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The First-World Debt Crisis of 2007-2010 in Global Perspective

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  • Robert Wade
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    Abstract

    We do not yet know how bad the current credit crisis will get. But we do know that policies in rich nations, dominated by the United States, were often the opposite of corrective. As the author writes in this incisive review of the events that led to the crisis, while boom times rolled on, the cost of credit fell, generating pro-cyclical momentum that made matters worse. A new regulatory apparatus is needed, he argues, one that is more aggressive than is currently being discussed.

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    Bibliographic Info

    Article provided by M.E. Sharpe, Inc. in its journal Challenge.

    Volume (Year): 51 (2008)
    Issue (Month): 4 (July)
    Pages: 23-54

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    Handle: RePEc:mes:challe:v:51:y:2008:i:4:p:23-54

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    Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106043

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    Cited by:
    1. Luci Ellis, 2010. "The Housing Meltdown: Why Did It Happen in the United States?," International Real Estate Review, Asian Real Estate Society, vol. 13(3), pages 351-394.
    2. Antoniades, Andreas, 2013. "Recasting the Power Politics of Debt: Structural Power, Hegemonic Stabilisers and Change," MPRA Paper 47015, University Library of Munich, Germany.

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