mortgage crisis had its origins, like many earlier banking crises, in a boom-bust economic cycle. Grossman finds that important …

’ volatility, through spillover effects, into economic and financial crisis and social anomy. What fuels the wildfire does not … policy makers. The current financial system is discredited. It is necessary to reform the financial institutions and …

Brazil. To explain the relation between crisis and reform, this paper identifies some variables and hypotheses. It also …The 2008 global crisis that hit in the heart of the system highlighted main deficiencies and vulnerabilities of the … current international monetary system and revived the old concerns about its functioning. The reform of the international …

The crisis itself was caused by several factors whose relative importance will be debated for years. But whatever the … human costs of the crisis. Policymakers should focus on how to correct deficiencies in the financial architecture that have … contributed to the outbreak of the crisis. When reforms are implemented, it is important not only aim to create a stable financial …

After surveying causes of the crisis and common features of the few emerging markets that were in trouble, the paper … turns to the road ahead. Even with global agreement on policy stimulus, action was mostly national. Progress on other reform … is yet to occur. The intellectual framework and ethical forces that caused the crisis continue to dominate. With problems …

Financial crisis led to a sovereign debt crisis due to high deficits accumulated before the crisis and also due to … large bail out programs for commercial banks. Besides the reform of EU economic governance, austerity policies were imposed …

We investigate the effects of economic crises on the subsequent economic, performance, economic reform, democratization … economic, crises during the 1990s. We find that the severity of crisis has a positive impact on the subsequent pace of economic … reform, economic growth and, with a delay, on investment and institutional change. Episodes of high inflation, moreover …