Financial Risks: Causes and Impacts on the Occurrence of Financial Crises

Changes in capital market technology have occurred at the level of technologies and financial instruments available in the financial market. These changes have been internationalized, increasing the flow of capital and deepening financial market integration on a global scale. The spread of electronic money transfers and the availability of sophisticated information networks have enabled funds to flow from one country to another very quickly. This has led to an increase in market vulnerabilities that can affect other financial markets. This phenomenon, characterized by a new trend of financial globalization and liberalization, has resulted in the emergence of fragile financial systems that are now susceptible to numerous risks and crises.