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The Systemic Risks – A Main Cause of the Financial Crisis

Author

Listed:
  • Dorin Hoarcã

    (Constantin Brancoveanu University of Piteºti)

Abstract

In this article we attempt to set a starting point for a more comprehensive analysis of systemic risk as the primary ingredient to understand financial crises and as the main rationale for financial regulation, prudential supervision and crisis management. The author try to explain why the failures of financial firms are more likely to pose systemic risks than the failures of nonfinancial firms and discuss possible remedies for such risks. An economic recession on the scale predicted should lead to radical and comprehensive reform of the financial industry. Certain regulations, structures and procedures need to be put in place to ensure that a crisis of this kind never happens again.

Suggested Citation

  • Dorin Hoarcã, 2012. "The Systemic Risks – A Main Cause of the Financial Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1473-1478, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1473-1478
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    More about this item

    Keywords

    systemic risk; banks; financial crise; financial system;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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