In this work, we trace and analyze the emergence of the crisis in the Bulgarian banking system as well as the behavior of the central bank and other macroeconomic institutions. The average annual rate of growth in the net profits of the commercial banks for the period 2002-2008 amounted to...

This work analyzes the role of governance of financial entities in the current crisis. Neoliberal economic policies, deregulation and liberalization have characterized financial globalization, giving rise to the financialization of the economy. This paper, using the analysis-synthesis method,...

The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to the emergence of the shadow banking system. This paper...

This article explains the impacts of Dubai Crisis (DC) on the United Arab Emirates (UAE), the wider Gulf region and at international level. It also extensively examines the differences and similarities between Dubai Crisis and the Global Financial Crisis (GFC). This examination includes studying...

A new test for financial market contagion based on increases in extremal dependence (co-kurtosis and co-volatility) is developed to identify the propagation mechanism of shocks across international financial markets. This new approach is applied to test for contagion in equity markets and...

We analyze the determinants of the contribution of international banks to both global and local systemic risk during prominent financial crises. We find no empirical evidence supporting the hypotheses that bank size, leverage, non-interest income or the quality of the bank's credit portfolio are...

The historical record shows that financial crises are far from being a rare a phenomenon; they occur often enough to be considered part of the workings of finance capitalism. While there is no single hypothesis that can best explain all crises, the implications of the credit boom-and-bust...

This work analyzes the role of governance of financial entities in the current crisis. Neoliberal economic policies, deregulation and liberalization have characterized financial globalization, giving rise to the financialization of the economy. This paper, using the analysis-synthesis method,...