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Functional overview of financial crises development and propagation

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  • Popa, Catalin C.

Abstract

The U.S. sub-prime crise developed in the last few months as a dangerous syncope for the entire international financial system, recall for the rethinking of market functionality, revealing the international institutional weakness in financial system supervision on global scale. The mortgage volatility induced by the international dereglementation and derivates contemporary burst, correlated with a relaxed supervision framework, transformed progressively the credit market into a system “bubble”, making possible the distortion of real estates values toward those levels forced by creditors. Throughout a weakness chain, many financial institutions, determined by a savage competition on this sector, left away the prudence and borrowed money from different investors, guarantying the long terms transactions, with short time derivates from speculative short-term market, supplying the bubble. In this context, the paperwork is meant to recall for reinventing the risks models, so that the crises to be anticipated earlier than its development moment.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 18980.

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Date of creation: 19 Jan 2009
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Publication status: Published in KBO Journal 1.1(2009): pp. 112-118
Handle: RePEc:pra:mprapa:18980

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Keywords: globalization; financial crise; global economy; monetary system; international management;

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  1. Michel Aglietta, 2000. "The International Monetary Fund and the International Financial Architecture," Working Papers, CEPII research center 2000-08, CEPII research center.
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