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Jarvis, Christopher J.

The Rise and Fall of the Pyramid Schemes in Albania Christopher J Jarvis. [electronic resource] / Christopher J Jarvis. - Washington, D.C. : International Monetary Fund, 1999. - 1 online resource (36 p.) - IMF Working Papers; Working Paper ; No. 99/98 . - IMF Working Papers; Working Paper ; No. 99/98 .

What lessons can be drawn from the unprecedented growth and spectacular collapse of financial pyramid schemes in Albania? This paper discusses the origins of the pyramid schemes and the way the authorities handled them. It also analyzes the economic effects of the pyramid schemes, concluding that despite the descent into anarchy triggered by the schemes' collapse their direct effects on the economy are difficult to specify and appear to have been limited. Finally, the paper argues that prevention of pyramid schemes is better than cure, and that governments and international financial institutions should be vigilant in clamping down on frauds.

ISBN: 1451852126 : 15.00 USD

ISSN: 1018-5941

Standard No.: 10.5089/9781451852127.001 doi

Subjects--Topical Terms:
Criminal Activities
Law Enforcement
Ponzi Schemes
Pyramid Scheme
Pyramid Schemes

Subjects--Geographic Terms:
Albania