This book provides a systematic account of financial crisis in the developing world by exploring how Minsky's theory may be extended to countries at early stages of financial development, going beyond the parameters of the established 'emerging market crisis' literature

Oskar Lange was one of the few economists able to observe first hand the three major economic systems that have been the hallmark of the 20th century. He learned about the economic backwardness of peripheral capitalism in pre-war Poland. Later he spent more than twelve years in the bastion of...

This paper assesses the dynamics of developing and emerging countries external debt and financial vulnerability. It is argued that, although current account positions do have a role in accumulating external liabilities, developing countries' vulnerability primarily lie in their increasing...

The Economics of Financial Markets and the 1987 Crash is the first thorough and systematic account of the antecedents and economic consequences of the stock market crash of 1987 in the world’s major financial centres.

These authoritative volumes present the most important published work on the theory and incidence of financial fragility in the financial markets, and policy for dealing with fragility. The volumes cover the recent central bank discussions about financial fragility and models simulating...