THE SLOW SPREAD OF THE GLOBAL CRISIS

We argue that the depth and breadth of the spread of the current crisis from the US subprime market across the globe was due more to the buildup of substantial financial vulnerabilities prior to the crisis than to irrational panic during the crisis. We examine how these developments explain the belated recognition of the severity of the crisis and its slow spread through various channels of contagion. We also discuss lessons for policy and research.

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Year of publication:	2010
Authors:	LIANG, PRISCILLA ; WILLETT, THOMAS D. ; ZHANG, NAN
Published in:	Journal of International Commerce, Economics and Policy (JICEP). - World Scientific Publishing Co. Pte. Ltd., ISSN 1793-9933. - Vol. 01.2010, 01, p. 33-58
Publisher:	World Scientific Publishing Co. Pte. Ltd.
Subject:	Financial crisis \| contagion

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Extent:	application/pdf text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008493704