Current Recession in UK

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ACKNOWLEDGEMENT

I am thankful to the people who have been helpful to me throughout for completing my research study and without these people by my side it would have been impossible for me to complete this dissertation. Particularly, I am grateful to my friends, family and facilitator for their helpful and extensive comments on the earlier drafts that were submitted. I am also thankful to the authors who preceded me and shared my interests. The works of other authors have provided me with a bunch of information to learn and build from and they also served as examples to imitate.

DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

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ABSTRACT

This research study is an attempt to explore the current recession in the United Kingdom. During the period 2008 and 2009, the economy was in recession with all the other major economies. The economy of the United Kingdom already experienced the decline in GDP for two quarters in the year 2008 and surveys have suggested that the contractions are declining on a continuous basis during the first half of the year 2008. In February the forecast of consensus was due to the reduction in the GDP of the United Kingdom of 2.6 percent in the year 2009. The central bank of England published projections for the year 2009, and these projections showed that the projected GDP for the year was to decline with an average of 3 percent in the same year. This research study has adopted a qualitative method for research and has conducted interviews with the concerned people and has carried out secondary research analysis using the previous researches that have been conducted on the same topic. The results of the study showed that the country is still facing the financial crisis and it requires large amount so financial injections in order to regain the previous position of its economy.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

LIST OF FGURESVII

CHAPTER 01: INTRODUCTION1

1.1. Background of the Research1

1.2. Problem Statement7

1.3. Aim and Objectives7

1.4. Research Questions8

1.5. Rationale of the Study9

1.6. Outline of the Study9

CHAPTER 02: LITERATURE REVIEW11

2.1. Introduction11

2.2. Review of Financial Crisis of 2007-200811

2.3. Global Reaction to the Financial Crisis13

2.4. Recent Recessionary Economic Events15

2.4.1. Sub Prime Mortgage Market16

2.4.2. Credit Crisis18

2.4.3. Stock Values19

2.4.4. Fuel Prices21

2.4.5. Unemployment21

2.4.6. Economic Prosperity22

2.5. Historical Recession Studies24

2.6. Real Estate and Recession28

2.7. Importance of Corporate Financing Decisions of a Firm29

CHAPTER 03: RESEARCH METHODOLOGY32

3.1. Introduction32

3.2. Research Methods32

3.3. Qualitative Research Method32

3.4. Quantitative Research Method34

3.5. Research Design35

3.6. Research Tools to Utilised36

3.6.1. Interviews36

3.6.2. Secondary Data Collection37

3.7. Search Technique38

3.8. Population and Sampling39

3.8.1 Population39

3.8.2 Sampling procedure39

3.8.3 Sampling frame39

3.8.4 Interview participants39

3.9. Rationale for Applying Qualitative Methodology Research Design40

3.10. Secondary Research41

3.11. Informed Consent41

3.12. Confidentiality42

3.13. Timelines42

3.14. Conclusion43

CHAPTER 04: DISCUSSION AND ANALYSIS44

4.1. Introduction44

4.2. Interview Analysis44

4.3. Secondary Analysis47

4.3.1. Comparisons with the Previous Recessions in the United ...