A STUDY ON THE GLOBAL FINANCIAL CRISIS
Author(s):
Tabassum Nadeem , Mehek Jain , Pal Lakhani, Ekta Jain, Pratyush Kumar, Ms. Sunitha BK, Mr Sachin
Keywords:
Financial risk, Complexity theory, World economy, International finance, International monetary funds, Financial regulations, Economic growth.
Abstract
The 2007-2008 global financial crisis (GFC) was one of the most significant economic upheavals of the 21st century; reshaped the global financial landscape and led to the dominance of the world economy. This case study addresses various aspects of the crisis to identify the causes of the crisis, summarize the results of the intervention, and evaluate the effectiveness of the policy intervention. In fact, the global crisis emerged as a result of a combination of factors such as financial regulation, excessive risk and the development of financial instruments. The bursting of the American housing bubble became an event that exposed the flaws of the system and returned to the global financial market with unprecedented speed and scale. The impact of the crisis manifested itself in global economic failure and investment loss. Rising unemployment and economic debt in many countries. Its contagion has crossed national borders, paralyzed the economy and disrupted international relations. Additionally, the crisis has exposed the shortcomings of the existing regulatory framework and highlighted the interconnectedness of financial systems in an increasingly globalized economy. In response to the problem, policymakers have used a variety of financial, fiscal and supervisory measures to stabilize the financial market, restore people's business confidence and stimulate business returns. Central banks have implemented unprecedented financial solutions, governments have created massive economic packages, and regulatory institutions have reformed to improve financial protection and control of risks. However, the effectiveness and desirability of these policy interventions are still questionable. Debates among economists and policy makers. While some argue that these measures averted a major disaster and accelerated the economic recovery, others say they compromised integrity, made fundraising inconsistent, and laid the foundation for future financial risks. This research article is designed to provide a better understanding of the global financial crisis through empirical evidence, theoretical framework and policy analysis. It aims to inform ongoing debates on international trade and finance, security, governance
Article Details
Unique Paper ID: 162950

Publication Volume & Issue: Volume 10, Issue 11

Page(s): 498 - 505
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