Publication:
Financial paradigms

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dc.contributor.authorTorre, Augusto de la
dc.contributor.authorIze, Alain
dc.date.accessioned2012-08-13T10:47:07Z
dc.date.available2012-08-13T10:47:07Z
dc.date.issued2009-11
dc.description.abstractWhat market and regulatory issues led to the subprime crisis? How should prudential regulation be fixed? The answers depend on the interpretative lenses or 'paradigms' through which one sees finance. The agency paradigm, which has dominated recent regulatory policy, seems to be influencing much of the emerging reform agenda. But collective welfare failures particularly externalities and collective cognition failures particularly mood swings were at least as important in driving the crisis. All three paradigms should therefore be integrated into a more balanced policy agenda. But doing so will be difficult because they often have inconsistent policy implications.en
dc.identifierhttp://documents.worldbank.org/curated/en/2009/11/11800010/financial-paradigms
dc.identifier.doi10.1596/10226
dc.identifier.urihttps://hdl.handle.net/10986/10226
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesCrisis Response Note; No. 10
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectADVERSE SELECTION
dc.subjectAGENCY PROBLEM
dc.subjectAGENCY PROBLEMS
dc.subjectARBITRAGE
dc.subjectASSET PRICES
dc.subjectASYMMETRIC INFORMATION
dc.subjectBALANCE SHEET
dc.subjectBANK POLICY
dc.subjectBANK RUNS
dc.subjectBANKING CRISIS
dc.subjectBANKING SYSTEM
dc.subjectBARGAINING
dc.subjectBORROWER
dc.subjectCAPITAL MARKET
dc.subjectCENTRAL BANK
dc.subjectCOLLECTIVE ACTION
dc.subjectCOMMERCIAL BANKING
dc.subjectCOMMERCIAL BANKS
dc.subjectCONFLICTS OF INTEREST
dc.subjectCONSUMER PROTECTION
dc.subjectCONTRACTUAL RELATIONSHIPS
dc.subjectCOORDINATION FAILURES
dc.subjectCREDIT DEFAULT
dc.subjectCREDIT DEFAULT SWAPS
dc.subjectDEBT
dc.subjectDEBT CONTRACTS
dc.subjectDEEDS
dc.subjectDEFAULT RISK
dc.subjectDEPOSIT
dc.subjectDEPOSIT INSURANCE
dc.subjectDEPOSIT RATES
dc.subjectDEPOSITOR
dc.subjectDEPOSITORS
dc.subjectECONOMIC CONDITIONS
dc.subjectEMERGING-MARKET
dc.subjectENTRY REQUIREMENTS
dc.subjectEXPOSURE
dc.subjectEXPOSURE TO RISK
dc.subjectEXTERNALITIES
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFEDERAL RESERVE BANK OF NEW YORK
dc.subjectFEDERAL RESERVE SYSTEM
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL INNOVATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL REFORMS
dc.subjectFINANCIAL REGULATION
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL TRANSACTIONS
dc.subjectFINANCIAL VOLATILITY
dc.subjectGLOBAL BANKING
dc.subjectGOVERNANCE ISSUES
dc.subjectHOLDING
dc.subjectHOUSING
dc.subjectHOUSING PRICES
dc.subjectIMPERFECT INFORMATION
dc.subjectINFORMED INVESTORS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINVESTOR PROTECTION
dc.subjectINVESTORS DEPOSITS
dc.subjectIRRATIONAL EXUBERANCE
dc.subjectLENDER
dc.subjectLENDER OF LAST RESORT
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectMARK-TO-MARKET
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET FAILURE
dc.subjectMARKET FAILURES
dc.subjectMARKET INEFFICIENCIES
dc.subjectMARKET LIQUIDITY
dc.subjectMARKET PARTICIPANTS
dc.subjectMARKET PLAYERS
dc.subjectMARKET PRACTICES
dc.subjectMATURITY
dc.subjectMATURITY MISMATCH
dc.subjectMATURITY MISMATCHES
dc.subjectMONETARY FUND
dc.subjectMORAL HAZARD
dc.subjectMORTGAGE
dc.subjectMORTGAGE CREDIT
dc.subjectOPPORTUNISTIC BEHAVIOR
dc.subjectPOLICY RESPONSES
dc.subjectPORTFOLIOS
dc.subjectPRICE VOLATILITY
dc.subjectPRINCIPAL-AGENT PROBLEMS
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectPRUDENTIAL REGULATION
dc.subjectPRUDENTIAL REGULATIONS
dc.subjectPUBLIC POLICY
dc.subjectREGULATOR
dc.subjectREGULATORS
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY REGIME
dc.subjectRELATIONSHIP LENDING
dc.subjectRETURNS
dc.subjectRISK ASSESSMENTS
dc.subjectRISK AVERSION
dc.subjectRISK MANAGEMENT
dc.subjectRISK TAKING
dc.subjectSAFETY
dc.subjectSAFETY NET
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSECURITIES MARKET
dc.subjectSECURITIES MARKET REGULATIONS
dc.subjectSECURITIZATION
dc.subjectSHAREHOLDERS
dc.subjectSHORT-TERM BORROWING
dc.subjectSOCIAL COSTS
dc.subjectSTOCK PRICES
dc.subjectSUPERVISORY AGENCY
dc.subjectSUPPLIERS
dc.subjectSYSTEMIC RISK
dc.subjectSYSTEMIC RISKS
dc.subjectTAX
dc.subjectTRADITIONAL BANKING
dc.subjectTRANSPARENCY
dc.subjectWHOLESALE FUNDING
dc.subjectWHOLESALE INVESTORS
dc.subjectWORLD ECONOMY
dc.titleFinancial paradigmsen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.date.doiregistration2025-04-29T09:29:33.320901Z
okr.doctypePublications & Research::Brief
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2009/11/11800010/financial-paradigms
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid961751468332072259
okr.identifier.externaldocumentum000333038_20100217025712
okr.identifier.internaldocumentum11800010
okr.identifier.report53043
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/02/17/000333038_20100217025712/Rendered/PDF/530430BRI0Cris10Box345594B01PUBLIC1.pdfen
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicSocial Protections and Labor::Labor Policies
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicBanks and Banking Reform
okr.topicPrivate Sector Development::Emerging Markets
okr.unitOff Dir
okr.unitFinan Sys Prac - WB (FFSDR)
okr.volume1 of 1
relation.isAuthorOfPublicationddbea2d3-9cc2-52f4-ab28-94372063d761
relation.isAuthorOfPublication.latestForDiscoveryddbea2d3-9cc2-52f4-ab28-94372063d761
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