Adam Tooze, Crashed: How a Decade of Financial Crises Changed the World

2020 ◽  
pp. 102452942098122
Author(s):  
Rune Møller Stahl
Keyword(s):  
Financial Crises ◽  
The World

scholarly journals Origins and Resolution of Financial Crises: Lessons from the Current and Northern European Crises

2009 ◽  
Vol 8 (3) ◽  
pp. 178-220 ◽  
Author(s):  
Finn Østrup ◽  
Lars Oxelheim ◽  
Clas Wihlborg
Keyword(s):  
Financial Crisis ◽  
Housing Market ◽  
Political Institutions ◽  
Financial Crises ◽  
World Economy ◽  
Credit Crunch ◽  
Original Strain ◽  
Northern European ◽  
The World ◽  
The U.S

Since July 2007, the world economy has experienced a severe financial crisis that originated in the U.S. housing market. Subsequently, the crisis has spread to financial sectors in European and Asian economies and led to a severe worldwide recession. The existing literature on financial crises rarely distinguishes between factors that create the original strain on the financial sector and factors that explain why these strains lead to system-wide contagion and a possible credit crunch. Most of the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue that a financial crisis with its contagion within the system is caused by failures of legal, regulatory, and political institutions.

11. Is Marx still relevant?

2018 ◽  
pp. 101-118
Author(s):  
Peter Singer
Keyword(s):  
Climate Change ◽  
Soviet Union ◽  
20Th Century ◽  
Financial Crises ◽  
Early 20Th Century ◽  
Economic Interests ◽  
Dominant Ideology ◽  
The Soviet Union ◽  
The World ◽  
Proletarian Revolution

By the early 20th century, Marxism was the dominant ideology of the left, especially in Europe. Marxism spread significantly around the world after the two world wars, but Marx’s prominence went into abrupt decline in 1991, with the collapse of the Soviet Union. Since then, China has been the most significant avowedly Marxist country. ‘Is Marx still relevant?’ considers whether Marx’s views are still relevant when dealing with worldwide inequality, global financial crises, the age of globalization, and climate change. It concludes that Marx’s ideas about the role that economic interests play in our intellectual and political lives will remain relevant, but that his prediction of the inevitability of a proletarian revolution will not.

After The Global Crisis, Is It Globalization or Globalonelization?

2015 ◽  
pp. 287-307
Author(s):  
Ayfer Gedikli ◽  
Seyfettin Erdoğan ◽  
Durmuş Çağrı Yıldırım
Keyword(s):  
Emerging Economies ◽  
Financial Crises ◽  
Local Governments ◽  
World Wide ◽  
Global Financial Crisis ◽  
Economic Consequences ◽  
Global Crisis ◽  
The World ◽  
The Global Financial Crisis

Since the rise of globalization which has abolished the role of nation-state gradually, the world has been increasingly dealing with world-wide pandemics and multi-regional financial crises. The nature of the Global Financial Crisis has made it clear that financially integrated and globalized markets which are poorly regulated with lax supervision, can pose significant risks, with disastrous economic consequences. Did global unfairness and loose monetary policy or lack of common fiscal policy deepen the crisis? Is globalization responsible from the loss of power of local governments on their economies? Finally, can “deglobalization” be an alternative solution for the emerging economies? The answers of these questions are even more crucial after the “FED tapering”. In this context, this chapter discusses the future of financial globalization with respect to its effects on the emerging economies during the global crisis.

Financial Regulation

2011 ◽  
Vol 216 ◽  
pp. F4-F9 ◽  
Author(s):  
Ray Barrell ◽  
E. Phillip Davies
Keyword(s):  
Risk Taking ◽  
Financial Crises ◽  
Financial Regulation ◽  
Banking Regulation ◽  
Committee Report ◽  
Costs And Benefits ◽  
Basel Committee ◽  
The Core ◽  
The World ◽  
The Relationship

The financial crisis that engulfed the world in 2007 and 2008 has led to a wave of re-regulation and discussion of further regulation that has culminated in the proposals from the Basel Committee as well as those in the Vickers Committee report on Banking Regulation and Financial Crises. This issue of the Review contains a number of papers on Banking Regulation, covering many aspects of the debate, and we can put that debate in perspective through these papers and also by discussing our work on the relationship between bank size and risk taking, which is reported in Barrell et al. (2011). We addressed the causes of the crisis in the October 2008 Review, and began to look at the costs and benefits of bank regulation in Barrell et al. (2009). In that paper we argued that we needed to know the causes of crises and whether the regulators could do anything to affect them before we discussed new regulations. It is now generally agreed that increasing core capital reduces the probability of a crisis occurring, and most changes in regulation that are being discussed see this as the core of their toolkit. The work by the Institute macro team in Barrell et al. (2009) and in Barrell, Davis, Karim and Liadze (2010) was the first to demonstrate that there was a statistically important role for capital in defending against the probability of a crisis occurring, and our findings were widely used in the policy community in the debate over reform.

The Middle Path of Moderation in Islam

2015 ◽  
Author(s):  
Mohammad Hashim Kamali ◽  
Tariq Ramadan
Keyword(s):  
Environmental Degradation ◽  
Financial Crises ◽  
Conceptual Analysis ◽  
Modern World ◽  
Continuity And Change ◽  
Personal Character ◽  
The World ◽  
Historical Profile ◽  
Moderating Role

This book is presented in two parts, consisting of a total of twenty-three chapters. Part One occupies seven chapters, which begin with a conceptual analysis of wasaṭiyyah, its meaning, definition, scope, and manifestations. This is followed by a review of the source evidence in the Qur’an and hadith, and then a round-up of modern opinion on wasaṭiyyah. The hallmarks of wasaṭiyyah and those of extremism, identification of wasaṭiyyah, its manifestations, and institutional developments on wasaṭiyyah are also discussed under Part One. Part Two looks into the various manifestations of wasaÏiyyah in the context, for instance, of religiosity, moderation and justice, environmental degradation, and financial crises the world has experienced in recent years. Other chapters that follow address subjects such as moderation in jihÉd, the moderating role of disagreement (ikhtilÉf), how wasaÏiyyah can be manifested with regard to women’s rights, the moderating influence of Sufism, wasaÏiyyah and globalization, and moderation in personal character and lifestyle. Two other chapters that appear toward the end bear the titles respectively of “Islam Between Antiquity and the Modern World” and “Reconciling the Concerns of Continuity and Change.” The former looks at Islam’s historical profile, how it played out its role of moderation in its relations with the outside world, whereas the latter looks into the ways Islam can moderate itself from within through the instrumentalities, for instance, of tajdid and islah (renewal and reform), respectively. In almost every chapter, the book explores Islamic principles and doctrines on a number of selected themes that seek to contextualize Islamic teachings with contemporary realities through the lenses of wasaṭiyyah. Part One thus focuses on a conceptual analysis of wasaṭiyyah and its understanding from a perusal of the Islamic text and doctrine, whereas Part Two presents a selected cluster of themes related to wasaṭiyyah and their application to contemporary issues.

Tighter Financial Regulation and its Impact on Global Growth

2010 ◽  
Vol 213 ◽  
pp. F39-F44 ◽  
Author(s):  
Ray Barrell ◽  
Dawn Holland ◽  
Dilruba Karim
Keyword(s):  
Financial Crises ◽  
World Economy ◽  
Financial Regulation ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Perceptions Of Risk ◽  
The Third ◽  
The World ◽  
Global Growth

The financial crisis that started in mid-2007 enveloped the world economy and caused a serious recession in most OECD countries. It is widely believed that it has also left a scar on potential output because it will have raised perceptions of risk and hence reduced the sustainable capital stock people wish to hold. It is inevitable that policymakers should ask what can be done to reduce the chances of this happening again, and it is equally inevitable that the banks would answer that it is too costly to do anything. There are four questions one must answer before it is possible to undertake a cost-benefit analysis of bank regulation. The first involves asking what are the costs of financial crises? The second involves asking what are the costs of financial regulation? The third involves asking what causes crises? The fourth, and perhaps the most important, involves asking whether regulators can do anything to reduce the risk of crises? Our overall approach to these issues is spelled out in a report written for the FSA in the aftermath of the crisis (see Barrell et al., 2009).

scholarly journals Business Investment and the Nigerian Investible Capital Haemorrhage in Financial Crises

2015 ◽  
pp. 416-436
Author(s):  
Kehinde Adekunle Adetiloye
Keyword(s):  
Financial Crises ◽  
Banking System ◽  
Business Environment ◽  
Portfolio Investment ◽  
Two Stage ◽  
Business Investment ◽  
Main Technique ◽  
The World ◽  
Negative Effect ◽  
Portfolio Investments

The global financial crises that happened between 2007 and 2010 had deleterious effects on countries across the world including Nigeria with regard to their respective levels of globalisation. This was evidenced with sudden outflows of capital emanating from the capital market that impacted negatively on the banking system. The chapter has adopted a number of variables among which are investment and net portfolio investments and external reserves. The main technique used is the regression (both single and two-stage) the results of which indicate that the investment was not negatively impacted by the portfolio investment but had significantly negative effect on the external reserve and the saving of the country. The chapter recommends a better control of the capital out flows and improvement in the business environment to reduce the capital haemorrhage faced by the Nigerian economy.

scholarly journals Measuring our investment in the future

2018 ◽  
Vol 6 (2) ◽  
Author(s):  
Susan De Witt
Keyword(s):  
Sustainable Development ◽  
United Nations ◽  
Capital Markets ◽  
Financial Crises ◽  
Sustainable Development Goals ◽  
Global Development ◽  
Global Consensus ◽  
The World ◽  
Key Issues ◽  
Development Goals

Global consensus has been built around a few key issues, and there have been a slew of unifying declarations and commitments as a result. The climate is changing and those countries in the Paris Accord have committed to reducing carbon output in an attempt to slow it down. The world is inequitable and unstable, and those countries signed up to the United Nations Sustainable Development Goals have identified 17 areas in which we need to address global development. It is also becoming clearer to the person on the street that capital markets are not as effective at allocating risk as believed and this is putting everyone in danger. The financial crises over the last few decades are examples of how large miscalculations affect billions of lives, especially those who are most vulnerable to begin with.

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