Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277310 
Year of Publication: 
2014
Citation: 
[Journal:] European Journal of Economics and Economic Policies: Intervention (EJEEP) [ISSN:] 2052-7772 [Volume:] 11 [Issue:] 3 [Year:] 2014 [Pages:] 315-332
Publisher: 
Edward Elgar Publishing, Cheltenham
Abstract: 
This article will argue that the shadow banking system has been at the heart of the Great Crisis since its first manifestations in the summer of 2007. This system has been purposefully misunderstood, as it is essentially a complex machine of too-big-to-fail banks designed to make large private profits while creating infinitely larger amounts of public debt. Years into the crisis, the shadow banking system still presents the greatest threat to global financial stability. As the fundamental operational conditions of this system gradually become clearer, and the understanding of the risks greater, a proper understanding of shadow banking is essential if the enormous problems of this doomsday machine are to be resolved.
Subjects: 
shadow banking
financial crises
investment banking
international financial markets
JEL: 
G01
G24
G15
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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