General crisis: A sudden modification in the development of a process, leading to a period of instability, tensions, and conflicts. It represents a rupture of equilibrium and ends with a new balance. (source: "crise en général")
Economic crisis: In the strict sense, a process where the cycle's peak is reached and its expansion phase is interrupted. Broadly, it encompasses periods of recession, ending with a new expansion. (source: "crise économique")
Financial crisis: A type of economic crisis specifically affecting the financial aspect, such as markets, banking, or currency. It involves instability in financial markets, banking failures, or currency collapses. (source: "crise financière")
1. According to the typical sequence of crises development, which type of crisis generally occurs first?
2. In the sequence of crisis cycle phases, where does the 'euphoria' phase occur?
3. What are the key phases that characterize the development of a financial crisis?
Types of crises — categories?
General, economic, and financial crises.
Crisis cycle phases — first?
Expansion phase.
Financial crisis development — stages?
Slow growth, boom, euphoria, crisis, decline, recovery.
Crisis factors — high?
Debt levels, financial innovation, demand mismatch.
Economic impact — includes?
Production decline, unemployment, systemic destabilization.
Crisis propagation — mechanisms?
Trade, financial markets, banking contagion.
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