|
EconStor >
Bard College, Annandale-on-Hudson (NY) >
Levy Economics Institute of Bard College >
Working Papers, Levy Economics Institute of Bard College >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/31468
|
| | |
| Title: | | The balance sheet approach to financial crises in emerging markets  |
| Authors: | | Cozzi, Giovanni Toporowski, Jan |
| Issue Date: | | 2006 |
| Series/Report no.: | | Working papers // The Levy Economics Institute 485 |
| Abstract: | | This paper contrasts the conventional balance sheet approach to the analysis of economic disturbances in emerging markets with the alternative balance sheet approach that applies and extends Minsky’s Financial Instability Hypothesis to (open) emerging market economies. Earlier balance sheet studies are found to be flawed because of a failure to disaggregate firms’ balance sheets. Examination of such balance sheets in Thailand, Malaysia, Indonesia, Singapore, and Hong Kong suggests that firms in the three crisis countries did share common causes of financial fragility, but that the level of financial development and the particular domestic economic and political situation also affected their situation. |
| Subjects: | | Emerging Markets Minsky Financial Crises Southeast Asia |
| JEL: | | O16 O12 F34 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Levy Economics Institute of Bard College
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/31468
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|