Financial crises: causes, consequences, and prevention options

Konstantin E. Volkov
Additional contact information
Konstantin E. Volkov: Moscow University of Finance and Law

Economic Consultant, 2024, issue 1, 34-46

Abstract: Introduction. The relevance of the article lies in the fact that analyzing th e effects of financial crises on the economy, finance, labor market, and so cial sphere enables governments and central banks to develop more informed and effective economic policies. This article aims to examine the causes, consequences, and potential solutions to preventing financial crises. Materials and methods. The research methodology involves the study of relevant Internet resources related to the topic, followed by synthesizing and generalizing their findings. Results. Financial crises are an integral phase in the development of economic relations, both within individual countries and globally. The causes of financial crises can be explained through specific theoretical frameworks that take into account modern economic phenomena. Typically, crises result from the introduction of new financial instruments, methods, and management practices. To mitigate their negative impacts, an integrated approach is essential, incorporating preventive measures at both national and corporate levels. Conclusion. The findings of this study can inform the development of methods and recommendations for preventing financial crises, tailored to current economic conditions, and can be applied in educational settings. Prospects for further research include analyzing the dynamics and specifics of financial crisis development, identifying key stages in their progression, and forecasting their occurrence in specific economic sectors.

Keywords: financial crises; causes of economic crises; unemployment; market failure; risk management; conseque (search for similar items in EconPapers)
JEL-codes: G01 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://statecounsellor.wordpress.com/wp-content/uploads/2025/07/pdf_240103.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:ris:statec:021445

DOI: 10.46224/ecoc.2024.1.3

Access Statistics for this article

Economic Consultant is currently edited by Roman I. Ostapenko

More articles in Economic Consultant from Scientific and Educational Initiative LLC
Bibliographic data for series maintained by Roman I. Ostapenko ().