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.
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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; Insider Trading
- 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
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