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Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics

Cilt: 7 Sayı: 1 30 Haziran 2022
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Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics

Öz

The global crisis appeared at the end of a period called great moderation when it was accepted that everything was going well. This study aims to reveal the role of institutional factors as well as the macroeconomic dynamics that were effective in the Financial Crisis of 2008. We present general description of the crisis, evaluations about the process that led to the crisis, the global spread, the degree of success of the struggle, and what needs to be done to prevent similar situations in the future. Based on the evaluations on the causes of the crises, it is inferred that the views on institutional failures, the effect of the financial innovations and liberalization process, and the systemic tendency of capitalism to a crisis are at the forefront. The explanations for the crisis, which was not on the agenda of mainstream economics, mainly came from the representatives of heterodox economics.

Anahtar Kelimeler

Kaynakça

  1. Acemoğlu, D. (2009). The Crisis of 2008: Lessons for and from. Critical Review, 21 (2-3), 185-194.
  2. Aka, B. E. (2006). On the Duration of the Financial System Stability Under Liberalization. Emerging Markets Rewiew. 7 (2), 147-161.
  3. Alessi, L., Detken, C. (2009). Real Time Early Warning Indicators for Costly Asset Price Boom/Boost Cycles: A Role for Global Liquidity. ECB Working Paper Series, no: 1039. Frankfurt: European Central Bank.
  4. Babecký, J., Havránek, T., Matějů, J., Rusnák, M., Šmídková, K., Vašíček, B. (2012). Leading Indicators of Crisis Incidence: Evidence from Developed Countries. ECB Working Paper Series, no:1486. Frankfurt: European Central Bank.
  5. Baier, S. L., Clance, M. Dwyer, G.P. (2012). Banking Crises and Economic Freedom. Economic Freedom of the World: 2012 Annual Report. ed. James Gwartney, Robert Lawson, Joshua Hall. Vancouver: Fraser Institute: 201-217.
  6. Barrell, R., Davis, E.P., Karim, D., Liadze, I. (2010). Bank Regulation, Property Prices and Early Warning Systems for Banking Crises in OECD Countries. Journal of Banking & Finance, 34(9), 2255-2264.
  7. Bernanke, B. S. (2004). Great Moderation. Eastern Economic Association speech. Washington.https://www.federalreserve.gov/boarddocs/speeches/2004/20040220/default.htm.
  8. Bussiere, M., Fratzscher, M. (2006). Towards a New Early Warning System of Financial Crises. Journal of International Money and Finance, 25(6), 953-973.

Ayrıntılar

Birincil Dil

İngilizce

Konular

Ekonomi

Bölüm

Araştırma Makalesi

Yayımlanma Tarihi

30 Haziran 2022

Gönderilme Tarihi

25 Şubat 2022

Kabul Tarihi

17 Nisan 2022

Yayımlandığı Sayı

Yıl 2022 Cilt: 7 Sayı: 1

Kaynak Göster

APA
Kayıkçı, F., Kesgin, M., & Yılmaz Genç, S. (2022). Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics. JOEEP: Journal of Emerging Economies and Policy, 7(1), 184-197. https://izlik.org/JA97GA84WZ
AMA
1.Kayıkçı F, Kesgin M, Yılmaz Genç S. Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics. JOEEP. 2022;7(1):184-197. https://izlik.org/JA97GA84WZ
Chicago
Kayıkçı, Fazıl, Mustafa Kesgin, ve Sema Yılmaz Genç. 2022. “Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics”. JOEEP: Journal of Emerging Economies and Policy 7 (1): 184-97. https://izlik.org/JA97GA84WZ.
EndNote
Kayıkçı F, Kesgin M, Yılmaz Genç S (01 Haziran 2022) Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics. JOEEP: Journal of Emerging Economies and Policy 7 1 184–197.
IEEE
[1]F. Kayıkçı, M. Kesgin, ve S. Yılmaz Genç, “Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics”, JOEEP, c. 7, sy 1, ss. 184–197, Haz. 2022, [çevrimiçi]. Erişim adresi: https://izlik.org/JA97GA84WZ
ISNAD
Kayıkçı, Fazıl - Kesgin, Mustafa - Yılmaz Genç, Sema. “Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics”. JOEEP: Journal of Emerging Economies and Policy 7/1 (01 Haziran 2022): 184-197. https://izlik.org/JA97GA84WZ.
JAMA
1.Kayıkçı F, Kesgin M, Yılmaz Genç S. Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics. JOEEP. 2022;7:184–197.
MLA
Kayıkçı, Fazıl, vd. “Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics”. JOEEP: Journal of Emerging Economies and Policy, c. 7, sy 1, Haziran 2022, ss. 184-97, https://izlik.org/JA97GA84WZ.
Vancouver
1.Fazıl Kayıkçı, Mustafa Kesgin, Sema Yılmaz Genç. Rethinking the Global Financial Crisis: Theoretical Perspectives from Heterodox Economics. JOEEP [Internet]. 01 Haziran 2022;7(1):184-97. Erişim adresi: https://izlik.org/JA97GA84WZ

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