Structural Causes of the Global Financial Crisis : A Critical Assessment of the ‘ New Financial Architecture ’

@inproceedings{Crotty2008StructuralCO,
  title={Structural Causes of the Global Financial Crisis : A Critical Assessment of the ‘ New Financial Architecture ’},
  author={’ James Crotty},
  year={2008}
}
  • ’ James Crotty
  • Published 2008
We are in the midst of the worst financial crisis since the Great Depression. This crisis is the latest phase of the evolution of financial markets under the radical financial deregulation process that began in the late 1970s. This evolution has taken the form of cycles in which deregulation accompanied by rapid financial innovation stimulates powerful financial booms that end in crises. Governments respond to crises with bailouts that allow new expansions to begin. As a result, financial… CONTINUE READING
Highly Cited
This paper has 46 citations. REVIEW CITATIONS