WebFrank Acito, Sugato Bhattacharyya, Timothy Crack, Craig Holden, Rich Rosen, Richard Shockley, Gregg Udell and seminar participants at Indiana, Maryland and Wisconsin (Madison) provided many thoughtful comments. I am particularly grateful to Mukarram Attari This paper shows that transition economies are breeding grounds for Ponzi schemes. WebInternal: Sugato Bhattacharyya, David Brophy, Andrey Malenko, Nadya Malenko, Emmanuel Yimfor 2024 Stephen M. Ross School of Business at the University of Michigan.
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