The Global Crisis: Causes and Main Theoretical Explanations

Orlando Justo and Juan Santarcángelo ()

Chapter 2 in Latin America after the Financial Crisis, 2016, pp 5-32 from Palgrave Macmillan

Abstract: Abstract The effects of the sub-prime global financial crisis have had devastating economic consequences worldwide. The bursting of the housing bubble in the United States began in 2007 and quickly spread to most of the developed countries of the world, later arriving in many developing countries. Looking at the 30 most advanced capitalist economies members of the Organization of Economic Cooperation and Development (OECD), the drop in output and income due to the crisis was 6.5% in 2009 (Roberts, 2009: 1). The ultimate outcome was the collapse of significant financial institutions, and more importantly, a major adjustment of financial corporations and the stock market.

Keywords: Global Financial Crisis; Real Estate Market; Capital Inflow; Current Crisis; Federal Fund Rate (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:pslchp:978-1-137-48662-2_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137486622

DOI: 10.1057/9781137486622_2

Access Statistics for this chapter

More chapters in Palgrave Studies in Latin American Heterodox Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().