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Sub Prime Crisis: Old and New Lessons

Author

Listed:
  • Natasa Spes
  • Sebastjan Strasek
  • Timotej Jagric

    (Faculty of Economic and Business, University of Maribor, Slovenia)

Abstract

Using generation approach we examine the genesis and mechanisms in major financial crisis and focus on the recent sub – prime crisis. We believe that in the era of increased financial globalization a reliable approach has to consider besides fundamental factors multiple equilibriums and self – fulfilling character of financial crises. In recent global crisis again financial globalization implemented in periods of high international capital mobility have reputedly produced international banking crises. Progressing integration and increasing sophistication of the product and financial markets brought new forms and more global character of the crises events in the recent sub – prime crisis.

Suggested Citation

  • Natasa Spes & Sebastjan Strasek & Timotej Jagric, 2009. "Sub Prime Crisis: Old and New Lessons," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 263-270, May.
    • Handle: RePEc:cbu:jrnlec:y:2009:v:1:p:263-270
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    References listed on IDEAS

    as
    1. Roubini, Nouriel & Brad Setser, 2004. "Bailouts or Bail-ins? Responding to Financial Crises in Emerging Economies," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 378, October.
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    More about this item

    Keywords

    financial crisis; sub-prime crisis; financial globalization; international capital; financial market;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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