Eine „dienende Rolle“ für den Finanzsektor? Nicht dienen, sondern funktionieren!

"Playing servant" by the financial sector? Not serving, butfunctioning!

Lukas Menkhoff

MPRA Paper from University Library of Munich, Germany

Abstract: The image is undisputed in the political debate that the function of the financial sector is to "play servant" to the real economy, but the consequences derived from this debate are controversial. Clearer is the academic concept to restrict the functions of the financial sector deliberately. But such restriction is hardly convincing from the different persepectives of functionality. Because of this indetermination and, respectively, restriction, a "servant role" is apparently inappropriate as a useful yardstick for reorienting the financial sector. In line with this image, it would certainly be possible to improve crisis prevention, but at the price of cuts in important functions so that a "sevant role" as a concept of crisis prevention would not be desirable either.

Keywords: financial sector; real economy; functionality; decoupling; crisis prevention (search for similar items in EconPapers)
JEL-codes: G20 G28 (search for similar items in EconPapers)
Date: 2010-07-21
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