The Global Financial Crisis: Predictions, Causes, Effects, Policies, Reforms and Prospects

The paper examines the causes, effects, policies, and the prospects for rapid recovery and growth after the deepest world financial and economic crisis since the Great Depression. The paper then examines the regulatory and supervisory systems in the United States and Europe before the crisis, the proposed reforms of those systems, as well as reforms of the entire world financial system, and the likelihood that those reforms will succeed in preventing future financial crises.