The origins of the sub-prime crisis: Inappropriate policies, regulations, or both?

Mervyn K. Lewis

Accounting forum, 2009, vol. 33, issue 2, 114-126

Abstract: This article analyses the origins of the sub-prime crisis. It argues that a series of serious policy errors in the United States created the conditions in which the sub-prime lending phenomenon took root, which were then compounded by regulatory developments and further policy mistakes as the credit crisis unfolded. These factors further explain why the sub-prime crisis assumed such global proportions.

Keywords: Global financial crisis; Sub-prime mortgages; US current account deficit; Greenspan monetary policy; Shadow banking system; Collateralised debt obligations (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:accfor:v:33:y:2009:i:2:p:114-126

DOI: 10.1016/j.accfor.2009.04.001

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