plus increase in flexible, plus semi-legal employment with less regard for workers rights and without access to redundancy packages Li-yu Song (2013). Robert T. Clair and Paula Tucker (1993) identified six causes of credit crunch “Reductions in bank capital, failure of depository institutions as well as Bank supervision, New credit standards set by banks, Failure of Regulatory mechanisms, Increased legal Cost .Credit crunch resulted in loss of 15 trillion dollars worldwide, this is believed to be stemmed…
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