Template-Type: ReDIF-Article 1.0

Author-Name: Janos Kalman 
Author-Workplace-Name: Szechenyi Istvan University
Author-Email: kalman.janos@sze.hu
Author-Person: 

Title: The Concept of Financial Stability in Theory and Law

Abstract: State intervention in the functioning of the economy is necessarily based on some
public interests, which may serve as a reason for restrictive state action against
the individual, or their freedoms and rights. In legislation, financial stability can be
identified as a form of public interest, whereby the need to define the substance
of the concept is expressed as an expectation towards the legislator, all the more
so because it forms the basis of significant administrative intervention of the
public authority type. The study analyses how the concept of financial stability
appears in the literature, in legislation and in legal enforcement. Although the
concept of financial stability is strongly reflected in the theoretical literature and
even in legislation and legal enforcement, its substance is difficult to capture and
has evolved constantly. In view of the above, the author offers a definition for the
general legal concept of financial stability.

Classification-JEL: K1, K20
Keywords: state intervention, public interest, macroprudential policy, financial stability
Pages: 54-76
Volume: 22
Issue: 2
Year: 2023
File-URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-22-2-st2-kalman.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:22:y:2023:i:2:p:54-76