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Effects of Global Financial Crisis

Author

Listed:
  • Marian NASTASE

    () (Bucharest Academy of Economic Studies, Romania)

  • Alina Stefania CRETU

    (Bucharest Academy of Economic Studies, Romania)

  • Roberta STANEF

    (Bucharest Academy of Economic Studies, Romania)

Abstract

The financial crisis of 2007–2009 has been called the worst financial crisis since the one related to the Great Depression by leading economists, and it contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity. Many causes have been proposed, with varying weight assigned by experts. Both market-based and regulatory solutions have been implemented or are under consideration, while significant risks remain for the world economy.

Suggested Citation

  • Marian NASTASE & Alina Stefania CRETU & Roberta STANEF, 2009. "Effects of Global Financial Crisis," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(4), pages 691-699, October.
  • Handle: RePEc:rom:rmcimn:v:10:y:2009:i:4:p:691-699
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    File URL: http://www.rmci.ase.ro/no10vol4/Vol10_No4_Article9.pdf
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    References listed on IDEAS

    as
    1. Michele Fratianni & Francesco Marchionne, 2009. "The Role of Banks in the Subprime Financial Crisis," Mo.Fi.R. Working Papers 23, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    2. Markus K. Brunnermeier, 2009. "Deciphering the Liquidity and Credit Crunch 2007-2008," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 77-100, Winter.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    financial crisis; globalization; consumer wealth; financial markets; corporate governance.;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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