Developing a Framework for Effective Financial Crisis Management

Singh, Dalvinder; LaBrosse, John Raymond

doi:10.1787/fmt-2011-5k9cswn0h042

Cited by 9 publications

(2 citation statements)

References 18 publications

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“…Future research ought to focus on short-term financial techniques that assist in reducing the impact of a recession. Previous studies have shown the importance of credit and risk management strategies that contribute to economic growth [6]. However, globalization has introduced new elements emanating from pandemic and subprime mortgages that require intensive measures.…”

Section: Future Researchmentioning

confidence: 99%

Exploring the Principles and Laws of Financial Crisis: from the Subprime Mortgage Crisis to New Crown Epidemic

Wang¹

2021

Proceedings of the 6th International Conference on Financial Innovation and Economic Development (ICFIED 2021)

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Financial crisis has stimulated debates among analysts as they strive to detect and reduce the impact of recession before it undermines the global economy's development. The challenges that the financial crisis imparts in nations are becoming intense due to globalization. Moreover, capital markets are evolving from domestic to national boundaries, consequently attracting fiscal challenges. This exposes the global economy to the subprime mortgage crisis. Contextually, the research topic focuses on exploring the principles and laws of financial turmoil that promote economic stability. Besides, it highlights crucial experiences that act as lessons. The research focuses on five types of financial crises which include, -banking crisis, currency crisis, public debt crisis, inflation crisis, and balance of payment crisis. Afterward, causes of financial instability and consequences act as tools that help assess laws and principles that guide global economic development. By analyzing secondary data from past financial reports, this paper displays that capital markets' amalgamation impacts the global economy whenever one nation encounters setbacks from poor monetary policies. Notably, speculators and pandemics impact on the subprime mortgage crisis. The prospective suggestions for follow-up research are placed in the conclusion.

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Section: Future Researchmentioning

confidence: 99%

Exploring the Principles and Laws of Financial Crisis: from the Subprime Mortgage Crisis to New Crown Epidemic

Wang¹

2021

Proceedings of the 6th International Conference on Financial Innovation and Economic Development (ICFIED 2021)

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“…The crisis management carried out by the increasingly active central bank played a pivotal role in this process. 25 When Hungary was hit by the 2008 crisis, 26 it was vulnerable and defenceless. One reason for this, among others, was that the Constitution in force before 2011 did not contain any chapter on public finances; in other words, there was no constitutional rule, nor a guarantee enforcing compliance, for the limitation of excessive sovereign indebtedness.…”

Section: Outcomes Of Coordination In Hungarian Public Financesmentioning

confidence: 99%

Excerpts on New Hungarian State Finances From Legal, Economic and International Aspect

Lentner

2018

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The Hungarian national economy, struggling with public finance debts, low efficiency in budgetary policy and a weak control potential, had reached a state of crisis by the middle of the 2000s, which deepened further by the time of the 2007-2008 crisis. From 2010 onwards, as opposed to the conventional crisis management method of the International Monetary Fund (IMF) and the European Union, which was based on budgetary restrictions, adjustments were made to the budget. In 2013, the Hungarian central bank, which did not use conventional crisis management instruments either, joined in, thus becoming an institutional part of the state financial system. It was confirmed that the central bank can help fiscal consolidation and growth potential while still being able to preserve its independence. Conditions were established for the -non-conventional -rules of both fiscal and monetary interventions within the highest level national regulatory framework of the law, compliance with which is ensured by legislative and institutional guarantees.

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Macro-prudential regulations and systemic risk: the role of country-level governance indicators

Rizwan,

Qureshi,

Sahibzada

2023

J Bank Regul

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Developing a Framework for Effective Financial Crisis Management

Cited by 9 publications

References 18 publications

Exploring the Principles and Laws of Financial Crisis: from the Subprime Mortgage Crisis to New Crown Epidemic

Exploring the Principles and Laws of Financial Crisis: from the Subprime Mortgage Crisis to New Crown Epidemic

Excerpts on New Hungarian State Finances From Legal, Economic and International Aspect

Macro-prudential regulations and systemic risk: the role of country-level governance indicators

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