The process of financial globalization has given rise to an increase in the frequency of financial crises. With it, there has also been a surge in research about financial crises. One of the key questions in this area is whether crises are triggered by fundamentals or come as a result of panic. Observing real-world events, many prominent researchers, including Friedman and Schwartz (1963) and K...

In this paper we provide new evidence about the relationship between financial crises and economic situation for different countries which belong to the OECD and emergent economies of Latin America and Asia. The results show new support to the different influence of economic situation according to the type of financial crises. Aggregate data and panel techniques are used taking into account the...

The main purpose of this study is to provide a detailed statistical overview of the time and regional distribution, relative timing occurrence of economic crises and government changes in 51 economies over the 1990–2007 periods. At the same time, the predictive power of the economic crises on set government changes will be examined using “signal approach”. The result showed that the percentage ...

The study investigated the effects of communal crises on selected crops production among farmers in Langtang North local Government Area of Plateau State, Nigeria. Multi-stage sampling technique was adopted; four local government areas were selected in each of the local government selected, four villages affected by communal crises were selected purposively. In two of the villages selected, 24 ...

In this paper, we review three branches of theoretical literature on financial crises. The first one deals with banking crises originating from coordination failures among bank creditors. The second one deals with frictions in credit and interbank markets due to problems of moral hazard and adverse selection. The third one deals with currency crises. We discuss the evolutions of these branches ...

Patients with familial dysautonomia (FD) exhibit orthostatic hypotension as well as recumbent hypertension. In addition, during dysautonomic crises, patients have hypertensive blood pressure that is presumed to be secondary to episodic vasoconstriction, as well as swollen hands that are presumed to be secondary to vasodilatation. This discrepancy in vascular control is poorly understood, yet ma...

In this paper, the authors address three recent organizational crises that have occurred in China; the SK-II cosmetic incident, the Sharon Stone comment on the May 2008 earthquake in China, and the melamine milk contamination crisis. Each held significant notoriety due to the crises involving major companies and an assortment of negative outcomes. After presenting an overview of each case, the ...

Currency crises appear to spread regionally. In this paper we use Bayesian methodology on data from four waves of currency crises in the late twentieth century to examine the mechanism by which currency crises spread from one country to another. In particular, we examine whether trade linkages, “other” unquantifiable linkages proxied for by relative geographical distance, or macroeconomic and f...

nancial crises is one of the gravest threats to an open and liberal international economic order... Recent events in Turkey and Argentina demonstrate that financial crises with potentially profound consequences for economic and political stability are not a thing of the past. They also demonstrate the continued urgency of finding practical and concrete means to handle the crises that do occur.”...

We explain why correlation crises may occur in insurance and finance. These phenomena are not taken into account in Solvency II standard formula. We show the importance of taking them into account in internal models or partial internal models. Given the variety of scenarios that could lead to correlation crises and their different potential impacts, we support the idea that ORSA (Own Risk and S...