Effects of Global Financial Crisis

Nastase Marian (), Alina Stefania Cretu and Roberta Stanef
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Alina Stefania Cretu: Bucharest Academy of Economic Studies, Romania
Roberta Stanef: Bucharest Academy of Economic Studies, Romania

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2009, vol. 10, issue 4, 691-699

Abstract: The financial crisis of 2007–2009 has been called the worst financial crisis since the one related to the Great Depression by leading economists, and it contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity. Many causes have been proposed, with varying weight assigned by experts. Both market-based and regulatory solutions have been implemented or are under consideration, while significant risks remain for the world economy.

Keywords: financial crisis; globalization; consumer wealth; financial markets; corporate governance. (search for similar items in EconPapers)
JEL-codes: O11 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:10:y:2009:i:4:p:691-699

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