Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/67953
Authors: 
Lissowska, Maria
Year of Publication: 
2012
Series/Report no.: 
Economics Discussion Papers 2012-65
Abstract: 
This paper discusses the underpinnings of the financial crisis of the last decade. It explores the endogenous reasons of this crisis, and in particular a possible link between delayed and unequal growth of household incomes in post-transition countries on one hand and the instability of their growth and depth of recession after the financial crisis on the other. It indicates possible microeconomic factors under-pinning rapidly growing indebtedness of households, enabling faster consumption growth, but subject to fluctuations. It claims also that artificially boosted growth of consumption and a favourable proportion between wages and profits could attract investment (also FDI), possibly searching for short-term gains. It underlines that the inflow of financial funds contributed to, but did not cause instability growth in this region.
Subjects: 
Welfare
labour market
post-transition economies
stability
JEL: 
I38
J48
P51
Creative Commons License: 
http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type: 
Working Paper

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