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Why Is This Financial Crisis Occurring? How To Respond To It?

Author

Listed:
  • Daianu, Daniel

    (MEP and The School of Political and Administrative Studies, Bucharest (SNSPA).)

  • Lungu, Laurian

    (Cardiff Business School)

Abstract

A combination of cyclical and structural factors has lead to a situation which could threaten financial stability worldwide. As the current financial turmoil is unfolding it becomes clearer that the effects of the initial sub-prime crisis, which originated in the US, are spreading across other asset markets worldwide, increasing the likelihood of a global credit crunch and an economic downturn. In the light of these developments there is a need for the implementation of strategies for action. This paper focuses on structural causes of the current crisis and on policy issues such as enhancing transparency, resolving conflicts of interest, incentives structures in the financial industry and, not least, improving the existing regulatory and supervisory frameworks.

Suggested Citation

  • Daianu, Daniel & Lungu, Laurian, 2008. "Why Is This Financial Crisis Occurring? How To Respond To It?," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(4), pages 59-87, December.
  • Handle: RePEc:rjr:romjef:v:5:y:2008:i:4:p:59-87
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    References listed on IDEAS

    as
    1. Emilian Dobrescu, 2006. "Integration of Macroeconomic Behavioural Relationships and the Input-output Block (Romanian Modelling Experience)," EcoMod2006 272100018, EcoMod.
    2. Dobrescu, Emilian, 2006. "Macromodel of the Romanian market economy (version 2005)," MPRA Paper 35749, University Library of Munich, Germany.
    3. Dobrescu, Emilian, 2007. "Modelling The Romanian Economy: Some Data Problems," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 4(1), pages 7-25, March.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Gheorghe VOINEA & Sorin Gabriel ANTON, 2009. "Lessons from the Current Financial Crisis. A Risk Management Approach," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 3, pages 139-147, May.
    2. DEDU Vasile & Turcan Ciprian Sebastian & Turcan Radu, 2011. "A Behavioral Approach To The Global Financial Crisis," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 340-346, December.
    3. Alenka Kavkler & Mejra Festić, 2010. "The Trade Deficit and Banking Sector Results in Romania and Bulgaria," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 12(27), pages 199-213, February.
    4. Narayan SETHI & Kalpana SAHOO & Sanhita SUCHARITA, 2013. "A Survey Of International Financial Risk Management System," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 4(4), pages 186-203, December.
    5. Magdalena Radulescu, 2009. "Economic crisis, its prospects and challenges," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 56, pages 481-488, November.
    6. Fadun, Olajide Solomon, 2017. "Corporate governance, a risk management tool for enhancing organizational performance: Study of Nigeria Stock Exchange(NSE)listed companies," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 6(4), pages 12-27, April.
    7. Korol, Tomasz & Korodi, Adrian, 2011. "An Evaluation of Effectiveness of Fuzzy Logic Model in Predicting the Business Bankruptcy," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 92-107, September.

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    More about this item

    Keywords

    Financial markets; Government Policy;

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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