Small Enough To Fail: A Systems Approach To Financial Systems Reform

Journal of Risk Finance, Volume 12, Number 5, Emerald Group Publishing (October 2011), pages 435-444

10 Pages Posted: 12 Jan 2021

See all articles by Michael Mainelli

Michael Mainelli

Gresham College; Z/Yen Group

Bernard Manson

Z/Yen Group Limited

Date Written: September 1, 2011

Abstract

The financial crises since 2007 have inspired many suggestions for reform. In order to evaluate proposed changes to financial markets and their regulation, we need to agree on the goals and properties of the financial system which we are trying to create as much as come up with ideas for reform. This paper looks at how design principles might inform financial systems design. It presents a sample set of principles based on a structure that distinguishes Insured Banks from Other Financial Institutions.

Keywords: systems theory, financial regulation, banking reform, utility banking, narrow banking, insured banking, diversity

JEL Classification: G00

Suggested Citation

Mainelli, Michael and Mainelli, Michael and Manson, Bernard, Small Enough To Fail: A Systems Approach To Financial Systems Reform (September 1, 2011). Journal of Risk Finance, Volume 12, Number 5, Emerald Group Publishing (October 2011), pages 435-444, Available at SSRN: https://ssrn.com/abstract=3719257

Michael Mainelli (Contact Author)

Gresham College ( email )

Barnard's Inn Hall
Holborn
London, EC1N 2HH
United Kingdom

Z/Yen Group ( email )

41 Lothbury
London
United Kingdom

Bernard Manson

Z/Yen Group Limited ( email )

41 Lothbury
London
United Kingdom

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