Global financial markets: financial deregulation and crises
نویسندگان
چکیده
منابع مشابه
Impact of Global Financial Crises on Global Financial Stability and Need for an Alternative Financial System*
Th e main objective of this paper is to highlight the importance of the fi nancial stability of the global fi nancial system particularly aft er the recent global fi nancial crisis of 200809. Th e major causes of diff erent fi nancial crises possess the same pattern of greed among investors, ineffi ciency of government regulators, central banks and other stakeholders. Th ey have miserably faile...
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I develop a two market agent-based model to study how global portfolio managers affect global financial crises and stability. The Markowitz model is extended by incorporating several insights from behavioral finance. Simulation results of an agent-based version of the Markowitz model reveal that global financial crises do not occur when global managers are added to the model. However, when risk...
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The simultaneous determination of financial default and political crises is studied in an open economy model. Political crises accompany default in equilibrium because of an information transmission conflict between the government and the public. Multiple equilibria are possible: if foreign lenders are pessimistic about the country’s stability, they demand a high interest on the debt, exacerbat...
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This paper presents a Markov chain model of the transmission of financial crises. Using bilateral trade data and a measure of exchange market pressure, a method to determine a set of transition probabilities that describes the crisis transmission dynamics is developed. The dynamics are characterized by one-month conditional crisis probabilities and the probability of a crisis occurring within o...
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It is understandable that people ask how the current financial crisis could happen. As the market actors appear irrational, it is also understandable that people—lay people and experts alike—believe that psychological factors play a decisive role. Is there evidence for such a role, and what is the evidence? This monograph reviews, evaluates, and discusses research—primarily psychological resear...
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ژورنال
عنوان ژورنال: International Social Science Journal
سال: 1999
ISSN: 0020-8701,1468-2451
DOI: 10.1111/1468-2451.00187