The global financial crisis of 2007–8 and its implications
in The UK financial system (fifth edition)
Abstract only
Log-in for full text

You are not authenticated to view the full text of this chapter or article.

manchesterhive requires a subscription or purchase to access the full text of books or journals - to see content that you/your institution should have access to, please log in through your library system or with your personal username and password.

If you are authenticated and think you should have access to this title, please contact your librarian.

Non-subscribers can freely search the site, view abstracts/extracts and download selected front and end matter. 

Institutions can purchase access to individual titles; please contact for pricing options.


If you have an access token for this content, you can redeem this via the link below:

Redeem token

The global financial crisis of 2007-8 was a hugely significant event that had profound implications for the regulation of banks as well as for the wider financial system. This chapter examines the causes of financial crises in general and the specific causes of the global financial crisis in 2007-8. The specific causes of the 2007-8 include the growth of macro-imbalances; inappropriate monetary policy; sub-prime mortgages and the US housing bubble; financial innovation, in particular the process of securitisation; and the failure of regulation. The 2007-8 crisis had such far-reaching consequences for our understanding of risk and the way it is managed in the financial system, as well as consequences for the regulators of the system. In examining the global crisis of 2007-8, the chapter explores whether it was different from previous crises. It also explains the immediate response to the crisis from regulators and governments.


All Time Past Year Past 30 Days
Abstract Views 62 62 3
Full Text Views 0 0 0
PDF Downloads 17 17 11