Financial Crisis

Business, Legal & Accounting Glossary

Definition: Financial Crisis

Full Definition of Financial Crisis

A financial crisis is a period punctuated by financial volatility in stock markets, financial institutions, and currencies.

Asian Financial Crisis

This occurred in 1997 and 1998. Thailand and Indonesia were the countries that were hit hardest, but contigation spread throughout Asia, affecting every country there.

US Financial Crisis

In late 2008, the US started falling into a financial crisis, and much of the world began to follow. Fears of recession ensued and bailouts were necessary to keep markets alive. This crisis began from the credit crunch and subprime lending ordeal earlier in the year.

Cite Term

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Page URL
Modern Language Association (MLA):
Financial Crisis. Payroll & Accounting Heaven Ltd. September 28, 2021
Chicago Manual of Style (CMS):
Financial Crisis. Payroll & Accounting Heaven Ltd. (accessed: September 28, 2021).
American Psychological Association (APA):
Financial Crisis. Retrieved September 28, 2021, from website:

Definition Sources

Definitions for Financial Crisis are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th March, 2020 | 3 Views.