Sample Essay


Financial crisis resulted into poor performances of various economies in the world. On a different perspective, a country’s strength is determined by the value of its currency (Baglioni & Crouch, 1990). There are a number of effects of financial crisis that any country affected will always want to ensure that they take necessary measures to mitigate.

Amongst the various effects of financial crisis include the devaluation of a country’s currency. This leads to poor performance within the international market that brings with it effects on the terms of trade and balance of payment. The overall result of this is diminished economic growth and development, which has various, effects as well (Crouch & Marquand, 1993). In addition, the government’s strategies of trying to solve the financial crisis may involve printing of more money as a monetary policy. On the other hand the decreased value of the currency will always lead to inflation within the country (Albert, 1993).

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