Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections
Every financial crisis triggers some regulatory and supervisory changes related to the ensuing threats. These regulations usually address specific types of risks and reduce them but do not protect the entire system from another crisis. The aim of this study was to develop a conceptual framework of f...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-02-01
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| Series: | Risks |
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| Online Access: | https://www.mdpi.com/2227-9091/10/2/33 |
| _version_ | 1797476755315884032 |
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| author | Piotr Łasak Sławomir Wyciślak |
| author_facet | Piotr Łasak Sławomir Wyciślak |
| author_sort | Piotr Łasak |
| collection | DOAJ |
| description | Every financial crisis triggers some regulatory and supervisory changes related to the ensuing threats. These regulations usually address specific types of risks and reduce them but do not protect the entire system from another crisis. The aim of this study was to develop a conceptual framework of financial system resilience based on the theoretical approach of complex system theory and its explanation of these systems’ self-adaptation. Our analysis embraces the time since the 2008+ financial crisis in the United States. We argue that the digitalization of financial markets may contribute to the greater safety of the banking sector. We adopted blockchain technology for the pattern of self-modification mechanisms of the financial system. The main findings highlight that the blockchain technology incorporated into the system approach and applied to financial regulation and supervision can significantly improve the safety of the financial markets. |
| first_indexed | 2024-03-09T21:08:12Z |
| format | Article |
| id | doaj.art-703680b0de944fab96281ebe23c9bcac |
| institution | Directory Open Access Journal |
| issn | 2227-9091 |
| language | English |
| last_indexed | 2024-03-09T21:08:12Z |
| publishDate | 2022-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Risks |
| spelling | doaj.art-703680b0de944fab96281ebe23c9bcac2023-11-23T21:56:40ZengMDPI AGRisks2227-90912022-02-011023310.3390/risks10020033Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory ReflectionsPiotr Łasak0Sławomir Wyciślak1Faculty of Management and Social Communication, Jagiellonian University, Łojasiewicza Street 4, 30-348 Krakow, PolandFaculty of Management and Social Communication, Jagiellonian University, Łojasiewicza Street 4, 30-348 Krakow, PolandEvery financial crisis triggers some regulatory and supervisory changes related to the ensuing threats. These regulations usually address specific types of risks and reduce them but do not protect the entire system from another crisis. The aim of this study was to develop a conceptual framework of financial system resilience based on the theoretical approach of complex system theory and its explanation of these systems’ self-adaptation. Our analysis embraces the time since the 2008+ financial crisis in the United States. We argue that the digitalization of financial markets may contribute to the greater safety of the banking sector. We adopted blockchain technology for the pattern of self-modification mechanisms of the financial system. The main findings highlight that the blockchain technology incorporated into the system approach and applied to financial regulation and supervision can significantly improve the safety of the financial markets.https://www.mdpi.com/2227-9091/10/2/33bank crisisblockchain technologycomplex system theoryfinancial markets regulationfinancial markets supervision |
| spellingShingle | Piotr Łasak Sławomir Wyciślak Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections Risks bank crisis blockchain technology complex system theory financial markets regulation financial markets supervision |
| title | Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections |
| title_full | Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections |
| title_fullStr | Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections |
| title_full_unstemmed | Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections |
| title_short | Dynamics in Complex Systems Amidst Crisis 2008+: Financial Regulatory and Supervisory Reflections |
| title_sort | dynamics in complex systems amidst crisis 2008 financial regulatory and supervisory reflections |
| topic | bank crisis blockchain technology complex system theory financial markets regulation financial markets supervision |
| url | https://www.mdpi.com/2227-9091/10/2/33 |
| work_keys_str_mv | AT piotrłasak dynamicsincomplexsystemsamidstcrisis2008financialregulatoryandsupervisoryreflections AT sławomirwycislak dynamicsincomplexsystemsamidstcrisis2008financialregulatoryandsupervisoryreflections |