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Sovereign debt crises and financial bailouts: the anatomy and components of an everlasting relationship (I)

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  • Ojo, Marianne

Abstract

This paper highlights why financial bailouts are an inevitable and necessary element in global efforts aimed at ensuring that financial stability is sustained. How could such bailouts be conducted in such a way that moral hazard does not become a too frequent, ever recurring issue? Systemic risks constitute a crucial reason for the need to avoid global instability. Adequately and promptly responding to “too big to fail” institutions and nations also constitutes a crucial component of the need to avoid and contain the spread of systemic risks.

Suggested Citation

  • Ojo, Marianne, 2012. "Sovereign debt crises and financial bailouts: the anatomy and components of an everlasting relationship (I)," MPRA Paper 39194, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:39194
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    File URL: https://mpra.ub.uni-muenchen.de/39194/1/MPRA_paper_39194.pdf
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    More about this item

    Keywords

    systemic risks; financial regulation; sovereign debts; bailouts; moral hazard; supervision; monetary; fiscal policies; IMF; monetary unions; regional unions; ECB;
    All these keywords.

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • D00 - Microeconomics - - General - - - General
    • G01 - Financial Economics - - General - - - Financial Crises

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