Financial Stability, World Financial Crisis and Financial Markets´ Regulation: Some New Issues

Vladislav Pavlat ()
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Vladislav Pavlat: Institute of Finance and Administration

ACTA VSFS, 2009, vol. 3, issue 1, 48-61

Abstract: This article confronts selected theoretical concepts of financial crisis, financial stability and financial regulation with the real situation at the world economic scene. The author´s views are mainly based on the results of a research group at the Institute of Administration and Finance in Prague (IAF), headed by Antonin Kubicek. This group has been analysing selected partial problems connected with the phenomena of financial markets´ regulation since 2002 in the framework of two grants (2004-2006 – public grant and 2008 – internal grant). Several research results were presented by research team members [Antonin Kubicek, Vladislav Pavlat, Jaroslav Šulc, Václav Køivohlávek, František Jakub – former Chairman of the Czech Security Commision and others] members at the occasion of two International Conferences organized by the Institute of Administration in 2005 and 2007. The author proposes, inter alia, to broaden the recognized principles of international regulation which should be systematic, dynamical, flexible, adaptable, innovative, reliable, not expensive and efficient. As for an advisable way-out of the global crisis, a well prepared experimental individual approach has to be applied – an indispensable part of which is a sound financial regulation and supervision.

Keywords: financial crisis; financial stability; financial safety-nets; financial regulation and supervision; mega-regulator; self-regulation; co-operation and co-ordination of international regulatory measures (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:prf:journl:v:3:y:2009:i:1:p:48-61

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