Systemic consequences of outsourcing to the cloud (VOX)

Financial institutions are increasingly outsourcing information technology to the cloud, motivated by efficiency, security, and cost. This column argues that the consequence is likely to be short- and medium-term stability at the cost of the increased likelihood of catastrophic systemic events. Cloud providers are systemically important and should be regulated as such.

https://voxeu.org/article/systemic-consequences-outsourcing-cloud

Jon Danielsson, Robert Macrae

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