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Title
The 2007-2008 Global Financial Crisis: The Causes, Effects, and Recoveries of the Most Impacted Economies
Description
The 2007-2008 Global Financial Crisis is one that is not widely understood by many. The easy access to cheap credit and the global over-confidence leading up to 2008 both played a large factor in how economies were affected by the crisis. This paper looks at the stories of Spain, Portugal, Ireland, and Iceland leading up to, during, and after this crisis in order to discover how it happened and why it was so widespread. I explain three lessons that can be learned from this crisis in attempt to avoid this type of crisis in the future. First, countries were not automatically safe investments once they joined the European Monetary Union. Second, easy access to credit is not sustainable in the long run. Finally, confidence plays a main role in the performance of an economy, and the loss of confidence can be detrimental.
Date Created
2019-05
Contributors
- Smaw, Hannah (Author)
- McDaniel, Cara (Thesis director)
- Hill, Alexander (Committee member)
- Department of Finance (Contributor)
- Department of Economics (Contributor)
- Barrett, The Honors College (Contributor)
Topical Subject
Resource Type
Extent
34 pages
Language
eng
Copyright Statement
In Copyright
Primary Member of
Series
Academic Year 2018-2019
Handle
https://hdl.handle.net/2286/R.I.52246
Level of coding
minimal
Cataloging Standards
System Created
- 2019-04-04 12:00:09
System Modified
- 2021-08-11 04:09:57
- 3 years 3 months ago
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