FİNANSAL KRİZLERİN ÖNLENEMEMESİNDE ASİMETRİK BİLGİNİN ROLÜ*.

Asymmetric information is one of the approaches to explain financial crises. According to the asymmetric information approach, the information asymmetry between the lender and the borrower is the root cause of financial crises. In the presence of information asymmetry, the resources injected into the economy flow to areas that cannot be used effectively. Unlike the approach, this study draws attention to the information difference between the regulatorysupervisory authority and the regulated-supervised sectors. The study claims that the information asymmetry is the main reason why financial crises cannot be prevented. According to the study, the incomplete information level of the regulatory authority makes it difficult to take measures for risky activities of financial markets that may lead to a crisis. As a result, the ineffectiveness of the measures taken causes financial crises to recur, as in 2008. [ABSTRACT FROM AUTHOR]