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Financial Stability - A Theoretical Approach

Author

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  • Maria Vasilescu

    (“Constantin Brâncuşi” University of Tîrgu-Jiu)

Abstract

Central banks have become poles of stability and decisive factors of globalization. Financial stability represents a national issue, a public asset, that requires both an intervention of public judicious authorities and their cooperation with private sector. Given the integration of financial markets during the last decades in both developed and developing countries, as direct result of globalization, liberalization and deregulation processes, and the high degree of innovation they felt over time, a shift in market participants’ perceptions on the importance of stable financial systems in economic growth arose. The global context characterized by the interdependence of markets and institutions, emergence of new techniques and instruments, increasing international capital flows stressed the new meanings of the analysis of financial stability.

Suggested Citation

  • Maria Vasilescu, 2012. "Financial Stability - A Theoretical Approach," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 129-132, March.
    • Handle: RePEc:cbu:jrnlec:y:2012:v:1:p:129-132
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    References listed on IDEAS

    as
    1. Alicia García Herrero & Pedro del Río, 2003. "Financial stability and the design of monetary policy," Working Papers 0315, Banco de España.
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    3. Paul A. Volcker, 1984. "The Federal Reserve position on restructuring of financial regulation responsibilities," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jul, pages 547-557.
    4. Garry J. Schinasi, 2009. "Defining Financial Stability and a Framework for Safeguarding It," Working Papers Central Bank of Chile 550, Central Bank of Chile.
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