Financial Crises Explanations Types And Implications

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Financial Crises Explanations, Types, and Implications

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Author : Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 147557908X
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)

Book Synopsis Financial Crises Explanations, Types, and Implications by : Stijn Claessens

Download or read book Financial Crises Explanations, Types, and Implications written by Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Financial Crises

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Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475543409
Total Pages : 670 pages
Book Rating : 4.4/5 (755 download)

Book Synopsis Financial Crises by : Mr.Stijn Claessens

Download or read book Financial Crises written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 670 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

Financial Crises: Causes, Consequences, and Policy Responses

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Author : Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1484355261
Total Pages : 669 pages
Book Rating : 4.4/5 (843 download)

Book Synopsis Financial Crises: Causes, Consequences, and Policy Responses by : Stijn Claessens

Download or read book Financial Crises: Causes, Consequences, and Policy Responses written by Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 669 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned. The book covers a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries are discussed. The medium-term effects of financial crises on economic growth, as well as policy measures to prevent booms, mitigate busts, and avoid crises are analyzed. Finally, policy measures for mitigating the adverse impact of crises and ways to restructure banks, households, and sovereigns are presented. The collection of research in this book provides an excellent overview of critical policy areas, with valuable lessons on how countries can better monitor their economies and financial systems.

The Global Financial Crisis

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Author : Dick K. Nanto
Publisher : DIANE Publishing
ISBN 13 : 1437919847
Total Pages : 127 pages
Book Rating : 4.4/5 (379 download)

Book Synopsis The Global Financial Crisis by : Dick K. Nanto

Download or read book The Global Financial Crisis written by Dick K. Nanto and published by DIANE Publishing. This book was released on 2009 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.

The Financial Crisis Inquiry Report, Authorized Edition

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Author : Financial Crisis Inquiry Commission
Publisher : Public Affairs
ISBN 13 : 1610390415
Total Pages : 578 pages
Book Rating : 4.6/5 (13 download)

Book Synopsis The Financial Crisis Inquiry Report, Authorized Edition by : Financial Crisis Inquiry Commission

Download or read book The Financial Crisis Inquiry Report, Authorized Edition written by Financial Crisis Inquiry Commission and published by Public Affairs. This book was released on 2011-01-27 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the causes of the financial crisis that began in 2008 and reveals the weaknesses found in financial regulation, excessive borrowing, and breaches in accountability.

Misunderstanding Financial Crises

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Author : Gary B. Gorton
Publisher : Oxford University Press
ISBN 13 : 0199986886
Total Pages : 296 pages
Book Rating : 4.1/5 (999 download)

Book Synopsis Misunderstanding Financial Crises by : Gary B. Gorton

Download or read book Misunderstanding Financial Crises written by Gary B. Gorton and published by Oxford University Press. This book was released on 2012-11-02 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Before 2007, economists thought that financial crises would never happen again in the United States, that such upheavals were a thing of the past. Gary B. Gorton, a prominent expert on financial crises, argues that economists fundamentally misunderstand what they are, why they occur, and why there were none in the U.S. from 1934 to 2007. Misunderstanding Financial Crises offers a back-to-basics overview of financial crises, and shows that they are not rare, idiosyncratic events caused by a perfect storm of unconnected factors. Instead, Gorton shows how financial crises are, indeed, inherent to our financial system. Economists, Gorton writes, looked from a certain point of view and missed everything that was important: the evolution of capital markets and the banking system, the existence of new financial instruments, and the size of certain money markets like the sale and repurchase market. Comparing the so-called "Quiet Period" of 1934 to 2007, when there were no systemic crises, to the "Panic of 2007-2008," Gorton ties together key issues like bank debt and liquidity, credit booms and manias, moral hazard, and too-big-too-fail--all to illustrate the true causes of financial collapse. He argues that the successful regulation that prevented crises since 1934 did not adequately keep pace with innovation in the financial sector, due in part to the misunderstandings of economists, who assured regulators that all was well. Gorton also looks forward to offer both a better way for economists to think about markets and a description of the regulation necessary to address the future threat of financial disaster.

External Imbalances and Financial Crises

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Author : Alan Taylor
Publisher : International Monetary Fund
ISBN 13 : 1484322851
Total Pages : 18 pages
Book Rating : 4.4/5 (843 download)

Book Synopsis External Imbalances and Financial Crises by : Alan Taylor

Download or read book External Imbalances and Financial Crises written by Alan Taylor and published by International Monetary Fund. This book was released on 2013-12-20 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks within the border: it faults domestic financial systems where risks originated in excessive credit booms. We can use the lens of macroeconomic and financial history to confront these dueling hypotheses with evidence. The credit boom explanation is the most plausible predictor of crises since the late nineteenth century; global imbalances have only a weak correlation with financial distress compared to indicators drawn from the financial system itself.

This Time Is Different

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Author : Carmen M. Reinhart
Publisher : Princeton University Press
ISBN 13 : 0691152640
Total Pages : 513 pages
Book Rating : 4.6/5 (911 download)

Book Synopsis This Time Is Different by : Carmen M. Reinhart

Download or read book This Time Is Different written by Carmen M. Reinhart and published by Princeton University Press. This book was released on 2011-08-07 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: An empirical investigation of financial crises during the last 800 years.

Global Waves of Debt

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Author : M. Ayhan Kose
Publisher : World Bank Publications
ISBN 13 : 1464815453
Total Pages : 403 pages
Book Rating : 4.4/5 (648 download)

Book Synopsis Global Waves of Debt by : M. Ayhan Kose

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

The Global Financial Crisis and Its Aftermath

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Author : A. G. Malliaris
Publisher : Oxford University Press
ISBN 13 : 0199386226
Total Pages : 521 pages
Book Rating : 4.1/5 (993 download)

Book Synopsis The Global Financial Crisis and Its Aftermath by : A. G. Malliaris

Download or read book The Global Financial Crisis and Its Aftermath written by A. G. Malliaris and published by Oxford University Press. This book was released on 2016 with total page 521 pages. Available in PDF, EPUB and Kindle. Book excerpt: ... Expert contributors argue that the complexity of the Global Financial Crisis challenges researchers to offer more comprehensive explanations by extending the scope and range of their traditional investigations. To achieve this, the volume views the financial crisis simultaneously through three different lenses--economic, psychological, and social values ... They recognize how current economic analysis did not prepare academic economists, business economists, traders, and regulators to anticipate economic and financial crises ...

Explaining Financial Crises

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Author : Marc Peter Radke
Publisher : Peter Lang Pub Incorporated
ISBN 13 : 9783631543504
Total Pages : 410 pages
Book Rating : 4.5/5 (435 download)

Book Synopsis Explaining Financial Crises by : Marc Peter Radke

Download or read book Explaining Financial Crises written by Marc Peter Radke and published by Peter Lang Pub Incorporated. This book was released on 2005 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops a new theoretical approach to the explanation of systemic financial crises in industrial and emerging market countries. In contrast to standard models, the present cyclical approach is consistent with the following three stylized facts. Firstly, systemic financial crises are a recurrent phenomenon generally accompanied by excessive boom-bust cycles. Secondly, the frequency of financial crisis cycles is very irregular. Thirdly, most financial crisis cycles are initiated by positive shocks to profit expectations which induce an unsustainable build-up of financial fragility driven by irrational exuberance. The present approach is based on a sophisticated balancesheet structure with many assets, as well as on an expectation formation scheme which combines the rational expectations hypothesis with Keynes' Beauty Contest Theory.

Understanding Financial Crises

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Author : Ensar Yılmaz
Publisher : Routledge
ISBN 13 : 1000163423
Total Pages : 359 pages
Book Rating : 4.0/5 (1 download)

Book Synopsis Understanding Financial Crises by : Ensar Yılmaz

Download or read book Understanding Financial Crises written by Ensar Yılmaz and published by Routledge. This book was released on 2020-07-30 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: Incorporating a broad range of economic approaches, Understanding Financial Crises explores the merits of various arguments and theories which have been used to explain the causes of financial crises. The book explores eight of these different explanations: underconsumption, debt accumulation, financialization, income inequality, financial fragility, tendency of rate of profit to fall, human behavior, and global imbalances. The introduction provides a brief overview of each argument along with a comparison of their relative merits. Each chapter then introduces one of the arguments, explores a historical case, and focuses on the insights that can be gleaned into the global crisis in 2007–2008. The book draws on insights from various schools of thought including post-Keynesian economics, Marxist economics, behavioral economics, neoclassical economics, and more, to provide a pluralist overview of the causes of economic crises in general and the Great Recession in particular. This book marks a significant contribution to the literature on economic and financial crises, political economy and heterodox economics. It is well suited to academicians, practitioners, and financial analysts working within the relevant fields.

Modern Financial Crises

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Author : Beniamino Moro
Publisher : Springer
ISBN 13 : 3319209914
Total Pages : 257 pages
Book Rating : 4.3/5 (192 download)

Book Synopsis Modern Financial Crises by : Beniamino Moro

Download or read book Modern Financial Crises written by Beniamino Moro and published by Springer. This book was released on 2015-07-21 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is devoted to the analysis of the three main financial crises that have marked this century: 2001 Argentina’s defaulting on its external debt, the American subprime crisis in 2008, and the current European debt crisis in Europe. The book pursues three major objectives: firstly, to accurately portray these three financial crises; secondly, to analyze what went wrong with mainstream economic theory, which was unable to foresee these types of economic turmoil; and thirdly, to review macroeconomic theory, re-evaluating Keynes’ original contribution to economic analysis and pointing out the need to rebuild macroeconomics with a view to studying economic illness rather than trying to prove the non-existence of economic problems.

Financial Crises Explanations, Types, and Implications

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Author : Mr.Stijn Claessens
Publisher : International Monetary Fund
ISBN 13 : 1475561008
Total Pages : 66 pages
Book Rating : 4.4/5 (755 download)

Book Synopsis Financial Crises Explanations, Types, and Implications by : Mr.Stijn Claessens

Download or read book Financial Crises Explanations, Types, and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Lessons and Policy Implications from the Global Financial Crisis

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Author : Mr.Luc Laeven
Publisher : International Monetary Fund
ISBN 13 : 1451963025
Total Pages : 42 pages
Book Rating : 4.4/5 (519 download)

Book Synopsis Lessons and Policy Implications from the Global Financial Crisis by : Mr.Luc Laeven

Download or read book Lessons and Policy Implications from the Global Financial Crisis written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2010-02-01 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ongoing global financial crisis is rooted in a combination of factors common to previous financial crises and some new factors. The crisis has brought to light a number of deficiencies in financial regulation and architecture, particularly in the treatment of systemically important financial institutions, the assessments of systemic risks and vulnerabilities, and the resolution of financial institutions. The global nature of the financial crisis has made clear that financially integrated markets, while offering many benefits, can also pose significant risks, with large real economic consequences. Deep reforms are therefore needed to the international financial architecture to safeguard the stability of an increasingly financially integrated world.

The Global Economic System

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Author : George Chacko
Publisher : Pearson Education
ISBN 13 : 9780134119717
Total Pages : 0 pages
Book Rating : 4.1/5 (197 download)

Book Synopsis The Global Economic System by : George Chacko

Download or read book The Global Economic System written by George Chacko and published by Pearson Education. This book was released on 2011-06 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first professional-level authoritative guide to today's global financial system: how it works, how its elements fit together, and the vulnerabilities that can cause it to fail. Writing for working financial professionals and other sophisticated readers, the authors thoroughly explain the modern global credit system; the roles of banks, hedge funds, insurers, central banks, mortgage markets, and other participants; and the credit-related instruments they rely on. In particular, the authors illuminate the crucial importance of liquidity, and show why liquidity failures have been the key cause of all major market crashes for the past several decades. The Global Financial System thoroughly examines economic environments in which slow de-leveraging leads to prolonged sluggish growth, and compares today's environment to other periods of deleveraging, such as the Great Depression and the Japanese economic meltdown of the '90s and '00s. It predicts potential pathways for the current crisis, and offers essential guidance to both policymakers and investment decision-makers.

Policy Shock

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Author : Edward J. Balleisen
Publisher : Cambridge University Press
ISBN 13 : 1107140218
Total Pages : 593 pages
Book Rating : 4.1/5 (71 download)

Book Synopsis Policy Shock by : Edward J. Balleisen

Download or read book Policy Shock written by Edward J. Balleisen and published by Cambridge University Press. This book was released on 2017-11-02 with total page 593 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, compelling case studies show how past crises have reshaped regulation, and how policy-makers can learn from crises in the future.