Publication
2008
This paper explains the global credit crunch as the outcome of the illusion of liquidity. It examines the political-economic mechanisms that had sustained this illusion during the boom years, and the mechanisms which contributed to its evaporation. Drawing on the scholarship of Hyman Minsky, the author identifies three pillars of the liquidity illusions and examines their role in the unraveling of the global liquidity illusion.
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English (PDF, 31 pages, 737 KB) |
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Author | Anastasia Nesvetailova |
Series | DIIS Working Papers |
Issue | 23 |
Publisher | Danish Institute for International Studies (DIIS) |
Copyright | © 2008 Danish Institute for International Studies (DIIS) |