Smaller but Safer?

Stephanou, Constantinos

World Bank, Washington, DC

关键词: ARBITRAGE;    ASSET PRICES;    BALANCE SHEETS;    BANK ASSETS;    BANK CONSOLIDATION;   

RP-ID  :  49516

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Global trends taken for granted inrecent decades, the big expansion in global financial assetscompared with underlying economic activity, growing globalfinancial integration, shrinking role of the state infinancial systems, and rising share of cross-borderownership of financial institutions, may reverse over theforeseeable future. In addition, the structure of financialsystems, particularly in developed countries, will likelybecome oriented less toward capital markets and more towardtraditional (and simpler) banking activities. The impact oneconomic growth and overall welfare is likely to benegative, perhaps the price author have to pay for living ina brave new (and presumably safer) financial world.