Changes of financial system in the context of financial crisis
Thesis title: | Changes of financial system in the context of financial crisis |
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Author: | Karan, Boris |
Thesis type: | Diploma thesis |
Supervisor: | Šíma, Ondřej |
Opponents: | Pour, Jiří |
Thesis language: | English |
Abstract: | In this paper, we analyse the relation between financial system and financial crises. Our goal is to find how, on the one hand, changes in the financial system affect the prospects for financial crises and, on the other hand, how the occurrence of financial crises shape the core elements of the financial system. We start by defining the financial crisis from three different perspectives.
After it, we present the comprehensive history of financial crises that will allow us to continue by drawing some common patterns that are universal. Universal patterns in crises give us the ground for contemplating on some universal policy responses where we again follow different approaches.
Taking into account the specifics of modern times and using the young and promising economy based on the blockchain, we are asking the question is this time different?. Analysis of initial development steps in the digital, trustless world gives us the basis for drawing parallels with the reality and the history.
Our results suggest that there are many similarities throughout history and between the real and digital world. Instead of providing an exact answer on the question is this time different we conclude that there is a present strong feeling of Deja vu. |
Keywords: | Smart contracts; Ethereum; Financial system; Blockchain; Financial crises |
Thesis title: | Changes of financial system in the context of financial crisis |
---|---|
Author: | Karan, Boris |
Thesis type: | Diplomová práce |
Supervisor: | Šíma, Ondřej |
Opponents: | Pour, Jiří |
Thesis language: | English |
Abstract: | In this paper, we analyse the relation between financial system and financial crises. Our goal is to find how, on the one hand, changes in the financial system affect the prospects for financial crises and, on the other hand, how the occurrence of financial crises shape the core elements of the financial system. We start by defining the financial crisis from three different perspectives.
After it, we present the comprehensive history of financial crises that will allow us to continue by drawing some common patterns that are universal. Universal patterns in crises give us the ground for contemplating on some universal policy responses where we again follow different approaches.
Taking into account the specifics of modern times and using the young and promising economy based on the blockchain, we are asking the question is this time different?. Analysis of initial development steps in the digital, trustless world gives us the basis for drawing parallels with the reality and the history.
Our results suggest that there are many similarities throughout history and between the real and digital world. Instead of providing an exact answer on the question is this time different we conclude that there is a present strong feeling of Deja vu. |
Keywords: | Smart contracts; Ethereum; Blockchain; Financial system; Financial crisis |
Information about study
Study programme: | Finance and Accounting |
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Type of study programme: | Magisterský studijní program |
Assigned degree: | Ing. |
Institutions assigning academic degree: | Vysoká škola ekonomická v Praze |
Faculty: | Faculty of Finance and Accounting |
Department: | Department of Monetary Theory and Policy |
Information on submission and defense
Date of assignment: | 25. 11. 2016 |
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Date of submission: | 1. 6. 2017 |
Date of defense: | 15. 6. 2017 |
Identifier in the InSIS system: | https://insis.vse.cz/zp/59767/podrobnosti |