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1

Racjonalność kryzysu

100%

Jodko M.

Studia Ekonomiczne

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2014

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vol. 180 cz 1

55-64

EN

The financial crisis which started in 2008 led to the worst economic crisis since the 1930s. The crash of the speculative bubble in the real estate and derivatives market caused negative consequences in the real sphere too. The mechanism of the American financial crisis shows great resemblance to the Japanese one at the beginning of the 1990s. In both cases the government supported expansive monetary policy combined with the easy credit lay at the heart of the crisis. With the deregulation of the banking sector, the conditions were favorable to high risk investments. As a consequence, both in the USA and in Japan speculative bubbles expanded bringing comparable effects. The parties involved in the processes leading to the afore-mentioned crises acted, looking from the individual perspective, in a rational way. They may have been certain that their investments were rational and safe. This, as it turned out, false sense of security was created by the policy of American and Japanese governments respectively.

2

Von der US-Immobilienkrise zur globalen Finanzkrise

84%

Mestel R.

Zeszyty Naukowe Wyższej Szkoły Ekonomii i Informatyki w Krakowie

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2009

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issue 5

91-98

PL

Sytuacja na międzynarodowych rynkach finansowych doprowadziła do fali wielomiliardowych pakietów pomocowych, jakich na próżno szukać w historii. Chociaż najpierw wydawało się, że kryzys dotyczy tylko finansów, to w międzyczasie objął on także realną gospodarkę i spowodował światową recesję. Jako przyczynę tego kryzysu widzi się często pęknięcie bańki spekulacyjnej na amerykańskim rynku nieruchomości. Powstaje jednak pytanie jak nie podlegający globalizacji amerykański rynek nieruchomości mógł popchnąć system finansowy na skraj przepaści. Konieczne jest w tym kontekście zrozumienie głębszych, strukturalnych przyczyn kryzysu, począwszy od roli banków narodowych i agencji ratingowych po problem tzw. ABS, MBS lub CDO, aby rozumieć przedsięwzięcia mające na celu pokonanie kryzysu i ocenę szans skuteczności tych działań. (oryginalne streszczenie)

EN

The situation on international financial markets led to the sequence of multibillion aid packages which were never employed until this time. Even though at first it seemed that the crisis concerns only finances, in the meantime it included also the real economy and caused world recession. As the cause of this crisis the speculative bubbles burst on the American real estate market is often pointed out. However, the question arising is how the American real estate market, which is not subjected to globalization, could push the financial system to the edge. In this context understanding deeper, structural causes of the crisis is necessary is necessary, beginning with the role of national banks and credit bureaus to the so-called ABS, MBS or CDO products; in order to understand undertakings being aimed at overcoming the crisis and the effectiveness evaluation of those action. (AT)

3

The economic crisis - its causes and results and the limiting ventures (selected aspects)

84%

Ślusarczyk B., Sowa B.

Central European Review of Economics & Finance

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2017

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issue Vol. 22, No 6

41-56

EN

Economic crisis, which took place in the years 2008-2009, was one of the biggest crises, which affected the world's economy. It began in the United States, and then it moved through most countries in the world, especially the highly developed, and the effects of this crisis have been very painful for the entire global economy. It should be stressed that the framework of the economic crisis include the period 2008-2010, although its roots go back to an earlier period than 2008, and its consequences - according to the authors - will be felt for many years. In the wide range, the financial crisis referred to the economic collapse, caused by making the wrong decisions by the monetary authorities of individual countries, unskilful actions of speculators and recession on the course of business cycle. Undoubtedly it was globalisation which contributed to such state, which has led to a great openness of economies, which in turn resulted in the transfer between all economic phenomena, both the positive and the negative. Moreover, globalisation caused the fact that crisis phenomena are growing strong, more and more noticeable and faster and faster move between individual countries. Trade and financial relations, and (perhaps most importantly) the panic in the markets, are responsible for this process. (original abstract)

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Racjonalność kryzysu

Von der US-Immobilienkrise zur globalen Finanzkrise

The economic crisis - its causes and results and the limiting ventures (selected aspects)