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A Minskian Approach To Financial Crises With A Behavioural Twist: A Reappraisal Of The 2000-2001 Financial Crisis In Turkey, Mathieu Perron-Dufour

Open Access Dissertations

The phenomenal financial expansion of the last decades has been characterised by an exacerbation of systemic instability and an increase in the frequency of financial crises, culminating in the recent meltdown in the US financial sector. The literature on financial crises has developed concomitantly, but despite a large number of papers written on this subject, economists are still struggling to understand the underlying determinants of these phenomena. In this dissertation, I argue that one of the reasons for this apparent failure is the way agents, as well as the environment in which they evolve, are modelled in this literature. After …