Introduction
The term financial crisis has been used broadly to several situations whereby some financial institutions or assets face a sudden loss in a huge part of their value. The 19th and 20th centuries have encountered bank panics and recessions (Kindleberger & Aliber, 2005). Other situations related to financial crises include stock market crashes as earlier witnessed in the United States and bursting of financial bubbles, sovereign defaults and currency crises. What has been considered as the global financial crisis began in the United Kingdom and the United States of America following a significant standstill in the global credit market in July 2007. However, ...
