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Managing Financial Instability in Emerging Markets: A Keynesian Perspective

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  • Yilmaz Akyuz

    (UNCTAD)

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    Abstract

    The 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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    File URL: http://www.tek.org.tr/dosyalar/ODTUKEYNESTFIN.pdf
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    Bibliographic Info

    Paper provided by Turkish Economic Association in its series Working Papers with number 2008/4.

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    Length: 35 pages
    Date of creation: 2008
    Date of revision:
    Handle: RePEc:tek:wpaper:2008/4

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    Keywords: Financial instability; countercyclical policy; financial regulation;

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    Cited by:
    1. Shafaeddin, Mehdi, 2008. "South-South Regionalism And Trade Cooperation In The Asia-Pacific Region," MPRA Paper 10886, University Library of Munich, Germany.

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