Regulação, Concorrência e Inovações Financeiras: Quatro Décadas de Dinamismo, Euforia, Fragilidade Financeira e Crises no Sistema Financeiro dos EUA

Everton Sotto Tibiriçá Rosa ()
Additional contact information
Everton Sotto Tibiriçá Rosa: FACE-UFG, Ciências Econômicas

No 42, Working papers - Textos para Discussao do Curso de Ciencias Economicas da UFG from Curso de Ciencias Economicas da Universidade Federal de Goias - FACE

Abstract: The article deals with the major changes occurring in the course of the last four decades in the US financial system. It highlighted the role of financial innovations for the chain of events that engendered the crisis of subprime segment of the housing market and spread to the US financial system and the rest of the world. Highlights the role of banks and financial institutions, as well as the main financial instruments involved in vulnerability observed in financial markets. Beside the economic instability - from 1970 - the coming technological innovations in the area of information and communication and increased competition among depository institutions regulated and unregulated financial institutions, the vision of the work is that governments have a role decisive for the formation of an environment of financial fragility through its liberalizing reforms. This allowed the unfolding of a crisis comparable in terms of instability, only to the Crisis of 1929. Universal banks were the basis of the spread of pervasive effects of the boom and the financial crisis in an environment of global competition and operating in liberalized financial multimarkets.

Keywords: financial innovations; depository institutions; capital markets; financial deregulation (search for similar items in EconPapers)
Pages: 30 pages
Date: 2014-06
References: Add references at CitEc
Citations:

Downloads: (external link)
https://files.cercomp.ufg.br/weby/up/118/o/TD_042.pdf First version, 2014 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ufb:wpaper:042

Access Statistics for this paper

More papers in Working papers - Textos para Discussao do Curso de Ciencias Economicas da UFG from Curso de Ciencias Economicas da Universidade Federal de Goias - FACE Universidade Federal de Goias UFG - Campus Samambaia (Campus II) Rodovia Goiania/Nova Veneza, Km 0 CEP 74690-900, Goiania, Brasil. Contact information at EDIRC.
Bibliographic data for series maintained by Sandro E. Monsueto ().