Título:	Direito e economia da regulação financeira : debates recentes
Autor(es):	Valadares, Marcio Vidal de Campos
Orientador(es):	Castro, Marcus Faro de
Assunto:	Regulação econômica Instabilidade financeira Direito econômico Finanças - desempenho
Data de publicação:	11-Abr-2016
Data de defesa:	23-Abr-2015
Referência:	VALADARES, Marcio Vidal de Campos. Direito e economia da regulação financeira: debates recentes. 2015. viii, 85 f., il. Dissertação (Mestrado em Direito)—Universidade de Brasília, Brasília, 2015.
Abstract:	Financial markets have undergone considerable transformations over the past decades. Along this period, theoretical formulations about their ideal functioning have been proposed. Among the relevant theories, the so-called Efficient Market Hypothesis (EHM) played an influential role regarding the elaboration of regulation of financial markets in the United States, and later, also in the case of financial markets existing in several other countries. According to the EMH, markets are efficient when the price of assets reflects all relevant information available about them, and government intervention in financial markets should focus on repairing market failures, especially those related to information publicity and accuracy. Likewise, the so-called “Law and Finance” (L&F) literature has won great prestige in recent years. The L&F literature states, and attempts to demonstrate, that differences in financial development among countries derive solely from differences in legal institutions adopted by them. L&F holds that legal systems that protect the legal rights of investors and guarantee their enforcement will support the flourishing of financial markets. It also affirms that common law countries (in comparison with countries that have a civil law tradition) have better institutions to stimulate the development of markets. The L&F argument thus ends up affirming the view that developing countries could benefit from importing those legal institutions which are considered to be best suited to foster the growth of financial markets. However, several events related to the financial crisis of 2007-2008 have discredited the arguments of both the L&F and the EMH theoretical perspectives. Having such discussions as a background, the present work briefly explores theories which pay close attention to features of financial markets whose role in outcomes became clear during recent traumatic events of the 2007-2008 crisis. The present work thus explores the legal and regulatory importance of the fact that uncertainty cannot be completely eliminated from financial dealings and highlights the notion that economic actors can always face liquidity problems. Formulations based on these premises give rise to topics concerning the regulation of financial markets that have not yet been adequately confronted by most legal and financial scholarship concerned with financial regulation in the 21st century.
Informações adicionais:	Dissertação (mestrado)—Universidade de Brasília, Faculdade de Direito, 2015.
Programa de pós-graduação:	Programa de Pós-Graduação em Direito
Licença:	A concessão da licença deste item refere-se ao termo de autorização impresso assinado pelo autor com as seguintes condições: Na qualidade de titular dos direitos de autor da publicação, autorizo a Universidade de Brasília e o IBICT a disponibilizar por meio dos sites www.bce.unb.br, www.ibict.br, http://hercules.vtls.com/cgi-bin/ndltd/chameleon?lng=pt&skin=ndltd sem ressarcimento dos direitos autorais, de acordo com a Lei nº 9610/98, o texto integral da obra disponibilizada, conforme permissões assinaladas, para fins de leitura, impressão e/ou download, a título de divulgação da produção científica brasileira, a partir desta data.
DOI:	http://dx.doi.org/10.26512/2015.04.D.19923
Aparece nas coleções:	Teses, dissertações e produtos pós-doutorado

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