The economic crisis was initially supposed to affect only developed countries, but the financial troubles spread over the real economy and the crisis became a global phenomenon. After almost two years of difficulties, several lessons could be drawn from this episode: why the crisis was...

In many developing and emerging countries, the alarm signals sent by specialists regarding the effects of the global crisis were not taken seriously because these economies were not financially integrated with the world system and consequently, they would not be contaminated. The same confidence...