Journal of Financial Stability Vol. 4 No. 4 2008
The sub-prime crisis: A central banker's perspective
Abstract
The crisis is not yet over; the housing market continues to deteriorate and there are spill-overs into other markets. Growth is declining, with potentially self re-enforcing mechanisms between financial markets and the real economy coming into play. A local problem became a global crisis because of poor risk management, lack of transparency and excessive leverage. Not only does the capital base need re-building, but also incentive schemes need reconsideration.
- DOI
- 10.1016/j.jfs.2008.09.012
- Volume
- 4
- Issue
- 4
- Pages
- 313-320
- Language
- en
- Sources
- bibtex:phds-export.bib openalex crossref