Stability Versus Instability In The Context Of Financial Globalization
The financial environment has undergone a profound transformation in the context of globalization, financial flows of scale, diversification of financial instruments, increasing interdeperndence of national financial markets, being of critical importance. However, while global financial markets play a crucial role in the distribution of global capital, they do so in a way that can have profound negative implications. This paper tries to demonstrate that, globalization is capable of causing instability in the whole world, enabling broad crises, and, not least, increasing the danger of recession in the world, based on the manifestation of the global systemic risk. Knowing the risks and distortions that can affect the stability of the financial sector in the context of financial globalizaton, as well as their consequences, is especially important for the design of the regulation and surveillance process, plus for the formulation of crisis remedial and prevention actions.
Volume (Year): (2009)
Issue (Month): 3 (May)
|Contact details of provider:|| Postal: Universitatea Al. I. Cuza; B-dul Carol I nr. 22; Iasi|
Phone: 004 0232 201070
Fax: 004 0232 217000
Web page: http://rebs.ro/
More information through EDIRC
References listed on IDEAS
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.:
- Carmen M. Reinhart & Kenneth S. Rogoff, 2014.
"This Time is Different: A Panoramic View of Eight Centuries of Financial Crises,"
Annals of Economics and Finance,
Society for AEF, vol. 15(2), pages 1065-1188, November.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," NBER Working Papers 13882, National Bureau of Economic Research, Inc.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2008. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," CEMA Working Papers 595, China Economics and Management Academy, Central University of Finance and Economics.
- Allen, William A. & Wood, Geoffrey, 2006. "Defining and achieving financial stability," Journal of Financial Stability, Elsevier, vol. 2(2), pages 152-172, June.
- William A. Allen & Geoffrey Wood, 2005. "Defining and Achieving Financial Stability," FMG Special Papers sp160, Financial Markets Group.
- Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises; A New Database," IMF Working Papers 08/224, International Monetary Fund. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:aic:revebs:y:2009:i:3:hetesr. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sireteanu Napoleon-Alexandru)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.