Hidden Global Causes of the Global Financial Crisis
DOI:
https://doi.org/10.6000/1929-7092.2012.01.9Keywords:
Causes of global financial crisisAbstract
Abstract: Hopes of ending the financial crisis did not materialize. Recent events (the problems of the euro zone, the threat of default in the U.S., the collapse of the financial market after a reduction of the credit rating of the U.S., debt problems in the world (Europe, U.S.), U.S. fiscal cliff, etc.) show that the crisis deepened, affecting new areas and taking on a systemic character.
It becomes clear that we need in-depth analysis of its general, systemic causes. This article examines recent results in this field, obtained by scientists of Finance University under the Russian Federation Government.
References
Applied Financial Economics, 2010,v. 20, Issue 1-2.
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http://dx.doi.org/10.1080/09603107.2010.537635
Brusov Peter, Filatova Tatiana, 2011b. “From Modigliani-Miller to the general theory of corporate finance”, Finance and credit, Moscow, 3 (435): 2-8.
Brusov Peter, Filatova Tatiana, Orehova Natalia, Brusov Pavel, Brusova Nastia, 2011c. “ From Modigliani-Miller to general theory of capital cost and capital structure of the company”, Research Journal of Economics, Business and ICT, 2: 16-21. (UK).
Brusov Peter, Filatova Tatiana, Mukhadin Eskindarov, Orehova Natalia, Brusov Pavel, Brusova Nastia. 2012. “Influence of debt financing on the effectiveness of the finite duration investment project””, Applied Financial Economics, 22(13): 1043-1052.
http://dx.doi.org/10.1080/09603107.2011.637893
Brusova ?.P.,2011. “ Comparision of the three methods of estimation of weighted average cost of capital and equity cost of company” Financial analysis: problems and solutions, 34 (76):36-42.
William Cheung, Scott Fung and Shih-Chuan Tsai, 2010, “Global capital market interdependence and spillover effect of credit risk: evidence from the 2007-2009 global financial crisis”, Applied Financial Economics, 20(1-2): 85-103.
http://dx.doi.org/10.1080/09603100903262962
Ann Ling-Ching Chan, 2012, “Innovation activity and corporate financing: evidence from a developing economy”, Applied Financial Economics 22(20): 1665-1678.
http://dx.doi.org/10.1080/09603107.2012.667547
Georgios Chalamandaris and Andrianos E. Tsekrekos, 2010 “The correlation structure of FX option markets before and since
the financial crisis”, Applied Financial Economics, 20(1-2):73-84.
http://dx.doi.org/10.1080/09603100903262525
Les Coleman and Sean Pinder, 2010, “ What were they thinking? Reports from interviews with senior finance executives in the lead-up to the GFC, “ Applied Financial Economics, 20(1-2):7-14.
http://dx.doi.org/10.1080/09603100903262533
Evrim ?mer-Ertunga, 2011, “Global financing conditions and sovereign debt yields of emerging market countries”, Applied Financial Economics, 21(4), 207-215.
http://dx.doi.org/10.1080/09603107.2010.528363
Kui-Wai Li, 2012, “A study on the volatility forecast of the US housing market in the 2008 crisis”, 22(22): 1869-1880.
Modigliani F., Miller M. 1958, “The Cost of Capital, Corporate Finance and the Theory of Investment “ American Economic Review.48. (4): 261 - 297.
Modigliani F., Miller M. 1963. “Corporate Income Taxes and the Cost of Capital: A Correction”. American Economic Review. 53(3): 147-175.
Modigliani F., Miller M. 1966. “Some estimates of the Cost of Capital to the Electric Utility Industry 1954-1957” American Economic Review: 261-297.
Myers S. 2001. “Capital Structure” Journal of Economic Perspectives. 15(2): 81-102.
http://dx.doi.org/10.1257/jep.15.2.81
John L. Simpson, 2010, “Were there warning signals from banking sectors for the 2008/2009 global financial crisis?” 20 (1-2): 45-61.
Brusov Peter, Filatova Tatiana, Orehova Natalia, Brusova Nastia, 2011a. “Weighted average cost of capital in the theory of Modigliani-Miller, modified for a finite lifetime company”, Applied Financial Economics, 21(11): 815-824.
http://dx.doi.org/10.1080/09603107.2010.537635
Brusov Peter, Filatova Tatiana, 2011b. “From Modigliani-Miller to the general theory of corporate finance”, Finance and credit, Moscow, 3 (435): 2-8.
Brusov Peter, Filatova Tatiana, Orehova Natalia, Brusov Pavel, Brusova Nastia, 2011c. “ From Modigliani-Miller to general theory of capital cost and capital structure of the company”, Research Journal of Economics, Business and ICT, 2: 16-21. (UK).
Brusov Peter, Filatova Tatiana, Mukhadin Eskindarov, Orehova Natalia, Brusov Pavel, Brusova Nastia. 2012. “Influence of debt financing on the effectiveness of the finite duration investment project””, Applied Financial Economics, 22(13): 1043-1052.
http://dx.doi.org/10.1080/09603107.2011.637893
Brusova ?.P.,2011. “ Comparision of the three methods of estimation of weighted average cost of capital and equity cost of company” Financial analysis: problems and solutions, 34 (76):36-42.
William Cheung, Scott Fung and Shih-Chuan Tsai, 2010, “Global capital market interdependence and spillover effect of credit risk: evidence from the 2007-2009 global financial crisis”, Applied Financial Economics, 20(1-2): 85-103.
http://dx.doi.org/10.1080/09603100903262962
Ann Ling-Ching Chan, 2012, “Innovation activity and corporate financing: evidence from a developing economy”, Applied Financial Economics 22(20): 1665-1678.
http://dx.doi.org/10.1080/09603107.2012.667547
Georgios Chalamandaris and Andrianos E. Tsekrekos, 2010 “The correlation structure of FX option markets before and since
the financial crisis”, Applied Financial Economics, 20(1-2):73-84.
http://dx.doi.org/10.1080/09603100903262525
Les Coleman and Sean Pinder, 2010, “ What were they thinking? Reports from interviews with senior finance executives in the lead-up to the GFC, “ Applied Financial Economics, 20(1-2):7-14.
http://dx.doi.org/10.1080/09603100903262533
Evrim ?mer-Ertunga, 2011, “Global financing conditions and sovereign debt yields of emerging market countries”, Applied Financial Economics, 21(4), 207-215.
http://dx.doi.org/10.1080/09603107.2010.528363
Kui-Wai Li, 2012, “A study on the volatility forecast of the US housing market in the 2008 crisis”, 22(22): 1869-1880.
Modigliani F., Miller M. 1958, “The Cost of Capital, Corporate Finance and the Theory of Investment “ American Economic Review.48. (4): 261 - 297.
Modigliani F., Miller M. 1963. “Corporate Income Taxes and the Cost of Capital: A Correction”. American Economic Review. 53(3): 147-175.
Modigliani F., Miller M. 1966. “Some estimates of the Cost of Capital to the Electric Utility Industry 1954-1957” American Economic Review: 261-297.
Myers S. 2001. “Capital Structure” Journal of Economic Perspectives. 15(2): 81-102.
http://dx.doi.org/10.1257/jep.15.2.81
John L. Simpson, 2010, “Were there warning signals from banking sectors for the 2008/2009 global financial crisis?” 20 (1-2): 45-61.
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Published
2012-11-06
How to Cite
Brusov, P., Filatova, T., Eskindarov, M., & Orekhova, N. (2012). Hidden Global Causes of the Global Financial Crisis. Journal of Reviews on Global Economics, 1, 106–111. https://doi.org/10.6000/1929-7092.2012.01.9
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