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A comparative analysis of solutions regarding the current global crisis

Author

Listed:
  • Adina DORNEAN
  • Vasile ISAN

    (FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION, “AL. I. CUZA” UNIVERSITY OF IASI)

Abstract

The aim of this paper is to analyze comparatively and critically the solutions adopted on international level by the European Union and also by different countries. In the first part, the paper aims at emphasizing the causes of the global economic and financial crisis and its features, including the contagion effect which manifested. In the second part, we consider the main implications of the global financial turmoil in order to emphasize the serious effects of the crisis. Finally, we analyze the solutions outlined in hard-hit countries in order to limit and counteract its effects, the solutions adopted on international level and also the domestic remedies. For this purpose, we compare the fiscal, monetary and budgetary solutions developed and implemented in countries such as USA, UK, Japan, EU countries and, of course, Romania.

Suggested Citation

  • Adina DORNEAN & Vasile ISAN, 2012. "A comparative analysis of solutions regarding the current global crisis," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 27-35, May.
    • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:27-35
    as

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    File URL: http://fse.tibiscus.ro/anale/Lucrari2012/kssue2012_003.pdf
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    References listed on IDEAS

    as
    1. Reinhart, Karmen & Rogoff, Kenneth, 2009. ""This time is different": panorama of eight centuries of financial crises," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 77-114, March.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 215-268, November.
    3. Miguel Almunia & Agustín Bénétrix & Barry Eichengreen & Kevin H. O’Rourke & Gisela Rua, 2010. "From Great Depression to Great Credit Crisis: similarities, differences and lessons [Germany: Guns, butter, and economic miracles]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 25(62), pages 219-265.
    4. George A. Akerlof & Robert J. Shiller, 2010. "Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism," Economics Books, Princeton University Press, edition 1, number 9163.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    financial crisis; global crisis; sub-prime credit; fiscal packages; monetary policy;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
    • G01 - Financial Economics - - General - - - Financial Crises
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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