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This is a list of notable recessions, financial crises, 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 were caused by external actions on the economic system like wars and variations of the weather.
Panic of 1837 (1837 - 1843), a sharp downturn in the American economy caused by bank failures and lack of confidence in the paper currency
Long Depression (1873 - 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. It is important to note that during this period the global industrial production greatly increased. In the US for example, industrial output increased 4 times.
Early 1980s recession - 1982 and 1983, caused by tight monetary policy in the U.S. to control inflation and sharp correction to overproduction of the previous decade which had been masked by inflation
Japanese recession - 1991 to present, collapse of a real estate bubble and more fundamental problems halts Japan's once astronomical growth
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