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La crisi finanziaria globale 2008-2009

Author

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  • Carlo D’ADDA

    () (Dipartimento di Scienze Economiche, Universita' degli Studi di Bologna)

Abstract

This article addresses the origins and development of the present financial and real economic? crisis (2008-2009). It is shown how abundant liquidity and easy credit in the US housing market inflated world financial markets with credit-based bonds whose risk was largely underestimated. When the real risk of these bonds was correctly perceived it was too late. Unprecedented levels of insolvency ravaged the US and to some extent also the EU and Asian economies. Stock markets were much damaged all over the world. The way the real economy is hit by a generalized stock market fall is investigated, as is the related malfunctioning of the banking system. Problems regarding ultimate responsibility for the crisis and the necessary changes to be introduced into financial market regulation are also touched upon. Finally the likely conclusion of the crisis and prospects for the world economy in the coming years are considered.

Suggested Citation

  • Carlo D’ADDA, 2009. "La crisi finanziaria globale 2008-2009," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 117(1), pages 125-134.
  • Handle: RePEc:vep:journl:y:2009:v:117:i:1:p:125-134
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    File URL: http://riss.vitaepensiero.it/scheda-articolo_digital/c-dadda/la-crisi-finanziaria-globale-2008-2009-000518_2009_0001_0124-150934.html
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    More about this item

    Keywords

    ABS; CDS; crisis; financial crisis; global crisis; MBS; stock markets; vehicle;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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