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List of Recessions
This is a list of notable
recessions,
depressions and downturns. All dates are
approximate as the recessions began and ended in different parts of
the world at different times. Also note that before detailed economic
statistics began to be gathered in the nineteenth century it was very
difficult to tell when recessions occurred, but prior to
industrialization, economic downturns usually coincided with problems
in agriculture.
-
Panic of 1837 - 1837 to
1843, a sharp downturn in the American economy caused by bank
failures and lack of confidence in the paper currency
-
Panic of 1857 - 1857 to
1860, failure of the Ohio Life Insurance and Trust Co. bursts a European speculative
bubble in U.S. railroads and loss of confidence in U.S. banks
-
Panic of 1873 - economic
problems in Europe prompt the failure of Jay Cooke & Company, the
largest bank in the U.S., bursting the post-Civil War speculative
bubble
-
Long Depression - 1873 to
1896, begins with the collapse of the Vienna Stock Exchange and
spreads throughout the world. Some historians do not believe it is
actually one large recession.
-
Panic of 1893 - 1873 to
1896, failure of the U.S. Reading Railroad and withdrawal of
European investment leads to a stock market and banking collapse
-
Panic of 1907 - A run on
Knickerbocker Trust Company stock October 22nd 1907 sets events
in motion that will lead to a depression in the United States.
-
Post-WWI recession - marked
by severe
hyperinflation in Europe over production in North America. Very
sharp, but also brief.
-
Great Depression - 1929 to
late 1930s, stock market crash, banking collapse, and overproduction
in the United States sparks a global downturn, including a second
downturn 1937–1938.
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1973 Oil Crisis - 1973, an
oil embargo by
OPEC coupled with high government spending due to the Vietnam
War leads to
stagflation in the United States.
-
1979 energy crisis - 1979
until 1980, the Iranian Revolution sharply increases the price of
oil
-
Late 1980s recession - 1987
to early 1990s, collapse of
junk bonds and a sharp stock crash in the United States leads to
a recession in much of the West
-
Japanese recession
- 1991 to present, collapse of a real estate bubble and more
fundamental problems halts Japan's once astronomical growth
-
Asian financial crisis -
1997, a collapse of the Thai currency inflicts damage on many of the
economies of Asia
-
Early 2000s recession -
2000 to 2003: the collapse of the
Dot Com Bubble contributes to a relatively mild contraction in
the North American economy.
See also
External
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