Financial Crises, 1929 to the Present

Financial Crises, 1929 to the Present

Sara Hsu

This fascinating volume offers a comprehensive synthesis of the events, causes and outcomes of the major financial crises from 1929 to the present day. Beginning with an overview of the global financial system, Sara Hsu presents both theoretical and empirical evidence to explain the roots of financial crises in general. She then provides a thorough breakdown of a number of major crises of the past century, both in the United States and around the world.

Chapter 3: 1950s through 1970s: the inter-crisis period

Sara Hsu

Subjects: economics and finance, economic psychology, financial economics and regulation


The 1950s through 1970s inter-crisis period was the exception rather than the rule, for preventing crisis took a great deal of global coordination and effort that could not be maintained in the face of countries’ individual pursuit of sovereign policies. We first look at the Bretton Woods regime that existed during the 1950s and 1960s, then turn to the post-Bretton Woods oil shocks that caused an economic recession in the 1970s.

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