Abstract

GREENSPAN, Alan. THE CRISIS. Rev.econ.inst. [online]. 2010, vol.12, n.22, pp.15-60. ISSN 0124-5996.

This article reviews the causes of the crisis, explores the nature of financial intermediation, presents a set of reforms to overcome the deficiencies of the regulatory structure and examines the role of monetary policy in the current crisis. It concludes that it is essential to increase regulatory capital requirements and liquidity of banks and increase the guarantees of financial products that are traded globally.

Keywords : economic crisis; financial intermediation.

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