Global Economic Crisis of 2008-2009: Sources and Roots

G. Rapoport and A. Guerts

Voprosy Ekonomiki, 2009, issue 11

Abstract: In the article the global crisis of 2008-2009 is considered as superposition of a few regional crises that occurred simultaneously but for different reasons. However, they have something in common: developed countries tend to maintain a strong level of social security without increasing the real production output. On the one hand, this policy has resulted in trade deficit and partial destruction of market mechanisms. On the other hand, it has clashed with the desire of several oil and gas exporting countries to receive an exclusive price for their energy resources.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2009:id:945

DOI: 10.32609/0042-8736-2009-11-18-31

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