Financial systems: changes, crises and regulation.

Summary The back cover states: "At a time when banks and finance are being called into question, it is useful to recall what the role of banks and financial markets is (or should be). Is finance still at the service of the real economy? Some financial innovations have proven to be dangerous for financial stability. What are the sources of financial instability? Are bubbles inevitable? Why did banks take excessive risks? How have central banks acted during the crisis since 2007-2008? Have the lessons of the financial crisis, which has become a global economic crisis, been learned? Will the current reforms succeed in improving bank supervision and market organization, as well as in containing shadow banking? On all these topics, and many others, this book offers the keys to move from theory to the most current applications. It is primarily intended for Master's students in economics or management and for those in the grandes écoles, but it is also of interest to a much wider public wishing to better interpret monetary, banking and financial developments.