O'Reilly logo

The Second Great Contraction by Kenneth S. Rogoff, Carmen M. Reinhart

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

- 15 -

THE INTERNATIONAL DIMENSIONSOF THE SUBPRIME CRISIS:THE RESULTS OF CONTAGIONOR COMMON FUNDAMENTALS?

In the preceding two chapters we emphasized the similarities between the latest financial crisis (the Second Great Contraction) and previous crises, especially when viewed from the perspective of the United States at the epicenter. Of course, the crisis of the late 2000s is different in important ways from other post-World War II crises, particularly in the ferocity with which the recession spread globally, starting in the fourth quarter of 2008. The “sudden stop” in global financing rapidly extended to small-and medium-sized businesses around the world, with larger businesses able to obtain financing only at much dearer terms than before. ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required