Makrem, Ben Doudou - In: Atlantic Review of Economics 2 (2014), pp. 1-18
In this paper, we present the root cause of the American financial crisis in 2007. We show that financial integration … and capital flow volatility is the factor that creates a climate conducive to the emergence of the crisis in the USA and … recent years had a pro-cyclical character. We show also that this behavior was the root cause of the crisis and even previous …