Incomplete Markets and Financial Instability. The Role of Information

Cristian Ionescu ()
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Cristian Ionescu: Academy of Economic Studies, Romania

Annals of the University of Petrosani, Economics, 2012, vol. 12, issue 1, 141-150

Abstract: Considering the way that the world economy has evolved over the last 30-40 years, there was a transition from a predominant real economy to a predominant financial economy. Once, there were prevalent economic crises (when the real economy was important); today, the economies all around the world face prevalent financial crises; therefore, it is extremely important to study the role of financial markets, especially the incomplete markets feature (given by the imperfect information). The paper aims to analyze the relationship between imperfect information and incomplete financial markets and the way they are affecting the financial stability.

Keywords: financial instability; imperfect markets; incomplete markets; imperfect information; monetary policy; financial markets (search for similar items in EconPapers)
JEL-codes: E44 G12 G14 G21 G23 (search for similar items in EconPapers)
Date: 2012
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