This briefing is the first in a series that examines the causes and effects of the global recession and presents key lessons for policy makers and business leaders.
Lessons From the Recession: Overview—What Caused the 2008–09 Financial Crisis and Recession?
Lessons From the Recession: Overview—What Caused the 2008–09 Financial Crisis and Recession?
Canadian Economic Analysis
Global Economic Analysis
$85.00
On September 15, 2008, global financial services giant Lehman Brothers went under. In the weeks and months that followed, global capital flows and trade flows spiralled downward, and a vicious cycle of credit withdrawal, halting of investment, weaker growth, and debt impairment took hold. These developments eventually resulted in the first synchronized global recession since the 1940s. This briefing looks at the events that led to the crisis. While the Lehman Brothers collapse was the catalyst, it wasn’t the cause. There were many factors behind the global financial crisis that peaked in the fall of 2008. The combination of a loss of confidence and a loss of access to credit for businesses and consumers created the conditions for recession in the U.S.—a recession that quickly spread around the globe.
Customers Who Downloaded This Also Liked
Require an accessible version of this research?
Upon request, Signal49 Research offers accessible versions of research. Please contact us to request your accessible version.
Learn more about our accessibility policies.
Effective January 26, 2026, AERIC Inc./Signal49 Research discontinued use of ‘The Conference Board of Canada’ name, logo and branding, which had been used by AERIC Inc./Signal49 Research under license from The Conference Board, Inc. The Conference Board, Inc. and its licensees, which are not affiliated with Signal49 Research, own all right, title and interest in THE CONFERENCE BOARD name and trademarks in Canada and have the exclusive right to their use in Canada since January 26, 2026.
