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From a model of growth to a global crisis

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  • Atanas Leonidov

Abstract

The paper analyses the unprecedented coordinated actions to suppress the "free fall" of the United States and world economy. It then shows the role of monetary and fiscal policy of governments. The article reveals are the fundamental similarities and differences between the Great Depression of the 30-ies of the last century and the current Great Recession. It indicates the controversial results of the policies in the United States and the European Union and the emerging trend towards deflation.

Suggested Citation

  • Atanas Leonidov, 2015. "From a model of growth to a global crisis," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 1, pages 3-22,23-39.
    • Handle: RePEc:bas:econth:y:2015:i:1:p:3-22,23-39
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    References listed on IDEAS

    as
    1. Eichengreen, Barry & Irwin, Douglas A., 2010. "The Slide to Protectionism in the Great Depression: Who Succumbed and Why?," The Journal of Economic History, Cambridge University Press, vol. 70(4), pages 871-897, December.
    2. Karl Aiginger, 2009. "The Current Economic Crisis: Causes, Cures and Consequences," WIFO Working Papers 341, WIFO.
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    More about this item

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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