Causes of Global Financial Crises and Regulation-Failure

Příčiny globální finanční krize a selhání regulace

Petr Musílek

Český finanční a účetní časopis, 2008, vol. 2008, issue 4, 6-20

Abstract: Global financial crisis is a sharp, brief, ultracyclical deterioration of all or most of a group of financial indicators - illiquidity, financial insolvencies, rate of returns, asset prices, financial institutions failures, and rush out of the real or long-term financial asset into money. Current global financial crisis includes credit crisis, liquidity crisis and investment crisis. We can identify these causes as follows: real estate bubble, credit overexpansion, overspeculation, financial panic, regulation-failure, and imperfect institutional arrangement of global financial market.

Keywords: Global financial crisis; Credit crisis; Real estate crisis; Globální finanční krize; Úvěrová krize; Nemovitostní krize (search for similar items in EconPapers)
JEL-codes: E44 G10 (search for similar items in EconPapers)
Date: 2008
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DOI: 10.18267/j.cfuc.285

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