Ponzis [electronic resource] : the science and mystique of a class of financial frauds / Kaushik Basu.

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Bibliographic Details
Online Access: Full Text (via Open Knowledge Repository)
Main Author: Basu, Kaushik
Corporate Author: World Bank. Office of the Vice President, Development Economics. Office of the Chief Economist
Format: Electronic eBook
Language:English
Published: [Washington, D.C.] : World Bank, 2014.
Series:Policy research working papers ; 6967.
Subjects:

MARC

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260 |a [Washington, D.C.] :  |b World Bank,  |c 2014. 
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490 1 |a Policy research working paper ;  |v 6967 
500 |a "July 2014." 
500 |a "World Bank Group, Development Economics Vice Presidency, Office of the Chief Economist." 
504 |a Includes bibliographical references (page 13). 
520 3 |a Ponzis are among the most ubiquitous and least understood phenomena of economic life. They acquired a certain salience with the global financial crisis of 2008 and the crash of Bernie Madoff's celebrated Ponzi scheme. This paper explains the structure of Ponzi schemes and goes on to argue that what makes this such a troubling phenomenon is its ability to be camouflaged amidst legitimate practices. It is shown, for instance, that the common practice of giving stock options to employees could be a potential Ponzi that allows corporations to flourish for a while by borrowing from its own future. The paper goes on to discuss the need for intelligent regulation to incise harmful Ponzis (not all Ponzis are harmful) while taking care not to damage other legitimate activities that surround them. 
588 0 |a Online resource; title from pdf title page (Worldbank.org Web site, viewed March 25, 2015). 
650 0 |a Ponzi schemes.  |0 http://id.loc.gov/authorities/subjects/sh00005148 
650 0 |a Fraud.  |0 http://id.loc.gov/authorities/subjects/sh85051619 
650 7 |a Fraud.  |2 fast  |0 (OCoLC)fst00933786 
650 7 |a Ponzi schemes.  |2 fast  |0 (OCoLC)fst01071031 
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