Lamfalussy, Alexandre - In: Reflets et perspectives de la vie économique XLIV (2005) 1, pp. 87-92
This essay examines, first, the sources and the nature of the stock market meltdown which took place between end-2000 and the spring of 2003. It then suggests that there were three reasons why this spectacular meltdown did not turn into a general financial crisis and a deep recession: the...