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Balancing Financial Innovation and Risk Management in Global Economy

Addressing the escalation of financial risks in the interconnected global economy due to surpluses and deficits. Discusses the role of securitization, regulatory authorities, market internationalization, capital adequacy, and behavioral factors in risk management.

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Balancing Financial Innovation and Risk Management in Global Economy

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  1. Rahoitusinnovaatiot ja riskienhallinta: miten rajoittaa eskaloituvia riskejä?Vesa Puttonen5.3.2009

  2. In 2008, the IMF forecasts a combined US and EU external deficit of around $900b — up from $450b in 2002 The simultaneous increase in the Gulf’s surplus and China’s surplus explains why the combined deficit of the US and Europe became so large — it was the only way the global economy could balance.

  3. Mitä pitäisi tehdä? • Arvopaperistuminen sinänsä ok ilmiö, mutta johtanut • systeemiriskin realisoitumiseen • Viranomainen pois pelkääjän paikalta • Markkinat ovat kansainvälistyneet – myös valvonnan pitäisi • Vakavaraisuus & likviditeetti – tehottomuus onkin osin perusteltua • Yksittäisten instrumenttien kieltäminen ei ole ratkaisu • Ahneus – taloudellinen lukutaidottomuus – laiskuus – hölmöys • Riskienhallinnan matemaattisuus & oletukset: • väärin ennustettu? • väärin laskettu? • Väärin kommunikoitu? • Väärin arvioitu, mikä on relevanttia ja mikä ei?

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