Literature Review: Global Economics Before and After the 2007 Economic Crisis

Sebastian Weißschnur ()

Chapter Chapter 4 in The Proportionality of State Intervention, 2021, pp 83-140 from Springer

Abstract: Abstract The major events that occurred in the decades prior to the 2007–2008 crisis are appraised including the emergence of securitisation, substantial changes in regulation that created freer financial markets and high market liquidity. The impact of the crisis which resulted from these changes is evaluated in relation to its severe financial effects on the banking sector in US and EU countries, the social effect of public loss of trust and new EU legislation to prevent taxpayers being responsible for bailing out Member States’ failing banks. The last two sections of this chapter evaluate the severity of the crisis generally, and in relation to specific groups of EU Member States, Northern Europe, Portugal, Ireland, Italy, Greece and Spain (PIIGS), and Eastern Europe.

Keywords: Global financial crisis 2007–2008; Economic effects; Financial effects; Crisis in Europe (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-75676-5_4

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DOI: 10.1007/978-3-030-75676-5_4

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