The Effects of The Financial Crisis of 2008 on the UK Economic Growth Dissertation

The Effects of The Financial Crisis of 2008 on the UK Economic Growth - Dissertation Example The author of the essay "The Effects of The Financial Crisis of 2008 on the UK Economic Growth" begins with short abstract and introduction. The author mentions that the financial crisis of 2008, also known as the great recession is considered by a number of economists as being the worst financial crisis after the Great Depression in 1930. Leading to the collapse of a number of financial institutions, bailout of banks and downfall in the stock markets it reflected through the growth and development of many of the advanced, developing and underdeveloped nations of the world. It significantly hit the housing market of nations, resulted in many evictions and foreclosures and high and prolonged unemployment too. The present project seeks to bring forth the impacts of the financial crisis on the economic growth of United Kingdom. Economic activity in the United Kingdom faced a downfall during the first half of 2008 and finally came to a standstill till its end. Initially a small stimulus was provided by the government; however, with the gathering momentum of the financial crisis, UK’s labor market dramatically weakened finally leading to a considerable extent of unemployment. The project seeks to bring forth the evaluation of the financial crisis of 2008 on the economic growth of United Kingdom. In the end, the author sums up that even though the fall in employment levels during the crisis of 2008 was much lower compared to the previous phases of recession, the impact on the nation’s growth was found to be significant.