Economy

Economic Crises in History

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Source:LLM Generated
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Crisis
Year
Region
Primary Cause
Duration (Years)
Dutch Tulip Mania
1637NetherlandsSpeculative bubble in tulip bulb futures1
South Sea Bubble
1720United KingdomStock speculation in South Sea Company2
Mississippi Bubble
1720FranceOvervaluation of Mississippi Company shares2
Panic of 1837
1837United StatesSpeculative lending and bank failures7
Long Depression
1873GlobalPost-railroad bubble collapse and bank failures23
Panic of 1907
1907United StatesFailed copper market speculation and bank runs1
Great Depression
1929GlobalStock market crash, bank failures, monetary contraction10
1973 Oil Crisis
1973GlobalOPEC oil embargo and quadrupling of oil prices2
1979 Energy Crisis
1979GlobalIranian Revolution disrupted oil supply3
Latin American Debt Crisis
1982Latin AmericaExcessive sovereign borrowing and rising US interest rates8
Black Monday
1987GlobalComputerized trading and portfolio insurance selling cascade1
Japanese Asset Bubble Burst
1991JapanCollapse of inflated real estate and stock prices20
Mexican Peso Crisis (Tequila Crisis)
1994Mexico / Latin AmericaSudden peso devaluation and capital flight2
Asian Financial Crisis
1997East AsiaCurrency speculation, hot money outflows, and pegged exchange rates2
Russian Financial Crisis
1998RussiaRuble devaluation, debt default, and oil price collapse2
Dot-com Bubble Burst
2000United States / GlobalOvervaluation of internet companies with no revenue3
Argentine Economic Crisis
2001ArgentinaFixed exchange rate collapse and sovereign debt default4
Global Financial Crisis
2008GlobalSubprime mortgage collapse, bank insolvency, credit freeze3
European Sovereign Debt Crisis
2010EuropeExcessive government debt in Greece, Portugal, Ireland, Spain5
Chinese Stock Market Crash
2015ChinaMargin trading bubble and panic selling1
Turkish Currency Crisis
2018TurkeyUnorthodox monetary policy, high inflation, and capital flight2
COVID-19 Recession
2020GlobalPandemic lockdowns halted economic activity worldwide2
Sri Lankan Economic Crisis
2022Sri LankaForeign reserve depletion, debt default, and policy mismanagement2
UK Gilt Market Crisis
2022United KingdomUnfunded tax cuts triggered bond market panic1
US Banking Crisis (SVB)
2023United StatesInterest rate risk, unrealized bond losses, and bank runs1

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