This paper analyses the current financial crisis from a Neo-Schumpeterian perspective. We postulate four linkages that led to the crisis, and that will help us find our way out of the crisis. Therefore, we show that the current evolution is very similar to the Japanese crisis in the beginning of...

The current financial and economic crisis has resulted in the worst global recession since World War II. The subsequent destruction of jobs and increased duration of joblessness will ensure that unemployment across the world will continue to rise and stay stubbornly high for some time to come,...

This paper examines the effects of the financial crisis on lending within the Romanian banking system. Lending in Romania contracted significantly since the fall of last year for two reasons. On one hand, the central bank’s new crediting norms, that intended to limit borrowing risks, entered...

This paper explores long wave theory, including Kondratieff's theory of cycles in production and relative prices; Kuznets's theory of cycles arising from infrastructure investments; Schumpeter's theory of cycles due to waves of technological innovation; Goodwin's theory of cyclical growth based...

Without a lender of last resort financial stability is not possible and systemic financial crises get out of control. During and after the Great Reces-sion the US Federal Reserve System (Fed) and the European Central Bank (ECB) took on the role of lender of last resort in a comprehensive way....

The literature on the outcomes of the financial crisis in low- and middle-income countries in the post-1980 era presents three broad findings: first, the burden of crises falls disproportionately on labor in general and low-income segments of the society in particular. Wages and the labor share...

Main target of this study is to set a model that will make predictions based upon financial statements and companies’ rate of stock return in crisis periods when economic indicators are at high level and show sudden changes and to develop an artificial neural network model that has...

Financial market crises with the threat of a subsequent debt-deflation depression have occurred with increasing regularity in the United States from 1980 through the present. Almost reflexively, when confronted with such circumstances, US institutions and the policymakers that run them have...