Come difendere la globalizzazione e salvaguardare i sistemi bancari dal contagio

Mario Sarcinelli ()
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Mario Sarcinelli: Dexia Crediop

Moneta e Credito, 2012, vol. 65, issue 257, 9-47

Abstract: The work summarises the main literature on the impact of globalisation and of the crisis on banking systems.The main conclusion is that a more compelling approach to financial regulation appears as necessary, though the complete homogenisation of financial systems is not a goal to be sought. The current approaches in the Anglo-Saxon countries, based on the segmentation of banking activities seems a right choice, due to both the political difficulties in enacting a stricter regulation of finance and the practical difficulty of regulating a sector pervaded by financial innovation. However, both the Volcker rule and the British approach of ring-fencing, suffer from two limitations: the risk of transferring even more risk to the shadow banking system, and the difficulty in practice to distinguish between legitimate hedging activities and forbidden speculative activities.

Keywords: sistemi bancari; globalizzazione; contagio crisi (search for similar items in EconPapers)
JEL-codes: G01 G18 G28 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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