Effects of Global Financial Crisis

Vol:10 No.4 / 2009


Marian NĂSTASE
E-mail: nastasemarian@yahoo.com
Alina Ştefania CREŢU
Roberta STANEF
Phone:+4 021.319.19.67
The Bucharest Academy of Economic Studies, Romania


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      Abstract

      The financial crisis of 20072009 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

Pages: 691 - 699