Boyer, Marcel (2017) Growing out of Crises and Recessions: From Regulating Large Financial Institutions To Redefining Government Responsibilities. In: Advanced Methods of Investment Evaluation Université de Montréal / CIRANO. ISBN 978-2-89609-007-5

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Abstract

I characterize and discuss in this paper the challenges and pitfalls we must face to grow out for good of the recent and future financial crises and economic recessions. I propose a brief history of the last crisis and insist on the loss of confidence within the banking and financial sector, which propagated later to the real sector. I discuss ways to rebuild confidence and move out of a stable bad economic equilibrium, due in part to inefficiently designed bonus systems. Considering data on gross job creation and loss in the private sector, I challenge the sorcerer’s apprentices plan for reforming capitalism and I recall the role of creative destruction. I show that government deficits and economic growth are not good friends and I offer a reference to the Canadian experience of the two decades 1985-2005. Finally, I discuss fiscal and regulatory reforms and propose redesigned roles for governmental and competitive sectors in generating a more prosperous economy.

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• Growing out of Crises and Recessions: From Regulating Large Financial Institutions To Redefining Government Responsibilities. (deposited 09 Jul 2014 17:35)
  • Growing out of Crises and Recessions: From Regulating Large Financial Institutions To Redefining Government Responsibilities. (deposited 16 Apr 2018 10:12) [Currently Displayed]