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Ten years is a good time to reflect on the crash of Lehman Brothers and the financial crisis of 2008. It raises questions on how economic policy has evolved, is the world better prepared to handle another crisis, etc. Here are a series of opinion and related articles from Moneycontrol on this issue.
How global financial crisis altered the course of economic thinking
Unlike the Great Depression, the 2008 recession might not have led to a new economic thinking; but the resurrection of older ideas, especially that of inequality, is quite a movement by itself, writes Amol Agrawal here.
Also read — Opinion | Global financial crisis imparted lessons that no textbook could ever offer
Three investment lessons from the 2008 financial crisis
There’s a belief that “India is a different story and we have a long runway”. It is always prudent to remember that the worst skids happen on the best of runways, writes Shyam Sekhar here.
Lehman crisis 101: An introduction to the worst financial crisis since the Great Depression
The collapse of the storied US investment bank Lehman Brothers on September 15, 2008, worsened the sense of panic in an already jittery financial system. As the contagion spread, governments and central banks scrambled to come up with unconventional measures to restore confidence.
Moneycontrol explains some basic terminology and questions on the crisis which shook the world here.
Also read — Lehman crisis 101: An introduction to the worst financial crisis since the Great Depression
What C-Suite executives should learn from global financial crisis
I was in the vortex of the crisis. From the vantage point of being both closely associated with companies and as a fund manager, my learnings were unique and insightful. Surprisingly, most takeaways were to do with the basic principles of finance. Ironically, it was actually the education imparted by storied MBA programs which led to most of the mistakes committed in that period, writes Prabal Basu Roy here.
Also read — 10 years since Lehman collapse: Money lessons to protect you during a meltdown
2008 global financial crisis had a part to play in Indian banks’ NPA problems
Would India have faced the current crisis had there been no global financial crisis? Probably yes. But the crisis created a conducive environment by way of easy policies and abundant liquidity, writes Arundhati Bhattacharya here.
Also read — 2008 financial crisis affected emerging markets more than expected: D Subbarao
Decade after 2008 crisis is a missed opportunity for structural reforms in the Indian financial sector
The short-term effect of the crisis of 2008 on India may have been muted. This is largely attributable to the un-integrated and underdeveloped nature of the Indian financial markets. What it does not mean is that being under-developed can remain a strategic policy. These ten years may well present a missed opportunity for implementing long-term structural reforms, write Somasekhar Sundaresan and Bhargavi Zaveri here.
Also read — Lehman crisis: Here's what it meant for India
Global financial system in a better place since the 2008 crisis, but far from perfect
A lot of leveraged finance has moved from the traditional banking sector to investment banks, private equity funds and the so-called shadow banking system that are less regulated, and borrow from classical banks, writes Philippe Gijsels here.
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