Systemic Risk

1 Introduction: Systemic Risk Revisited-Steps to an Integrated Approach 7

2 Describing Systemic Risk 16

2.1 Basic Features of Systemic Risk 18

2.1.1 Systemic Risk as an Emergent Property of Global Finance 19

2.1.2 Types of Financial Systems 33

2.1.3 Definitions of Systemic Risk 43

3 The Myth of Rational Finance: A Review of Systemic Properties of Global Finance 48

3.1 System Governance 55

3.2 Ove...