TYPES OF FINANCIAL CRISES

Abstract

In the context of globalization and internationalization of the financial markets, issues resulting from financial crises are becoming increasingly serious and substantial, creating a lot of discussion among experts, worldwide. Many studies have attempted to investigate what measures can be taken to detect and prevent crises before they devastate the economies. This paper examines some of the most significant types of financial crises according to their origin, including banking, currency, and debt crises in order to draw lessons from their occurrence. The analysis is done by systematic and comparative analysis of relevant scientific literature which refers to the different types of financial crises and their consequences.

Keywords

• twin crisis
• debt crisis
• banking crisis
• currency crisis
• securitization
• financial innovation.