AbstractCrisis prevention is never an easy task and past experiences tell us that great turbulences may come in many different forms. As for the present global crisis, its inception was a mixture of errors of economic policy, of greed on the part many creditors and borrowers across the world and of inadequate financial supervision from many agencies. This paper tries to pinpoint the roots of the crisis but it goes beyond that, for there is always an aftermath of the shock that has profound effects in the world economic fabric, effects which have to be pondered over to understand the range of the meltdown and the huge problems that lie ahead.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 35879.
Date of creation: Dec 2010
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Meltdown; Sovereign debt; Financial regulation; Financial capitalism;
Find related papers by JEL classification:
- G01 - Financial Economics - - General - - - Financial Crises
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- Douglas W. Elmendorf & N. Gregory Mankiw, 1998.
Finance and Economics Discussion Series
1998-09, Board of Governors of the Federal Reserve System (U.S.).
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