Why so many financial crises?
AbstractBoom-and-bust examples from Japan and China over the last forty years show how overinvestment can result in financial bubbles. When the bubbles burst, investors are pushed into less-risky assets that reflect a transition away from wealth enhancement to wealth preservation that complicates a much-needed return to economic equilibrium.
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Bibliographic InfoPaper provided by American Enterprise Institute in its series Working Papers with number 34922.
Date of creation: Jul 2012
Date of revision:
international currency regulation; financial crises; Chinese economy; Economic outlook; Japanese economy;
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