• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Journal of Financial Regulation and Compliance >Actuarial insights into the global banking catastrophe
【24h】

Actuarial insights into the global banking catastrophe

机译：对全球银行业灾难的精算见解

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Purpose – The purpose of this paper is to investigate the underlying causes of the series of banking disasters that unfolded from July 2007 onwards and to suggest what action should be taken to avoid a repetition. Design/methodology/approach – The practices and culture that have evolved in banking over recent decades are compared and contrasted with general principles of actuarial science and with Adam Smith's blueprint for a well-functioning market economy as set out in his Wealth of Nations. Recent instances of financial turmoil such as the Northern Rock debacle and the global “credit crunch” are then viewed from a longer term perspective. Findings – The serious weaknesses identified by comparisons with actuarial science and the wisdom of Adam Smith, amplified by perverse methodologies of finance theory and “fair value” accounting and unchecked by the lax regulatory framework, take not only the global banking industry, but also the entire global economy to the point where the self-stabilising properties of Western capitalism are destroyed. To avoid a repetition, banking practices and culture must be completely rebuilt along actuarial and “Adam Smith” lines, the destabilising methodologies of finance theory and “fair value” accounting must be abandoned, and the new and more prudent approach must be rigorously enforced by a strong regulatory regime. Originality/value – By adopting a longer term actuarial perspective, the paper identifies deeper problems and suggests more fundamental solutions than have generally been the case in the continuing debate as to the best way forward in rebuilding a robust financial system.
机译：目的–本文的目的是调查从2007年7月开始发生的一系列银行灾难的根本原因，并提出应采取什么措施避免重复发生。设计/方法/方法–将近几十年来在银行业发展的实践和文化与精算科学的一般原理以及亚当·斯密（Adam Smith）在《国富论》中提出的运作良好的市场经济蓝图进行比较和对比。从较长期的角度来看，最近发生了诸如北岩崩盘和全球“信贷紧缩”这样的金融动荡事件。调查结果–与精算科学和亚当·斯密的智慧相比较所发现的严重缺陷，被金融理论和“公允价值”会计的不正当方法所放大，而未被宽松的监管框架所遏制，不仅占据了全球银行业，而且在整个全球经济中，西方资本主义的自我稳定特性被摧毁。为避免重复，必须按照精算和“亚当·史密斯”的原则彻底重建银行业务惯例和文化，必须放弃破坏金融理论和“公允价值”会计的不稳定方法，并且必须严格执行新的，更审慎的方法。强有力的监管制度。独创性/价值–通过长期的精算观点，本文确定了更深层次的问题，并提出了比继续辩论有关重建稳健金融体系的最佳方法的一般解决方案更为根本的解决方案。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号