Introduction: Global Banking, Financial Stability, and Post-Crisis Policy Challenges Symposium
Introduction: Global Banking, Financial Stability, and Post-Crisis Policy Challenges Symposium
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简介:全球银行业、金融稳定和危机后政策挑战研讨会
DOI:
10.1057/ces.2014.19
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发表时间:
2014
影响因子:
0.8
通讯作者:
Stefanie Kleimeier
中科院分区:
文献类型:
--
作者:
Harald Sander;Stefanie Kleimeier
© 2014 ACES. All rights reserved. 0888-7233/14 www. palgrave-journals. com/ces cost and benefits of global banking. To this end, a series of panel discussions were held during the symposium. 1 The first panel, featuring Ralph De Haas from the European Bank for Reconstruction and Development, Professor Brian Lucey from Trinity College Dublin, and Robert McCauley from the Bank of International Settlements, debated the drivers of globalization and de-globalization of banking before and after the crisis, respectively. In the second panel, Maria Nieto of the Bank of Spain, Freddy Van den Spiegel, Advisor to BNP Paribas Fortis, and Professor Paul Wachtel from New York University, discussed the implications of global banking for financial stability from their respective different perspectives as central bankers, practitioners, and academics. In the final panel, Cinzia Alcidi of the Centre for European Policy Studies in Brussels, Professor Ansgar Belke from the University of Duisburg-Essen & Monetary Expert Panel EU Parliament, Professor Iftekhar Hasan of Fordham University, Hans-Helmut Kotz from Harvard University and former Director of the Deutsche Bundesbank, and Professor Dirk Schoenmaker of the Duisenberg School of Finance at University of Amsterdam debated the policy lessons from the financial crisis. The symposium was attended by a large and actively participating audience of both, academics and practitioners. For this symposium in Comparative Economic Studies (CES), we have asked the panelists to reflect on the Maastricht discussions and share their views on the lessons learned from the financial crisis of 2008 with the broader audience in the profession as well as with policymakers and an interested civil society. We are grateful to the panelists, who have invested their scarce and valuable time to contribute to this special edition and to go through the rigorous review process of CES. Special thanks are due to CES and its editors, in particular Professor Paul Wachtel, for making this special issue possible. A rapid globalization process of international finance is one the major characteristics of the economic environment in the last decade, with global banking as a major driver and the most volatile component of global finance. Although financial globalization has been praised for improving the global allocation of capital, the financial crisis of 2007/2008 and the subsequent Eurozone crisis have clearly revealed the threats to financial stability associated with banking globalization. How to reap the benefits from financial globalization without compromising financial stability? Theoretically, there is a strong case for global coordination of macroeconomic policies and establishing global institutions, such as a global deposit insurance scheme, an international lender of last resort, a global common regulatory body, and a1 The program of the symposium is available via the European Centre for Corporate Engagement website at http://www. corporate-engagement. com/event/28. Here you also find links to two interviews taken on the day of the symposium with two panelists, Paul Wachtel and Hans-Helmut Kotz.
DOI:
10.1093/acprof:oso/9780199971596.001.0001
发表时间:
2013
影响因子:
--
作者:
D. Schoenmaker
通讯作者:
D. Schoenmaker