Kregel / Rezende Financial Stability, Systems and Regulation

1. Auflage 2017
ISBN: 978-1-315-43827-6
Verlag: Taylor & Francis
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 322 Seiten

Reihe: Routledge Critical Studies in Finance and Stability

The work of the late economist Hyman Minsky’s has never been more relevant than in the aftermath of the 2007-2008 global financial crisis. Throughout his career, Jan Kregel has called attention to Minsky’ contributions to understanding the evolution of financial systems, the development of financial fragility and instability, and to designing the financial structure necessary to support the capital development of the economy. Building on Minsky, Kregel developed a framework to analyze how different financial structures develop financial fragility over time, focusing in particular on the impact of the structure of financial markets. Rather than characterizing financial systems as market based or bank based, Kregel argued that it is necessary to distinguish between the risks that are carried on the balance sheets of banks and other financial institutions.

This volume highlights Kregel’s major contributions to the theory of financial regulation and economic development. Throughout Kregel’s career, he has published extensively on developing a paradigm to assess and design financial and regulatory structures to continually meet their objectives of financial stability and in providing finance for development. This book also introduces Kregel’s recent writings on advancing Minsky’s theory of financial instability and regulation since the onset of the global financial crisis. Kregel’s approach provides a strong theoretical background to understand the making and unfolding of the crisis and helps us to draw policy implications to improve financial stability, and suggest an alternative financial structure for a market economy.

Autoren/Hrsg.

Kregel, Jan

Rezende, Felipe

Rezende, Felipe C.

Fachgebiete

• Wirtschaftswissenschaften Finanzsektor & Finanzdienstleistungen Bankwirtschaft

Inhaltsverzeichnis

Introduction 1. Minsky-Fisher and Financial Instability 2. The Evolution of Financial Systems 3. Minsky’s theory in an international context: Financial Globalization and Emerging Markets 4. Financial Stability as a Chimera: Using Minsky to Understand the US Experience of Financial Fragility

Über Autor(innen)

Jan Kregel, Director of Research, Levy Economics Institute of Bard College, USA

Felipe Carvalho de Rezende, Hobart and William Smith Colleges, USA