Implicazioni di Basliea II per la stabilità finanziaria. Le nuvole si addensano sui paesi in via di sviluppo (Implications of Basel II for financial stability. The clouds are gathering on the countries in the developing)
DOI:
https://doi.org/10.13133/2037-3651/9540Parole chiave:
regolamentazione finanziaria, Basilea II, parità, sviluppoAbstract
Nella prospettiva della più generale tendenza che caratterizza la regolamentazione finanziaria, il lavoro analizza l’efficacia e l’efficienza di Basilea II come strumento per promuovere la resilienza finanziaria. Nel valutare le critiche al Nuovo Accordo particolare attenzione è posta al caso dei paesi in via di sviluppo. Basilea II appare non essere condizione necessaria né sufficiente per raggiungere la stabilità finanziaria sistemica, specie in condizioni di debolezza delle istituzioni e delle politiche macroeconomiche. Anche considerando la complessità e l’onerosità dello schema, si conclude che i paesi in via di sviluppo dovrebbero mirare alla creazione di nuovi accordi internazionali basati su condizioni di parità (level playing field) definiti in termini di stabilità.
In the context of a more general trend that characterizes the financial regulation, the paper analyzes the effectiveness and efficiency of Basel II as a tool to promote financial resilience. In assessing the criticisms of the New Accord, special attention is given to the case of countries in the developing world. Basel II does not appear to be necessary nor a sufficient condition to reach the systemic financial stability, especially under conditions of weak institutions and macroeconomic policies. Even considering the complexity and the burden of the scheme, it is concluded that the developing countries should aim at the creation of new international agreements based on an equal footing (level playing field) defined in terms of stability.
JEL Codes: E44, F53, G21, G28, O16
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