Minsky au Vietnam: State Corporations, Financial Instability and Industrialisation

Scott Cheshier and Jonathan Pincus

Chapter 11 in Minsky, Crisis and Development, 2010, pp 188-206 from Palgrave Macmillan

Abstract: Abstract When considering application of Hyman Minsky’s ideas to developing countries, an immediate issue is which Minsky?1 Three different options present themselves.2 Financial instability is an inherent and defining feature of capitalism in all three Minskys. The first variation is ‘exogenous Minsky’, used by Kindleberger and Aliber (2005) in one of the earliest attempts to apply Minsky to open economies.3 In this view, a pool of global liquidity flows around the world seeking investment opportunities. As it enters a particular national market, it sets off asset inflation and an investment boom. Mania eventually becomes panic and global funds pull out and move on to the next opportunity, leaving the national authorities to cover the costs of the crisis.4 The Minskyan movement from hedge to speculative to Ponzi finance is triggered by foreign inflows and the source of instability is therefore at least partly exogenous.

Keywords: Real Estate; Transfer Price; Transition Country; Excess Capacity; Member Company (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-29232-1_12

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230292321

DOI: 10.1057/9780230292321_12

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().