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‘Intoxicated’ institutional investors: how the financial crisis infected the real economy

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One of the least understood aspects of the financial crisis is how it spread from the financial sector to the general economy, where it nearly caused a global financial meltdown.

Alberto Manconi“We could look at the onset of the crisis as a shock to the liquidity of one market sector -- asset-backed securities” says INSEAD PhD candidate Alberto Manconi. “In August 2007, all of a sudden we realised that we didn’t really know how to price these securities. For this reason, very few investors were willing to trade them.”

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en

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text/html

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http://knowledge.insead.edu/Investors-crisis-100615.cfm

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