International Financial Crisis and Its Political Consequences

Sedat Aybar, Uğur Özgöker and Vedat Akman
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Sedat Aybar: Kadir Has University
Uğur Özgöker: Kadir Has University
Vedat Akman: Kadir Has University

Journal of Finance Letters (Maliye ve Finans Yazıları), 2009, vol. 24, issue 83, 31-44

Abstract: This article is concerned about the roots of the global crisis that rose from the collapse of the financial markets and financial institutions in the USA. The world wide recession following this event caused G-20 countries to consider new alternative economic growth models. So, financial bankruptcy lead the way to the break- down of the production lines of real sectors from constructions to steel industry and to the textile sector, in addition to the main van- guard sector of auto industry and its complementary sectors in the USA. This whole process of contagious financial crisis became a snowball to go over the other integrative finance related ties caus- ing them to become a Giant Factor of Challenge for all the Gov- ernments in the whole world.

Keywords: Global crises; finance; financial institutions; technology; G-20; unemployment; recession; interest rate; foreign exchange rates; and new economic growth models (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:acc:malfin:v:24:y:2009:i:83:p:31-44

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