Integrative literature review of the financial fragility hypothesis
proposed by Minsky
- Cláudio Caríssimo,
- Francisval Melo Carvalho,
- carlos eduardo Stefaniak Aveline,
- Mozar José de Brito,
- rafaela maiara caetano
Abstract
This paper conducts an Integrative Literature Review on the Financial
Fragility Hypothesis presented by Minsky and on Financial Fragility
Applied to the Public Sector. Twenty papers were chosen that addressed
the proposed theme in both quantitative and qualitative procedures. The
topics discussed ways of measuring financial fragility, effects on
fiscal policy and need for regulation, relations between investment,
cash flow expectations, the influence of interest rates and indebtedness
on firms, and financial instability. The integration reinforced the
conceptual aspects and propositions presented by Minsky, broadening in
an integrated way the understanding of his theoretical assumptions
regarding financial fragility, addressing the causes, observations, and
economic and institutional consequences, in addition to signaling for
insufficiencies of more empirical studies and the public sector.