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Berlin Institute for International Political Economy (IPE), Hochschule für Wirtschaft und Recht Berlin >
IPE Working Papers, Institute for International Political Economy, HWR Berlin >
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http://hdl.handle.net/10419/59313
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| Title: | | Five explanations for the international financial crisis  |
| Authors: | | Evans, Trevor |
| Issue Date: | | 2010 |
| Series/Report no.: | | Working Paper, Institute for International Political Economy Berlin 08/2010 |
| Abstract: | | This paper first briefly outlines the background to the 2007-08 international financial crisis. It then goes on to examine five of the main approaches that have been put forward to explain the crisis: the widespread presence of perverse incentives; the over-expansionary monetary policy of the US Federal Reserve; the impact of global imbalances and a so-called 'savings glut' in developing countries; the extensive deregulation of the financial system since the 1970s; and the attempt to generate an increasing return on all forms of capital and the associated pressure on wages. The paper concludes with a brief note on the policy implications which follow from each of these explanations. |
| Document Type: | | Working Paper |
| Appears in Collections: | | IPE Working Papers, Institute for International Political Economy, HWR Berlin
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