THE ECONOMIC CRISIS AND “THE GREAT RECESSION”

Maria Papadima

Abstract

Economic crises are common as instability is an inherent feature of the economic system. The purpose of the following paper is to present the impact the financial crisis in 2008 had on the worldwide markets and economies. A bibliographic review of the subject is presented to provide the reader with more integrated knowledge about the conceptual framework of the economic crisis. Special emphasis is given to the content of the economic crisis, the causal factors that contribute to the outbreak of the economic crises and the effects that they may have, as well as the different types of economic crises to come to the impactful financial crisis in 2008. Finally, an attempt is made to research the origins and the key events that triggered its beginning and spread to the whole world.

Keywords: economic crisis; economic cycles; financial crisis 2008; causes

JEL Codes: E32; E34; G01; G15

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To cite this article: Papadima M. (2023). The economic crisis and “the great recession”. Entrepreneurship, 11 (1), 61-78 DOI: 10.37708/ep.swu.v11i1.6