The Global Financial Tidal Wave and its Influence on the East Asian Economy

In this article, I first clarify the basis of the development of the crisis in the structure of the US housing loan market. Next, I discuss the sequence of the events marking the progress of the crisis, including the collapse of the subprime loan market, the bankruptcy of mortgage banks, the bail-ou...

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Bibliographic Details
Main Authors: Takamasu Akira, 高増 明
Format: Report
Language:English
Published: 関西大学社会学部 2016
Subjects:
Lehman shock
subprime loan
shadow banking system
East Asian economy
関西大学
Kansai University
Downfall
The Downfall
Iceland
Online Access:http://hdl.handle.net/10112/10580
https://kansai-u.repo.nii.ac.jp/?action=repository_uri&item_id=9566
https://kansai-u.repo.nii.ac.jp/?action=repository_action_common_download&item_id=9566&item_no=1&attribute_id=19&file_no=1
Description
Summary:In this article, I first clarify the basis of the development of the crisis in the structure of the US housing loan market. Next, I discuss the sequence of the events marking the progress of the crisis, including the collapse of the subprime loan market, the bankruptcy of mortgage banks, the bail-out of Freddie Mac, Fannie Mae, and AIG by the US government, the economic crisis of Iceland and developing nations, and the downfall of GM and Chrysler. In the latter half of the paper, I analyze the impact of the crisis on the East Asian economy. In conclusion, let me consider the implications of this crisis and the outlook of the world economy.

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