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Introduction

  • Rajat Kathuria
  • Neetika Kaushal Nagpal
Chapter

Abstract

The global financial crisis, triggered by the collapse of Lehman Brothers in September 2008 in the United States, started a contagion that pushed the world economy into deep recession. Not since the Great Depression of the 1930s, had the world economy witnessed such a massive reduction in gross domestic product (GDP) and a sharp drop in real growth. The proximate cause of the crisis lay in the US sub-prime housing market, whose collapse led to a run in shadow banking, debilitating confidence in financial institutions in the US and across the world.

Keywords

Food Security Gross Domestic Product Monetary Policy International Monetary Fund World Trade Organization 
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

© Indian Council for Research on International Economic Relations 2016

Authors and Affiliations

  1. 1.ICRIERNew DelhiIndia

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