Global Financial Crisis

In: Business and Management

Submitted By LitaRT
Words 6647
Pages 27
Positive and Negative Effects of the Global Financial Crisis
Harlita H. Tomlinson
Capella University

BMGT8114: Accounting in the Global Era
Dr. Wendy Achilles
June 8,2014

Table of Contents
Abstract 3
Positive and Negative Effects of the Global Financial Crisis 4
Background on the Global Financial Crisis 5
Global Financial Crisis and Its Negative Effects 9 Lack of Financial Sector Regulation and Oversights 9 Increase in the Number of Bankruptcies 11
Global Financial Crisis and Its Positive Effects 12 Designing Regulations to Monitor the Financial Sector 12 Global Governance as a Side Effect of the Global Financial Crisis 13
Lessons Learned 16 Domestic Lessons Learned 16 Global Lessons Learned 17 Lessons from Romania. 18
The Role of Financial Executives in GFC 19
Conclusions 21
References 24

The first financial crisis of the twenty-first century has not yet ended, according to Gorton and Metrick (2012), the wave of research on the crisis has already exceeded any single reader’s capacity, with the pace of new work only making this task harder. The Global Financial Crisis is considered by many economists to be the worst financial crisis since the Great Depression. Global Financial Crisis resulted in the threat of the total collapse of large financial institutions, the bailout of banks by national governments, and market downturns around the world. In the aftermath of this crisis, the housing market declined significantly and has not recovered. This essay begins by providing an overview of the Global Financial Crisis. Both the positive and negative effects of Global Financial Crisis will be examined from both a domestic and international perspectives. The lessons learned from GFC also will be summarized.

Positive and Negative Effects of the Global Financial Crisis
The Global Financial Crisis (GFC) is considered by…...

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