Abstract
The 2008 global financial crisis is considered by many economists to be the worst one since the Great Depression of the 1930s. The crisis rapidly developed and spread into a global economic shock, which resulted in a number of European bank failures. World political leaders, national ministers of finance, and central bank directors coordinated their efforts to reduce fear, but the crisis continued and eventually led to a global currency crisis. During this period, economies worldwide slowed, credits tightened, and international trade declined.
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The 12 pillars include: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation.
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Lin, C.YY., Edvinsson, L., Chen, J., Beding, T. (2014). Introduction. In: National Intellectual Capital and the Financial Crisis in Israel, Jordan, South Africa, and Turkey. SpringerBriefs in Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7981-9_1
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DOI: https://doi.org/10.1007/978-1-4614-7981-9_1
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