Major systemic crisis in the 21st century

Yvonne Kreis, Dietmar Leisen and Jorge Ponce

Chapter 2 in Systemic Risk:History, Measurement and Regulation, 2019, pp 25-33 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Technological and financial innovation, as well as the globalization of business, have had a huge impact on banks. From the late 1990s onward, the interconnectedness of banks and the competition within the banking sector have significantly increased on a global level; see, e.g., Kroszner (2000). Different from the crises in the 20th century, systemic crises in the 21st century have no longer been confined to individual countries but have a strong international, even a global, dimension…

Keywords: Systemic Risk; Financial Stability; Financial Regulation; Macro-Prudential Regulation; Transmission Channels; Global Financial Crisis; Risk Measurement; Cross-sectional Risk (search for similar items in EconPapers)
JEL-codes: G01 G15 G32 (search for similar items in EconPapers)
Date: 2019
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