Purpose – The aim of this paper is to explore the lessons offered by the financial crisis about the appropriate epistemological approaches to apply in the study of human affairs in general, and of the financial markets in particular. Design/methodology/approach – The paper applies a...

Purpose – Previous academic literature indicates that the case of the banking crises recovery, in view of implemented regulations and policies, differs across times and countries. This is explained by varied institutional environments in which banking sectors operate, and in which financial...

In this paper, we investigate worldwide contagion and its determinants during the 2008 financial crisis. Utilizing an international sample of returns from 2003 to 2009, we consider both uni- and bi-directional contagion. After controlling for crisis-related volatility, we find strong evidence...

Prior to the global financial crisis of 2008, the UK had the largest banking sector asset to GDP ratio among large countries, and had experienced rapid real property price increases as well as a persistent current account deficit in the preceding decade. These factors, together with its role as...