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Table Of Contents

I. The Forces Driving Change
Technology
... Deregulation, and Institutional Change
II. How Financial Transactions have Changed
Arm’s length transactions or “disintermediation”
Integration of Markets
Reintermediation
Summary
III. Are Financial Systems Safer?
Greater demand on markets
Incentives Leading to Riskier Markets
Financial Risk and Real Risk
Can the traditional providers of liquidity be relied upon?
Do Investors have the Incentive or Ability to restrain Managers?
IV. Monetary and Regulatory Responses
Changes in the Process of Credit Expansion and Contraction
Prudential Supervision
Conclusion
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Document116112005450.6329004

Document116112005450.6329004

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Published by Jean Ratsirahonana

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Published by: Jean Ratsirahonana on Dec 21, 2011
Copyright:Attribution Non-commercial

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12/21/2011

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