Using generation approach we examine the genesis and mechanisms in major financial crisis and focus on the recent sub – prime crisis. We believe that in the era of increased financial globalization a reliable approach has to consider besides fundamental factors multiple equilibriums and self...

The liberalisation of capital flows makes in the Romanian economy vulnerable to the important and presumably unstable capitals.

The turbulences on the international financial markets are rather connected to the downfall of the American mortgage market than to the generalised insolvency of the debtors.