Crises in the financial regulation of finance-led capitalism: a Minskyan analysis
Financial markets are subject to more developed regulatory mechanisms than those of other sectors of the economy. This can be explained by the nature of financial transactions and by the extremely harmful consequences of financial crises for the entire economic system. The current regime of banking...
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| Format: | Article |
| Language: | English |
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Association Recherche & Régulation
2009-10-01
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| Series: | Revue de la Régulation |
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| Online Access: | https://journals.openedition.org/regulation/7620 |
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| author | Ana Rosa Ribeiro de Mendonça Simone Deos |
| author_facet | Ana Rosa Ribeiro de Mendonça Simone Deos |
| author_sort | Ana Rosa Ribeiro de Mendonça |
| collection | DOAJ |
| description | Financial markets are subject to more developed regulatory mechanisms than those of other sectors of the economy. This can be explained by the nature of financial transactions and by the extremely harmful consequences of financial crises for the entire economic system. The current regime of banking regulation is based on risk sensitive capital requirements and on market-based risk measurement and management, and it could be termed “supervised auto regulation”. The hypothesis put forward in this article is that this regulatory framework is not suitable for capitalist economies with highly developed financial systems and very little so for our specific finance-led accumulation regime. In the current scenario of widespread crisis, it seems especially relevant to analyze financial and, more specifically, banking regulation, from a Minskyan perspective. |
| format | Article |
| id | doaj-art-8e303ea4ac7b4e1fa3b60d26f6bf2949 |
| institution | Kabale University |
| issn | 1957-7796 |
| language | English |
| publishDate | 2009-10-01 |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj-art-8e303ea4ac7b4e1fa3b60d26f6bf29492025-01-30T14:27:13ZengAssociation Recherche & RégulationRevue de la Régulation1957-77962009-10-01610.4000/regulation.7620Crises in the financial regulation of finance-led capitalism: a Minskyan analysisAna Rosa Ribeiro de MendonçaSimone DeosFinancial markets are subject to more developed regulatory mechanisms than those of other sectors of the economy. This can be explained by the nature of financial transactions and by the extremely harmful consequences of financial crises for the entire economic system. The current regime of banking regulation is based on risk sensitive capital requirements and on market-based risk measurement and management, and it could be termed “supervised auto regulation”. The hypothesis put forward in this article is that this regulatory framework is not suitable for capitalist economies with highly developed financial systems and very little so for our specific finance-led accumulation regime. In the current scenario of widespread crisis, it seems especially relevant to analyze financial and, more specifically, banking regulation, from a Minskyan perspective.https://journals.openedition.org/regulation/7620Financial instabilityBanking regulationFinance-led capitalism |
| spellingShingle | Ana Rosa Ribeiro de Mendonça Simone Deos Crises in the financial regulation of finance-led capitalism: a Minskyan analysis Revue de la Régulation Financial instability Banking regulation Finance-led capitalism |
| title | Crises in the financial regulation of finance-led capitalism: a Minskyan analysis |
| title_full | Crises in the financial regulation of finance-led capitalism: a Minskyan analysis |
| title_fullStr | Crises in the financial regulation of finance-led capitalism: a Minskyan analysis |
| title_full_unstemmed | Crises in the financial regulation of finance-led capitalism: a Minskyan analysis |
| title_short | Crises in the financial regulation of finance-led capitalism: a Minskyan analysis |
| title_sort | crises in the financial regulation of finance led capitalism a minskyan analysis |
| topic | Financial instability Banking regulation Finance-led capitalism |
| url | https://journals.openedition.org/regulation/7620 |
| work_keys_str_mv | AT anarosaribeirodemendonca crisesinthefinancialregulationoffinanceledcapitalismaminskyananalysis AT simonedeos crisesinthefinancialregulationoffinanceledcapitalismaminskyananalysis |