Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted
At the ideological level, the current crisis, as the others in history, has triggered an intellectual debate among several applicable ideas: ultra-liberal theory of the "invisible hand" of Adam Smith, Keynes’s theory of state interventionism and even neo-Marxist theories. Globalization, wi...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2011-01-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/547.pdf
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| _version_ | 1818127072949698560 |
|---|---|
| author | Felix TOTIR Ingrid-Mihaela DRAGOTĂ |
| author_facet | Felix TOTIR Ingrid-Mihaela DRAGOTĂ |
| author_sort | Felix TOTIR |
| collection | DOAJ |
| description | At the ideological level, the current crisis, as the others
in history, has triggered an intellectual debate among several applicable
ideas: ultra-liberal theory of the "invisible hand" of Adam Smith,
Keynes’s theory of state interventionism and even neo-Marxist theories.
Globalization, with all its core components, generates a chain reaction
when the phenomenon occurs, either positive or negative. The origin of
the current financial crisis should be sought in the effects of massive
cross-border capital flows and the use of more complex derivatives.
Reaching the saturation of the three engines of economic growth
worldwide in the period after the collapse of the socialist bloc is another
important cause of all the failures that currently exist worldwide.
Acquisition of toxic assets from bank balance sheets, their
recapitalization and takeover by the state, but also the reinforcement of
the prudential supervision of capitalization, liquidity and risk
management system, improved transparency and speed the process of
evaluating or reinforcing authorities’ response to risk, can be considered
short or long term anti-crisis measures, as appropriate. |
| first_indexed | 2024-12-11T07:11:33Z |
| format | Article |
| id | doaj.art-719ff2e20ad34c7db86d2b484d438e08 |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-12-11T07:11:33Z |
| publishDate | 2011-01-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-719ff2e20ad34c7db86d2b484d438e082022-12-22T01:16:20ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292011-01-01XVIII118418678Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions AdoptedFelix TOTIR0Ingrid-Mihaela DRAGOTĂ1 The Military Technical Academy of Bucharest Bucharest Academy of Economic Studies At the ideological level, the current crisis, as the others in history, has triggered an intellectual debate among several applicable ideas: ultra-liberal theory of the "invisible hand" of Adam Smith, Keynes’s theory of state interventionism and even neo-Marxist theories. Globalization, with all its core components, generates a chain reaction when the phenomenon occurs, either positive or negative. The origin of the current financial crisis should be sought in the effects of massive cross-border capital flows and the use of more complex derivatives. Reaching the saturation of the three engines of economic growth worldwide in the period after the collapse of the socialist bloc is another important cause of all the failures that currently exist worldwide. Acquisition of toxic assets from bank balance sheets, their recapitalization and takeover by the state, but also the reinforcement of the prudential supervision of capitalization, liquidity and risk management system, improved transparency and speed the process of evaluating or reinforcing authorities’ response to risk, can be considered short or long term anti-crisis measures, as appropriate. http://store.ectap.ro/articole/547.pdf financial crisisglobalizationfinancial crisis paradigms |
| spellingShingle | Felix TOTIR Ingrid-Mihaela DRAGOTĂ Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted Theoretical and Applied Economics financial crisis globalization financial crisis paradigms |
| title | Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted |
| title_full | Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted |
| title_fullStr | Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted |
| title_full_unstemmed | Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted |
| title_short | Current Economic and Financial Crisis – New Issues or Returning to the Old Problems? Paradigms, Causes, Effects and Solutions Adopted |
| title_sort | current economic and financial crisis new issues or returning to the old problems paradigms causes effects and solutions adopted |
| topic | financial crisis globalization financial crisis paradigms |
| url |
http://store.ectap.ro/articole/547.pdf
|
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