Subprime crisis and instability of global financial markets
Апстракт
In order to prescribe adequate remedies to treat the current financial crisis one has to understand what in the first place went wrong. An age ago, older generations wrote that disease could not be cured without an accurate diagnosis. In contrast to mainstream 'efficient markets hypothesis' we argue that Minsky's financial instability hypothesis gives numerous valuable insights into sources and possible consequences of current global financial crisis. Furthermore, two decades ago Hyman P. Minsky predicted possible developments and perils of ever growing process of securitization of illiquid assets.
Кључне речи:
speculation / securitization / Ponzi unit / financial instability hypothesis / debtИзвор:
Panoeconomicus, 2010, 57, 2, 209-224Издавач:
- Savez ekonomista Vojvodine, Novi Sad
DOI: 10.2298/PAN1002209R
ISSN: 1452-595X
WoS: 000279986600005
Scopus: 2-s2.0-77954684496
Институција/група
Sociologija / SociologyTY - JOUR AU - Radonjić, Ognjen AU - Zec, Miodrag PY - 2010 UR - http://reff.f.bg.ac.rs/handle/123456789/1046 AB - In order to prescribe adequate remedies to treat the current financial crisis one has to understand what in the first place went wrong. An age ago, older generations wrote that disease could not be cured without an accurate diagnosis. In contrast to mainstream 'efficient markets hypothesis' we argue that Minsky's financial instability hypothesis gives numerous valuable insights into sources and possible consequences of current global financial crisis. Furthermore, two decades ago Hyman P. Minsky predicted possible developments and perils of ever growing process of securitization of illiquid assets. PB - Savez ekonomista Vojvodine, Novi Sad T2 - Panoeconomicus T1 - Subprime crisis and instability of global financial markets EP - 224 IS - 2 SP - 209 VL - 57 DO - 10.2298/PAN1002209R ER -
@article{ author = "Radonjić, Ognjen and Zec, Miodrag", year = "2010", abstract = "In order to prescribe adequate remedies to treat the current financial crisis one has to understand what in the first place went wrong. An age ago, older generations wrote that disease could not be cured without an accurate diagnosis. In contrast to mainstream 'efficient markets hypothesis' we argue that Minsky's financial instability hypothesis gives numerous valuable insights into sources and possible consequences of current global financial crisis. Furthermore, two decades ago Hyman P. Minsky predicted possible developments and perils of ever growing process of securitization of illiquid assets.", publisher = "Savez ekonomista Vojvodine, Novi Sad", journal = "Panoeconomicus", title = "Subprime crisis and instability of global financial markets", pages = "224-209", number = "2", volume = "57", doi = "10.2298/PAN1002209R" }
Radonjić, O.,& Zec, M.. (2010). Subprime crisis and instability of global financial markets. in Panoeconomicus Savez ekonomista Vojvodine, Novi Sad., 57(2), 209-224. https://doi.org/10.2298/PAN1002209R
Radonjić O, Zec M. Subprime crisis and instability of global financial markets. in Panoeconomicus. 2010;57(2):209-224. doi:10.2298/PAN1002209R .
Radonjić, Ognjen, Zec, Miodrag, "Subprime crisis and instability of global financial markets" in Panoeconomicus, 57, no. 2 (2010):209-224, https://doi.org/10.2298/PAN1002209R . .