In Search of a New U.S. Economic Path in the Aftermath of the Global Financial Crisis

5 Pages Posted: 6 Sep 2013 Last revised: 21 Oct 2013

See all articles by Bokyeong Park

Bokyeong Park

Kyung-Hee University - Graduate School of Pan-Pacific Studies

Jonghyuk Kim

Korea Institute for International Economic Policy

Hee-Chae Ko

Korea Institute for International Economic Policy

Kyungro Park

Kyungpook National University

Date Written: July 12, 2013

Abstract

The global financial crisis that began in 2008 was, outwardly, a result of the bankruptcy of American financial institutions. The crisis, however, has alerted us to the deeper crisis underlying not only the American financial market, but also the American economy as a whole.

Multiple scholars have pointed out that the recent financial crisis stems not only from the financial sector, but also from the larger structural factors. In light of this claim, this report seeks to reevaluate whether and how the U.S. federal economic policy has been addressing and remedying the structural factors that have led to the current financial crisis.

Our research shows that, while the post-financial crisis federal policy on the economy does evince features that are divergent from those of the past policy, it is yet too early to conclude that a new policy paradigm or a fundamental shift has taken place.

Keywords: Financial reform, New manufacturing policy, New trade policy, Lesislative efficiency

Suggested Citation

Park, Bokyeong and Kim, Jonghyuk and Ko, Hee-Chae and Park, Kyungro, In Search of a New U.S. Economic Path in the Aftermath of the Global Financial Crisis (July 12, 2013). KIEP Research Paper NO. World Economy Update-13-31, Available at SSRN: https://ssrn.com/abstract=2320993 or http://dx.doi.org/10.2139/ssrn.2320993

Bokyeong Park (Contact Author)

Kyung-Hee University - Graduate School of Pan-Pacific Studies ( email )

1 Seochun-ri
Kiheung-eup Yongin-si
Kyunggi-do, 449-701
Korea

Jonghyuk Kim

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Hee-Chae Ko

Korea Institute for International Economic Policy ( email )

[30147] Building C, Sejong National Research Compl
Seoul, 370
Korea, Republic of (South Korea)

Kyungro Park

Kyungpook National University ( email )

Korea, Republic of (South Korea)

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
9
Abstract Views
431
PlumX Metrics