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Crisis, Dollar and Shadow Financial System


  • Alicia Girón


One of the biggest concerns in the course of the current financial crisis is the role of the dollar and its hegemony in exchange transactions on a global level. The financial operations of the parallel or shadow financial system cannot be comprehended without understanding financialization and securitization. "Too big to fail, too big to rescue" expressed the size of the "over-the-counter" derivatives market. Institutional investors are responsible for the sovereign debt problem and the solution to the crisis. The dollar as the international general equivalent of the shadow financial system is of tremendous importance in today's world.

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  • Alicia Girón, 2012. "Crisis, Dollar and Shadow Financial System," Journal of Economic Issues, Taylor & Francis Journals, vol. 46(2), pages 511-518.
  • Handle: RePEc:mes:jeciss:v:46:y:2012:i:2:p:511-518 DOI: 10.2753/JEI0021-3624460226

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    References listed on IDEAS

    1. Naoi, Michio & Seko, Miki & Sumita, Kazuto, 2009. "Earthquake risk and housing prices in Japan: Evidence before and after massive earthquakes," Regional Science and Urban Economics, Elsevier, vol. 39(6), pages 658-669, November.
    2. Michio Naoi & Miki Seko & Kazuto Sumita, 2010. "Community Rating, Cross Subsidies and Underinsurance: Why so many Households in Japan do not Purchase Earthquake Insurance," The Journal of Real Estate Finance and Economics, Springer, vol. 40(4), pages 544-561, May.
    3. Anbarci, Nejat & Escaleras, Monica & Register, Charles A., 2005. "Earthquake fatalities: the interaction of nature and political economy," Journal of Public Economics, Elsevier, vol. 89(9-10), pages 1907-1933, September.
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