Origins of economic instability: Real, financial or both? - Part I: An account of Minsky's financial instability hypothesis
South African Journal of Economic and Management Sciences
| Field | Value | |
| Title | Origins of economic instability: Real, financial or both? - Part I: An account of Minsky's financial instability hypothesis | |
| Creator | Hart, J. S. | |
| Description | The 1990s have put the issue of global economic stability under the spotlight. This calls for a re-examination of the economic theory surrounding the subject. Here a three-fold classification is useful. The first grouping locates the source of stability in the workings of the real sector of the economy. A second, following Hyman Minsky, contends that instability arises in the financial sector. A third grouping draws on a distinction by Schumpeter to argue that any effective analysis of stability or instability requires a theoretical framework that integrates both the real and financial sectors at the most basic level. In the light of the current financial crisis which originated in South-East Asia, the second grouping appears most relevant. Part II will give an appraisal of Minsky's theory. | |
| Publisher | AOSIS Publishing | |
| Date | 1999-03-31 | |
| Identifier | 10.4102/sajems.v2i1.2560 | |
| Source | South African Journal of Economic and Management Sciences; Vol 2, No 1 (1999); 1-20 2222-3436 1015-8812 | |
| Language | eng | |
| Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://sajems.org/index.php/sajems/article/view/2560/1372
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