Macroprudential policy systemic risks and identified factors of Georgia (მაკროპრუდენციული პოლიტიკის სისტემური რისკების წარმომქმნელი ფაქტორების იდენტიფიცირება საქართველოსათვის)
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Date
2022
Journal Title
Journal ISSN
Volume Title
Publisher
Ivane Javakhishvili Tbilisi State University Press
Abstract
Achieving financial stability is a major challenge for any country, especially in the wake of the 2008 global
financial crisis. A sound financial system creates the conditions for the economic development and economic goals
of the country, therefore it is very important to identify the systemic risks causing the financial crisis and eliminate
them. The 2008 global financial crisis once again raised the issue of more active use of macroprudential policies, as
it became clear that microprudential policies and its regulations were not sufficient for financial stability.
Macroprudential policy plays a crucial role in identifying systemic risks and neutralizing the financial cyclicality,
which ultimately implies the implementation of preventive measures and the implementation of effective banking supervisory policies.
Description
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ბანკებისათვის, 23
2. Borio, C. (2015). Macropruencial Policies, 10-12
3. Dijkman, M. (2015). Monitoring Financial Stability in Developing and Emerging Economies, 5-7, 30-33
4. Galati, G., Moesner R. (2011). Macroprudential Policy. BIS working paper No 337, 23
5. Murphy, E. (2012).What is systemic risk?,2-5
7. Shmieder C. (2011). The balance-sheet based approach to stress-testing,8-9
Keywords
Macroprudential policy, systemic risks, financial stability
Citation
International Scientific Conference Dedicated to the Establishment of the University and the 100th Anniversary of the Faculty of Economics and Business “Covid 19 Pandemic and Economics”, Tbilisi, 2022, pp. 263-267