Regulation And The Global Financial Crisis

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Regulation and the Global Financial Crisis

Daniel Cash,Robert Goddard
Regulation and the Global Financial Crisis Book PDF

Author : Daniel Cash,Robert Goddard
Publisher : Routledge
Page : 223 pages
File Size : 53,9 Mb
Release : 2020-11-24
Category : Law
ISBN : 9780429576539

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Regulation and the Global Financial Crisis by Daniel Cash,Robert Goddard Pdf

The Financial Crisis was a cross-sector crisis that fundamentally affected modern society. Regulation, as a concept, was both blamed for allowing the crisis to happen, but also tasked with developing and implementing solutions in the wake of the crash. In this book, a number of specialists from a range of fields have contributed their insights into the effect of the Financial Crisis upon the regulatory frameworks affecting their fields, how regulators have responded to the Crisis, and then what this may mean for the future of regulation within those industries. These analyses are joined by a picture of past financial crises – which reveals interesting patterns – and then analyses of architectural regulatory models that were fundamentally affected by the Crisis. The book aims to allow sector specialists the freedom to share their insights so that, potentially, a broader picture can be identified. Providing an interesting and thought-provoking account of this societally impactful era, this book will help the reader develop a more informed understanding of the potential future of financial regulation. The book will be of value to researchers, students, advanced level students, regulators, and policymakers.

Regulation and the Global Financial Crisis

Daniel Cash,Robert Goddard
Regulation and the Global Financial Crisis Book PDF

Author : Daniel Cash,Robert Goddard
Publisher : Routledge
Page : 0 pages
File Size : 48,7 Mb
Release : 2023-01-09
Category : Electronic
ISBN : 0367636654

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Regulation and the Global Financial Crisis by Daniel Cash,Robert Goddard Pdf

This book analyses the major regulatory developments since the financial crisis, along with sector-specific impacts that have emanated from that generational-defining era. An array of specialists detail developments within their own fields, so that a larger picture of the regulatory framework since the Crisis can be understood.

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 : 54,8 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.

After the Crash

Sharyn O'Halloran,Thomas Groll
After the Crash Book PDF

Author : Sharyn O'Halloran,Thomas Groll
Publisher : Columbia University Press
Page : 454 pages
File Size : 48,7 Mb
Release : 2019-10-08
Category : History
ISBN : 9780231549998

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After the Crash by Sharyn O'Halloran,Thomas Groll Pdf

The 2008 crash was the worst financial crisis and the most severe economic downturn since the Great Depression. It triggered a complete overhaul of the global regulatory environment, ushering in a stream of new rules and laws to combat the perceived weakness of the financial system. While the global economy came back from the brink, the continuing effects of the crisis include increasing economic inequality and political polarization. After the Crash is an innovative analysis of the crisis and its ongoing influence on the global regulatory, financial, and political landscape, with timely discussions of the key issues for our economic future. It brings together a range of experts and practitioners, including Joseph Stiglitz, a Nobel Prize winner; former congressman Barney Frank; former treasury secretary Jacob Lew; Paul Tucker, a former deputy governor of the Bank of England; and Steve Cutler, general counsel of JP Morgan Chase during the financial crisis. Each poses crucial questions: What were the origins of the crisis? How effective were international and domestic regulatory responses? Have we addressed the roots of the crisis through reform and regulation? Are our financial systems and the global economy better able to withstand another crash? After the Crash is vital reading as both a retrospective on the last crisis and an analysis of possible sources of the next one.

From Crisis to Crisis

Ross P. Buckley,Douglas W. Arner
From Crisis to Crisis Book PDF

Author : Ross P. Buckley,Douglas W. Arner
Publisher : Kluwer Law International B.V.
Page : 362 pages
File Size : 53,8 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9789041133540

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From Crisis to Crisis by Ross P. Buckley,Douglas W. Arner Pdf

The global financial system has proven increasingly unstable and crisis-prone since the early 1980s. The system has failed to serve either creditors or debtors well. This has been reinforced by the global financial crisis of 2008, where we have seen systemic weaknesses bring rich countries to the brink of bankruptcy and visit appalling suffering on the poorest citizens of poor countries. Yet the regulatory responses to this crisis have involved little thinking from outside the box in which the crisis was delivered to the world. This book presents a powerful indictment of this regulatory failure and calls for greatly increased attention to international financial law and analyses new regulatory measures with the potential to make a new recognition of the principles that ought to underlie it. Using a historical approach that compares the various financial crises of the past three decades, the authors clearly show how misconceived economic policy responses have paved the way for each next 'crash'. Among the numerous topics that arise in the course of this revealing analysis are the following: overvalued exchange rates; excess liquidity in rich countries; premature liberalisation of local financial markets; capital controls; derivatives markets; accounting standards; credit ratings and the conflicts in the role of credit rating agencies; investor protection arrangements; insurance companies; and payment, clearing and settlement activities. The authors offer detailed commentary on: the role of multilateral development banks, the IMF and the WTO in responding to crises; the role of the Basel Accords, the Financial Stability Forum and Board, and the responses of the European Commission, the US, and the G20 to the most recent crisis. The book concludes by exploring systemic game-changing reforms such as bank levies, financial activities taxes and financial transaction taxes, and a global sovereign bankruptcy regime; as well as measures to remove the currency mismatches from the balance sheets of developing countries. Apart from its great usefulness as a detailed introduction to the international financial system and its regulation, the book is enormously valuable for its clear identification of the areas of regulatory failure, and its analysis of new regulatory approaches that offer the potential for a genuinely more stable system. Banking and investment policymakers at every level, the lawyers that serve these markets and the regulators that seek to regulate them, cannot afford to neglect this book.

The Failure of Financial Regulation

Anil Hira,Norbert Gaillard,Theodore H. Cohn
The Failure of Financial Regulation Book PDF

Author : Anil Hira,Norbert Gaillard,Theodore H. Cohn
Publisher : Springer
Page : 252 pages
File Size : 46,8 Mb
Release : 2019-04-16
Category : Political Science
ISBN : 9783030056803

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The Failure of Financial Regulation by Anil Hira,Norbert Gaillard,Theodore H. Cohn Pdf

“This publication could not be more timely. Little more than a decade after the global financial crisis of 2008, governments are once again loosening the reins over financial markets. The authors of this volume explain why that is a mistake and could invite yet another major crisis.” —Benjamin Cohen, University of California, Santa Barbara, USA “Leading political scientists from several generations here offer historical depth, as well as sensible suggestions about what reforms are needed now.” —John Kirton, University of Toronto, Canada, and Co-founder of the G7 Research Group “A valuable antidote to complacency for policy-makers, scholars and students.” —Timothy J. Sinclair, University of Warwick, UK This book examines the long-term, previously underappreciated breakdowns in financial regulation that fed into the 2008 global financial crash. While most related literature focuses on short-term factors such as the housing bubble, low interest rates, the breakdown of credit rating services and the emergence of new financial instruments, the authors of this volume contend that the larger trends in finance which continue today are most relevant to understanding the crash. Their analysis focuses on regulatory capture, moral hazard and the reflexive challenges of regulatory intervention in order to demonstrate that financial regulation suffers from long-standing, unaddressed and fundamental weaknesses.

Regulatory Failure and the Global Financial Crisis

Mohamed Ariff,John Farrar,Ahmed M. Khalid
Regulatory Failure and the Global Financial Crisis Book PDF

Author : Mohamed Ariff,John Farrar,Ahmed M. Khalid
Publisher : Edward Elgar Publishing
Page : 257 pages
File Size : 50,5 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9780857935335

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Regulatory Failure and the Global Financial Crisis by Mohamed Ariff,John Farrar,Ahmed M. Khalid Pdf

This fascinating book presents a lively discussion of key issues resulting from the recent financial crisis. The expert contributors explore why the global financial crisis occurred, how it destroyed wealth, triggered mass unemployment and created an unprecedented loss of control on employment, monetary policy and government budgets. Important topics encompassing the origin and impact of the crisis, governance failure, regulatory forgiveness, credit splurges, asset bubbles and the greed of institutions are analysed from the wide-ranging perspectives of not only academics in both economics and law, but also industry practitioners and regulators. This multidimensional evaluation of what went wrong concludes with an outline of what is currently being done to prevent another major crisis, and prescribes recommendations for the implementation of further preventative measures. This book will prove a compelling read for economics, finance and law scholars, as well as for practitioners including accountants, lawyers and financial market players.

The Regulatory Aftermath of the Global Financial Crisis

Eilís Ferran,Niamh Moloney,Jennifer G. Hill,John C. Coffee, Jr
The Regulatory Aftermath of the Global Financial Crisis Book PDF

Author : Eilís Ferran,Niamh Moloney,Jennifer G. Hill,John C. Coffee, Jr
Publisher : Cambridge University Press
Page : 128 pages
File Size : 49,5 Mb
Release : 2012-11-15
Category : Law
ISBN : 9781139851787

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The Regulatory Aftermath of the Global Financial Crisis by Eilís Ferran,Niamh Moloney,Jennifer G. Hill,John C. Coffee, Jr Pdf

The EU and the US responded to the global financial crisis by changing the rules for the functioning of financial services and markets and by establishing new oversight bodies. With the US Dodd–Frank Act and numerous EU regulations and directives now in place, this book provides a timely and thoughtful explanation of the key elements of the new regimes in both regions, of the political processes which shaped their content and of their practical impact. Insights from areas such as economics, political science and financial history elucidate the significance of the reforms. Australia's resilience during the financial crisis, which contrasted sharply with the severe problems that were experienced in the EU and the US, is also examined. The comparison between the performances of these major economies in a period of such extreme stress tells us much about the complex regulatory and economic ecosystems of which financial markets are a part.

The Consequences of the Global Financial Crisis

Wyn Grant,Graham K. Wilson
The Consequences of the Global Financial Crisis Book PDF

Author : Wyn Grant,Graham K. Wilson
Publisher : Oxford University Press
Page : 287 pages
File Size : 50,8 Mb
Release : 2012-05-24
Category : Business & Economics
ISBN : 9780199641987

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The Consequences of the Global Financial Crisis by Wyn Grant,Graham K. Wilson Pdf

Systematically exploring the consequences of the global financial crisis, this text focuses primarily on the impact on policy and politics. It asks how governments responded to the challenges that the crisis has posed, and the policy and political impact of the combination of both the crisis itself and these responses.

Financial Regulation and Stability

Charles Goodhart,Dimitrios P. Tsomocos
Financial Regulation and Stability Book PDF

Author : Charles Goodhart,Dimitrios P. Tsomocos
Publisher : Edward Elgar Publishing
Page : 352 pages
File Size : 48,6 Mb
Release : 2019
Category : BUSINESS & ECONOMICS
ISBN : 9781788973656

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Financial Regulation and Stability by Charles Goodhart,Dimitrios P. Tsomocos Pdf

This book addresses the interaction of monetary and regulatory policy to achieve the important goal of price and financial stability. The authors show how financial stability can be assessed and measured continuously, and discuss the interrelationships between liquidity and default. Without default there would be no concern about liquidity. But the financial crisis was not just a liquidity problem, and requires a general equilibrium model. Their general equilibrium analysis demonstrates how policy should depend on understanding all the relevant factors.

Global Financial Development Report 2019/2020

World Bank
Global Financial Development Report 2019 2020 Book PDF

Author : World Bank
Publisher : World Bank Publications
Page : 281 pages
File Size : 42,9 Mb
Release : 2019-11-22
Category : Business & Economics
ISBN : 9781464814969

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Global Financial Development Report 2019/2020 by World Bank Pdf

Over a decade has passed since the collapse of the U.S. investment bank, Lehman Brothers, marked the onset of the largest global economic crisis since the Great Depression. The crisis revealed major shortcomings in market discipline, regulation and supervision, and reopened important policy debates on financial regulation. Since the onset of the crisis, emphasis has been placed on better regulation of banking systems and on enhancing the tools available to supervisory agencies to oversee banks and intervene speedily in case of distress. Drawing on ten years of data and analysis, Global Financial Development Report 2019/2020 provides evidence on the regulatory remedies adopted to prevent future financial troubles, and sheds light on important policy concerns. To what extent are regulatory reforms designed with high-income countries in mind appropriate for developing countries? What has been the impact of reforms on market discipline and bank capital? How should countries balance the political and social demands for a safety net for users of the financial system with potentially severe moral hazard consequences? Are higher capital requirements damaging to the flow of credit? How should capital regulation be designed to improve stability and access? The report provides a synthesis of what we know, as well as areas where more evidence is still needed. Global Financial Development Report 2019/2020 is the fifth in a World Bank series. The accompanying website tracks financial systems in more than 200 economies before, during, and after the global financial crisis (http://www.worldbank.org/en/publication/gfdr) and provides information on how banking systems are regulated and supervised around the world (http://www.worldbank.org/en/research/brief/BRSS).

The New International Financial System

Douglas D. E. T. Al EVANOFF
The New International Financial System Book PDF

Author : Douglas D. E. T. Al EVANOFF
Publisher : World Scientific
Page : 611 pages
File Size : 54,9 Mb
Release : 2015-10-27
Category : Business & Economics
ISBN : 9789814678339

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The New International Financial System by Douglas D. E. T. Al EVANOFF Pdf

Ever since the Great Recession, the global financial regulatory system has undergone significant changes. But have these changes been sufficient? Have they created a new problem of over-regulation? Is the system currently in a better position than in the pre-Recession years, or have we not adequately addressed the basic causes of the financial crisis and resulting Great Recession?These were the questions and issues addressed in the seventeenth annual international banking conference held at the Federal Reserve Bank of Chicago in November 2014. In collaboration with the Bank of England, the theme of the conference was to examine the state of the new global financial system as it has evolved in response to significant market changes and regulatory reforms triggered by the global financial crisis. The papers from that conference are collected in this volume, with contributions from an international array of government officials, regulators, industry practitioners and academics.

Global Finance in Crisis

Eric Helleiner,Stefano Pagliari,Hubert Zimmermann
Global Finance in Crisis Book PDF

Author : Eric Helleiner,Stefano Pagliari,Hubert Zimmermann
Publisher : Routledge
Page : 215 pages
File Size : 41,9 Mb
Release : 2010-01-21
Category : Business & Economics
ISBN : 9781135157623

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Global Finance in Crisis by Eric Helleiner,Stefano Pagliari,Hubert Zimmermann Pdf

Presents a systematic analysis of the international regulatory response to the global financial crisis. This volume examines the changes in international financial regulation from the vantage point of the key powers in global finance including the US, the EU, Japan, and China.

The 2008 Global Financial Crisis in Retrospect

Robert Z. Aliber,Gylfi Zoega
The 2008 Global Financial Crisis in Retrospect Book PDF

Author : Robert Z. Aliber,Gylfi Zoega
Publisher : Springer
Page : 443 pages
File Size : 47,6 Mb
Release : 2019-06-01
Category : Business & Economics
ISBN : 9783030123956

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The 2008 Global Financial Crisis in Retrospect by Robert Z. Aliber,Gylfi Zoega Pdf

This book addresses the causes and consequences of the international financial crisis of 2008. A range of esteemed contributors explore developments in the United States, where the crisis of 2008 originated, as well as the smallest country affected, Iceland, by evaluating developments since 2008. Currently, many countries are facing similar problems as Iceland did in 2008: this book is of interest to economists and policy makers in these countries to study what happened in Iceland, and why the recovery of that economy was strong and swift. The chapters in this book originate from panel discussions and conferences and explore areas including regulation, state projects and inflation.

Implications of the Global Financial Crisis for Financial Reform and Regulation in Asia

Masahiro Kawai,David G. Mayes,Peter Morgan
Implications of the Global Financial Crisis for Financial Reform and Regulation in Asia Book PDF

Author : Masahiro Kawai,David G. Mayes,Peter Morgan
Publisher : Edward Elgar Publishing
Page : 297 pages
File Size : 45,6 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9780857934727

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Implications of the Global Financial Crisis for Financial Reform and Regulation in Asia by Masahiro Kawai,David G. Mayes,Peter Morgan Pdf

'Filled with fresh observations from the global financial crisis, this book provides a blueprint for making Asia's financial systems safe. With contributions from experts in several countries, it is both comprehensive and rigorous. It will be invaluable to policy makers and students of finance everywhere, but its unique Asian perspective provides special insight into the systems that managed to ride out the global crisis but absent further reform might set the stage for another one. The book's analysis and recommendations deserve urgent policy attention.' Peter Petri, Brandeis University, US 'What are the lessons of the global financial crisis of 20072009 for Asia? This is a key issue for Asia today. On one hand, some observers argue that following the Asian financial crisis in 199798, most Asian developing countries built up strong mechanisms to guarantee financial stability. But the recent financial shocks across America and Europe show that even the best financial systems have key weaknesses. This book is a valuable guide for Asian financial policy-makers of the road ahead.' Peter McCawley, Australian National University In light of the experience of the global financial crisis, this book develops concrete recommendations for financial sector reform and regulation in Asian economies aimed at preventing the recurrence of systemic financial crises, improving the ability to manage and resolve crises, managing capital flows, and promoting the development of Asian bond markets. The focus of the book is on longer-term structural measures. It explores areas such as the scope for regional monitoring and cooperation; deepening and integration of Asian bond and money markets; liberalization/regulation of capital flows; issues related to macroprudential oversight, regulatory structure and cooperation; as well as role of state intervention in crisis resolution in the financial sector. The need for and impacts of regulations on innovative financial products and specific investor groups such as hedge funds; ways to reduce systemic risk of pro-cyclicality of regulation; and ways to improve the infrastructure and regulatory environment for local currency bond markets, are also examined in depth. The book will appeal to public and private finance experts, policy and decisions makers in governments and banks, think-tanks, and students in graduate courses related to financial and economic development.