علاقة الشمولية المالية بالأزمات المالية : التحرير المالي الابتكارات المالية في قلب أزمة الرهن العقاري 2007

Abstract EN

The phenomenon of financial globalization has aroused the opinions and interest of many economic thinkers, as it is considered a double-edged weapon.

It has provided many advantages to the global economy on the one hand, and on the other hand has caused many imbalances at the level of international financial systems.

This research aims to highlight the role of financial liberalization policy and the process of financial innovations - the most important indexes of financial globalization - in causing the 2007-08 Subprime mortgage crisis: the deregulation, an increase in interest rates, the liberalization of financial markets, the process of securitization and the integration of global financial markets, were the main factors that led to the outbreak and spread of the crisis.

In the end, we have concluded through this paper that financial globalization is an imperative necessity its disadvantages, it cannot be dispensed with only to ensure systemic stability, but must deal with this phenomenon while maintaining financial stability, by with a range of precautionary measures or prudential regulation.

such as adhering to the capital adequacy standards stipulated in the three BaselConventions, to ensure the stability of banking systems and the bankruptcy of banks.

In addition to a financial system away from interest and speculation.