Departmental Bulletin Paper The Global Financial Tidal Wave and its Influence on the East Asian Economy


48 ( 1 )  , pp.1 - 24 , 2016-11-15 , 関西大学社会学部
In this article, I first clarify the basis of the development of the crisis in the structure of the US housing loan market. Next, I discuss the sequence of the events marking the progress of the crisis, including the collapse of the subprime loan market, the bankruptcy of mortgage banks, the bail-out of Freddie Mac, Fannie Mae, and AIG by the US government, the economic crisis of Iceland and developing nations, and the downfall of GM and Chrysler. In the latter half of the paper, I analyze the impact of the crisis on the East Asian economy. In conclusion, let me consider the implications of this crisis and the outlook of the world economy.

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