[ Le développement du secteur financier : Stabilité ou instabilité ? ]
Volume 27, Issue 2, September 2019, Pages 547–558
KHEMAKHEM M’hamed Ali1
1 Université de Sfax : FSEGS, URED, Tunisia
Original language: French
Copyright © 2019 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Recent decades have seen a wave of liberalization in the markets for goods and services and financial markets and the development of financial systems. This has resulted in a series of benefits - illustrated by the development of the financial sectors of developing countries - and potential costs - rising uncertainty, increasing financial instability and a greater probability of crises. The characteristics and extent of the net benefits - in terms of financial stability - of waves of internal and external financial liberalization are the subject of a controversial debate, which remains today the main occupation of public authorities in developed countries and developing countries (Including Tunisia and Morocco).
Author Keywords: Financial system, Financial instability, Financial stability, Macro-prudential regulation, Micro-prudential regulation.
Volume 27, Issue 2, September 2019, Pages 547–558
KHEMAKHEM M’hamed Ali1
1 Université de Sfax : FSEGS, URED, Tunisia
Original language: French
Copyright © 2019 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
Recent decades have seen a wave of liberalization in the markets for goods and services and financial markets and the development of financial systems. This has resulted in a series of benefits - illustrated by the development of the financial sectors of developing countries - and potential costs - rising uncertainty, increasing financial instability and a greater probability of crises. The characteristics and extent of the net benefits - in terms of financial stability - of waves of internal and external financial liberalization are the subject of a controversial debate, which remains today the main occupation of public authorities in developed countries and developing countries (Including Tunisia and Morocco).
Author Keywords: Financial system, Financial instability, Financial stability, Macro-prudential regulation, Micro-prudential regulation.
Abstract: (french)
Les dernières décennies ont été marquées par une vague de libéralisation des marchés des biens et services et des marchés financiers et par le développement des systèmes financiers. Ceci s’est traduit par une série d’avantages - illustrés par le développement des secteurs financiers des pays en voie de développement - et par des coûts potentiels - montée de l’incertitude, accentuation de l’instabilité financière, voir une plus grande probabilité et ampleur des crises. Les caractéristiques ainsi que l’étendue des bénéfices nets - en terme de stabilité financière-des vagues de libéralisation financière interne et externe sont l’objet d’un débat controversé qui demeure aujourd’hui la principale occupation des autorités publiques des pays développés et en voie de développement (entre autres la Tunisie et le Maroc).
Author Keywords: Système financier, Instabilité financière, Stabilité financière, régulation macro-prudentielle, régulation micro-prudentielle.
How to Cite this Article
KHEMAKHEM M’hamed Ali, “Financial sector development : Stability or instability ?,” International Journal of Innovation and Applied Studies, vol. 27, no. 2, pp. 547–558, September 2019.
