https://fce.unal.edu.co/media/files/CentroEditorial/documentos/econografos/EE/econografos-EE-154.pdf

The plurality of crisis: two interpretations of colombian financial crisis of 1998

Nicolás Sierra Rojas

Econógrafos, Escuela de Economía from Universidad Nacional de Colombia, FCE, CID

Abstract: The Colombian financial crisis that occurred at the turn of the century is framed in a period of international turbulence, a symptom of the rising degree of the globalization process and the interpenetration of national economies around the world. The crisis’ causes have been broadly debated and this essay intends to contribute to such discussion from the theories of John Maynard Keynes and Murray Rothbard; prominent exponents of two important currents of economic thought. In this work, real and monetary factors are analyzed from two distinct theoretical frameworks without the intent of criticizing those in an aprioristic way. I conclude that, in spite of there being few common points between the two authors, the plurality in the analysis is critical if one wants to fully understand the development of the financial crisis.

Keywords: Financial crisis; Investment; Credit expansion; Interest rate; Expectations (search for similar items in EconPapers)
JEL-codes: B22 B53 N16 N26 P16 (search for similar items in EconPapers)
Pages: 15
Date: 2020-08
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Published in Econografos

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Persistent link: https://EconPapers.repec.org/RePEc:col:000176:022718

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