Online ISSN 2286-0266
Print ISSN 1223-0685
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Daniel DĂIANU
Societatea Română de Economie (SOREC)
The need for a radical overhaul of the regulation and supervision of financial markets has been acknowledged in all advanced economies. And yet, there is still a line of reasoning which argues that the main source of the current financial crisis is the cheap money of the past, which would have caused large global imbalances as well. But another, that I share, is that something wrong has been occurring with overall financial intermediation in recent decades. This is like saying that structure has been no less important in derailing economies than misconceived policies and unavoidable cyclical dynamics.

ŒCONOMICA no. 1/2011
Keywords: financial crisis, regulation, global imbalances, financial intermediation
JEL: E42, E43, E44, E51, E52, E58
Regaining Financial Stability: Taming Financial Markets Is a Must – a Focus on NMSs