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Ethical Banks: An Alternative in the Financial Crisis

Author

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  • Mascu Simona

    (Universitatea „Ovidius”Constanta)

Abstract

The goal of this paper is to discuss the issues of ethics, moral hazard and behavior in banking regulation of the global financial system. The paper is focused on the specific characteristics of ethical banks, compared with those of traditional ones, and provides a picture of the extent of this phenomenon. Through this paper I also intend to argue that the recent crisis has not just been a banking crisis, but also a crisis of professionalism and banking ethics. The credit crisis calls into question the functionality and good performance of traditional banks. The full incorporation of ethical values and principles by traditional financial intermediaries might be a form to solve their misleading financial situation.

Suggested Citation

  • Mascu Simona, 2010. "Ethical Banks: An Alternative in the Financial Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1680-1684, May.
    • Handle: RePEc:ovi:oviste:v:10:y:2010:i:1:p:1680-1684
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    More about this item

    Keywords

    ethical banking; sustainability; financial crisis; moral hazard;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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