Risk and Liquidity

This book presents the Clarendon Lectures in Finance by one of the leading exponents of financial booms and crises. Hyun Song Shin's work has shed light on the recent global financial crisis and he has been a central figure in the policy debates. This book will appeal interest to students and academics across economics and finance, as well as policy makers, government officials, and bankers who want to delve beneath the surface to grasp the underlying dynamics of the boom-bust cycle in a modern financial system -a system where banking and capital market developments have become inseparable.