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Managing Financial Instability in Emerging Markets: A Keynesian Perspective

  • Yilmaz Akyuz

    (UNCTAD)

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    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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    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
    Contact details of provider: Postal: Hoşdere Cad. 24/4, TR-Çankaya, Ankara
    Phone: (+90 312) 468 25 89
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    Web page: http://www.tek.org.tr/
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