International Journal of Commerce and Management Research

International Journal of Commerce and Management Research






ISSN: 2455-1627


International Journal of Commerce and Management Research
International Journal of Commerce and Management Research
Vol. 6, Issue 3 (2020)

The global financial crisis


CA Varnit Garg

A financial crisis is associated with a panic during which investors sell off assets or withdraw money from accounts because the assets value drop, businesses and consumers are unable to pay debts, and financial institutions experience liquidity crunch. When such crisis spread worldwide, it is known as Global Financial Crisis. Since ages there are various reasons why financial markets see a fallout just originating from a single or a group of countries together. But stock markets are driven by just two emotions: greed and fear. This paper attempts to model reasons and impact of the major financial crisis in the history which affected various economies in different ways. To be precise, financial crisis discussed in the report are: The Great Depression (1929-1939), the Black Monday (1987), the Dot Com bubble (1998-2003), the great Global Financial Crisis (GFC) (2007-2009) and the Coronavirus pandemic (2019). Till March 2020, the GFC (2007-09) was the worst meltdown over economic markets. But, impact by recently emerged Coronavirus pandemic is likely to break all records.
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