Causes of the Financial Crisis

Jickling, Mark

Library of Congress. Congressional Research Service.

关键词: Financial crises;    Business cycles;    Finance;    Economic conditions;   

RP-ID  :  R40173
RP-ID  :  R40173_2010Apr09

美国|英语

来源: UNT Digital Library

【 摘 要 】

The financial crisis that began in 2007 spread and gathered intensity in 2008, despite the efforts of central banks and regulators to restore calm. By early 2009, the financial system and the global economy appeared to be locked in a descending spiral, and the primary focus of policy became the prevention of a prolonged downturn on the order of the Great Depression. This report sets out in tabular form a number of the factors that have been identified as causes of the crisis. The left column of Table 1 below summarizes the causal role of each such factor. The next column presents a brief rejoinder to that argument. The right-hand column contains a reference for further reading.