Lessons And Policy Implications From The Global Financial Crisis

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Lessons and Policy Implications from the Global Financial Crisis

Mr.Luc Laeven,Ms.Deniz Igan,Mr.Stijn Claessens,Mr.Giovanni Dell'Ariccia
Lessons and Policy Implications from the Global Financial Crisis Book PDF

Author : Mr.Luc Laeven,Ms.Deniz Igan,Mr.Stijn Claessens,Mr.Giovanni Dell'Ariccia
Publisher : International Monetary Fund
Page : 42 pages
File Size : 48,6 Mb
Release : 2010-02-01
Category : Business & Economics
ISBN : 9781451963021

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Lessons and Policy Implications from the Global Financial Crisis by Mr.Luc Laeven,Ms.Deniz Igan,Mr.Stijn Claessens,Mr.Giovanni Dell'Ariccia Pdf

The ongoing global financial crisis is rooted in a combination of factors common to previous financial crises and some new factors. The crisis has brought to light a number of deficiencies in financial regulation and architecture, particularly in the treatment of systemically important financial institutions, the assessments of systemic risks and vulnerabilities, and the resolution of financial institutions. The global nature of the financial crisis has made clear that financially integrated markets, while offering many benefits, can also pose significant risks, with large real economic consequences. Deep reforms are therefore needed to the international financial architecture to safeguard the stability of an increasingly financially integrated world.

Financial Crises

Mr.Stijn Claessens,Mr.Ayhan Kose,Mr.Luc Laeven,Mr.Fabian Valencia
Financial Crises Book PDF

Author : Mr.Stijn Claessens,Mr.Ayhan Kose,Mr.Luc Laeven,Mr.Fabian Valencia
Publisher : International Monetary Fund
Page : 670 pages
File Size : 42,9 Mb
Release : 2014-02-19
Category : Business & Economics
ISBN : 9781475543407

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Financial Crises by Mr.Stijn Claessens,Mr.Ayhan Kose,Mr.Luc Laeven,Mr.Fabian Valencia Pdf

The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

The Global Financial Crisis

Dick K. Nanto
The Global Financial Crisis Book PDF

Author : Dick K. Nanto
Publisher : DIANE Publishing
Page : 127 pages
File Size : 47,5 Mb
Release : 2009
Category : Business & Economics
ISBN : 9781437919844

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The Global Financial Crisis by Dick K. Nanto Pdf

Contents: (1) Recent Developments and Analysis; (2) The Global Financial Crisis and U.S. Interests: Policy; Four Phases of the Global Financial Crisis; (3) New Challenges and Policy in Managing Financial Risk; (4) Origins, Contagion, and Risk; (5) Effects on Emerging Markets: Latin America; Russia and the Financial Crisis; (6) Effects on Europe and The European Response: The ¿European Framework for Action¿; The British Rescue Plan; Collapse of Iceland¿s Banking Sector; (7) Impact on Asia and the Asian Response: Asian Reserves and Their Impact; National Responses; (8) International Policy Issues: Bretton Woods II; G-20 Meetings; The International Monetary Fund; Changes in U.S. Reg¿s. and Regulatory Structure; (9) Legislation.

Balancing the Banks

Mathias Dewatripont,Jean-Charles Rochet,Jean Tirole
Balancing the Banks Book PDF

Author : Mathias Dewatripont,Jean-Charles Rochet,Jean Tirole
Publisher : Princeton University Press
Page : 148 pages
File Size : 51,8 Mb
Release : 2015-09-22
Category : Business & Economics
ISBN : 9780691168197

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Balancing the Banks by Mathias Dewatripont,Jean-Charles Rochet,Jean Tirole Pdf

The financial crisis that began in 2007 in the US swept the world, producing substantial bank failures and forcing unprecedented state aid for the crippled global financial system. This book draws critical lessons from the causes of the crisis and proposes important regulatory reforms.

Financial Crises Explanations, Types, and Implications

Mr.Stijn Claessens,Mr.Ayhan Kose
Financial Crises Explanations Types and Implications Book PDF

Author : Mr.Stijn Claessens,Mr.Ayhan Kose
Publisher : International Monetary Fund
Page : 66 pages
File Size : 50,6 Mb
Release : 2013-01-30
Category : Business & Economics
ISBN : 9781475561005

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Financial Crises Explanations, Types, and Implications by Mr.Stijn Claessens,Mr.Ayhan Kose Pdf

This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

The Global Financial Crisis and Its Aftermath

A. G. Malliaris,Leslie Shaw,Hersh Shefrin
The Global Financial Crisis and Its Aftermath Book PDF

Author : A. G. Malliaris,Leslie Shaw,Hersh Shefrin
Publisher : Oxford University Press
Page : 521 pages
File Size : 48,8 Mb
Release : 2016
Category : Business & Economics
ISBN : 9780199386222

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The Global Financial Crisis and Its Aftermath by A. G. Malliaris,Leslie Shaw,Hersh Shefrin Pdf

... Expert contributors argue that the complexity of the Global Financial Crisis challenges researchers to offer more comprehensive explanations by extending the scope and range of their traditional investigations. To achieve this, the volume views the financial crisis simultaneously through three different lenses--economic, psychological, and social values ... They recognize how current economic analysis did not prepare academic economists, business economists, traders, and regulators to anticipate economic and financial crises ...

Global Financial Crises

Joseph R. Bisignano,William C. Hunter,George G. Kaufman
Global Financial Crises Book PDF

Author : Joseph R. Bisignano,William C. Hunter,George G. Kaufman
Publisher : Springer Science & Business Media
Page : 434 pages
File Size : 42,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461543671

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Global Financial Crises by Joseph R. Bisignano,William C. Hunter,George G. Kaufman Pdf

Since 1990, major banking and current crises have occurred in many countries throughout the world - including Mexico and Latin America in 1994-95, East Asia in 1997-98, and Russia and Brazil in 1998 - with large costs both to the individual countries experiencing the crises and to other nations. As a result, considerable effort has been expended by economists and policymakers to identify the causes of these crises and to design programs with the aim both of preventing similar crises from occurring in the future, and of minimizing the costs when these do occur. These studies have cut across national boundaries, being undertaken by individual researchers and organizations in particular countries, as well as by international institutions. This book collects the papers and discussants' comments presented at a conference co-sponsored by the Federal Reserve Bank of Chicago and the Bank for International Settlements in Basel, Switzerland, and held in Chicago, in early October 1999. The purpose of the conference was to identify and discuss the lessons to be learned from these crises. Topics discussed included reviews of the crises in the individual countries and regions; analyses of the policy responses, both by the affected countries and by official international institutions; what has been learned from these crises; deposit insurance reform; the design of bank capital regulation; the role of bank supervision and regulation; and the future of official international financial institutions, such as the International Monetary Fund and the World Bank. The conference participants included a broad range of academic, industry, and regulatory experts from more than twenty-five countries. Because of the timeliness of the conference and the wide-ranging expertise of the participants, the papers in this book should be of significant interest both to students of financial crises and to domestic and international policymakers.

The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions

Stijn Claessens,Ms. Laura E. Kodres
The Regulatory Responses to the Global Financial Crisis Some Uncomfortable Questions Book PDF

Author : Stijn Claessens,Ms. Laura E. Kodres
Publisher : International Monetary Fund
Page : 39 pages
File Size : 54,9 Mb
Release : 2014-03-14
Category : Business & Economics
ISBN : 9781484336656

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The Regulatory Responses to the Global Financial Crisis: Some Uncomfortable Questions by Stijn Claessens,Ms. Laura E. Kodres Pdf

We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into regulations agents’ incentives so as to align them better with societies’ goals; and acknowledging that risks of crises will always remain, in part due to (unknown) unknowns – be they tipping points, fault lines, or spillovers. Corresponding to these three tenets, specific areas for further reforms are identified. Policy makers need to resist, however, fine-tuning regulations: a “do not harm” approach is often preferable. And as risks will remain, crisis management needs to be made an integral part of system design, not relegated to improvisation after the fact.

The Global Financial Crisis

John P. Gallagher,Emmett C. Wilkins
The Global Financial Crisis Book PDF

Author : John P. Gallagher,Emmett C. Wilkins
Publisher : Unknown
Page : 0 pages
File Size : 45,8 Mb
Release : 2012
Category : Finance
ISBN : 1614703175

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The Global Financial Crisis by John P. Gallagher,Emmett C. Wilkins Pdf

This book presents current research in the study of the global financial crisis. Topics discussed include banking and financial infrastructure continuity; increasing IMF resources and the role of Congress; analysis and policy implication of the global financial crisis; implications for the United States and foreign and trade policy effects.

The Global Financial Crisis and Asia

Masahiro Kawai,Mario B. Lamberte,Yung Chul Park
The Global Financial Crisis and Asia Book PDF

Author : Masahiro Kawai,Mario B. Lamberte,Yung Chul Park
Publisher : OUP Oxford
Page : 343 pages
File Size : 54,5 Mb
Release : 2012-10-25
Category : Business & Economics
ISBN : 9780191636738

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The Global Financial Crisis and Asia by Masahiro Kawai,Mario B. Lamberte,Yung Chul Park Pdf

This book aims to identify and analyze the impact of the 2007-09 global financial crisis on Asian economies and to assess the short-term and longer-term policy responses to the crisis in terms of their effectiveness and sustainability. It draws lessons on how best to avoid and/or mitigate future crises and to identify structural policy recommendations that can help guide Asian policymakers to expand the growth potential of domestic and regional demand in coming years, and thereby create a basis for sustainable and inclusive long-term growth. Organized into four parts, it offers an accessible explanation of the causes, consequences, and contagion mechanisms of the crisis. Part 1 provides an overview of the major issues and presents policy recommendations. Part 2 reviews the crisis in the US and its transmission to Europe. Part 3 focuses on the impact on Asia. And Part 4 concludes lessons of the crisis for Asian countries. The volume highlights that Asian economies have already recovered strongly from the global financial crisis, reflecting their aggressive moves to ease monetary and fiscal policy as well as the underlying fundamental strength of their economies. However, the biggest challenge lies ahead. It asserts that, given that it is unlikely that the US and Europe will be engines of global growth, Asian economies should contribute to global economic adjustment by creating their own growth engines.

What Caused the Global Financial Crisis

Erlend Nier,Ouarda Merrouche
What Caused the Global Financial Crisis Book PDF

Author : Erlend Nier,Ouarda Merrouche
Publisher : International Monetary Fund
Page : 64 pages
File Size : 55,9 Mb
Release : 2010-11-01
Category : Business & Economics
ISBN : 9781455210725

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What Caused the Global Financial Crisis by Erlend Nier,Ouarda Merrouche Pdf

This paper investigates empirically the drivers of financial imbalances ahead of the global financial crisis. Three factors may have contributed to the build-up of financial imbalances: (i) rising global imbalances (capital flows), (ii) monetary policy that might have been too loose, (iii) inadequate supervision and regulation. Panel data regressions are performed for OECD countries from 1999 to 2007, so as to shed light on the relative importance of these factors, as well as the extent to which these factors might have interacted in fuelling the build-up. We find that the build-up of financial imbalances was driven by capital inflows and an associated compression of the spread between long and short rates. The effect of capital inflows on the build-up is amplified where the supervisory and regulatory environment was relatively weak. We find that, by contrast, differences in monetary policy cannot account for differences across countries in the build-up of financial imbalances ahead of the crisis.

Preparing For Pandemics: Lessons From The Global Financial Crisis And Covid-19

David Longworth,Frank Milne
Preparing For Pandemics Lessons From The Global Financial Crisis And Covid 19 Book PDF

Author : David Longworth,Frank Milne
Publisher : World Scientific
Page : 196 pages
File Size : 40,5 Mb
Release : 2022-06-08
Category : Political Science
ISBN : 9789811255946

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Preparing For Pandemics: Lessons From The Global Financial Crisis And Covid-19 by David Longworth,Frank Milne Pdf

In far too many cases, recommendations of forensic reports on previous pandemics were ignored. Substantial weaknesses in the preparation by public health authorities and governments increased the health and economic costs of the COVID-19 pandemic relative to what they would have been if pre-existing recommendations had been followed and a wider set of plans had been put into place. We discuss parallels between the lack of preparation of financial system regulators prior to the global financial crisis and the lack of preparation by public health authorities and governments prior to COVID-19. These parallels relate to: required stocks (of capital or equipment), data collection and sharing, lending facilities, stress testing and war games, early warning indicators and systems, contagion from abroad, operational risks, a system-wide approach (including effects on the real economy), models incorporating the heterogeneity of individuals, and effects on less-regulated parts of the system. The recent COVID-19 crisis has demonstrated that, apart from the direct economic consequences from illness and death from the virus, the main costs have been due to the varying degrees of preventative measures taken by the public, firms, and governments that directly impacted health, as well as social, economic, and financial activity. We make recommendations for carrying out post mortems on the COVID-19 experience, planning for future pandemics, and establishing transparent and accountable governance systems. We then propose the use of regular, combined health, economic, and financial stress tests and exercises/war games in preparing for future pandemics and other major environmental shocks.

The Global Financial Crisis in Retrospect

Anthony Elson
The Global Financial Crisis in Retrospect Book PDF

Author : Anthony Elson
Publisher : Springer
Page : 255 pages
File Size : 44,5 Mb
Release : 2017-01-03
Category : Business & Economics
ISBN : 9781137597502

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The Global Financial Crisis in Retrospect by Anthony Elson Pdf

This book provides a uniquely comprehensive explanation of the 2008-2009 global financial crisis and resulting scholarly research in the context of building an agenda for reform. With the clarity provided by almost a decade of hindsight and a careful eye toward planning for prevention, Elson guides readers through both historical fact and scholarly interpretation, highlighting areas where careful critique of and changes in the international financial architecture and the mainstream macroeconomic paradigm can promote greater financial stability in the future. Given the great public concern over growing income and wealth inequality, the book examines their links to the increased financialization of the economy, both prior to and since the crisis. Finally, the book identifies a number of lessons that need to be recognized if adequate and effective reforms are to be introduced to avoid a financial crisis of similar magnitude in the future. Comprehensive enough for university students and sufficiently innovative for financial policymakers, this book will appeal to a wide range of readers interested in understanding not just where the crisis has brought us, but what key economists have said about it and how we can strengthen our financial system oversight to deal with the continuing challenges of globalization.

Global Financial Crisis

Paolo Savona,Chiara Oldani
Global Financial Crisis Book PDF

Author : Paolo Savona,Chiara Oldani
Publisher : Routledge
Page : 348 pages
File Size : 40,6 Mb
Release : 2016-04-22
Category : Business & Economics
ISBN : 9781317127819

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Global Financial Crisis by Paolo Savona,Chiara Oldani Pdf

Out of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani Global Financial Crisis: Global Impact and Solutions examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.

Learning From the Global Financial Crisis

Paul Shrivastava,Matt Statler
Learning From the Global Financial Crisis Book PDF

Author : Paul Shrivastava,Matt Statler
Publisher : Stanford Business Books
Page : 0 pages
File Size : 44,7 Mb
Release : 2012-02-15
Category : Business & Economics
ISBN : 0804770093

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Learning From the Global Financial Crisis by Paul Shrivastava,Matt Statler Pdf

This book is motivated by the simple hope that the cloud of the global financial crisis may yet have a silver lining—that political leaders, economists, and management scholars might seize this opportunity to reflect critically on the assumptions, practices, and infrastructures that have precipitated the crisis and to imagine and create new forms of organization that sustainably enhance the well-being of global stakeholders. The contributors suggest that aesthetic management, high reliability and crisis management, and sustainability science have much to contribute to the resolution of the collapse that we've witnessed, and to providing enduring lessons for how to structure the institutions of the future. Learning From the Global Financial Crisis devotes a section to each of these areas, offering full-length chapters which explore key issues in depth, as well as shorter commentaries that focus on practical considerations. The chapters progress from micro-level issues that pertain to individuals and teams who act creatively; to the meso-level issues that pertain to the structures, practices, and processes; to the macro-level issues that pertain to the interdependent, ecological systems. Together, the contributions emphasize the importance of developing holistic responses to the financial crisis. The result is a volume that casts new light on traditional economic and managerial theories and policies and provides fresh ideas to a new generation of scholars and practitioners.