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Global Financial Crisis: What Did We Know, What Have We Learnt?

  • Kumarjit Mandal
  • Sabyasachi Kar
Chapter

Abstract

Financial crises, in one form or the other, have been ravaging the world economy from time to time. The great depression of 1929 was perhaps the most significant financial crisis in the economic history of the world in terms of its geographical spread and deep impact. Commentators are unanimous at crediting the global financial crisis of 2008 as the second-most significant crisis (Hall 2010). In between several crises of smaller dimension-like Mexican crisis, Latin American debt crisis and Asian crisis have frequented us. All these crises had played havoc with the rhythm of economic lives of the people of the affected countries. But at the same time, they made the people understand the importance of exercising prudence and caution in economic policy-making.

Keywords

Financial Crisis Global Financial Crisis Exchange Rate Regime Foreign Exchange Market Credit Spread 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer India 2013

Authors and Affiliations

  1. 1.Department of EconomicsUniversity of CalcuttaKolkataIndia
  2. 2.Institute of Economic GrowthDelhiIndia

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