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Economic Openness, Financial Fragility and Corporate Finance

A Minskyan Perspective on Argentina’s 2001 Crisis

By Martin Pablo Abeles | October 1, 2005

ABSTRACT: The paper applies Minsky’s well-known trinity—the hedged, speculative and Ponzi financial positions of firms—to analyze the evolution of Argentina’s corporate sector prior to the December 2001 financial breakdown. The empirical work is based on officially gathered data on balance sheet information from Argentina’s largest 500 non-financial corporations.

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Read More: Business, Debt, Economy, Finance, Trade, Argentina, Americas

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