Understanding the Financial Crisis: Roots and Developments in the Financial Sector

European View - Tập 8 Số 1 - Trang 97-103 - 2009
Norbert Walter1
1Deutsche Bank Research, Theodor-Heuss-Allee 70, Frankfurt, Germany

Tóm tắt

The current financial downturn has had numerous effects worldwide. There is great demand in 2009 for tighter regulation in order to overcome this crisis and prevent future ones. The author warns, however, that this must not result in the dismantling of financial market integration and the stifling of financial innovation. Though it seems hard to believe these days, the market-based financial system has made a big contribution to global growth. While some of the structures created have not been sustainable, reverting to fragmented, nation-based, and overregulated banking markets is not the answer. Walter stresses the need for greater resilience in terms of more sophisticated market participants, stronger market infrastructure and supra-national structures for the regulation and supervision of the global financial system.

Từ khóa


Tài liệu tham khảo

Breuer R-E, 2000, Politics in the 21st century—in the tow of the financial markets?

CRPMG, 2008, Containing systemic risk: the road to reform.

Financial Stability Forum, 2008, Report of the financial stability forum on enhancing market and institutional resilience.

Hoffman D., 2006, Insuring public finances against natural disasters: a survey of options and recent initiatives.

IIF (Institute of International Finance), 2008, Final report of the committee on market best practices for financial institutions and financial products.

Initiative Finanzstandort Deutschland, 2008, Finanzstandort Deutschland

Levine R., 2003, Fed Reserv Bank St Louis Rev, 85, 31

Wyman M.O., 2003, Study on the financial integration of European mortgage markets.

Thông tin
Thông tin xuất bản

European View

Tập 8 Số 1

97-103

Thông tin tác giả