Global Financial Crisis Business & Marketing Essay (Essay Sample)

Global Financial CrisesStudent’s Name Institution
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Contents TOC \o "1-3" \h \z \u Introduction PAGEREF _Toc481758393 \h 3Causes PAGEREF _Toc481758394 \h 4Consequences PAGEREF _Toc481758395 \h 5Counteraction Using Economic Policies PAGEREF _Toc481758396 \h 6Effectiveness and Limitations of Macroeconomic Responses PAGEREF _Toc481758397 \h 8References PAGEREF _Toc481758398 \h 10
Introduction
The name “Global Financial Crisis” (GFC) mutated during April 2007 and September 2008 and became the world’s most virulent financial or banking crisis to have occurred in 80 years (Ariff, Farrar & Khalid, 2012, p. 53). This was after the 1930’s economic recession. Ever since, the Global Financial Crisis has ravaged the world’s economies. The GFC has shaved the world income by around US $ 800 billion since 2008. Slowed economic growth has been considerably experienced as well since 2008. Some of the major financial players have been hollowed out since in the USA, the UK and the rest of the world.
The Global Financial crisis reminds us of how crises are interrelated. These crises have adverse effects to almost every nation-the rich, poor, small, and large economies. Crises usually originate domestically or externally and extend to private and public sectors. Crises evolve with time into different forms and can spread to other countries within a short span of time. When crises occur, immediate interventions are the key reactions to them. These responses include initiating changes in the financial sector and using fiscal policies. Such measures can make it possible for coordination of policies globally.