On the Main Challenge of the Current Global Financial and Economic Crisis
Bulletin of the Georgian National Academy of Sciences, Vol. 4, No. 2, 2010
4 Pages Posted: 2 Dec 2012
Date Written: December 2, 2012
The contemporary financial crisis has transformed into economic crisis. The occurrence of financial crises has encouraged the emergence of a kind of routine which guarantees the stability of a government’s bailout programmes implemented through the banking sector in support of de-facto bankrupt firms. As a result, a network of zombie-banks and zombie-firms develops upon which the entire system of a zombie-economy rests. It is of great importance, therefore, the extent to which a government will go to continue supporting insolvent companies and banks in the post crisis period and to what extent it will facilitate simplifying the bankruptcy procedures.
Keywords: global financial and economic crisis, necroeconomy, zombie-economy, bankruptcy law
JEL Classification: P12, P16, P23, P26
Suggested Citation: Suggested Citation