Innovations financières et stabilité du system financier : le cas des crédits default swap (CDS)
Author
Source
Issue
Vol. ب, Issue 46 (31 Dec. 2016), pp.193-206, 14 p.
Publisher
Publication Date
2016-12-31
Country of Publication
Algeria
No. of Pages
14
Main Subjects
Financial and Accounting Sciences
Topics
- Finance
- Credit
- Barter
- Scientific innovations
- Securitization
- Global Financial Crisis (2008-2009)
- Fiscal stability
Abstract EN
Credits default swaps (CDS) are financial innovations that have experienced a fuliginous development since their appearance for the first time in 1997; they are used in the transfer of credit risks especially in bonds markets, and more recently in the process of synthetic securitization.
Located equally between insurance and financial product, the CDS are negotiated hedging contracts using as underlying a portfolio of loans or bonds, and negotiated by Monoline in an unorganized market.The CDS are considered by experts as one of the main aggravating factors of the subprime crisis (2007) and the global financial crisis (2008) that has followed.
These same innovative financial products have been widely used by speculators during the crisis of Greek Sovereign Debt (2010), which contributed to a wide spreading crisis to other EU countries and gave it in the process its systemic character.
The pernicious effect of unnecessary financial innovations on the stability of the financial system has been set forth by many researchers, including the precursor Hyman Minsky (1992).
American Psychological Association (APA)
Bin Namun, Hamadu. 2016. Innovations financières et stabilité du system financier : le cas des crédits default swap (CDS). Revue Sciences Humaines،Vol. ب, no. 46, pp.193-206.
https://search.emarefa.net/detail/BIM-767648
Modern Language Association (MLA)
Bin Namun, Hamadu. Innovations financières et stabilité du system financier : le cas des crédits default swap (CDS). Revue Sciences Humaines Vol. B, no. 46 (Dec. 2016), pp.193-206.
https://search.emarefa.net/detail/BIM-767648
American Medical Association (AMA)
Bin Namun, Hamadu. Innovations financières et stabilité du system financier : le cas des crédits default swap (CDS). Revue Sciences Humaines. 2016. Vol. ب, no. 46, pp.193-206.
https://search.emarefa.net/detail/BIM-767648
Data Type
Journal Articles
Language
French
Notes
Includes bibliographical references : p. 205-206
Record ID
BIM-767648