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2013•RePEc: Research Papers in EconomicsOpen access

ASPECTS REGARDING THE CURRENT ECONOMIC CRISIS AND ITS INFLUENCE ON THE FINANCIAL SECTOR

Hetes Roxana, Alexandru Avram

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Abstract

The recent global financial and economic crisis has revealed some weaknesses in the regulation and supervision of the financial system and its architecture, especially in the treatment of systemic risks and vulnerabilities, and also the financial implications and downsizes of the globalization process. The global nature of financial crisis has highlighted the fact that, although integrated financial markets may offer a number of significant benefits, risks involved are worthy of taking into consideration. In order to ensure the financial stability of the highly integrated global landscape is needed the reform of the financial system architecture, both nationally and internationally.

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The recent global financial and economic crisis has revealed some weaknesses in the regulation and supervision of the financial system and its architecture, especially in the treatment of systemic risks and vulnerabilities, and also the financial implications and downsizes of the globalization process. The global nature of financial crisis has highlighted the fact that, although integrated financial markets may offer a number of significant benefits, risks involved are worthy of taking into consideration. In order to ensure the financial stability of the highly integrated global landscape is needed the reform of the financial system architecture, both nationally and internationally.

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Available abstract

The recent global financial and economic crisis has revealed some weaknesses in the regulation and supervision of the financial system and its architecture, especially in the treatment of systemic risks and vulnerabilities, and also the financial implications and downsizes of the globalization process. The global nature of financial crisis has highlighted the fact that, although integrated financial markets may offer a number of significant benefits, risks involved are worthy of taking into consideration. In order to ensure the financial stability of the highly integrated global landscape is needed the reform of the financial system architecture, both nationally and internationally.

Key concepts: Geography of finance, Financial crisis, Systemic risk, Financial system, Global financial system, Financial regulation, Order (exchange), Business

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