Tomczak, Kamila (2022) Transmission of the 2007-2008 Financial Crisis in Advanced Countries of the European Union. Bulletin of Economic Research, 74 (1). ISSN 0307-3378
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Abstract
The aim of this paper is to identify the main factors responsible for the 2007-2008 crisis development and transmission across the 10 developed European Union countries. In order to achieve this objective, trade and financial linkages, crisis contagion from the US and EU countries and countries’ internal and external economic vulnerabilities are examined. The results of logistic regression model covering the period from 2002 to 2012 presented in this paper indicate that the transmission of the crisis occurred through contagion from the US but also from other EU countries. Additionally, the empirical results confirm that high inflation, a decrease in the exchange rate and a decrease in the US long-term interest rates increased the probability of the 2007-2008 financial crisis.
| Item Type: | Article |
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| Additional Information and Comments: | This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited. © 2022 The Authors. Bulletin of Economic Research published by Trustees of the Bulletin of Economic Research and John Wiley & Sons Ltd. |
| Keywords: | 007-2008 financial crisis, transmission of financial crisis, contagion of financial crisis |
| Faculty / Department: | Faculty of Business, Law and Criminology > Liverpool Hope Business School |
| Depositing User: | Kamila Tomczak |
| Date Deposited: | 04 Apr 2022 15:29 |
| Last Modified: | 26 Jun 2023 14:51 |
| URI: | https://hira.hope.ac.uk/id/eprint/3516 |
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