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The current international financial crisis in 10 questions: some lessons


  • Fredj Jawadi
  • Mohamed Hedi Arouri


This article aims to explore the most important sources and implications of the current international financial downturn, while analyzing and discussing a recently published book on finance by Professor Michel Aglietta, written in 2008, in which the author expands on the sources of the current international financial crisis and suggests several possible solutions. In particular, while analyzing Aglietta's answers to 10 questions, we examine, firstly, the most important microeconomic sources (i.e. governance problems, market imperfections, audit and new international financial reporting standard limitations) and macroeconomic explanations (i.e. the impact of the Asian crisis and the development of emerging models) for the current financial downturn. We then investigate the most notable features and characteristics of the current crisis. Finally, we identify the most widely expected economic, social, political and geopolitical outcomes of the present market turmoil and explain what we expect the financial world to look like once the crisis is over.

Suggested Citation

  • Fredj Jawadi & Mohamed Hedi Arouri, 2011. "The current international financial crisis in 10 questions: some lessons," Applied Economics Letters, Taylor & Francis Journals, vol. 18(3), pages 279-283.
  • Handle: RePEc:taf:apeclt:v:18:y:2011:i:3:p:279-283
    DOI: 10.1080/13504851003614104

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    Cited by:

    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Is the 2007 U.S. Sub-Prime Financial Crisis So Different? An International Historical Comparison," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(3), pages 291-299, September.

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