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The long-term financing of the economy in the new regulatory environment

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  • Kessler, D.

Abstract

In the wake of the crisis and the recent changes to financial regulation, the issue of how to guarantee the long-term financing of the economy has become more pressing than ever. Before examining the consequences of these changes, however, it is important to pinpoint precisely what the economy needs in terms of long-term financing, and to what extent long-term investment is, by nature, riskier than short-term investment. The last part of this article then goes on to examine various adjustments that might be made to financial regulations, government management and taxation, in order to ensure a sufficient flow of long-term financing, which is a necessary condition for sustainable economic recovery and growth.

Suggested Citation

  • Kessler, D., 2015. "The long-term financing of the economy in the new regulatory environment," Financial Stability Review, Banque de France, issue 19, pages 137-145, April.
    • Handle: RePEc:bfr:fisrev:2015:19:14
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