Financial Stability and Instability Presented by the Example of Sub Prime Crisis

Agnes Csiszarik-Kocsir, Erzsébet Elek Dr. (), Mónika Fodor () and Erika Varga ()
Additional contact information
Erzsébet Elek Dr.: Budapest Tech, VMI
Mónika Fodor: Károly Róbert College
Erika Varga: Károly Róbert College

A chapter in 6th International Conference on Management, Enterprise and Benchmarking MEB 2008-Proceedings, 2008, pp 253-261 from Óbuda University, Keleti Faculty of Business and Management

Abstract: The millennium created a great number of favourable conditions for the American economy. There was economic prsperity, the participants were optimistic, which was further enhanced by the optimisim of the fiscal and monetary authorities. These factors resulted in a very quick rise in the demand for real estate, a boom in the real estate price and in addition, the prosperity of the mortgage market. The low global level of interest made application for different types of mortgages possible for many people. This practice of granting credit lasted till 2007 when the real estate market bubble blown so huge in the previous years and was born and kept alive by the careless interest placement practice of credit institutions burst. The objective of our paper is to present the unstable state of financial instability through the example of the crisis of the American mortgage market by hihglighting the main reasons and arguments that generated and kept up the crisis. During the making of the study we relied on the most up-to-date sources to make a true picture of the present state of the crisis.

Keywords: crisis; Minsky theory; global effects; Hungarian effects (search for similar items in EconPapers)
Date: 2008
ISBN: 9789637154737
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://kgk.uni-obuda.hu/sites/default/files/21_Csiszarik.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://kgk.uni-obuda.hu/sites/default/files/21_Csiszarik.pdf [301 Moved Permanently]--> https://kgk.uni-obuda.hu/sites/default/files/21_Csiszarik.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:pkk:meb008:253-261

Access Statistics for this chapter

More chapters in Proceedings-6th International Conference on Management, Enterprise and Benchmarking (MEB 2008) from Óbuda University, Keleti Faculty of Business and Management Contact information at EDIRC.
Bibliographic data for series maintained by Alexandra Vécsey ( this e-mail address is bad, please contact ).