THE IMPACT OF THE 2008 GLOBAL CRISIS ON THE DEPTH OF THE FINANCIAL SYSTEM
This study examines how the depth of the financial system around the world have changed before, during, and after the 2008 Global Crisis. In total, we examine nine variables related to the depth of the financial system. Two of these variables are related to the depth of the stock market, four of...
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| Language: | English |
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Academica Brâncuşi
2021-10-01
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| Series: | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
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| Online Access: | https://www.utgjiu.ro/revista/ec/pdf/2021-05/01_Halil.pdf |
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| _version_ | 1846160815119400960 |
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| author | HALIL D. KAYA |
| author_facet | HALIL D. KAYA |
| author_sort | HALIL D. KAYA |
| collection | DOAJ |
| description | This study examines how the depth of the financial system around the world have changed before, during, and
after the 2008 Global Crisis. In total, we examine nine variables related to the depth of the financial system. Two of
these variables are related to the depth of the stock market, four of them are related to outstanding amounts of public
and private debt, one variable is related to the amount of international debt offerings, and four variables are related to
the amount of equity and debt instruments in portfolios. When we examine the year preceding the crisis, we find that
two of the variables had changed significantly. These are the “stock market capitalization” and the “stock market total
value traded” variables. Both of these variables had gone up significantly before the crisis. We do not see any
significant change in the other nine variables. When we examine the crisis period, we find that the “stock market
capitalization” started to go down and also the “gross portfolio equity liabilities” went down significantly. None of the
other variables had changed during the crisis period. Finally, when we examine the year following the crisis, we find
that “stock market capitalization” went down significantly. None of the other variables had changed significantly
during the year following the crisis. Policymakers can use these findings to evaluate the chances of a new crisis
happening and also to take precautions beforehand. |
| format | Article |
| id | doaj-art-0864d1a6135a437ab8a596b635d6aa0f |
| institution | Kabale University |
| issn | 1844-7007 2344-3685 |
| language | English |
| publishDate | 2021-10-01 |
| publisher | Academica Brâncuşi |
| record_format | Article |
| series | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
| spelling | doaj-art-0864d1a6135a437ab8a596b635d6aa0f2024-11-21T17:47:07ZengAcademica BrâncuşiAnalele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie1844-70072344-36852021-10-0115518THE IMPACT OF THE 2008 GLOBAL CRISIS ON THE DEPTH OF THE FINANCIAL SYSTEM HALIL D. KAYA0PROFESSOR OF FINANCE, NORTHEASTERN STATE UNIVERSITY, This study examines how the depth of the financial system around the world have changed before, during, and after the 2008 Global Crisis. In total, we examine nine variables related to the depth of the financial system. Two of these variables are related to the depth of the stock market, four of them are related to outstanding amounts of public and private debt, one variable is related to the amount of international debt offerings, and four variables are related to the amount of equity and debt instruments in portfolios. When we examine the year preceding the crisis, we find that two of the variables had changed significantly. These are the “stock market capitalization” and the “stock market total value traded” variables. Both of these variables had gone up significantly before the crisis. We do not see any significant change in the other nine variables. When we examine the crisis period, we find that the “stock market capitalization” started to go down and also the “gross portfolio equity liabilities” went down significantly. None of the other variables had changed during the crisis period. Finally, when we examine the year following the crisis, we find that “stock market capitalization” went down significantly. None of the other variables had changed significantly during the year following the crisis. Policymakers can use these findings to evaluate the chances of a new crisis happening and also to take precautions beforehand.https://www.utgjiu.ro/revista/ec/pdf/2021-05/01_Halil.pdfeconomic crisisglobal crisisfinancial crisisfinancial marketsstock marketequitydebtdepth |
| spellingShingle | HALIL D. KAYA THE IMPACT OF THE 2008 GLOBAL CRISIS ON THE DEPTH OF THE FINANCIAL SYSTEM Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie economic crisis global crisis financial crisis financial markets stock market equity debt depth |
| title | THE IMPACT OF THE 2008 GLOBAL CRISIS ON THE DEPTH OF THE FINANCIAL SYSTEM |
| title_full | THE IMPACT OF THE 2008 GLOBAL CRISIS ON THE DEPTH OF THE FINANCIAL SYSTEM |
| title_fullStr | THE IMPACT OF THE 2008 GLOBAL CRISIS ON THE DEPTH OF THE FINANCIAL SYSTEM |
| title_full_unstemmed | THE IMPACT OF THE 2008 GLOBAL CRISIS ON THE DEPTH OF THE FINANCIAL SYSTEM |
| title_short | THE IMPACT OF THE 2008 GLOBAL CRISIS ON THE DEPTH OF THE FINANCIAL SYSTEM |
| title_sort | impact of the 2008 global crisis on the depth of the financial system |
| topic | economic crisis global crisis financial crisis financial markets stock market equity debt depth |
| url | https://www.utgjiu.ro/revista/ec/pdf/2021-05/01_Halil.pdf |
| work_keys_str_mv | AT halildkaya theimpactofthe2008globalcrisisonthedepthofthefinancialsystem AT halildkaya impactofthe2008globalcrisisonthedepthofthefinancialsystem |