Financial crisis: old and new approaches

Jouliana Jordan Nohara ()

Brazilian Journal of Political Economy, 1997, vol. 17, issue 1, 20-42

Abstract: This essay aims at outline the theoretical discussions about the financial crises.Three approaches explain the event: the monetarist, the asymmetric information approachand the financial instability hypothesis. The first one proved inadequate when confrontedwith experience. The other two have in common the attempt to include the financial marketwith all its institutions in the economic analysis. Nevertheless, they differ in the conceptionabout the operating mode of the economy. JEL Classification: E32; G28.

Keywords: Financial crisis; history of economic thought (search for similar items in EconPapers)
Date: 1997
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