%0 Journal Article
%T CAUSAL-CONSEQUENTIAL RELATIONSHIP OF THE FINANCIAL CRISIS AND APPEARANCE OF MACROECONOMIC ENVIRONMENT FACTORS
%A Dragana Ba£¿i£¿
%J Zbornik Radova Ekonomskog Fakulteta u Isto£¿nom Sarajevu
%D 2011
%I Ekonomski fakultet u Isto?nom Sarajevu
%X The financial crisis is manifestedby the continuous process of general and drasticfall in market prices of financial instruments in aparticular market because of increased supply inrelation to their demand for a longer period oftime, followed by a general economic crisis in aneconomy. The state of the financial crisis willinevitably lead to a drop in economic activity,reduced production of goods and services and theirsupply in the market, and with unchanged demand,this is followed by the rise of inflation, increasingunemployment and reducing the existing moneyvalue, namely, the falling rate of the domesticrelative to the foreign currency. Historical aspectof observations of previous financial crises putsforward some of their basic, commoncharacteristics. The negative market fluctuationthat can be characterized as the financial crisis isone that is of system character, encompassing themajor part of the financial market and its structure(the participants, instruments, financial systems). Inaddition, each financial crisis is characterized byits longevity and cycles or events in a long timesince the short-term disturbances cannot be calleda crisis, with varying fluctuation and intensity in afew specific cycles. In theory and practice, thecauses of economic character are indicated as thekey causes for financial crisis, because it isconsidered that non-economic reasons do not havelasting character, as they quickly come and quicklygo. Inevitable effects and consequences of financialcrisis are almost always certain innovationsmanifested in the form of new products, processesor the emerging of new markets, and according tosome opinions, they are often their key causes.However, does the above mentioned alsocharacterize the financial crisis of a postmodernera? This paper explores the causal link betweenappearance and development of economic orfinancial crises and macroeconomic environmentfactors such as economic cycles, energy factor andfactors of political and economic environment ofthe nation and their impact on the disruption in theglobal economy.
%K Financial crisis
%K economic cycles
%K the development trend of the economy
%K the energy crisis
%K a new financial order
%K Dollar alchemy
%U http://www.ekofis.org/images/dokumenti/Aktivnosti/zr2011/Dragana%20Basic.pdf