Publication: Uluslararası türev ürün piyasalarında sistemik risk ve krize teorik ve uygulamalı bir yaklaşım
Abstract
Son yıllarda mal ve para piyasalarındaki türev ürün alım-satımı kaynaklı kayıpların hızla artması ve yaşanan krizlerin sadece gelişmekte olan değil gelişmiş ülkeleri de etkilemesi, ileri teknikleri içeren türev piyasaları gündeme getirmektedir. Globalleşme sürecinin bir ürünü olan piyasalar ve ekonomiler arası etkileşim, yapısal sistemik risklerin çoğalarak dünya çapında krizlere dönüşmesini hızlandırmaktadır. Gelinen bu nokta kuresellesme kaynakli bulasma etkisini de ongoren erken uyarı sistemlerinin yapılandırılarak hem finans hem de reel sektörün yapisal risklerinin kontrol altına alınmasını gerekli oldugu gorulmustur. Çalışmanın amacı dünya sermaye piyasalarındaki yapısal değişimlerden kaynaklanan sistemik risklerin yaşanmış örnekler yardımıyla değerlendirilmesi ve sistem içerisinde bu riskleri yönetme amacıyla atılan adımların yeni yapılandırılan uluslararası entegrasyon çabalarına paralel olarak gözden geçirilmesidir. stemik Risk, Türev Ürün, (Kuresellesme) Globalleşme, Bulasma Etkisi, Finansal Kriz.
In recent years, commodity and currency markets has been facing rapid increase in losses rising from derivatives trading and the crises in developed countries has affected not only the developing countries but olsa developed ones! After those devastating financial blasts derivatives markets, including advanced techniques has been claimed as scape goat of financial crises! A product of the globalization process of markets and interaction between economies, structural systemic risks multiplies crises and accelerate worldwide. It has been understood that early warning systems should be configured in order to sense potancial financial crisis triggered by contagion affect and require immediate control of the financial and corporate sector. The aim of the study is to analyse structural changes in world capital markets and the systemic risks stemned from developed derivatives markets by focusing on previous banking financial collapses and the steps taken to manage these risks in the new system which is configured as a parallel review of the international integration efforts. Key Words: Systemic Risk, Derivative Product, Globalization, Contagion Affect! Financial Crisis.
In recent years, commodity and currency markets has been facing rapid increase in losses rising from derivatives trading and the crises in developed countries has affected not only the developing countries but olsa developed ones! After those devastating financial blasts derivatives markets, including advanced techniques has been claimed as scape goat of financial crises! A product of the globalization process of markets and interaction between economies, structural systemic risks multiplies crises and accelerate worldwide. It has been understood that early warning systems should be configured in order to sense potancial financial crisis triggered by contagion affect and require immediate control of the financial and corporate sector. The aim of the study is to analyse structural changes in world capital markets and the systemic risks stemned from developed derivatives markets by focusing on previous banking financial collapses and the steps taken to manage these risks in the new system which is configured as a parallel review of the international integration efforts. Key Words: Systemic Risk, Derivative Product, Globalization, Contagion Affect! Financial Crisis.