Fragile Finance inquires into the nature of financial crisis in the
era of global credit. This book suggests that financial fragility
today stems from an explosive combination of financial innovation,
over-borrowing, and progressive illiquidity of financial
structures. Drawing on the work of Hyman Minsky, the author
examines the role played by these three factors in the events that
defined the global financial system during the past decade, and
draws on their implications for the emerging paradigm of a global
financial architecture.
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