Eine „dienende Rolle“ für den Finanzsektor? Nicht dienen, sondern funktionieren!
["Playing servant" by the financial sector? Not serving, butfunctioning!]
AbstractThe image is undisputed in the political debate that the function of the financial sector is to "play servant" to the real economy, but the consequences derived from this debate are controversial. Clearer is the academic concept to restrict the functions of the financial sector deliberately. But such restriction is hardly convincing from the different persepectives of functionality. Because of this indetermination and, respectively, restriction, a "servant role" is apparently inappropriate as a useful yardstick for reorienting the financial sector. In line with this image, it would certainly be possible to improve crisis prevention, but at the price of cuts in important functions so that a "sevant role" as a concept of crisis prevention would not be desirable either.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 24026.
Date of creation: 21 Jul 2010
Date of revision:
financial sector; real economy; functionality; decoupling; crisis prevention;
Find related papers by JEL classification:
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- G20 - Financial Economics - - Financial Institutions and Services - - - General
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- Barry Eichengreen, 2009. "From the Asian crisis to the global credit crisis: reforming the international financial architecture redux," International Economics and Economic Policy, Springer, vol. 6(1), pages 1-22, June.
- Martin Hellwig, 2008.
"Systemic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage Financial Crisis,"
Working Paper Series of the Max Planck Institute for Research on Collective Goods
2008_43, Max Planck Institute for Research on Collective Goods.
- Martin Hellwig, 2009. "Systemic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage Financial Crisis," De Economist, Springer, vol. 157(2), pages 129-207, June.
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