Managing Financial Instability in Emerging Markets: A Keynesian Perspective
AbstractThe Keynesian analysis of financial stability as developed by Hyman Minsky, provides considerable insights into understanding the nature and dynamics of boom-bust cycles driven by international capital flows in emerging markets. Its main policy conclusion that financial control rather than macroeconomic policy holds the key to financial stability is equally valid. There is however, need to develop a new approach to financial control and place greater emphasis on managing capital inflows than has hitherto been the case
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Bibliographic InfoPaper provided by Turkish Economic Association in its series Working Papers with number 2008/4.
Length: 35 pages
Date of creation: 2008
Date of revision:
Financial instability; countercyclical policy; financial regulation;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-04-29 (All new papers)
- NEP-CBA-2008-04-29 (Central Banking)
- NEP-CWA-2008-04-29 (Central & Western Asia)
- NEP-MAC-2008-04-29 (Macroeconomics)
- NEP-PKE-2008-04-29 (Post Keynesian Economics)
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