THEORETICAL FOUNDATIONS OF THE EMERGENCE OF INTERNATIONAL FINANCIAL CRISES
DOI:
https://doi.org/10.5281/zenodo.22142407Keywords:
international financial crisis, global economy, financial market, banking system, bank liquidity, mortgage lending, securities market, financial stability, macroprudential policy, monetary policy, economic growth, globalization, investment, credit market, financial risksAbstract
This article provides a scientific analysis of the theoretical foundations of international financial crises, their causes, stages of development, and impact on the global economy. The study examines the main factors contributing to the emergence of financial crises, including liquidity problems in the banking system, excessive expansion of lending, speculative operations in financial markets, imbalances in securities markets, and macroeconomic instability. Using the global financial crisis of 2008–2009 as an example, the article analyzes the economic consequences of the crisis and evaluates the adaptation of the Uzbek economy to these processes, as well as the effectiveness of the anti-crisis economic policies implemented during this period. The findings demonstrate that improving macroprudential policy, strengthening financial supervision, and ensuring the stability of the banking system are of significant importance for preventing international financial crises and minimizing their negative effects on national economies.Downloads
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