Commonalities Between the ‘Bookends’ Financial Crises of Mexico 1994 and Greece 2007
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This chapter is a historical and theoretical investigation on the theme of ‘modern’ financial crises focused on contrasting the ‘bookends’ cases of Mexico 1994 and of Greece 2007 for improving the understanding of these two cases. The central idea of the chapter is based on the comparison of financial crises models: Orthodox, Heterodox (Minskyan) and a complex system framework, advocating heterodox models as the best explication for the case in point. Then, some guidelines for mitigating the impact of crises are proposed and thereafter some general conclusions are offered, both of them considering the selected cases on the basis of a pragmatic selection of parts of these explications including the historical perspective.
KeywordsMinsky Modern Financial Crises Exchange rateExchange Rate Bullish Position Economic Emergency
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