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Global financial crisis as a symptom of the market economy turbulences in the 21st century

Journal: Economics Bulletin of The National Mining University (Vol.42, No. 42)

Publication Date:

Authors : ; ;

Page : 118-126

Keywords : bank and currency crisis; world financial crisis; mortgage loan; credit risk; derivative financial instrument; unconventional central banks operations; liquidity;

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Abstract

The transition of world economy into the financial turbulence phase is established basing on the cause and effect analysis of 2007–2009 financial crisis. Specific character of a new kind of cyclical dynamics of global economy is established and main reason for crisis-like phenomena are determined.

Last modified: 2015-04-29 06:50:53