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Does financial liberalization accentuate financial instability?
2021The impact of financial liberalization on financial instability is theoretically ambiguous. By including financial liberalization policies in a standard model of the loan market with asymmetric information, this article identifies the entry of risky entrepreneurs and decreased borrowing costs as two channels by which financial instability exerts an ...
Bezemer, Dirk +2 more
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International Journal of Psychoanalysis, 2008 This paper sets out to explore if standard psychoanalytic thinking based on clinical experience can illuminate instability in financial markets and its widespread human consequences.
David Tuckett, Richard Taffler
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Financial Reforms and Financial Instability [PDF]
Ensayos Económicos, 2011 In this paper we analyze empirically the relationship between different financial reforms and financial instability. We also analyze the relationship between financial liberalization and financial instability, where financial liberalization is measure as an aggregate of different financial reforms.
Pablo Gluzmann, Martín Guzman
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Biology of Financial Market Instability
2016Research in the biology of risk taking is today helping solve a problem identified in 1981 by Robert Shiller. In an influential article criticising the efficient markets hypothesis, Shiller demonstrated that ‘measures of stock price volatility over the past century appear to be far too high – five to thirteen times too high – to be attributed to new ...
Coates, John, Page, Lionel
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Neoliberalism and international financial instability
Review of Radical Political Economics, 2000This paper attempts to expand upon a Minskian model of domestic financial crises to take account of the following international developments: capital inflows that increase financial fragility, foreign financing of deregulated domestic speculative markets, overcapacity in export markets, capital outflows leading to collapsing currencies, restrictive ...
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Credit Risk and Financial Instability
Oxford Review of Economic Policy, 1999Recent advances in modelling credit risk bring much greater discipline to the pricing of credit risk and should promote diversification by penalizing concentrations of credit risk with greater allocations of economic capital. Although these models perform well with regard to high-frequency hazards, they are ill equipped to deal with the low-frequency ...
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A few observations on financial liberalization and financial instability
Review of Radical Political Economics, 1999Recent studies have conjectured that there may be a link between financial liberalization (FL) and financial instability in emerging economies. Most of these studies, however, do not investigate whether emerging economies are, in fact, becoming structurally more vulnerable to currency and banking crises.
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Financial instability: economic and financial perspectives
2018Economists from Keynes (1936) to Minsky (1986) have recognized the fragility of markets and the impact of such fragility on the broader economy. In some contrast, academic finance has chosen to build a theoretical framework on an understanding of markets as efficient and in equilibrium. Such understanding has led to a theoretical framework that greatly
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Financial Instability, Financial Culture and Financial Reform
2011We consider the financial market meltdown of the years 2007-9 as resulting from both the typical mechanism of boom-bust cycles as well as a result of the financial market culture of excessive risk taking, leveraging and risk transfer. In this final chapter we thus will also review and discuss the recent efforts of financial reform from both ...
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