Economic Crises in Recent World History: Analysis of Causes and Assessment of Consequences

Abstract

The study «Economic Crises in History: Analysis and Consequences» provides a comprehensive overview of significant economic crises spanning different periods and regions of world history. The work extensively examines the following events: the Great Depression (1929–1933), the Asian Financial Crisis (1997), the Financial Crisis of 2008, the Eurozone Debt Crisis (2010–2012), the Crisis in Russia (1998), and the Oil Crisis of the 1970s.Each crisis is analyzed in terms of its causes, characteristics, impact on the economy and society, as well as measures taken to overcome its consequences. The study emphasizes the role of crises in correcting imbalances, stimulating innovations, and restructuring industries. Specific figures, such as unemployment rates, GDP contractions, changes in financial markets, and other economic indicators, are discussed within the context of each crisis.In the conclusion of the study, it is underscored that despite their complexity and negative consequences, crises can serve as catalysts for change, fostering structural reforms, improving efficiency, and contributing to the development of a resilient economy in the long term.

Keywords

• economic crises
• great depression
• asian financial crisis
• global impact
• unemployment
• structural reforms
• innovation stimulus
• long-term economic development
• social impact