Title:
The financial and economic crises : an international perspective
Author:
Gup, Benton E.
ISBN:
9781848446663
Publication Information:
Cheltenham : Edward Elgar, 2010.
Physical Description:
235 p. : ill. ; 24 cm.
General Note:
Formerly CIP.
Contents:
Pt. I. North America: Global financial crises / Benton E. Gup -- Spillover effects from the U.S. financial crisis: some time-series evidence from national stock returns / Apanard Penny Angkinand, James R. Barth and Hyeongwoo Kim -- Canadian banks and the North American housing crisis / James A. Brox -- pt. II. Europe: The German banking system and the financial crisis / Horst Gischer and Peter Reichling -- No free lunch--no decoupling, the crisis and Hungary: a case study / Júlia Király and Katalin Mérö -- pt. III. Asia and Australia: An analysis of the ripple effects of the global financial crisis on the South Korean economy and the recovery / Jungeun Kim, Kyeong Pyo Ryu and Doowoo Nam -- Promulgation of the US housing market crisis into Asia: impacts and depths / Masanori Amano and Hikari Ishido -- How Australia survived the global financial crises / Chris Bajada and Rowan Trayler -- pt. IV. International regulatory issues: A single financial market and multiple safety-net regulators: the case of the European Union / Maria J. Nieto -- The global financial crises: back to basics, bank supervision in developing countries / Thomas Lutton and Joseph Cauthen -- Hedge funds and offshore financial centers: new challenges for the regulation of systemic risks / Navin Beekarry.
Abstract:
The 2007 financial and economic crisis that began in the United States and quickly spread around the world differed from earlier crises in a number of significant ways. This book examines the causes of these events in the US, and their impacts on North America, Europe, Asia and Australia. As with previous crises, real estate booms and busts and excessive financial leverage played key roles; however, the most recent crisis had many unique aspects to it, all of which are explored here in depth. This includes the role played by large international banks, shadow banks, increased global liquidity, population growth and other factors. Collectively, these factors contributed to interconnected economies and financial markets to an extent that never existed before. The net result was the unprecedented ripple effect of the crises from the US and into the rest of the world. The impact of the crisis in the US was significantly different than the impact in Canada, Japan, Spain and other countries.
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