Per Jacobsson Lecture: What Financial System for the Twenty-First Century?

October 14, 2011

Preview Citation

Format: Chicago

Per Jacobsson Lecture: What Financial System for the Twenty-First Century?, (USA: International Monetary Fund, 2011) accessed November 27, 2024

Summary

This paper describes a financial system that should be adopted for the 21st century. The paper highlights that the financial crisis of 2008 has raised fundamental questions about how the financial industry is structured, managed, and regulated. The paper discusses that a well-functioning financial system plays an essential role in generating high levels of saving, promoting the efficient allocation of investment, and smoothing economic fluctuations stemming from nonfinancial causes. By facilitating informed risk taking, it is a key element in achieving optimal levels of productivity growth and rising living standards.

Subject: Banking, Commercial banks, Credit, Economic sectors, Financial crises, Financial institutions, Financial sector, Financial services, Money

Keywords: Chairman, Chairman of the BIS, Chairman of the Per Jacobsson Board of Trustees, Chairman of the Per Jacobsson Foundation, Commercial banks, Credit, Europe, Exceptional career, Financial sector, General manager of the Bank for International Settlements, Global, PJ, SIFI surcharge, State failure

Publication Details

Pages:

68
Volume:

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DOI:

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Issue:

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Series:

per Jacobson lecture
Stock No:

PJIEA2011001
ISBN:

9781463904340
ISSN:

0252-3108

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