Financial Crises: From 1929 Great Depression to 2020 Great Lockdown

Levent Sümer ()
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Levent Sümer: Boğaziçi University

Chapter Chapter 3 in The World Economy and Financial System, 2023, pp 29-52 from Springer

Abstract: Abstract Financial crises are more frequent than ever. The structure of the system is creating financial crises every decade, even in a cycle of less than a decade. Sometimes a crisis started in a country triggers a global crisis such as in the cases of the 1929 Great Depression or the 2008 Global Financial Crisis; sometimes internal economic or political decisions ignite a local or regional crisis. While some crisis starts after a war ends, some others spark a regional or a global war. This chapter defines the past financial crises including the Great Depression in 1929, the great recession in 2008, and the great lockdown in 2020, their reasons, the way they are (or not) managed, and their consequences which most of the time started another crisis.

Date: 2023
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DOI: 10.1007/978-3-031-27530-2_3

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