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The Regulatory Responses to the Global Financial Crisis
Mr.Stijn ClaessensMs.Laura E. Kodres
其他書名
Some Uncomfortable Questions
出版International Monetary Fund, 2014-03-14
主題Business & Economics / Finance / Financial Risk ManagementBusiness & Economics / Banks & BankingBusiness & Economics / Taxation / General
ISBN148433597X9781484335970
URLhttp://books.google.com.hk/books?id=dq4ZEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into regulations agents’ incentives so as to align them better with societies’ goals; and acknowledging that risks of crises will always remain, in part due to (unknown) unknowns – be they tipping points, fault lines, or spillovers. Corresponding to these three tenets, specific areas for further reforms are identified. Policy makers need to resist, however, fine-tuning regulations: a “do not harm” approach is often preferable. And as risks will remain, crisis management needs to be made an integral part of system design, not relegated to improvisation after the fact.