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The Mangled Miracle and the Alchemy of Finance


  • Haider Ali Khan

    (GSIS, University of Denver)


In this chapter I introduce the basic problems for a new theory of 21st century financial crises in light of the Asian and other subsequent crises. Do these crises all have somethimg in common, or are they idiosyncratic events? My contention is that there are deep structural causes at work in the global markets that affect the political economy of countries and regions. Methodologically, new concepts, models and theories are needed to conduct further meaningful empirical work leading to relevant policy conclusions. This book belongs to the beginning of intellectual efforts in this direction.

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  • Haider Ali Khan, 2003. "The Mangled Miracle and the Alchemy of Finance," CIRJE F-Series CIRJE-F-191, CIRJE, Faculty of Economics, University of Tokyo.
  • Handle: RePEc:tky:fseres:2003cf191

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    References listed on IDEAS

    1. Duffie, Darrell & Singleton, Kenneth J, 1999. "Modeling Term Structures of Defaultable Bonds," Review of Financial Studies, Society for Financial Studies, vol. 12(4), pages 687-720.
    2. Brennan, Michael J. & Schwartz, Eduardo S., 1980. "Analyzing Convertible Bonds," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 15(04), pages 907-929, November.
    3. Brennan, M J & Schwartz, Eduardo S, 1977. "Convertible Bonds: Valuation and Optimal Strategies for Call and Conversion," Journal of Finance, American Finance Association, vol. 32(5), pages 1699-1715, December.
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