A propósito de la crisis financiera actual

Antonio Torrero Mañas
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Antonio Torrero Mañas: Universidad de Alcalá

EKONOMIAZ. Revista vasca de Economía, 2007, vol. 66, issue 03, 82-91

Abstract: The financial crisis that has already settled in our society began with the activities performed in the USA by the financial entities that conceived and innovated new financial products in order to move and socialize their risks to the rest of the system. Globalization has allowed these risks to spread all over the planet and the problem is the acute ignorance of the actual situation in the balances of the financial entities. This has caused a general distrust and a lack of liquidity in the inter-banking market. This article reviews whether the revolution taking place in the finance field is framed in an environment where refinement, sophistication and trust, as they suggest a greater capacity to predict the future, are not unleashing a systematic increase in the tendency of risk that may end up in financial-economic crisis episodes of such a dimension that may exceed the possibility of control by the authorities.

Keywords: financial crisis; Great Depression; technology bubble (search for similar items in EconPapers)
JEL-codes: E58 G15 O16 (search for similar items in EconPapers)
Date: 2007
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