An Analysis of Historical Economic Crises and their Impact on National Economies

Are Economic Crises unique events or are they an inevitable reflection of the natural cyclical rhythms of a country’s economy?

• Select an historical economic crisis for an individual country from the list provided.

• Please choose one from either the 20th or 21st Century examples: https://en.wikipedia.org/ wiki/List_of_economic_crises

• Focus on one economic crisis in the context of a country’s economic performance over time.

• What constitutes an economic crisis?

• How do we measure a recession?

• How often have finical crises occurred in your country of choice?

• Do they have common drivers/characteristics or are they all different?

• Economic Overview and Health: What was the economic health of the country prior to the crisis. How were its financial markets performing (bond and equity markets)? Who were the key financial players in the market? What industry sectors dominate this economy?

• Monetary Policies: What monetary policies were being applied at the time by government and central banks to keep the economy under control?

• Financial Institutions: What type of financial strategies were being implemented by financial institutions and businesses?

• Warning Signs: Were there any warning indicators that a crisis was imminent?

Consider the subject from both a Contemporary Perspective and a Hindsight Perspective.

• What were the drivers of the boom and bust?

• What monetary policies contributed to this occurring.

• From a contemporary view point, was it obvious a crisis was coming?

• From hindsight perspective, were there any indicators that suggested a crisis was coming?

• What actions did financial institutions and central bank policy makers take in response to the market’s movements? At the time were they the correct response? With the benefit of hindsight, were they the right thing to do?

• What recovery plans were implemented?

• Were they successful?

• Did these plans contribute to future recessions/downturns/crises in that market?

• What lessons were learned from the crisis?

• What policies and approaches to finance changed as a result of the crisis?

• Were the recovery plans effective, or were they temporary solutions to a larger problem?

• Have similar problems occurred in this country’s economy before and were lessons learned then or failures simply repeated?

Conclusion:

Do these insights help you come to a conclusion to answer the question?

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