SYSTEMIC RISK: AN OVERVIEW WITH APPLICATIONS TO TRANSITIONAL ECONOMIES

Philip F. Bartholomew and Gary Whalen
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Philip F. Bartholomew: Senior Economist, House Banking Committee, U.S. Congress, USA
Gary Whalen: Senior Economist, Bank Research Division of the Office of the Comptroller of the Currency, USA

Chapter 7 in Emerging Financial Markets in the Global Economy, 2000, pp 155-192 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionSystemic EventsExternalities and “Systemic Events”Contagion as a Criterion for Defining Systemic RiskMonetary Contractions as the Source of Systemic EventsA Broader Definition of Systemic EventsSignificance of Systemic RiskDiffering Views on the Significance of Systemic RiskSome Reservations About the “New View” of Systemic RiskChanges in Systemic Risk Over TimeFactors Affecting the Seriousness of Systemic RiskConnectivityPortfolio concentrationHomogeneityInformationPolicies for Addressing Systemic RiskLender of Last ResortDeposit InsuranceSupervision and RegulationPrompt Corrective ActionDisclosureMacroeconomic Stabilization PoliciesDifferences in Financial CrisesConcluding RemarksReferences

Keywords: Emerging Market Economies; Finance; Developing Countries; Globalization; Capital Flows; Equity Markets; Systemic Risk; Microfinance; Prudential Regulation; Pension Reform; Foreign Direct Investment (search for similar items in EconPapers)
Date: 2000
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