Implicazioni di Basilea II per la stabilità finanziaria. Le nuvole si addensano sui paesi in via di sviluppo.

Abstract

Placing Basel II in the perspective of the more general trend in financial regulation, the paper analyses its efficacy an efficiency as a device ti foster financial resiliency. In assessing the criticism levelled against the New Accord, special attention is devoted to the case of the emerging countries. I suggest that Basel II is neither a sufficient, nor a necessary condition to attain systematic financial stability, especially in weak institutional and macro-policy environments. Taking also into account just how complex and onerous the scheme is, I conclude that the emerging countries should look for new international institutional arrangements based on the principle of a stability level playing field. JEL Codes: E44, F53, G21, G28, O16

Keywords

• Basilea II
• paesi in via di sviluppo