- Paperback: 360 pages
- Publisher: Financial Times/ Prentice Hall; 1 edition (8 Feb. 2011)
- Language: English
- ISBN-10: 027373511X
- ISBN-13: 978-0273735113
- Product Dimensions: 17.3 x 1.9 x 23.9 cm
- Average Customer Review: 4.0 out of 5 stars See all reviews (4 customer reviews)
- Amazon Bestsellers Rank: 420,246 in Books (See Top 100 in Books)
- See Complete Table of Contents
Financial Crisis: Causes; Context and Consequences Paperback – 8 Feb 2011
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From the Back Cover
A fascinating close-up analysis of the causes of the 2007/8 financial crisis and its consequences, Financial Crisis places the world of finance under the microscope, bringing together evidence of the involvement of banks, governments and regulators. It questions some of its most dangerous and dubious practices, witnessed while searching for the answer to the question:
What really caused the financial crisis?
- offers a timeline of events, giving an accessible overview of the crisis its prelude, its unfolding and its aftermath
- focuses upon how the seeds of the crisis were sown and how they grew
- highlights government responses to the crisis, and banking practices and failures from around the world
- includes exhibits and original press cuttings, providing a relevant context to the story and an aid to understanding
- examines the major context of the crisis, for example, securitisation, regulation, the decline in house prices, bankruptcies, and the consequent unemployment
- investigates frauds, swindles and the worlds largest Ponzi scheme
- provides parallels between the 2007/8 financial crisis and the Wall Street Crash of 1929, together with the Great Depression
- looks at lessons for the future, and suggests a roadmap to recovery
Essential reading for students of economics, finance, politics, contemporary history, public policy and ethics, and it is accessible to all interested in deepening their understanding of the financial crisis.
Adrian Buckley is Emeritus Professor of International Finance at Cranfield School of Management, Cranfield University, and Visiting Professor of Finance at the Free University, Amsterdam. Prior to entering academic life, he worked in banking, management consulting and as a group treasurer to a FTSE-100 company.
Every chapter contains the following
- FT article vignettes.
- Key points and concepts
- References and further reading
- End of chapter questions
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Top Customer Reviews
Students, and general readers coming to the topics of finance or economics for the first time are given a good introduction to such issues as externalities, monetary policy, fiscal policy, the practice of banking, moral hazard, lender of last resort status, bank lending criteria, how booms and busts develop, finance theory and economic theory. So friendly is the presentation that readers might well be attracted to the great masters of these topics. But their exposition is unlikely to be as clear as here.
There is also a very good chapter on credit default swaps. Three chapters are devoted to mini-case studies of bank failures in the USA, UK and the rest of Europe. There is an excellent chapter comparing and contrasting this crisis with the Great Depression and an equally valuable chapter containing advice to governments, banks, regulators, borrowers and academics. Some of the author's advice has already been implemented. The recent crisis is a big topic. The author covers it really well in about 300 pages. It's so well written that I could happily have read another 100!!
You won't find a better text on the crisis of 2007/2008.