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                <title>Deciphering the Crisis  on INSEAD Knowledge</title>
                <description>Latest articles published on the INSEAD Knowledge website.</description>
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                <copyright>INSEAD March 2007, All rights reserved.</copyright>
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              <title>Can leadership withstand the ravages of a crisis?</title> 
                  <link>http://knowledge.insead.edu/LeadershipinCrisis081216.cfm?vid=156</link> 
	              <pubDate>Wed, 17 Dec 2008 05:19:11 GMT</pubDate>
                  <description><![CDATA[ The sudden collapse of Lehman Brothers and the fall of AIG have not just shaken the financial community to its core, which has sent reverberations worldwide, its leaders have also come under fire.<br>
<br>
<br>
But there's more to these highly-publicised institutional collapses than meets the eye, according to Subramanian Rangan, Associate Professor of Strategy and Management at INSEAD.<br>
 ]]></description> 
                  <guid>http://knowledge.insead.edu/LeadershipinCrisis081216.cfm?vid=156</guid> 
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              <title>Asia feels the pain caused by the crisis but could be poised for rapid recovery</title> 
                  <link>http://knowledge.insead.edu/AsiaRapidRecovery081107.cfm?vid=127</link> 
	              <pubDate>Fri, 21 Nov 2008 06:35:50 GMT</pubDate>
                  <description><![CDATA[ Asia can’t escape the financial and economic crisis that is battering the rest of the world, but the region may be poised for a more rapid recovery if leaders in business and government work together and show leadership. ]]></description> 
                  <guid>http://knowledge.insead.edu/AsiaRapidRecovery081107.cfm?vid=127</guid> 
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              <title>Blueprint for a new international financial order</title> 
                  <link>http://knowledge.insead.edu/NewFinancialOrder081104.cfm</link> 
	              <pubDate>Fri, 21 Nov 2008 06:39:10 GMT</pubDate>
                  <description><![CDATA[ Politicians have acted decisively to restore confidence and liquidity in the banking sector through the injection of capital and guarantees on interbank loans. The UK, continental EU countries, the US and Switzerland, have injected new capital into their home banks, increasing capital ratios. <br>
<br>
Political leaders are now calling an international conference for a new international financial order to discuss the creation of a supranational supervisory body, Bretton Woods II. ]]></description> 
                  <guid>http://knowledge.insead.edu/NewFinancialOrder081104.cfm</guid> 
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              <title>Obama could help US economy recover by mid-2009</title> 
                  <link>http://knowledge.insead.edu/ObamaEconomy081108.cfm?vid=132</link> 
	              <pubDate>Fri, 21 Nov 2008 06:41:48 GMT</pubDate>
                  <description><![CDATA[ The victory of Barack Obama, the first African-American to become president of the United States, could help the troubled US economy recover by the middle of next year, says Ilian Mihov, professor of economics at INSEAD.<br>
<br>
“Obama’s platform when he was campaigning was to increase government spending and cut taxes. If the change is aggressive and very determined, I think the US economy can start recovering by the middle of next year,” Mihov says. ]]></description> 
                  <guid>http://knowledge.insead.edu/ObamaEconomy081108.cfm?vid=132</guid> 
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              <title>We should heed the lessons of the collapse of the ‘golden age’: a personal view</title> 
                  <link>http://knowledge.insead.edu/GreatDepression080912.cfm</link> 
	              <pubDate>Tue, 30 Sep 2008 04:29:25 GMT</pubDate>
                  <description><![CDATA[ When I teach my macroeconomics class for the MBAs at INSEAD, I always discuss the Great Depression and the lecture ends on an optimistic tone with a simple statement: “The Great Depression will never happen again”. I firmly believed this because there is a widespread consensus that the Great Depression was a result of a sequence of policy mistakes. Economists have learned what policies should be applied to avoid the Great Depression. <br>
<br>
Unfortunately, I have to revise my optimism now. It is not because what we learned was wrong, nor because we have unlearned the big lessons from the Great Depression. Optimism fades because it turns out that political bickering and petty re-election agendas can wipe out the lessons of more than 70 years ago. <br>
<br>
 ]]></description> 
                  <guid>http://knowledge.insead.edu/GreatDepression080912.cfm</guid> 
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              <title>Business schools and the crisis</title> 
                  <link>http://knowledge.insead.edu/BusinessSchoolsCrisis081101.cfm?vid=119</link> 
	              <pubDate>Fri, 21 Nov 2008 06:24:58 GMT</pubDate>
                  <description><![CDATA[ I have heard from a lot of people in the past month. Many of them ask me about the job market for our MBAs, our endowment, our executive education business and about our alumni whose jobs are at risk. But there are some who ask what are you doing about this? What is your role now and in the future as a business school?<br>
 ]]></description> 
                  <guid>http://knowledge.insead.edu/BusinessSchoolsCrisis081101.cfm?vid=119</guid> 
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              <title>Creative entrepreneurs can survive the crisis</title> 
                  <link>http://knowledge.insead.edu/CreativeEntrepreneursSurviveCrisis081008.cfm?vid=105 </link> 
	              <pubDate>Thu, 30 Oct 2008 08:02:56 GMT</pubDate>
                  <description><![CDATA[ Creative entrepreneurs can weather the current global economic crisis better than traditional businesses, says Jean-Claude Larréché, INSEAD professor of marketing. Virgin Atlantic, which was founded by British entrepreneur Sir Richard Branson in 1984, survived and came out stronger after the airline crisis of the early 1990s when many established airlines went bankrupt, notes Larréché. Speaking via satellite, Branson said a lot of opportunities will emerge as a result of the current global economic slowdown but companies need to be nimble to move quickly and decisively to realise these opportunities.<br>
<br>
 ]]></description> 
                  <guid>http://knowledge.insead.edu/CreativeEntrepreneursSurviveCrisis081008.cfm?vid=105 </guid> 
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              <title>It may be time to change our questions: a personal view</title> 
                  <link>http://knowledge.insead.edu/HalGregersenOpEd090116.cfm</link> 
	              <pubDate>Fri, 16 Jan 2009 04:31:40 GMT</pubDate>
                  <description><![CDATA[ Innovative leaders ask innovative questions – lots of them.  Our research on the entrepreneurial founders at 25 of the most innovative companies in the world (places like Apple, eBay, Amazon, and Skype) revealed that they rely on catalytic questions to create revolutionary new ways of doing business.  Such questions reflect their deep bias against the status quo and prompt powerful, personal action.  ]]></description> 
                  <guid>http://knowledge.insead.edu/HalGregersenOpEd090116.cfm</guid> 
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              <title>Global outlook: big spenders and penny-pinchers</title> 
                  <link>http://knowledge.insead.edu/StephenRoachglobaloutlook090116.cfm</link> 
	              <pubDate>Mon, 19 Jan 2009 04:39:17 GMT</pubDate>
                  <description><![CDATA[ In the US, extravagance is a normal way of life. In China, it is a sin. Such contrasting consumer psyche between the two economies needs to be evened out before a sustained recovery of the post-bubble global economy can be achieved in the longer run, says Stephen Roach, chairman of Morgan Stanley Asia. ]]></description> 
                  <guid>http://knowledge.insead.edu/StephenRoachglobaloutlook090116.cfm</guid> 
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              <title>How to recapitalise banks: a personal view</title> 
                  <link>http://knowledge.insead.edu/Howtorecapitalisebanks090213.cfm</link> 
	              <pubDate>Fri, 13 Feb 2009 10:59:20 GMT</pubDate>
                  <description><![CDATA[ The current approach to solving the banking crisis is to put more government money into banks. The problem with this approach is that it creates fear of government meddling in the operational and financial decisions of the banking sector. The capitalist system can only survive if two conditions are met: managers are willing and capable of maximising  shareholder value.  ]]></description> 
                  <guid>http://knowledge.insead.edu/Howtorecapitalisebanks090213.cfm</guid> 
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              <title>Marketing in a downturn: time to push the panic button?</title> 
                  <link>http://knowledge.insead.edu/contents/MarketingInDownturn090217.cfm?vid=186</link> 
	              <pubDate>Thu, 19 Feb 2009 08:39:18 GMT</pubDate>
                  <description><![CDATA[ In a crisis, consumers generally start to rein in their spending and save more – just in case. But how should companies then market their goods and services in a downturn? <br>
<br>
In a new working paper by INSEAD professors ‘Paddy’ V. Padmanabhan and Pushan Dutt called ‘When to push the panic button?’, the authors drill down on the impact of economic crises on consumer behaviour in different categories of products and services in developing, as well as developed countries.<br>
 ]]></description> 
                  <guid>http://knowledge.insead.edu/contents/MarketingInDownturn090217.cfm?vid=186</guid> 
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              <title>Pricing guidelines for firms during a crisis</title> 
                  <link>http://knowledge.insead.edu/contents/PricingGuidelines.cfm</link> 
	              <pubDate>Thu, 19 Feb 2009 08:43:06 GMT</pubDate>
                  <description><![CDATA[ In their paper, When to Push the Panic Button?, INSEAD professors ‘Paddy’ V. Padmanabhan and Pushan Dutt show that consumers engage in consumption smoothing both across and within product categories, and that expenditure share of durable goods falls during a crisis. Also, within durables they find that expenditure on automobiles decreases, whereas expenditure on bicycles increases. ]]></description> 
                  <guid>http://knowledge.insead.edu/contents/PricingGuidelines.cfm</guid> 
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              <title>US economy recovery by year-end 'likely'</title> 
                  <link>http://knowledge.insead.edu/USeconomy090320.cfm?vid=196</link> 
	              <pubDate>Mon, 23 Mar 2009 09:29:42 GMT</pubDate>
                  <description><![CDATA[ Although the current global economic gloom continues to cause sleepless nights for many CEOs, a worldwide depression is now “very unlikely” and it’s a “likely scenario” that the US economy could start to recover from its recession by the end of this year, says Ilian Mihov, INSEAD professor of economics ]]></description> 
                  <guid>http://knowledge.insead.edu/USeconomy090320.cfm?vid=196</guid> 
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              <title>How to avert a financial crisis: why anticipation and management go a long way</title> 
                  <link>http://knowledge.insead.edu/AvertFinancialCrisis090716.cfm?vid=275</link> 
	              <pubDate>Tue, 21 Jul 2009 03:49:15 GMT</pubDate>
                  <description><![CDATA[ Companies are overreacting to the economic downturn but, had they been better prepared in the first place, they wouldn’t find themselves in such a fix. This is according to Ludo Van der Heyden, INSEAD Professor of Technology and Operations Management.   ]]></description> 
                  <guid>http://knowledge.insead.edu/AvertFinancialCrisis090716.cfm?vid=275</guid> 
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              <title>Leadercast: Greg Case, CEO of Aon</title> 
                  <link>http://knowledge.insead.edu/LeadercastwithGregCaseofAon090504.cfm?vid=239</link> 
	              <pubDate>Mon, 04 May 2009 10:24:07 GMT</pubDate>
                  <description><![CDATA[ When Greg Case, CEO of Aon, spoke at the INSEAD Leadership Summit in Europe two years ago, he warned that the magnitude and complexity of risk in the world today were increasing. ]]></description> 
                  <guid>http://knowledge.insead.edu/LeadercastwithGregCaseofAon090504.cfm?vid=239</guid> 
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              <title>Rethinking what shareholder value means</title> 
                  <link>http://knowledge.insead.edu/Rethinkingwhatshareholdervaluemeans090504.cfm?vid=240</link> 
	              <pubDate>Mon, 04 May 2009 10:27:14 GMT</pubDate>
                  <description><![CDATA[ By not ending too early, the current financial and economic crisis can actually be beneficial for shareholder value, says Urs Peyer, INSEAD associate professor of finance. ]]></description> 
                  <guid>http://knowledge.insead.edu/Rethinkingwhatshareholdervaluemeans090504.cfm?vid=240</guid> 
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              <title>In defence of hedge funds</title> 
                  <link>http://knowledge.insead.edu/Indefenceofhedgefunds090504.cfm?vid=82</link> 
	              <pubDate>Mon, 04 May 2009 10:28:53 GMT</pubDate>
                  <description><![CDATA[ Hedge funds have come in for scrutiny of late, particularly for their role in the financial crisis. According to Christopher Fawcett, CEO of Fauchier Partners, which manages hedge fund and alternative investment portfolios, hedge funds have become a scapegoat as they are an easy target. ]]></description> 
                  <guid>http://knowledge.insead.edu/Indefenceofhedgefunds090504.cfm?vid=82</guid> 
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              <title>Business leadership in a time of responsibility</title> 
                  <link>http://knowledge.insead.edu/Businessleadership.cfm?vid=241</link> 
	              <pubDate>Mon, 04 May 2009 10:31:25 GMT</pubDate>
                  <description><![CDATA[ Looking at the global economy today, we can see that a much greater proportion of the world operates under the philosophy called ‘market capitalism,’ observes Subi Rangan, associate professor of strategy and management, and the Shell fellow in business and the environment at INSEAD.  ]]></description> 
                  <guid>http://knowledge.insead.edu/Businessleadership.cfm?vid=241</guid> 
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              <title>Putting the squeeze on sustainability spending</title> 
                  <link>http://knowledge.insead.edu/Puttingthesqueezeonsustainabilityspending090504.cfm</link> 
	              <pubDate>Mon, 04 May 2009 10:44:46 GMT</pubDate>
                  <description><![CDATA[ In an economic downturn, budgets get cut – whether they be for training, travel, marketing or PR activities.  But these cuts go well beyond the normal discretionary items. Where companies had recently started spending money to promote and enhance their sustainability, they are now refocusing their attention on cost-cutting instead.<br>
<br>
 ]]></description> 
                  <guid>http://knowledge.insead.edu/Puttingthesqueezeonsustainabilityspending090504.cfm</guid> 
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              <title>Online social networking and the economic crisis</title> 
                  <link>http://knowledge.insead.edu/Socialnetworkingop-ed081215.cfm</link> 
	              <pubDate>Fri, 17 Apr 2009 07:56:34 GMT</pubDate>
                  <description><![CDATA[ In the fallout of the global financial meltdown, it’s difficult to think of a positive side to the economic crisis. But it actually might be good news for Web 2.0 social networking.<br>
<br>
<br>
<br>
It would reasonable to predict that social networking sites like LinkedIn, Plaxo, Ning — and even Facebook — will see their membership ranks soar in coming weeks and months as widespread insecurity drives people to connect with others to boost their social capital.  ]]></description> 
                  <guid>http://knowledge.insead.edu/Socialnetworkingop-ed081215.cfm</guid> 
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              <title>Message to Basel: Another way to avoid bank bailouts</title> 
                  <link>http://knowledge.insead.edu/bankbailouts_000.cfm</link> 
	              <pubDate>Wed, 25 Aug 2010 03:56:05 GMT</pubDate>
                  <description><![CDATA[ The Basel committee on Banking Supervision is set to finalise new capital requirements for banks by the end of the year. They are also looking closer at so-called cocobonds, or contingent convertibles as an alternative to issuing equity to meet these requirements. ]]></description> 
                  <guid>http://knowledge.insead.edu/bankbailouts_000.cfm</guid> 
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              <title>Setting the rules of the game: corporate governance and the banking sector</title> 
                  <link>http://knowledge.insead.edu/corporate-governance-banks-101213.cfm?vid=502</link> 
	              <pubDate>Mon, 10 Jan 2011 07:37:23 GMT</pubDate>
                  <description><![CDATA[ As the financial crisis morphs into a sovereign debt crisis, the corporate governance of banks is back under the spotlight. Whose interests should bank boards be serving? And who should be monitoring what banks do? ]]></description> 
                  <guid>http://knowledge.insead.edu/corporate-governance-banks-101213.cfm?vid=502</guid> 
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              <title>Are we really in a recovery?</title> 
                  <link>http://knowledge.insead.edu/INSEAD-knowledge-are-we-really-in-a-recovery-110627.cfm</link> 
	              <pubDate>Mon, 04 Jul 2011 04:30:51 GMT</pubDate>
                  <description><![CDATA[ It’s the infamous tug-of-war between Wall Street and Main Street: stock markets are recovering nicely and bondholders are being repaid, but unemployment lines are increasing and governments are finding their coffers falling deeper into the red because of lower tax revenues. Is this really a recovery? INSEAD professors weigh in.  ]]></description> 
                  <guid>http://knowledge.insead.edu/INSEAD-knowledge-are-we-really-in-a-recovery-110627.cfm</guid> 
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              <title>Irish unions seek a soft landing to harsh economic measures</title> 
                  <link>http://knowledge.insead.edu/INSEAD-knowledge-ireland-and-the-EU-Crisis-110608.cfm</link> 
	              <pubDate>Mon, 04 Jul 2011 04:35:11 GMT</pubDate>
                  <description><![CDATA[ Could a consolidated EU financial administration mean an end to draconian bailout repayment terms? Ireland’s Union leader thinks so… ]]></description> 
                  <guid>http://knowledge.insead.edu/INSEAD-knowledge-ireland-and-the-EU-Crisis-110608.cfm</guid> 
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              <title>Depression or Recession? Parallels with 1929</title> 
                  <link>http://knowledge.insead.edu/INSEAD-knowledge-depression-or-recession-parallels-with-1929-061127.cfm</link> 
	              <pubDate>Mon, 04 Jul 2011 04:29:26 GMT</pubDate>
                  <description><![CDATA[ John Godfrey Morris can tell you a little about The Depression. He lived through it. An American photojournalist, Morris covered the landings in Normandy on D-Day for Time Life and followed the allied troops into Paris. He returned to the city in 1983 and is still there today, having been made a member of the French Legion of Honour. Now, at the sprightly age of 94, John shares his recollections of the Great Depression with INSEAD Knowledge. ]]></description> 
                  <guid>http://knowledge.insead.edu/INSEAD-knowledge-depression-or-recession-parallels-with-1929-061127.cfm</guid> 
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              <title>The big picture from West to East</title> 
                  <link>http://knowledge.insead.edu/the-big-picture-east-to-west-101213.cfm?vid=504</link> 
	              <pubDate>Thu, 16 Dec 2010 07:10:06 GMT</pubDate>
                  <description><![CDATA[ Continuing debt issues have put central banks and governments the world over into uncharted waters. What lies ahead for the US, Europe and Asia? Sir Andrew Large, a former Deputy Governor of the Bank of England, Gertrude Tumpel-Guggerell, an ECB executive board member and Zhuang Juzhong, Deputy Chief Economist of the Asian Development Bank, share their outlook. ]]></description> 
                  <guid>http://knowledge.insead.edu/the-big-picture-east-to-west-101213.cfm?vid=504</guid> 
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