Precautionary Principle Approach in Time of Financial System Crisis

DOI

10.2991/assehr.k.201209.328How to use a DOI?

Keywords

Banking Crisis, Financial Crisis, Legal Gaps, Precautionary Principle

Abstract

The precautionary principle has the potential and essential role concerning specific fields to be applied more broadly and understood as an alternative approach in making decisions in the face of dangerous and uncertain threats. Thus, it is possible to use the precautionary principle approach in the financial system crisis prevention and or management framework. This article will discuss the precautionary principle and its possibility to use in the financial system crisis prevention and management framework. The discussion was carried out against the background of Indonesia’s monetary and banking crisis in 1997-1998. The crisis has provided experience as well as empirical knowledge that is useful for Indonesia to build a system of prevention and handling of financial and banking crises. Included in this case is the research on the precautionary principle in crisis prevention and handling to be important. The main point is the possibility of applying the precautionary principle as an approach to overcoming the legal gap that occurs when there are legal issues.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Kukuh Komandoko
PY  - 2020
DA  - 2020/12/14
TI  - Precautionary Principle Approach in Time of Financial System Crisis
BT  - Proceedings of the 2nd International Conference of Law, Government and Social Justice (ICOLGAS 2020)
PB  - Atlantis Press
SP  - 483
EP  - 489
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.201209.328
DO  - 10.2991/assehr.k.201209.328
ID  - Komandoko2020
ER  -