Search for Articles:

Recently Downloaded: Paper ID: ART2020859, Total 103 Articles Downloaded Today



Causes and Policy Responses of the Great Depression and the Financial Crisis of 2008: A Comparison

Musharrat Azam

Abstract: This paper does a comparative analysis of the causes and policy responses between the Great Depression of 1929 and the Financial Crisis of 2008. The Great Depression in 1929 originated from a stock market bubble burst and a subsequent rise in interest rates due to the Federal Reserves contractionary monetary policy. The Financial Crisis of 2008 was on the other hand, caused through a real estate bubble burst that escalated with the creation of subprime mortgage backed securities. The Great Depression spread throughout the countries that had been maintaining a strict adherence to gold standard. The Financial Crisis transmitted outside the United States through the process of securitization. A series of monetary and fiscal policies and banking reforms eventually helped overcome the slowdown in economic growth caused by these two financial crises.

Keywords: Financial crisis 2008, Great Depression

Country: Bangladesh, Subject Area: Economics

Pages: 1728 - 1730

Edition: Volume 8 Issue 7, July 2019

How to Cite this Article?

Musharrat Azam, "Causes and Policy Responses of the Great Depression and the Financial Crisis of 2008: A Comparison", International Journal of Science and Research (IJSR), https://www.ijsr.net/archive/v8i7/show_abstract.php?id=ART201910009, Volume 8 Issue 7, July 2019, 1728 - 1730

Download PDF


Viewed 28 times.

Downloaded 12 times.