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Episode or Hysteresis? Some Theoretical and Policy Lessons from the Crisis of 2008

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  • Ádám Török

    (University of Pannonia, Department of International Economics, Veszprém, Hungary
    Budapest University of Technology and Economics, Department of Economics, Budapest, Hungary)

  • Boglárka Konka

    (University of Pannonia, Department of International Economics, Veszprém, Hungary)

Abstract

The post-2008 crisis seems to have come to an end in most countries, but its long-term impacts are increasingly felt by most players of the world economy. Certain economic problems were aggravated, others created by the crisis that seems to have generated significant structural and behavioral changes in most national economies and their international relations. These lasting changes are listed, and new directions for research suggested in the present paper, using an approach combining the human, the financial and the growth dimensions.

Suggested Citation

  • Ádám Török & Boglárka Konka, 2018. "Episode or Hysteresis? Some Theoretical and Policy Lessons from the Crisis of 2008," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 68(supplemen), pages 45-70, November.
    • Handle: RePEc:aka:aoecon:v:68:y:2018:i:supplement2:p:45-70
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    Cited by:

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    2. Ze, Fu & Yu, Wence & Ali, Anis & Hishan, Sanil S. & Muda, Iskandar & Khudoykulov, Khurshid, 2023. "Influence of natural resources, ICT, and financial globalization on economic growth: Evidence from G10 countries," Resources Policy, Elsevier, vol. 81(C).

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    More about this item

    Keywords

    financial crisis; growth; fiscal policy; inequalities; bounded rationality; financial integration; trade policy;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F00 - International Economics - - General - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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