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Can we create a stable international financial environment that ensures net resource transfers to developing countries?

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  • JAN KREGEL

Abstract

The response to increasingly frequent financial crises has concentrated on the governance of financial institutions and markets through the introduction of best practice norms to make them more robust. However, this approach may simply repeat the financial history of persistent crisis if Hyman Minsky's idea that financial crises are endemic and endogenous to the system is correct. This paper suggests an alternative balance sheet management approach to improve financial stability of developing countries recipient of large capital inflows.

Suggested Citation

  • Jan Kregel, 2004. "Can we create a stable international financial environment that ensures net resource transfers to developing countries?," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 26(4), pages 573-590.
  • Handle: RePEc:mes:postke:v:26:y:2004:i:4:p:573-590
    DOI: 10.1080/01603477.2004.11051418
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    Cited by:

    1. Osman Suliman, 2008. "Do Capital Inflows Cause Currency Black Markets in MENA? Causality Tests for Heterogeneous Panels," Working Papers 381, Economic Research Forum, revised 01 Jan 2008.
    2. -, 2005. "Growth, debt and finance in the Caribbean," Sede Subregional de la CEPAL para el Caribe (Estudios e Investigaciones) 38791, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    3. SULIMAN, Osman, 2013. "Do Capital Inflows Cause Currency Black Markets In Mena Countries? Causality Tests For Heterogeneous Panels," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 13(1), pages 187-202.
    4. Mario Tonveronachi, 2006. "Foreign debt and financial fragility in the perspective of the emerging countries," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 59(236), pages 23-48.
    5. Domenica Tropeano, 2006. "Fiscal policy and economic adjustment in emerging economies: what happens after the economic reforms?," Working Papers 30-2006, Macerata University, Department of Finance and Economic Sciences, revised Nov 2008.
    6. repec:nov:artigo:v:25:y:2015:i:spe:p:891-938 is not listed on IDEAS
    7. Elisabetta Michetti, & Domenica Tropeano,, 2008. "Exchange rate policy and income distribution in an open developing economy," Working Papers 44-2008, Macerata University, Department of Finance and Economic Sciences, revised Nov 2008.
    8. Mario Tonveronachi, 2006. "Debito estero e fragilità finanziaria nell’ottica dei paesi emergenti," Moneta e Credito, Economia civile, vol. 59(233), pages 45-72.
    9. Mario Tonveronachi, 2006. "Foreign debt and financial fragility in the perspective of the emerging countries," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 59(236), pages 23-48.

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