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Government Officials as a Source of Systemic Risk in International Financial Markets

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Regulating International Financial Markets: Issues and Policies

Abstract

Systemic risk refers to unspecified dangers in the operation of an unspecified system. To apply the term to international financial markets, we must specify just what we mean by risk and system. In economic affairs, risk refers to chances for loss. System is a trickier word that may be interpreted in at least two ways.

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References

  • Flannery, Mark. 1988. Payments Risk and Public Policy. In William S. Haraf and Rose Marie Kushmeider, eds., Restructuring Banking and Financial Services in America. Washington, DC: American Enterprise Institute for Public Policy Research, pp. 261–287.

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  • Gilbert, R. Alton. 1989. Payments System Risk: What Is It and What Will Happen If We Try to Reduce It? Review (Federal Reserve Bank of St. Louis) 71 (Jan./Feb.), 3–17.

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  • Kane, Edward J. 1985. The Gathering Crisis in Federal Deposit Insurance. Cambridge, MA: MIT Press.

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  • Saunders, Anthony, 1988. The Eurocurrency Interbank Market: Potential For International Crises? Business Review (Federal Reserve Bank of Philadelphia) (Jan./Feb.), 17–27.

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  • U.S. General Accounting Office, General Government Division. 1990. Securities Trading: SEC Action Needed to Address National Market System Issues. Report to Congressional Committees B-21979. Washington, DC, March 12.

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Authors
  1. Edward J. Kane
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Editor information

Editors and Affiliations

  1. Center for the Study of Futures Markets, Graduate School of Business, Columbia University, New York, USA

    Franklin R. Edwards (Arthur F. Burns Professor of Free and Competitive Enterprise, and Director) (Arthur F. Burns Professor of Free and Competitive Enterprise, and Director)

  2. Center on Japanese Economy and Business, Graduate School of Business, Columbia University, New York, USA

    Hugh T. Patrick (R.D. Calkins Professor of International Business, and Director) (R.D. Calkins Professor of International Business, and Director)

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© 1992 Springer Science+Business Media New York

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Kane, E.J. (1992). Government Officials as a Source of Systemic Risk in International Financial Markets. In: Edwards, F.R., Patrick, H.T. (eds) Regulating International Financial Markets: Issues and Policies. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-3880-2_20

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  • DOI: https://doi.org/10.1007/978-94-011-3880-2_20

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-94-010-5727-1

  • Online ISBN: 978-94-011-3880-2

  • eBook Packages: Springer Book Archive

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