Theoretical Models of Financial Crises

Peter Ignatiev

Economic Thought journal, 2004, issue 2, 110-130

Abstract: The traditional models of financial crises are considered: Minsky-Kindleberger model, asymmetric information model (Mishkin-Stiglitz) and liquidity crisis model (Diamond-Dybvig). Than the contemporary models of financial crises in emerging markets are analyzed: moral hazard models, financial panic models and balance sheet effects models. The stress is put on the conclusions, that the models are appropriate for methodology for analyses of "small, open economy" with institutional problems like the Bulgarian one. The stress is put on the conclusion that the models are appropriate for a methodology for analyzing "small, open economies" with institutional problems like that of Bulgaria.

JEL-codes: E32 E44 G21 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2004:i:2:p:110-130

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