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dc.contributor.authorEvans, Trevoren_US
dc.description.abstractThis 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.en_US
dc.publisher|aInst. for International Political Economy |cBerlinen_US
dc.relation.ispartofseries|aWorking Paper, Institute for International Political Economy Berlin |x08/2010en_US
dc.titleFive explanations for the international financial crisisen_US
dc.typeWorking Paperen_US

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