Studying the Financial Crisis

Abstract

In this series of articles, we examine the intricate dynamics of financial crises, their causes, impacts, and lessons learned from historical events.

The first article, by Riya, Mehak Jindal, and Kayana Agarwal, explores the 2008 Global Financial Crisis, detailing its origins in the U.S. housing market collapse and the subsequent global economic repercussions. The authors analyze key events such as the bankruptcy of Lehman Brothers and the resulting credit freeze that led to widespread unemployment and government interventions.

The second article, authored by Manya Mudgil, Radhika Goyal, Soni Kumari, and Jessica Jawa, focuses on the 1991 Indian Economic Crisis. It discusses how excessive imports and fiscal mismanagement precipitated a balance of payments crisis that forced India to adopt significant economic reforms. The authors highlight the transformative impact of these reforms on India's economy and its shift towards liberalization.

The third article, edited by Devananda S, examines the COVID-19 pandemic's economic fallout. It analyzes how this health crisis triggered a global recession akin to previous financial downturns while emphasizing the unique challenges posed by supply chain disruptions and rising public debt.