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Weaving the web of interconnectedness

In: All Fall Down

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Abstract

Interconnectedness grew out of reliance on borrowing from and lending to other financial institutions, the primary channel for funding in offshore markets that migrated to the US market in the 1990s and resulted in growth in the financial sector as a share of GDP. Expansion of the market for repurchase agreements (repos) facilitated pyramiding as borrowing backed by one financial asset to buy another pushed up leverage and increased indebtedness within the financial sector. The repo market was the center of the loss of confidence in 2008 as it forced unwinding of positions and led to a run on the financial sector by the financial sector.

Suggested Citation

  • ., 2018. "Weaving the web of interconnectedness," Chapters, in: All Fall Down, chapter 7, pages 51-57, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18346_7
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    Cited by:

    1. Brinkerink, Maarten & Gallachóir, Brian Ó & Deane, Paul, 2019. "A comprehensive review on the benefits and challenges of global power grids and intercontinental interconnectors," Renewable and Sustainable Energy Reviews, Elsevier, vol. 107(C), pages 274-287.

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