Macroprudential Policy: Instruments And Implementation Manners An Overview On The European Union Experience

Résumé: During the recent Global Financial Crisis and the ensuing period to date, a remarkable attention was granted to macroprudential policy as a complementary approach of microprudential policy, the use of the latter has shown its ineffectiveness in protecting the financial system against a Global Financial Crisis similar to the one of 2008 and its extremely negative effects on the Global Financial System and real economy. In this context, through the European Union experience this paper focuses on macroprudential policy in terms of its concept, its importance, justifications and the different measures or tools offered by it for the purpose of its application in order to protect the Global Financial System as an entity instead of partial components targeted by microprudential policy. .

Publié dans la revue: مجلة العلوم الاقتصادية والتسيير والعلوم التجارية