The Systemic Risks – A Main Cause of the Financial Crisis

Dorin Hoarcã ()
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Dorin Hoarcã: Constantin Brancoveanu University of Piteºti

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 1473-1478

Abstract: In this article we attempt to set a starting point for a more comprehensive analysis of systemic risk as the primary ingredient to understand financial crises and as the main rationale for financial regulation, prudential supervision and crisis management. The author try to explain why the failures of financial firms are more likely to pose systemic risks than the failures of nonfinancial firms and discuss possible remedies for such risks. An economic recession on the scale predicted should lead to radical and comprehensive reform of the financial industry. Certain regulations, structures and procedures need to be put in place to ensure that a crisis of this kind never happens again.

Keywords: systemic risk; banks; financial crise; financial system (search for similar items in EconPapers)
JEL-codes: E44 G01 G21 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1473-1478

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