%0 Book
%A Camelia Oprean Stan
%A Sebastian-Ilie Dragoe
%D 2022
%C Berlin, Germany
%I Peter Lang Verlag
%@ 9783631879474
%T Financial Systems and Economic Crises
%B The Main Determinants of Financial Instability
%R 10.3726/b19738
%U https://www.peterlang.com/document/1255413
%X This book examines the main causes of financial instability and highlights that, with the exception of wars and pandemics, the financial system is the source of the crisis, not just a means of spreading it, as most mainstream experts believe. Based on the following findings, the innovative sections of this book provide academics and policymakers with important and practical knowledge: because negative shifts in the financial system precede recessions, financial indicators can predict the onset of a crisis much earlier than real variables; the proposed recession forecasting model can predict the emergence of the crisis a month in advance. When the economy’s sensitivity to the financial system is reduced, there will be only modest negative economic growth and no true recessions.
%G English