الأسواق المالية بين نظرية السوق الكفء و فرضية عدم الاستقرار المالي في ظل الأزمات المالية

الملخص EN

Despite of what was written and said about lessons learnt from the previous crises , whatever kind of crises is repeated without innovation or renewal of mention in its causes.

but on the contrary there are some repeated mechanisms in every crisis.

As a repeated use of fiscal and monetary policies itself , to cope with any economical downturn immediately .

Our aim through this research is to bring out the relationship between the recurrence of financial crisis and the theory of efficient market that underpin our financial markets on the one hand, and its relation to the hypothesis of financial instability, and therefore search in one of the main reasons causing the recurrence of such crisis, and exit true treatment from our perspective and adopt policies that fit the reality of our financial markets.