Contemporary trends in the financial sector - deregulation and the need for regulation of the financial system

Karadjova, Vera and Dicevska, Snezana (2015) Contemporary trends in the financial sector - deregulation and the need for regulation of the financial system. In: The fourth International Conference “Employment, Education and Enterpreneurship”, 14-16 October 2015, Belgrade, Serbia.

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Global changes occurring in financial systems and in the financial flows in general, introduced major changes in the forms and functions that financial institutions perform. The main change is the tendency towards rapid convergence of all institutions that provide financial services and acceptance of each other's innovations. This tendency is often accompanied by a change of the legal framework in the field of finance and opening the possibility of various financial institutions to offer financial services that previously were not inherent in them. Such changes which create conditions for increasing the number of competitors in the financial system are associated with periods of strong regulation, periods of deregulation and re-regulation of financial institutions in the system. The paper elaborates also some other innovations of the financial markets associated with the regulation (the ability to avoid regulation) or which indicates the need for further regulation (financial innovations, financial engineering, derivative securities, securitization etc.). There is a discussion about disintermediation as one of the modern tendencies in conditions of crisis disorders. In any case, disintermediation as the tendency is to some extent one of the forms of regulation of the financial markets. In any case, the paper found the perfect complexity of the financial system that further increases with the rise of modern financial innovations and the deregulation and regulation of the financial system which derives from such phenomena.

Key words: Regulation - Deregulation, Financial System, Competition, Disintermediation, Securitization

JEL Classification: G20 UDC: 338.246.2:336.74

Item Type: Conference or Workshop Item (Paper)
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Tourism and Hospitality
Depositing User: Prof. d-r Vera Karadjova
Date Deposited: 27 May 2020 22:17
Last Modified: 27 May 2020 22:17

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