Institutional and Behavioral Basis of the Crisis and Bankruptcy

Kamen Kamenov

Economic Thought journal, 2009, issue 7, 105-123

Abstract: It is indicated that the problems related to the financial and economic crisis are multifaceted. By focusing on the institutional and behavioral basis of the crisis and bankruptcy another one of its features is revealed – the one of the human factor behavior and the psychological reasons for the emerging of the crisis situations. It is underlined that the behavior of the market subjects during a crisis has no less significance both for going out of it, as well as for establishing market stability. The consideration of the elastic network of crisis as a last barrier before bankruptcy is enough reason to search new forms of market behavior that are in conformity with the established conditions.

JEL-codes: G33 J24 L16 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2009:i:7:p:105-123

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