Partly reprinted from JOURNAL OF FINANCIAL SERVICES RESEARCH 9:3-4, 1996, VIII, 300 p.
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Coping with Financial Fragility and Systemic Risk identifies and discusses the sources of perceived fragility in financial institutions and markets and its potential consequences throughout the economy. It then examines private sector solutions for dealing with systemic risk and mitigating the consequences. Finally, the book examines regulatory solutions to these problems.
Introduction. Sources of financial fragility. Financial factors in the economics of capitalism; H.P. Minsky. Is the banking and payments system fragile? G.J. Benston, G.G. Kaufman. Financial fragility: issues and policy implications; C.W. Calomiris. Off-exchange derivatives markets and financial fragility; F.R. Edwards. Comment; J.J. Sijben. Comment; S.I. Greenbaum. Private sector solutions. Market discipline of banks' riskiness: a study of selected issues; F. Bruni, F. Paterno. Private sector solutions to payments system fragility; R.A. Eisenbeis. Derivatives and stock market volatility: is additional government regulation necessary? S.M. Tinic. Global financial fragility and the private sector; C.R. Taylor. Regulatory solutions. Banking regulation as a solution to financial fragility; P.M. Horvitz. Regulatory solutions to payment system risks: lessons from derivatives markets; D.L. Mengle. International dimensions of the regulation of banking and the securities business: systemic stability and competitive neutrality issues; H.A. Benink, D.T. Llewellyn. Private and regulatory solutions: discussion. Banking; C. de Boissieu. The payment and settlement systems; C.E.V. Borio. International; C. Goodhart. Summary of conference; R. Aliber. Other papers. Supervision of derivative instruments; J.L. Jordan. Coping with financial fragility: a global perspective; A.J. Schwartz. Summary of academic conference; B. Riley. Financial fragility: Sources, prevention and treatment; A. Crockett. Fragility in the banking world; H.O. Ruding. Financial fragility and supervision: discussion; M. van Nieuwkerk. Discussion; P. Rutteman.