Financial Derivatives - Meanings Beyond Subprime Crisis Stigma
Derivatives are designed as complex financial instruments and their main aim is to manage the risk associated with the underlying asset, in order to ensure against fluctuations in value, or to profit from periods of inactivity, instability or decline. In recent years financial derivatives have experienced a fulminant development and also they have been perceived as an effective lever of the modern economy. The subprime crisis was triggered by a quite significant financial infrastructure glitch, which coalesced around certain factors influence, such as : highly permissive regulation of financial markets, speculative bubbles, underperforming risk management, liquidity injections and structural imbalances. Despite the fact that is a innovative segment and quite difficult affordable as understanding level of the operation mechanisms, financial derivatives were only the tool triggering this global dimension crisis.
Volume (Year): 4II (2012)
Issue (Month): (December)
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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.:
- Hui Tong & Shang-Jin Wei, 2008.
"Real Effects of the Subprime Mortgage Crisis: Is it a Demand or a Finance Shock?,"
NBER Working Papers
14205, National Bureau of Economic Research, Inc.
- Hui Tong & Shang-Jin Wei, 2008. "Real Effects of the Subprime Mortgage Crisis; Is it a Demand or a Finance Shock?," IMF Working Papers 08/186, International Monetary Fund.
- William F. Sharpe, 1964. "Capital Asset Prices: A Theory Of Market Equilibrium Under Conditions Of Risk," Journal of Finance, American Finance Association, vol. 19(3), pages 425-442, 09.
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, 03. Full references (including those not matched with items on IDEAS)
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