REVISITING THE GLOBAL FINANCIAL CRISIS OF 2007/2008
UDEH, Sergius Nwannebuike and ONWUKA, Ifeanyi Onuka and AGBAEZE, E.K
REVISITING THE GLOBAL FINANCIAL CRISIS OF 2007/2008.
Business and Management Research Journal, 3 (3).
In this paper we reviewed the factors that led to the 2007/08 global economic and financial crisis. Key factors that contributed to the crises include.; laxity in regulation of financial institutions, regime of easy credit, unbridled development of several exotic financial assets whose underlying risks were vague even to the financial institutions that developed them, extensive and unsustainable use of leverage, lack of transparency and neglect of fundamentals in the calculation of risk matrices and criminal complicity of some credit rating agencies. These factors, it must be noted, differed in their impact and magnitude to the crisis from one clime to the other. When combined, as they did in the 2007/08 crisis, it becomes a perfect recipe for a financial time-bomb. In this work also, the authors’ places analytical spotlight on some of these factors that could potentially lead to future financial crisis if not mitigated.
|Subjects:||H Social Sciences > H Social Sciences (General)
L Education > L Education (General)
|Divisions:||Faculty of Management and Social Sciences|
|Date Deposited:||24 May 2018 14:38|
|Last Modified:||07 Aug 2018 10:22|
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