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The 1997 And 2008 Financial Crises Causes And Consequences Compared

Author

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  • Pierre CHABAL

    (Le Havre University France)

Abstract

The article focuses on the evolution of two crises based on several decades of deregulation, speculation, privatisation and financialisation, logically connected with a gradual, but certain recess of controls over the financial economy. Solutions and crisismanagement went from (possible?) system-maintenance to (indispensable!) systemrefounding; from the industrial revolution-type of liberalism to the postmodernist-type of interventionism. One of the conclusions is that beyond the ‘de-economisation’ of the world lies its possible‘re-politisation’.

Suggested Citation

  • Pierre CHABAL, 2013. "The 1997 And 2008 Financial Crises Causes And Consequences Compared," Public Administration and Reginal Studies, "Dunarea de Jos" University of Galati, Faculty of Juridical, Social and Political Sciences, issue 2, pages 5-14.
  • Handle: RePEc:ddj:parsro:y:2013:i:2:p:5-14
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    File URL: http://www.pars.fsjsp.ugal.ro/pdf/2-2013/2(12)2013-1.pdf
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    References listed on IDEAS

    as
    1. Marcus Noland & Li-Gang Liu & Sherman Robinson, 1998. "Global Economic Effects of the Asian Currency Devaluations," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa56.
    2. Stiglitz, Joseph E, 1996. "Some Lessons from the East Asian Miracle," World Bank Research Observer, World Bank Group, vol. 11(2), pages 151-177, August.
    3. Pettis, Michael, 2001. "The Volatility Machine: Emerging Economies and the Threat of Financial Collapse," OUP Catalogue, Oxford University Press, number 9780195143300.
    4. Steven Radelet & Jeffrey Sachs, 1998. "The Onset of the East Asian Financial Crisis," NBER Working Papers 6680, National Bureau of Economic Research, Inc.
    5. Steven Radelet & Jeffrey D. Sachs, 1998. "The East Asian Financial Crisis: Diagnosis, Remedies, Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 1-90.
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    Keywords

    crises; interventionism; financial; policy;

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