BUSINESS INFORM №1-2017

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34

Section: Finance, Money Circulation and Credit
UDC 336.71
Versal N. I.
Financial System as Producer of Financial Shocks (p. 218 - 223)
The article is aimed at determining the prerequisites for transformation of financial system into producer of financial shocks. In view of the fact that financial shocks can occur only upon condition of unpredictability of the future, the basis for this study was the post-Keynesian theory of monetary economy. As result of the study was found that the basic preconditions for the transformation of financial system into the destabilizing factor of economy are: the significant increase of proportion of the «too big to fail» financial corporations in the financial system; the whipping up a spiral of speculative demand and the emergence of «price bubbles» in the markets for financial assets because of the emergence of new types of financial corporations, the further complexity of structure of financial tools, in particular as a result of securitization, and expectation of super-profits; the inadequate level of the State regulation of financial corporations; the globalization of financial markets and the possibility of rapid cross-border transmission of financial shocks.
Keywords: financial system, financial shocks, financial crises, financial corporations
Fig.: 1. Tabl.: 1. Bibl.: 20.

Versal Nataliia I. – Candidate of Sciences (Economics), Associate Professor, Candidate on Doctor Degree, Department of Insurance, Banking and Risk Management, Taras Shevchenko National University of Kyiv (60 Volodymyrska Str., Kyiv, 01033, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Versal, Nataliia I. (2017) “Financial System as Producer of Financial Shocks.” Business Inform 1:218–223.

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