Can we create a stable international financial environment that ensures net resource transfers to developing countries?

Jan Kregel

Journal of Post Keynesian Economics, 2004, vol. 26, issue 4, pages 573-590

Abstract: The response to increasingly frequent financial crises has concentrated on the governance of financial institutions and markets through the introduction of best practice norms to make them more robust. However, this approach may simply repeat the financial history of persistent crisis if Hyman Minsky's idea that financial crises are endemic and endogenous to the system is correct. This paper suggests an alternative balance sheet management approach to improve financial stability of developing countries recipient of large capital inflows.

Keywords: debt; development; financing for development; foreign direct investment; international capital flows (search for similar items in EconPapers)
Date: 2004
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Persistent link: http://EconPapers.repec.org/RePEc:mes:postke:v:26:y:2004:i:4:p:573-590

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