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This paper reviews the key insights of Hyman P. Minsky in arguing why finance cannot be left to free markets, drawing on the East Asian development experience. The paper suggests that Minsky's more complete stock-flow consistent analytical framework, by putting finance at the center of analysis...
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The beginnings of central bank cooperation: Tokyo and London, 1895-1914 -- World war and globalization -- Japan emerges … as an international creditor, 1915-1918 -- Postwar alignment -- Wall street discovers Japan, Spring 1920 -- Putting the …
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