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Causes and Consequences of the Current Economic Crisis

Author

Listed:
  • Chindriº-Vãsioiu Oana

    (Ecological University of Bucharest, Faculty of Economic Science)

  • Tocan Mãdãlina Cristina

    (Ecological University of Bucharest, Faculty of Economic Science)

Abstract

Current economic and financial crisis is considered to be the deepest crisis to date. Some experts believe that the current crisis began following publications in the press about U.S. banks instability, which led to loss of credibility banks, and others believe that bankers are responsible for the crisis because they had cash reserves of state interest. These are just opinions, but in fact the causes are more complex as both macroeconomic and microeconomic. Economic effects were felt worldwide, but different from state to state depending on the regulations and its level of development. Crisis governments have taken steps to protect the national economy both individually and collectively (at EU level).

Suggested Citation

  • Chindriº-Vãsioiu Oana & Tocan Mãdãlina Cristina, 2012. "Causes and Consequences of the Current Economic Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 15-20, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:15-20
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    More about this item

    Keywords

    financial crisis; economic crisis; leverage; bubble; gross domestic product.;
    All these keywords.

    JEL classification:

    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance
    • F68 - International Economics - - Economic Impacts of Globalization - - - Policy

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