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Neuere Finanzmarktaspekte von Bankenkrise, QE-Politik und EU-Bankenaufsicht

Author

Listed:
  • Paul J.J. Welfens
  • Samir Kadiric

    (Europäisches Institut für Internationale Wirtschaftsbeziehungen (EIIW))

Abstract

Die vorliegende Analyse thematisiert die Nachwirkungen der Transatlantischen Bankenkrise und richtet den Analysefokus auf die Entwicklung von Risikoprämien. Analytisch beleuchtet werden vor allem ausgewählte EU-Entwicklungen im Bereich der makroprudenziellen Finanzmarktaufsicht; darüber hinaus auch Probleme aus der internationalen Kapitalmarktdynamik. Zudem werden rating- bzw. aufsichtsrelevante Aspekte von Quantitative Easing in einer mittelfristigen Anschlussperspektive des Branson-Modells angesprochen sowie ausgewählte QE-Politikperspektiven thematisiert. Eine Darstellung der EU-Bankenaufsichtsreform ist Basis für wirtschaftspolitische Reformaspekte, die ergänzt werden um ausgewählte neue BREXIT-Perspektiven für die Bankenaufsicht. Schließlich wird Fragen der ausländischen Finanzmarkt- bzw. Banken-Deregulierung besondere Aufmerksamkeit gewidmet - im BREXIT-Kontext gibt es hier aus EU27-Sicht mittelfristig neue Probleme. Nach der Bankenkrise hat man in der EU und den USA erhebliche qualitative Verbesserungen bei der Bankaufsicht erreicht. Allerdings gibt es Verbindungs- bzw. Konsistenzprobleme zwischen Bankenaufsichtsmaßnahmen und der Geldpolitik (exemplarisch an den USA verdeutlicht). In der EU wird es noch Zeit brauchen, ein gemeinsames rationales Verständnis der Euro-Länder bei Banken- und Kapitalmarktunion bzw. politisch gemeinsam interpretierte Standards zu entwickeln; eine schwierige Herausforderung gerade auch im Kontext des denkbaren Austritts des Vereinigten Königreiches aus der EU. Direktinvestitions- und Deregulierungsfragen im BREXIT- bzw. Eurozonen-Kontext sind bislang kaum untersucht worden, was als wichtiger Forschungskomplex identifiziert wird. Eine Reihe von möglichen institutionellen Innovationen bzw. Verbesserungen wird vorgeschlagen.

Suggested Citation

  • Paul J.J. Welfens & Samir Kadiric, 2017. "Neuere Finanzmarktaspekte von Bankenkrise, QE-Politik und EU-Bankenaufsicht," EIIW Discussion paper disbei239, Universitätsbibliothek Wuppertal, University Library.
    • Handle: RePEc:bwu:eiiwdp:disbei239
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    References listed on IDEAS

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    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F3 - International Economics - - International Finance
    • G01 - Financial Economics - - General - - - Financial Crises
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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