Economics and Business Review

ISSN 2392-1641
e-ISSN 2450-0097

Poznań University of Economics - Poland

Index Copernicus Journal Master List

Polska Bibliografia Naukowa

BazEkon

Ebsco

Proquest

Creaive Commons

Volume 11 Number 1 pp. 64-72

Adam Szyszka

Pozna&#
3

2

4
; University of Economics, Poland

Genesis of the 2008 global financial crisis and challenges to the neoclassical paradigm of finance

Abstract: The paper presents the genesis of 2008 global financial crisis, discusses systemic changes in the financial world, and rises the question about the need for the new paradigm of finance in the lieu of the witnessed turbulent processes. A hypothesis is formulated that the neoclassical theory of finance lost its credibility due to systemic changes that have happened within institutions, markets, and instruments over the last three decades. It is suggested that the theory should be modified in line with dynamically changing financial environment. Conclusion is reached that an interdisciplinary approach is needed in the search for an adequate theory of finance. (original abstract)
pub/2011_1_64.pdf Full text available in in Adobe Acrobat format:
http://www.ebr.edu.pl/volume11/issue1/2011_1_64.pdf
Keywords: Financial crisis, Financial markets, World economy, Kryzys finansowy, Rynki finansowe, Gospodarka światowa

For citation:

MLA Szyszka, Adam. "Genesis of the 2008 global financial crisis and challenges to the neoclassical paradigm of finance." Economics and Business Review EBR 11.1 (): 64-72.
APA , (). Genesis of the 2008 global financial crisis and challenges to the neoclassical paradigm of finance. Economics and Business Review EBR 11(1), 64-72
ISO 690 SZYSZKA, Adam. Genesis of the 2008 global financial crisis and challenges to the neoclassical paradigm of finance. Economics and Business Review EBR, , 11.1: 64-72.