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2009 | nr 3 | 1-22
Tytuł artykułu

Globalization and Evolving Nature of Financial Crises

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Warianty tytułu
Języki publikacji
The remainder of the paper is organized as follows: Section 1 discusses the Third World debt crisis, showing that government policies in both creditor and debtor countries pursued in the changing macroeconomic context provided fuel for the formation of a bubble. Section 2 looks at the East Asian financial crisis and the speed of turnaround despite huge economic welfare losses. Section 3 examines developments leading to the current crisis and provides empirical evidence that the current crisis is "made in the U.S." and has nothing to do with legendary greed or, to paraphrase Ackerlof and Schiller (2009), animal spirits. Section 4 concludes. (fragment of text)
Opis fizyczny
  • PeacePlayers International
  • University of Maryland, USA
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  • Radelet, Steven and Jeffrey Sachs (2000). "The Onset of the East Asian Financial Crisis," in Paul Krugman, ed., Currency Crises. University of Chicago Press. Chicago, IL. Pgs. 105158.
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  • Taylor, John (2009), Getting Off Track: How Government Actions and Interventions Caused, Prolonged and Worsened the Financial Crisis, Hoover Press, Stanford, CA., 2009.
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  • Watkins, Alfred J. 1986. Till Debt Do Us Part. Who wins, who loses, and who pays for the international debt crisis. University Press of America, Washington DC.
  • Woods Jr., Timothy E. 2009. Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, Regnery Publishing, Inc. Washington DC.
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