The Crash of 1982

Ryan C. Smith ()

Chapter Chapter 10 in The Real Oil Shock, 2022, pp 199-215 from Springer

Abstract: Abstract As political tensions escalated significant indicators of growing economic weakness were accumulating. This was in sharp contrast to the largely positive views of the Middle East’s economy presented by the economic and business press. Such overestimations of stability and investment potential left financial actors ill-prepared for the crisis that was brewing in the top generators of petrocapital. Their collapse would trigger a larger implosion of liquid capital entering financial markets, depriving borrowers and lenders of resources just as higher interest rates and commodity prices were depressing the global capitalist economy.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-07131-7_10

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DOI: 10.1007/978-3-031-07131-7_10

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