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Financial Crises

In: FINANCIAL THEORY Perspectives from China

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  • Xingyun PENG

Abstract

As soon as we talk about a crisis, we associate it with the destruction it causes, just as we associate a crisis of marriage with the destruction it brings to families. Since the 18th century, financial crises have occurred in various ways in different periods and have caused massive destruction to economies and people's lives. Hardly had Asia stepped out from the shadow of the financial crisis of 1997 when it spread to Russia and Argentina, and disaster struck the global financial sector. In order to avoid crises, we have to know what causes them, and then take measures to avoid them.

Suggested Citation

  • Xingyun PENG, 2015. "Financial Crises," World Scientific Book Chapters, in: FINANCIAL THEORY Perspectives from China, chapter 23, pages 603-629, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781938134326_0023
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