Get 40% off print & eBooks in Politics, Humanities & Social Science + FREE shipping! Stock up today >>

Social Finance

Shadow Banking during the Global Financial Crisis

Authors: Shenai, Neil

  • ·         Identifies shortcomings of the Minsky model and provides an overview of interdisciplinary insights from Keynesian epistemology, international relations theory, and economic constructivism
  • ·         Presents a new model of financial instability and shows how this model leads to a better understanding of shadow banking during the global financial crisis
  • ·         Argues that economic ideas need to be taken seriously as causal explanatory variables for understanding financial instability and that although the worst of the crisis is behind us, a careful reading of history should caution us into believing that financial instability can fully be eradicated from the global economy
see more benefits

Buy this book

eBook  
  • ISBN 978-3-319-91346-9
  • Digitally watermarked, DRM-free
  • Included format:
  • ebooks can be used on all reading devices
Hardcover ca. 88,39 €
price for Spain (gross)
  • Due: February 12, 2019
  • ISBN 978-3-319-91345-2
  • Free shipping for individuals worldwide
  • The final prices may differ from the prices shown due to specifics of VAT rules
About this book

This book presents an augmented and more empirically valid update to the popular Minsky model of financial crises. This model reincorporates sociological insights from John Maynard Keynes (Minsky’s intellectual father) back into the Minsky model to present a more complete account of why bubbles form, why some financing structures are more vulnerable to panics than others, and why financial crises are so hard to predict. It borrows insights from scholarship on crises in international relations theory to examine the triggers of financial distress and crisis dynamic. And it draws on perspectives from international political economy, and in particular economic constructivism, to show how elite choices prior to, during, and after financial panics are often driven by their foundational economic ideas and how the effectiveness of regulators’ crisis responses depend on their credibility with the marketplace. The book demonstrates the utility of this new Minsky paradigm via a case study of shadow banking during the global financial crisis. It draws on interviews with the world’s leading investors in New York and London, a close examination of primary and secondary sources, and quantitative evidence to illustrate how this book’s model offers a more thorough and empirically valid way to think about financial instability, which will be relevant to academics, researchers, policy makers and students.

About the authors

Neil Shenai was a Professorial Lecturer at American University’s School of International Service in Washington, DC from 2013-15. He received his PhD from Johns Hopkins SAIS, where he served as an Adjunct Lecturer of International Economics from 2011-16.    


Buy this book

eBook  
  • ISBN 978-3-319-91346-9
  • Digitally watermarked, DRM-free
  • Included format:
  • ebooks can be used on all reading devices
Hardcover ca. 88,39 €
price for Spain (gross)
  • Due: February 12, 2019
  • ISBN 978-3-319-91345-2
  • Free shipping for individuals worldwide
  • The final prices may differ from the prices shown due to specifics of VAT rules

Services for this book

Bibliographic Information

Bibliographic Information
Book Title
Social Finance
Book Subtitle
Shadow Banking during the Global Financial Crisis
Authors
Copyright
2018
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-319-91346-9
Hardcover ISBN
978-3-319-91345-2
Edition Number
1
Number of Illustrations and Tables
40 b/w illustrations
Topics