The paper synthesizes the results of the empirical research of the 2008—2009 global economic crisis determinants. Some of them are additionally tested and specified. In particular, the so called decoupling hypothesis is suggested to be split into weak and strong forms: the developing economies...

The article deals with the most influential monetary theories of business cycles, ranging from R. Hawtrey and F. Hayek’s descriptive models based on credit cycles to the financial accelerator concept worked out by B. Bernanke. The prerequisites, methodology and conclusions of the theories are...