the recent turmoil in global financial markets, associated with the u.S. subprime mortgage crisis, has raised important questions about the stability and integrity of the new international financial structure. these events represent the first real stress test of the world’s financial system since the late 1990s when the asian financial crisis, Russian debt default, and long-term capital Managem...

This paper quantitatively analyzes the economic resilience of resource-based cities (RBCs) in Northeast China in terms of resistance and recoverability during two economic crises: the Asian financial crisis and the global financial crisis. Moreover, it analyzes the main factors that affected regional resilience. There are three main findings. First, the RBCs in general demonstrated poor resista...

The authors performed a comprehensive time series segmentation study on the 36 Nikkei Japanese industry indices from 1 January 1996 to 11 June 2010. From the temporal distributions of the clustered segments, we found that the Japanese economy never fully recovered from the extended 1997– 2003 crisis, and responded to the most recent global financial crisis in five stages. Of these, the second a...

in the past few decades, capitalist economic system has witnessed different financial crises the most important of which is the 2008 financial crisis. the crisis had different causes that the main causes are innovations and financial assets without actual backing (real underlying asset) and their developing by financial institutions. namely, financial institutions, especially banks, developed t...

Andy Rose’s paper provides important evidence on the impact on how monetary regimes fared during the recent global financial crisis. The paper has two basic results. First, it shows that the two monetary regimes, hard fixing and inflation targeting, have become surprisingly durable and were able to withstand the stress of the shocks from the global financial crisis. Before the global financial ...

The recent global financial crisis once again revealed the harmful effects of interest-based contracts in the conventional financial system. Islamic finance, as an alternative financial system, discourages interest rate and debt financing. This paper investigates the effects of two financial systems, namely the conventional and Islamic systems, on macroeconomic variables. To achieve this goal, ...

The role of Network Theory in the study of the financial crisis has been widely spotted in the latest years. It has been shown how the network topology and the dynamics running on top of it can trigger the outbreak of large systemic crisis. Following this methodological perspective we introduce here the Accounting Network, i.e. the network we can extract through vector similarities techniques f...

The research on spillover effect in financial markets is frontier theory and technology. The global financial crisis of 2007-2009 affects the stock markets deeply. But, the economic consequences are different among some cross-markets. As an emerging high-speed growth securities market established in 1990, the Chinese securities market has developed significantly. Again in the current internatio...