Après la crise financière : « réguler » ou refondre ?

Revue de la Régulation

关键词: Finacial crisis;    financial globalisation;    financial innovation;    speculative bubbles;   

DOI  :  10.4000/regulation.7461

来源: DOAJ

【 摘 要 】

The magnitude of the crisis directly questions the effectiveness of prudential regulations as they are doomed to encounter three major obstacles: 1) the competition forces as they drive agents possibly against their will; 2) the essential impossibility of a proper risk control ex ante; 3) the symbolic effects of “innovation” as a social belief as it twists collective expectations and risk appraisal. Contrary to the prudential approaches, too likely to be overwhelmed by a new bubble dynamic, the present paper advocates for a radical overhaul of financial structures, according to the twoflold principle of a drastic decrease in the profit-risk profile of capital market activities and of their severe “desophistication” as well. Several propositions are made in this line including one aiming at a new brand of banking structures giving way to what could dubbed a “socialized credit system”.

【 授权许可】

Unknown