The architecture of the current international financial system

Maryse Farhi () and Marcos Antonio Macedo Cintra ()

Brazilian Journal of Political Economy, 2009, vol. 29, issue 3, 274-294

Abstract: This paper discusses some features of financial institutions and instruments which originated the financial crisis triggered by increasing default rate, household real estate and financial asset depreciation combined with U.S. subprime mortgages. The first part presents major crisis events in a chronological order. The second part describes the interconnection of the institutions and markets which engendered a global shadow financial system. The third part focuses on an overview of measures taken by government authorities and large banks to bring about possible solutions for the global financial crisis. JEL Classification: G01; G21; G24.

Keywords: financial crisis; banks; mortgages; investment banks; ratings agencies (search for similar items in EconPapers)
Date: 2009
References: Add references at CitEc
Citations:

Downloads: (external link)
https://centrodeeconomiapolitica.org.br/repojs/ind ... article/view/499/498 (application/pdf)

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:ekm:repojs:v:29:y:2009:i:3:p:274-294:id:499

Access Statistics for this article

More articles in Brazilian Journal of Political Economy from Center of Political Economy
Bibliographic data for series maintained by Brazilian Journal of Political Economy (Brazil) ().