- Autor
- Szyszka Adam (Poznań University of Economics, Poland)
- Tytuł
- Genesis of the 2008 global financial crisis and challenges to the neoclassical paradigm of finance
- Źródło
- Poznań University of Economics Review, 2011, vol. 11, nr 1, s. 64-72, bibliogr. 7 poz.
- Słowa kluczowe
- Kryzys finansowy, Rynki finansowe, Gospodarka światowa
Financial crisis, Financial markets, World economy - Abstrakt
- The paper presents the genesis of 2008 global financial crisis, discusses systemic changes in the financial world, and rises the question about the need for the new paradigm of finance in the lieu of the witnessed turbulent processes. A hypothesis is formulated that the neoclassical theory of finance lost its credibility due to systemic changes that have happened within institutions, markets, and instruments over the last three decades. It is suggested that the theory should be modified in line with dynamically changing financial environment. Conclusion is reached that an interdisciplinary approach is needed in the search for an adequate theory of finance. (original abstract)
- Dostępne w
- Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka SGH im. Profesora Andrzeja Grodka
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu - Pełny tekst
- Pokaż
- Bibliografia
-
- Chinn, M. (2005), Getting Serious about the Twin Deficits, Council on Foreign Relations, New York.
- Currency Composition of Official Foreign Exchange Reserves (2009), International Monetary Fund.
- FIA Annual Volume Survey 2007 (2009), Bank of International Settlements Quarterly Review.
- Lewis, W.W. (2004), The Power of Productivity. Wealth, Poverty, and the Threat to Global Stability, The University of Chicago Press, Chicago.
- McKinsey Global Institute (2008, January), Mapping Global Capital Markets: Fourth Annual Report, www.mckinseycom/mgi/publications/mapping_global/index.asp.
- Szyszka, A. (2010), Behavioral Anatomy of the Financial Crisis, Journal of Centrum Cathedra, vol. III, issue II.
- Warnock, F., Warnock, V. (2005), International Capital Flows and U.S. Interest Rates, International Finance Discussion Papers, no. 840, Board of Governors of the Federal Reserve System, Washington, DC.
- Cytowane przez
- ISSN
- 1643-5877
- Język
- eng
