The Subprime Crisis and the Asian Crisis - Remarks from a Comparative Analysis

• Autorzy: Michał Jurek , Paweł Marszałek

Warianty tytułu

Kryzys o zwiększonym ryzyku i kryzys azjatycki - uwagi wynikające z analizy porównawczej

• Języki publikacji: EN

Abstrakty

EN

The paper reveals whether the existing premises of currency and banking crises can be implemented while searching for the roots of the contemporary global financial crisis. To answer this question, we attempt to find out whether the current crisis is similar to the one that exploded in the countries of Southern and Western Asia in the nineties. We find that, apart from the constant increase in the volume of capital flows around the world, the development of techniques of the financial instruments' creation as well as institutional forms of financial institutions, the main reasons for the crises' outburst remain unchanged. Among them one can distinguish weakening economic fundamentals and structural imperfections, reflected in the lack of transparency of financial instruments and financial markets. (original abstract)

Autorzy artykułu starają się odpowiedzieć na pytanie, czy istniejące pojęcia kryzysów bankowych i walutowych można wykorzystać szukając przyczyn globalnego kryzysu finansowego. W tym celu autorzy zbadali, czy i w jakim stopniu obecny kryzys jest podobny do kryzysu bankowego i walutowego, który wybuchł w krajach Azji Południowo-Wschodniej w latach dziewięćdziesiątych ubiegłego wieku. Realizacja tak sformułowanego celu badawczego pozwoliła stwierdzić, że mimo ciągłego wzrostu przepływów kapitału na świecie, rozwoju technik konstrukcji instrumentów finansowych oraz instytucjonalnych form instytucji finansowych, główne przyczyny wybuchu kryzysów pozostają niezmienione. Należą do nich słabnące fundamenty gospodarcze oraz niedoskonałości strukturalne wyrażające się w nieprzejrzystości produktów finansowych oraz rynków finansowych. (abstrakt oryginalny)

Słowa kluczowe

EN

Banking crisis; Currency crisis; Financial crisis; Financial markets; Comparative analysis; Asian crisis; Subprime crisis

PL

Kryzys bankowy; Kryzys walutowy; Kryzys finansowy; Rynki finansowe; Analiza porównawcza; Kryzys azjatycki; Kryzys subprime

• Czasopismo: Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu. Nauki o Finansach
• Rocznik: 2010
• Tom: 3
• Numer: nr 125
• Strony: 37--63

Twórcy

autor

Michał Jurek

• Poznań University of Economics, Poland

autor

Paweł Marszałek

• Poznań University of Economics, Poland

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