotion of Financial Stability and Switching to Electronic Payment Systems Forum Tuesday in Corinthia Hotel in Khartoum, organized by the Union of Arab Banks in coordination with Union of Sudanese Banks, Mutaz explained that financial governance is a key aspect for financial stability , accounting systems, and early warning system as well as for confronting the economic shocks .
But even if middle income families have greater financial security than poor and low-income families, they may still be vulnerable to economic shocks as they face issues in housing, clean water supply and low access to social services.
He said: "We have seen a number of economic shocks to the Dumfries and Galloway economy.
It is worth mentioning that BISP has recently outlined its plans for a comprehensive social protection strategy aimed at protecting the poor from economic shocks.
There are many Pakistanis that are vulnerable to economic shocks and this service targets them to ensure the next generation's education is ongoing and secure.
The World Bank defines resilience as the ability of a nation's economy to resist economic shocks and to recover quickly when those shocks occur.