Managing financial instability in emerging markets: A Keynesian perspective

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2008-6

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Akyüz, Yılmaz

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The Keynesian analysis of financial instability 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 macroeconomic policy holds the key to financial stability is equally valid. There is, however, need to develop a new approach to financial control and place greater emphasis on managing capital inflows than has hitherto been the case.

Subject Keywords

Financial Instability, Countercyclical Policy, Financial Regulation

URI

https://hdl.handle.net/11511/58429

Journal

ODTÜ Gelişme Dergisi

Collections

Department of Economics, Article

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Citation Formats

Y. Akyüz, “Managing financial instability in emerging markets: A Keynesian perspective,” ODTÜ Gelişme Dergisi, vol. 35, no. 1, pp. 177–207, 2008, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/58429.