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The Impact Of The Financial Crisis On The Theory And Practice Of Financial System Supervision

Author

Listed:
  • Roxana Hetes

    (West University of Timisoara, Romania)

  • Alexandru Crasneac

    (West University of Timisoara, Romania)

  • Alexandru Avram

    (West University of Timisoara, Romania)

Abstract

The recent global financial crisis has reopened the debate about macroeconomic policies’ objectives, but also the need and extent of state involvement in the functioning of the economy, either directly or indirectly. This has exposed some weaknesses in the system of regulation and supervision of the financial system and the its architecture, especially in the treatment of systemic risks and vulnerabilities, but also the financial implications of the globalization process. The global nature of financial crisis highlighted the fact that, although integrated financial markets offer a number of significant benefits, risks involved are not negligible. Therefore, to ensure the financial stability of an increasingly integrated landscape there was felt the need for reform of the financial system architecture, both nationally and internationally.

Suggested Citation

  • Roxana Hetes & Alexandru Crasneac & Alexandru Avram, 2013. "The Impact Of The Financial Crisis On The Theory And Practice Of Financial System Supervision," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 172-180, April.
    • Handle: RePEc:cbu:jrnlec:y:2013:v:2:p:172-180
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    References listed on IDEAS

    as
    1. Barth,James R. & Caprio,Gerard & Levine,Ross, 2008. "Rethinking Bank Regulation," Cambridge Books, Cambridge University Press, number 9780521709309.
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