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Where has all the Money Gone?

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  • Kevin Davis

Abstract

This paper explains how modern developments in lending and liquidity management using short-term secured lending contributed to the process of financial sector expansion prior to the financial crisis and its subsequent unwinding. It focuses upon the role of the non-regulated financial sector, and aims to assist readers to understand the answer to the commonly asked question: where has all the money gone? It draws some lessons and policy implications and identifies a number of regulatory issues emerging as the subject for debate. Copyright (c) 2009 The Economic Society of Australia.

Suggested Citation

  • Kevin Davis, 2009. "Where has all the Money Gone?," Economic Papers, The Economic Society of Australia, vol. 28(3), pages 217-225, September.
  • Handle: RePEc:bla:econpa:v:28:y:2009:i:3:p:217-225
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    1. Markus K. Brunnermeier, 2009. "Deciphering the Liquidity and Credit Crunch 2007-2008," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 77-100, Winter.
    2. Reinhart, Carmen M. & Rogoff, Kenneth S., 2013. "Banking crises: An equal opportunity menace," Journal of Banking & Finance, Elsevier, vol. 37(11), pages 4557-4573.
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