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Defining Financial Stability

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Author Info

  • Garry J. Schinasi

Abstract

The main objective of this paper is to propose a definition of financial stability that has some practical and operational relevance. Financial stability is defined in terms of its ability to facilitate and enhance economic processes, manage risks, and absorb shocks. Moreover, financial stability is considered a continuum: changeable over time and consistent with multiple combinations of the constituent elements of finance. The paper also discusses several practical implications of the definition that should be considered when using it for policy analysis or developing an analytical framework.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 04/187.

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Length: 22
Date of creation: 01 Oct 2004
Date of revision:
Handle: RePEc:imf:imfwpa:04/187

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Related research

Keywords: Financial stability;

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Citations

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Cited by:
  1. Reza Siregar & Lim, C.S. Vincent, 2011. "Living with Macro-financial Linkages: Policy Perspectives and Challenges for SEACEN Countries," Staff Papers, South East Asian Central Banks (SEACEN) Research and Training Centre, number sp79, March.
  2. Masahiro Kawai & Peter J. Morgan, 2012. "Central Banking for Financial Stability in Asia," Finance Working Papers 23328, East Asian Bureau of Economic Research.
  3. ULGEN, Faruk, 2010. "Crise systémique et régulation financière
    [Systemic crisis and financial regulation]    ," MPRA Paper 35466, University Library of Munich, Germany.
  4. Aka, Brou E., 2006. "On the duration of the financial system stability under liberalization," Emerging Markets Review, Elsevier, vol. 7(2), pages 147-161, June.
  5. Catherine Lubochinsky & Vincent Fleuriet, 2006. "Marchés d’actions et stabilité financière : les enjeux de la régulation," Revue d'Économie Financière, Programme National Persée, vol. 82(1), pages 251-261.
  6. Benjamin M. Tabak & Marcela T. Laiz & Daniel O. Cajueiro, 2010. "Financial Stability and Monetary Policy - The case of Brazil," Working Papers Series 217, Central Bank of Brazil, Research Department.
  7. Catherine Lubochinsky & Vincent Fleuriet, 2006. "Equity markets and financial stability : regulatory issues," Revue d'Économie Financière, Programme National Persée, vol. 82(1), pages 231-240.
  8. Luis F. Brunstein, 2008. "Policies to reduce instability," Revista de Economía del Caribe, UNIVERSIDAD DEL NORTE.
  9. Iman Gunadi, 2011. "Addressing Risks in Promoting Financial Stability," Research Studies, South East Asian Central Banks (SEACEN) Research and Training Centre, number rp84, March.
  10. Udaibir S. Das & Jay Surti & Faisal Ahmed & Michael G Papaioannou & Guilherme Pedras, 2010. "Managing Public Debt and Its Financial Stability Implications," IMF Working Papers 10/280, International Monetary Fund.
  11. Peeters, Marga & Sabri, Nidal Rachid, 2012. "International financial integration of Mediterranean economies : A bird’s-eye view," MPRA Paper 38081, University Library of Munich, Germany.
  12. Maria Vasilescu, 2012. "Financial Stability - A Theoretical Approach," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 129-132, March.

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