Financial market liquidity and the financial crisis: An assessment using UK data

Reference:

Martin, C. and Milas, C., 2010. Financial market liquidity and the financial crisis: An assessment using UK data. International Finance, 13 (3), pp. 443-459.

Related documents:

Official URL:

http://dx.doi.org/10.1111/j.1468-2362.2010.01269.x

Abstract

A steady increase in financial market liquidity followed by a rapid reduction played a central role in the financial crisis that began in 2007. We present empirical evidence that the marked rise in liquidity in 2001-07 was due to large and persistent current account deficits and loose monetary policy.

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