Financial crises are not a qualitatively new phenomenon for the world economy. At the time, some researchers have already drawn attention to the fact that since 1973, compared with the period of the Bretton-Woods system and the gold standard, the frequency of crises has almost doubled, and the intensity of modern crises corresponds to the fact of what was a crisis of 1920 and 1930 years. Thus, the history shows that in our time there has been occurred something very peculiar and disturbing (Fried, J., 2012). Modern financial crisis began in the US real estate market in 2007 and Continue reading...
