재무연구 제 권 호 (2010년 5월)
Asian Review of Financial Research, Vol., No..
pp.908~933
pp.908~933
Comparative Study on the Great Depressions and Suggestive Exit Strategy
한국재무학회
1. Since 1929, there were 5 great depressions, i.e. great depression, 1929-1933, Savings and Loan Association Crissis, 1984-1992, Northern Europe Three Countries Financial Crisis, 1988-1993, Japanese Financial Crisis, 1990-2002. and finally, Subprime Mortgage Financial Crisis, 2008-present. 2. Common causes of financial crisis were: (1) Financial Bubble caused by Lessaer-fare Policy, (2) Lack of Financial Supervision System, (3) Sudden tight money policy shift and collapse of bubble. (4) Crisis of Financial System and Shrinkage of real economy. 3. Suggestive countermeasures and exit strategies are: (1) Timing of Exit Policy, (2) Control of Money, (3) Reformation of Financial Supervision System, (4) Warning System of Debt Increasing, 5) International Cooperation.
1. Since 1929, there were 5 great depressions, i.e. great depression, 1929-1933, Savings and Loan Association Crissis, 1984-1992, Northern Europe Three Countries Financial Crisis, 1988-1993, Japanese Financial Crisis, 1990-2002. and finally, Subprime Mortgage Financial Crisis, 2008-present. 2. Common causes of financial crisis were: (1) Financial Bubble caused by Lessaer-fare Policy, (2) Lack of Financial Supervision System, (3) Sudden tight money policy shift and collapse of bubble. (4) Crisis of Financial System and Shrinkage of real economy. 3. Suggestive countermeasures and exit strategies are: (1) Timing of Exit Policy, (2) Control of Money, (3) Reformation of Financial Supervision System, (4) Warning System of Debt Increasing, 5) International Cooperation.
Great Depression,Financial Crisis,Bubble,Financial Supervision,Exit Policy
