The Great Global Financial Crises: official investigations, past and present, 1929-2011
This paper has been included in the publication
“Ideas towards a new international financial architecture?”
In the present essay we review a set of enquiries and reports that were realized and published as a result of the major financial crises of the past and of the contemporary era. These documents generally address the issue of the causes of collapse of bank and capital markets but also shed light on regulations proposed at different points in time to improve financial stability. We begin with reference to official investigations on the crisis of 1929 and the subsequent bank crises in the Great Depression which we compare with those on spawned by the Global Financial Collapse of 2008, which has produced the greatest outpouring of these types of investigations and publications It is our hypothesis that one important avenue for a historical understanding of the great financial debacles of the past consists in a careful evaluation of official literature and documents that can complement the theoretical approaches of economists in search of explanations for these events.
Carlos Marichal, El Colegio de México