Get rid of banks and build up a modern financial world
AbstractThe financial crisis has revealed fatal institutional and structural deficits at the finance market. Politics has reacted to the financial crisis with a sea of legal bills and regulations. But all regulating efforts are merely system-imminent reparation measures and do not solve the core problems. For this, a fundamental financial reform is needed. This article analyzes the finance system’s shortcomings, documents the reform approaches from the past three years, and designs a base structure for modern finance architecture without banks.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 33501.
Date of creation: Sep 2011
Date of revision:
Financial crisis; Banking sector reforms; Financial sector reforms; virtual markets; peer-to-peer lending; P2P lending; online lending; finanical market regulation;
Find related papers by JEL classification:
- G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies
- L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
- D20 - Microeconomics - - Production and Organizations - - - General
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- A10 - General Economics and Teaching - - General Economics - - - General
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G01 - Financial Economics - - General - - - Financial Crises
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Stulz, Rene M., 2009.
"Credit Default Swaps and the Credit Crisis,"
Working Paper Series
2009-16, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Adrian, Tobias & Shin, Hyun Song, 2010.
"Liquidity and leverage,"
Journal of Financial Intermediation,
Elsevier, vol. 19(3), pages 418-437, July.
- Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises: A New Database," IMF Working Papers 08/224, International Monetary Fund.
- Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
- Demirguc-Kunt, Asli & Huizinga, Harry, 2009.
"Bank activity and funding strategies : the impact on risk and returns,"
Policy Research Working Paper Series
4837, The World Bank.
- Demirgüç-Kunt, Asli & Huizinga, Harry, 2010. "Bank activity and funding strategies: The impact on risk and returns," Journal of Financial Economics, Elsevier, vol. 98(3), pages 626-650, December.
- Demirguc-Kunt, Asli & Huizinga, Harry, 2009. "Bank Activity and Funding Strategies: The Impact on Risk and Return," CEPR Discussion Papers 7170, C.E.P.R. Discussion Papers.
- Demirgüc-Kunt, A. & Huizinga, H.P., 2009. "Bank Activity and Funding Strategies: The Impact on Risk and Return," Discussion Paper 2009-09, Tilburg University, Center for Economic Research.
- Andrea Enria & Lorenzo Cappiello & Frank Dierick & Sergio Grittini & Andrew Haralambous & Angela Maddaloni & Philippe Molitor & Fatima Pires & Paolo Poloni, 2004. "Fair value accounting and financial stability," Occasional Paper Series 13, European Central Bank.
- Daniel Heller & Nicholas Vause, 2011. "Expansion of central clearing," BIS Quarterly Review, Bank for International Settlements, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.