Hedgefonds und die Stabilität des internationalen Finanzsystems: Was können staatliche Regulierungen leisten?
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Hedgefonds und die Stabilität des internationalen Finanzsystems: Was können staatliche Regulierungen leisten?
Seckelmann, Margrit | Siddiqui, Sikandar
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 130 (2010), Iss. 4 : pp. 587–597
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Margrit Seckelmann, Deutsches Forschungsinstitut für öffentliche Verwaltung Speyer, Freiherr-vom-Stein-Straße 2, 67324 Speyer.
Sikandar Siddiqui, Ringstraße 21, 69115 Heidelberg.
Abstract
The text at hand deals with the activities of hedge funds and their potentially disadvantageous implications for financial market stability. It shows that an enhanced market transparency, along with the introduction of centralised clearing houses for bilateral trades in derivatives, can make important contributions to the mitigation of such risks. Moreover, it recommends creating the legal preconditions for a compulsory governmental recapitalisation of financial institutes on the brink of insolvency, thus effectively preventing losses due to hedge fund defaults from spreading to uninvolved market participants.
Received: June 22, 2010
Accepted: January 17, 2011