The paper provides a summary overview of post-crisis macroeconomic and regulatory developments in the US and the EU. Financial de-regulation and re-regulation in advanced countries underwent broad common swings over the last century and especially in the financial globalization decades. Significant albeit subtle differences in normative details between countries still allow for regulation arbitrage and regulation gaming, further advantaging large financial institutions with respect to locally ‘connected’ finance. As extensive inequality is likely to increase systemic risks, the paper highlights a crucial, largely unaddressed issue in reforming finance within the so-called advanced countries – namely, how finance can contribute to providing inclusive growth.

Beretta, S., Systemic Risk, Regulation and Supervision. Reading Recent History: U.S. and European Approaches, in "centesimus Annus-pro Pontifice" Foundatio, ". A. P. F. (ed.), Finance and the Common Good. Placing People at the Center of the Economy and Society, Paulist Press, Mahwah, NJ 07430 2016: 85- 96 [http://hdl.handle.net/10807/92355]

Systemic Risk, Regulation and Supervision. Reading Recent History: U.S. and European Approaches

Beretta, Simona
Primo
2016

Abstract

The paper provides a summary overview of post-crisis macroeconomic and regulatory developments in the US and the EU. Financial de-regulation and re-regulation in advanced countries underwent broad common swings over the last century and especially in the financial globalization decades. Significant albeit subtle differences in normative details between countries still allow for regulation arbitrage and regulation gaming, further advantaging large financial institutions with respect to locally ‘connected’ finance. As extensive inequality is likely to increase systemic risks, the paper highlights a crucial, largely unaddressed issue in reforming finance within the so-called advanced countries – namely, how finance can contribute to providing inclusive growth.
Inglese
Finance and the Common Good. Placing People at the Center of the Economy and Society
978-0-8091-4973-5
Paulist Press
Beretta, S., Systemic Risk, Regulation and Supervision. Reading Recent History: U.S. and European Approaches, in "centesimus Annus-pro Pontifice" Foundatio, ". A. P. F. (ed.), Finance and the Common Good. Placing People at the Center of the Economy and Society, Paulist Press, Mahwah, NJ 07430 2016: 85- 96 [http://hdl.handle.net/10807/92355]
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/10807/92355
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