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| N° 19 |
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| Summer 2003 |
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| The Bursting Financial
Bubble and Balance Sheet Restructuring of the Corporate Sector in the United
States and Europe |
| Bronka Rzepkowski |
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| The financial crisis from March 2000 onwards
is related to the dynamics of asset prices and broad credit, in a context
of low inflation. Since the stock market bubble burst, some balance sheet
restructuring of the corporate sector has been necessary to reduce indebtedness
and the value of the “goodwill” that appeared during the wave
of mergers and acquisitions in the late 1990s. This is a prerequisite for
investment to recover. |
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