Journal article
The Sixth Kondratieff Cycle the Era of Financial Market Instruments: A Reflection on the Australia vs US Subprime Mortgage Market
International Journal of Economics and Finance, Vol.3(5), pp.37-41
2011
Abstract
This paper posits that the present global financial crisis is the sixth Kondratieff cycle and that the underlying cause of transactions-based financial capitalism points to this cycle as being the era of financial market instruments. The US subprime mortgage market having contributed to the present financial liquidity shock as a consequence of the derivative market instruments known as collateralised debt obligations (CDO) is responsible for this cycle. The comparison between the subprime mortgage market in Australia and the US suggests that the Australian market should be less vulnerable but not entirely immune to the financial problems of the world liquidity shock.
Details
- Title
- The Sixth Kondratieff Cycle the Era of Financial Market Instruments: A Reflection on the Australia vs US Subprime Mortgage Market
- Authors
- Gregory Laing (Author) - University of the Sunshine Coast - Faculty of Business
- Publication details
- International Journal of Economics and Finance, Vol.3(5), pp.37-41
- Publisher
- Canadian Center of Science and Education
- Date published
- 2011
- DOI
- 10.5539/ijef.v3n5p37
- ISSN
- 1916-971X
- Copyright note
- Copyright © 2011 The Authors. Reproduced here in accordance with the copyright policy of the publisher. This work is licensed under a Creative Commons Attribution 3.0 License.
- Organisation Unit
- University of the Sunshine Coast, Queensland
- Language
- English
- Record Identifier
- 99449647302621
- Output Type
- Journal article
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