Conventional explanations of rapid growth in East Asia have focused on the efficient allocation of resources resulting from market-led outward-oriented strategies. This study challenges that approach. East Asian success has centred around the accumulation dynamic both because of its direct...

The Keynesian analysis of financial stability as developed by Hyman Minsky, provides considerable insights into understanding the nature and dynamics of boom-bust cycles driven by international capital flows in emerging markets. Its main policy conclusion that financial control rather than...