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A propósito de la crisis financiera actual

Author

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  • Antonio Torrero Mañas

    (Universidad de Alcalá)

Abstract

The financial crisis that has already settled in our society began with the activities performed in the USA by the financial entities that conceived and innovated new financial products in order to move and socialize their risks to the rest of the system. Globalization has allowed these risks to spread all over the planet and the problem is the acute ignorance of the actual situation in the balances of the financial entities. This has caused a general distrust and a lack of liquidity in the inter-banking market. This article reviews whether the revolution taking place in the finance field is framed in an environment where refinement, sophistication and trust, as they suggest a greater capacity to predict the future, are not unleashing a systematic increase in the tendency of risk that may end up in financial-economic crisis episodes of such a dimension that may exceed the possibility of control by the authorities.

Suggested Citation

  • Antonio Torrero Mañas, 2007. "A propósito de la crisis financiera actual," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 66(03), pages 82-91.
    • Handle: RePEc:ekz:ekonoz:2007304
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    More about this item

    Keywords

    financial crisis; Great Depression; technology bubble;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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