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.

Fragile Finance examines financial crisis in the era of global credit. Drawing on the work of Hyman Minsky, the book discusses the global financial system over the past decade, suggesting that financial fragility stems from an explosive combination of financial innovation, over-borrowing, and progressive illiquidity of financial structures.