The Global 2008-2009 Financial Crisis: Origins, Patterns, Consequences, and Policy Responses

Volume 9, Issue 3, June 2024     |     PP. 106-117      |     PDF (183 K)    |     Pub. Date: July 4, 2024
DOI: 10.54647/economics790461    67 Downloads     4101 Views  

Author(s)

Jingyi Zhang, Institute of Logic and Information, Sichuan Normal University, Chengdu, Sichuan 610068, China

Abstract
The global 2008-2009 financial crisis played a significant role in global financial history. Analyzing it is of vital importance to prevent such a crisis from happening again. The paper is based on the global financial crisis and aims to analyze its origins, patterns, consequences and policy responses. The paper consists of six parts. The first part is the background of the crisis, providing some basic information. The second part mainly analyzes the origins of the crisis. The third part is the patterns of the crisis, illustrating how the crisis evolved. The fourth and fifth parts provide information about the consequences and policy responses of the crisis in America and global areas respectively. In the end, a conclusion is drawn based on the above analysis.

Keywords
global 2008-2009 financial crisis; origins; patterns; consequences; policy responses

Cite this paper
Jingyi Zhang, The Global 2008-2009 Financial Crisis: Origins, Patterns, Consequences, and Policy Responses , SCIREA Journal of Economics. Volume 9, Issue 3, June 2024 | PP. 106-117. 10.54647/economics790461

References

[ 1 ] Mishkin, F.S. (2001). Financial Policies and the Prevention of Financial Crises in Emerging Market Economics. Policy Research Working Paper Series, The World Bank, No 2683, 1-41.
[ 2 ] Durusoy, S., Sica, E., & Beyhan, Z. (2015). Economic crisis and protectionism policies: The case of the EU countries. International Journal of Humanities and Social Science, 5(6), 57-68.
[ 3 ] Adrian, T., & Shin, H. S. (2010). The changing nature of financial intermediation and the financial crisis of 2007–2009. Annu. Rev. Econ., 2(1), 603-618.
[ 4 ] Beker, V. A. (2013). The experience of three crises: the Argentine default, American subprime meltdown and European debt mess. Real-world Economics Review, 65, 65-115.
[ 5 ] White, L. J. (2010). Markets: The credit rating agencies. Journal of Economic Perspectives, 24(2), 211-226.
[ 6 ] Thakor, A. V. (2015). The financial crisis of 2007–2009: Why did it happen and what did we learn?. The Review of Corporate Finance Studies, 4(2), 155-205.
[ 7 ] Barth, M. E., & Landsman, W. R. (2010). How did financial reporting contribute to the financial crisis?. European accounting review, 19(3), 399-423.
[ 8 ] Cao, Y. Z. (2007). Analysis and Inspiration on the Subprime Lending Crisis of US Housing Mortgage Loans. Journal of Studies of International Finance, 11,4-11.
[ 9 ] Chen, Y., & Chen, J. D. (2009). The 2008 Global Financial Crisis and Its Inspiration. Journal of East China Economic Management, 23(02), 66-70.
[ 10 ] Jiang, D. Z. (2008). Nine Warnings of the US Financial Crisis. Journal of China Finance, 21, 10-12.
[ 11 ] Lan, Y. G. (2008. 11. 4). Global stock markets evaporated $5.79 trillion in October, reaching a new high after September. China News.
[ 12 ] Zhen, W. J., & Zhou, X. Y. (2010). A review of the theoretical perspectives on the causes of the US financial crisis. Journal of Hainan Finance, 01, 45-52.
[ 13 ] Du, X. Y., Liu H., & Liu X. H. (2008). Summary of the seminar on the United States Financial Crisis and Its Consequences. The Chinese Journal of American Studies, 04, 142-152.