IDEAS home Printed from https://ideas.repec.org/a/ush/jaessh/v3y2008i4(6)_winter200832.html
   My bibliography  Save this article

The Spread Of The Capital Marketss Global Crisis: Does The Countries Industrial Profile Matter?

Author

Listed:
  • Claudiu Tiberiu ALBULESCU

Abstract

The causes of 2007�s financial perturbations and mainly of the subprime crisis are well known at the beginning of 2008. Nevertheless, the specialists pay little attention to capital markets global crisis and to its consequences. In this study, we demonstrate using Infinancials data, that we are experiencing a global capital markets crisis, where the European financial markets are the most affected. The impact of the crisis upon the 45 analysed countries differs depending on their industrial structure. Among the other factors which led to a different impact of the global crisis we can range the capital markets development and the correction of the assets prices boom. The effects of this crisis on the real economy are less obvious at the beginning of 2008, especially at European level, but the economic growth forecasts became pessimistic. The credit activity is negatively influenced and the foreign exchange market crosses over a turbulent period. The financial crisis consequences in respect of the real economy will depend on the recovery capacity of the United States economy.

Suggested Citation

  • Claudiu Tiberiu ALBULESCU, 2008. "The Spread Of The Capital Marketss Global Crisis: Does The Countries Industrial Profile Matter?," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 3(4(6)_Wint).
  • Handle: RePEc:ush:jaessh:v:3:y:2008:i:4(6)_winter2008:32
    as

    Download full text from publisher

    File URL: http://www.jaes.reprograph.ro/articles/winter2008/TheSpreadArticle1.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Buiter, Willem, 2007. "Lessons from the 2007 Financial Crisis," CEPR Discussion Papers 6596, C.E.P.R. Discussion Papers.
    2. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Is the 2007 US Sub-Prime Financial Crisis So Different?: An International Historical Comparison," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 56(3), pages 291-299.
    3. Morris Goldstein, 2005. "What Might the Next Emerging-Market Financial Crisis Look Like?," Working Paper Series WP05-7, Peterson Institute for International Economics.
    4. Albulescu Claudiu Tiberiu, 2008. "La crise actuelle des marches financiers : l’impact au niveau Europeen," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 22-26, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gerard Caprio & Patrick Honohan, 2008. "Banking Crises," Center for Development Economics 2008-09, Department of Economics, Williams College.
    2. Marc Hayford & Anastasios Malliaris, 2010. "Asset Prices and the Financial Crisis of 2007--09: An Overview of Theories and Policies," Forum for Social Economics, Taylor & Francis Journals, vol. 39(3), pages 279-286, January.
    3. Andrew K. Rose & Mark M. Spiegel, "undated". "Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning," Working Papers 6, Department of the Treasury, Ministry of the Economy and of Finance.
    4. Catarina Lourenço Soares & Adelaide Maria de Sousa Figueiredo & Fernanda Otília de Sousa Figueiredo, 2014. "Analysis of Public, Private and Financial Sectors in European Countries Through the Statis Methodology," FEP Working Papers 541, Universidade do Porto, Faculdade de Economia do Porto.
    5. Nikolay Hristov & Markus Roth, 2019. "Uncertainty Shocks and Financial Crisis Indicators," CESifo Working Paper Series 7839, CESifo.
    6. Daisuke Ikeda & Toan Phan & Timothy Sablik, 2020. "Asset Bubbles and Global Imbalances," Richmond Fed Economic Brief, Federal Reserve Bank of Richmond, vol. 20, pages 1-4, January.
    7. Alessandra Canepa & Fawaz Khaled, 2018. "Housing, Housing Finance and Credit Risk," IJFS, MDPI, vol. 6(2), pages 1-23, May.
    8. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "Recovery from Financial Crises: Evidence from 100 Episodes," American Economic Review, American Economic Association, vol. 104(5), pages 50-55, May.
    9. Hertrich Markus, 2019. "A Novel Housing Price Misalignment Indicator for Germany," German Economic Review, De Gruyter, vol. 20(4), pages 759-794, December.
    10. Stijn Claessens & M. Ayhan Kose, 2013. "Financial Crises: Explanations, Types and Implications," CAMA Working Papers 2013-06, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    11. Egon Smeral, 2009. "Mögliche Auswirkungen der Finanz- und Konjunkturkrise auf den österreichischen Tourismus," WIFO Studies, WIFO, number 34879, January.
    12. Guillermo Calvo & Fabrizio Coricelli & Pablo Ottonello, 2014. "Jobless Recoveries during Financial Crises: Is Inflation the Way Out?," Central Banking, Analysis, and Economic Policies Book Series, in: Sofía Bauducco & Lawrence Christiano & Claudio Raddatz (ed.),Macroeconomic and Financial Stability: challenges for Monetary Policy, edition 1, volume 19, chapter 11, pages 331-381, Central Bank of Chile.
    13. Robert Fay & James Ketcheson, 2016. "The US Labour Market: How Much Slack Remains?," Staff Analytical Notes 16-9, Bank of Canada.
    14. Pais, Amelia & Stork, Philip A., 2011. "Contagion risk in the Australian banking and property sectors," Journal of Banking & Finance, Elsevier, vol. 35(3), pages 681-697, March.
    15. Pieter A. Gautier, 2009. "Coordination Frictions and The Financial Crisis," Tinbergen Institute Discussion Papers 09-028/3, Tinbergen Institute.
    16. Altermatt, Lukas & van Buggenum, Hugo & Voellmy, Lukas, 2024. "Systemic bank runs without aggregate risk: How a misallocation of liquidity may trigger a solvency crisis," Journal of Financial Economics, Elsevier, vol. 161(C).
    17. Anjan Thakor, 2015. "Lending Booms, Smart Bankers, and Financial Crises," American Economic Review, American Economic Association, vol. 105(5), pages 305-309, May.
    18. Kim, Teakdong & Koo, Bonwoo & Park, Minsoo, 2013. "Role of financial regulation and innovation in the financial crisis," Journal of Financial Stability, Elsevier, vol. 9(4), pages 662-672.
    19. Dan Costin NIŢESCU & Florin Alexandru DUNĂ & Adriana Daniela CIUREL, 2020. "Banking sector and bank liquidity – key actors within financial crises?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(623), S), pages 147-168, Summer.
    20. Santiago Carbo-Valverde & Francisco Rodriguez-Fernandez, 2014. "Financial regulation in Spain," Working papers wpaper59, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ush:jaessh:v:3:y:2008:i:4(6)_winter2008:32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Laura Stefanescu (email available below). General contact details of provider: https://edirc.repec.org/data/fmuspro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.