Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/208814 
Year of Publication: 
2012
Series/Report no.: 
PhD Series No. 18.2012
Publisher: 
Copenhagen Business School (CBS), Frederiksberg
Abstract: 
The Global Financial Crisis which started in 2007 is a defining economic event of our lifetime. Recessions and public bailouts of banking systems have resulted in concerns about the solvency of sovereigns in recent years as many Eurozone countries face substantial fiscal pressures. The exact causes of the Global Financial Crisis are still debated but it is unlikely to be the outcome of one single event. In a review of the Global Financial Crisis based on 21 books on the topic, Lo (2011) summarises the underlying causes and policy prescriptions: ”there is still significant disagreement as to what the underlying causes of the crisis were, and even less agreement as to what to do about it ... Like World War II, no single account of this vast and complicated calamity is sufficient to describe it.” The listed causes range from global capital flows, poor regulation, regulatory capture, inequality, high leverage, skewed economic incentives of borrowers and lenders, etc. Gorton and Metrick (2012) also contain an interesting summary of the literature written in recent years and in ”Lessons from the Financial Crisis” edited by Berd (2010) several chapters from academic researchers analyse the ongoing crisis.
Persistent Identifier of the first edition: 
ISBN: 
9788792842633
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Doctoral Thesis

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