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Developing country vulnerability in light of the global financial crisis: Shock therapy?

✍ Scribed by Essers, Dennis

Book ID
122732394
Publisher
Elsevier
Year
2013
Tongue
English
Weight
962 KB
Volume
3
Category
Article
ISSN
1879-9337

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## Abstract The article argues that the primary cause of the current subprime mortgage crisis in the United States is the absence of adequate market discipline in the financial system. This tends to promote excessive lending, high leverage, speculation, and an unsustainable rise in asset prices. Un