| | PROBLEMS OF MODERN ECONOMICS, N 1 (65), 2018 | | FINANCE AND CREDIT SYSTEM: BUDGET, CURRENCY AND CREDIT REGULATION OF ECONOMY, INVESTMENT RESOURCES | | Sokolov B. I. Chair of Credit Theory and Financial Management, Department of Economics, St. Petersburg State University, PhD (Economics), Professor Sokolova S. V. Professor, Chair of Management and Planning of Socio-Economic Processes, Department of Economics, St. Petersburg State University, PhD (Economics), Professor Valerov A. V. Assistant Professor, Chair of Credit Theory and Financial Management, Department of Economics, St. Petersburg State University, PhD (History)
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| The authors discuss the institutional theory of banking crises. The concept of “games of banking agreements,” introduced by Ch. Calomiris and S. Haber in their book Fragile by Design: The Political Origins of Banking Crises and Scarce Credit is discussed as an tool to explain the dynamics of banking system development. The article stresses that the practical significance of the “games of banking agreements” concept will be higher if one distinguishes among various levels of the “game.” The concept should be further developed with regards to the globalization aspect | Key words: games of banking agreements, banking crisis, institutionalism, rating agencies, globalization | Pages: 87 - 92 |
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