Impact of Globalization on Financial Crisis and its Propagation

Bogna Gawrońska-Nowak; Grzegorz Walerysiak

doi:10.18778/1508-2008.8.08

Authors

Bogna Gawrońska-Nowak
Grzegorz Walerysiak

DOI:

https://doi.org/10.18778/1508-2008.8.08

Abstract

The financial crises are still unexpected and very harmful phenomenon. One of the reasons for the harmfulness of the crises is a fact that it can hit an innocent country. It is called contagion effect. The crises can be transmitted through different channels like trade or financial one. It is very interesting to find out an impact of globalisation on those channels and indirectly on the financial crisis shape. We try to show that for some pagination channel like trade channel globalisation should be seen as a factor strengthening the role of the channel, on the other hand for channel like financial one the globalisation impact may be distinct, because at least two processes acting in opposite directions may be distinguished.

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