Systemic Financial Crisis: A Cluster Analysis

Nicolae Dardac, Adriana Giba
European Research Studies Journal, Volume XIV, Issue 2, 53-64, 2011
EOI: 10.11214/thalassinos.14.02.003

Abstract:

This study examines the similarities between the current crisis and other systemic crises from the past. The purpose of our research is to discover whether previously used crisis management policies can constitute a referential in choosing the most effective policies for the management of the current crisis.This study highlights important similarities between the current crisis and those that occurred in the past in Norway (1991) and Japan (1997), using a cluster analysis in order to obtain homogeneous groups of crises.. Also, through a qualitative analysis of crisis management policies, the study stresses the need to learn from past lessons.


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