Defining Financial Stability

By Garry J. Schinasi. Social Science Research Network, 2004

419 citations recorded by the source corpus.

The main objective of this paper is to propose a definition of financial stability that has some practical and operational relevance. Financial stability is defined in terms of its ability to facilitate and enhance economic processes, manage risks, and absorb shocks. Moreover, financial stability is considered a continuum: changeable over time and consistent with multiple combinations of the constituent elements of finance. The paper also discusses several practical implications of the definition that should be considered when using it for policy analysis or developing an analytical framework.

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1. Iwona Bak
2. M. Zioło
3. Beata Zofia Filipiak
4. Jérôme Creel
5. Katarzyna Cheba
6. P. Hubert
7. Fabien Labondance

Citations in the corpus

• How to Design More Sustainable Financial Systems: The Roles of Environmental, Social, and Governance Factors in the Decision-Making Process (2019, background): “Moreover, financial stability is considered a continuum: changeable over time and consistent with multiple combinations of the constituent elements of finance [39].”
• Financial Stability and Economic Performance (2015, background): “But beyond this mandate, its policy formulation is difficult to achieve because of the difficulties to define, forecast and measure financial stability (see Schinasi, 2004).”