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- Title
GLOBAL FINANCIAL CRISIS AND ITS IMPACT ON LITHUANIAN ECONOMY.
- Authors
Račickas, Evaldas; Vasiliauskaitė, Asta
- Abstract
Importance of the stability of financial system becomes very significant when country's economy faces the crisis. The financial crisis is not just a phenomenon of recent decades, so it is important to pay attention to it. Each country specific fluctuations in the economy are known as the economic upswing and downturn. When the prolonged downturn proceeds, it is said that a very serious crisis occurs. The crisis that began in the second quarter of 2007 in the United States soon spread all over the world, and therefore took the name "global crisis". Global financial crisis has undoubtedly hit Lithuanian economy too. In this article theoretical aspects of the concept of the financial crisis and financial crises' types are delivered, the most important types of macroeconomic indicators of the country affected by the economic crisis are discussed and the 2009 year's global financial crisis impact on Lithuanian economy is presented.
- Publication
Economics & Management, 2010, p1006
- ISSN
1822-6515
- Publication type
Academic Journal