Designing macroprudential regulation: policy, tools and early warning signals (CROSBI ID 603597)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Stojanović, Alen ; Krišto, Jakša
engleski
Designing macroprudential regulation: policy, tools and early warning signals
Macroprudential regulation is the missing pillar of financial sector regulation. It is a comprehensive policy with the goal of safeguarding financial stability. The macroprudential approach was seen as having two dimensions. The first one is risk development over time, with special reference to the issue of procyclicality of the financial system and the second one, risk distribution within the financial system, also known as the cross-sectoral dimension. The lack of macroprudential approach to regulation and supervision of financial institutions has been highlighted during the recent financial crisis. In previous years, regulators and supervisors were focused on the microprudential supervision of individual financial institutions and did not adequately monitor the macro-systemic risks on domestic and global financial market. Macroprudential regulation is in focus of academic research with the aim to find the most suitable tools and instruments of macroprudential regulation and supervision, as well as early warning signals of financial distress. The purpose of this article is to analyse existing and possible macroprudential framework, instruments and early warning signals and to further contribute to this debate. As a final result, paper proposes necessary improvements and possible macroprudential policy framework.
macroprudential regulation; financial crisis; financial stability; policy and tools; Croatia
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Podaci o prilogu
494-504.
2012.
objavljeno
Podaci o matičnoj publikaciji
Proceedings of the 6th International Conference An Enterprise Odyssey: Corporate governance and public policy — path to sustainable future
Galetić, Lovorka ; Šimurina, Jurica
Zagreb:
987-953-6025-56-5
Podaci o skupu
6th International Conference An Enterprise Odyssey: Corporate governance and public policy — path to sustainable future
predavanje
13.06.2012-16.06.2012
Šibenik, Hrvatska