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The Global Financial Crisis: what have we learned so far?

Karyn L. Neuhauser (Department of Economics & Finance, Lamar University, Beaumont, Texas, USA)

International Journal of Managerial Finance

ISSN: 1743-9132

Article publication date: 7 April 2015

4658

Abstract

Purpose

The purpose of this paper is to provide a cohesive review of the major findings in the literature concerning the Global Financial Crisis.

Design/methodology/approach

Papers published in top-rated finance and economics journal since the crisis up to the present were reviewed. A large number of these were selected for inclusion, primarily based on the number of citations they had received adjusted for the amount of time elapsed since their publication, but also partly based on how well they fit in with the narrative.

Findings

Much has been done to investigate the causes of the Global Financial Crisis, its effects on various aspects of the financial system, and the effectiveness of regulatory measures undertaken to restore the financial system. While more remains to be done, the existing body of research paints an interesting picture of what happened and why it happened, describes the interrelationships between the mortgage markets and financial markets created by the large scale securitization of financial assets, identifies the problems created by these inter-linkages and offers possible solutions, and assesses the effectiveness of the regulatory response to the crisis.

Originality/value

This study summarizes a vast amount of literature using a framework that allows the reader to quickly absorb a large amount of information as well as identify specific works that they may wish to examine more closely. By providing a picture of what has been done, it may also assist the reader in identifying areas that should be the subject of future research.

Keywords

Acknowledgements

JEL Classification — G1

Citation

Neuhauser, K.L. (2015), "The Global Financial Crisis: what have we learned so far?", International Journal of Managerial Finance, Vol. 11 No. 2, pp. 134-161. https://doi.org/10.1108/IJMF-02-2015-0014

Publisher

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Emerald Group Publishing Limited

Copyright © 2015, Emerald Group Publishing Limited

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