Regulatory Crisis
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Regulatory Crisis
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Author : Bridget M. Hutter
language : en
Publisher: Cambridge University Press
Release Date : 2017-05-11
Regulatory Crisis written by Bridget M. Hutter and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-11 with Political Science categories.
This book presents the concept of 'regulatory crisis', reframing practical and theoretical questions about how disasters and crises challenge regulators and regulation.
From Crisis To Crisis
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Author : Ross P. Buckley
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2011-01-01
From Crisis To Crisis written by Ross P. Buckley and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-01 with Business & Economics categories.
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.
Regulation And The Global Financial Crisis
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Author : Daniel Cash
language : en
Publisher: Routledge
Release Date : 2020-11-24
Regulation And The Global Financial Crisis written by Daniel Cash and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-24 with Law categories.
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.
The Regulatory Aftermath Of The Global Financial Crisis
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Author : Eilís Ferran
language : en
Publisher: Cambridge University Press
Release Date : 2012-11-15
The Regulatory Aftermath Of The Global Financial Crisis written by Eilís Ferran and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-15 with Law categories.
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.
Regulatory Failure And The Global Financial Crisis
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Author : Mohamed Ariff
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Regulatory Failure And The Global Financial Crisis written by Mohamed Ariff and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
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 Responses To The Global Financial Crisis
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Author : Mr.Stijn Claessens
language : en
Publisher: International Monetary Fund
Release Date : 2014-03-14
The Regulatory Responses To The Global Financial Crisis written by Mr.Stijn Claessens and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-03-14 with Business & Economics categories.
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.
Regulatory Breakdown
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Author : Cary Coglianese
language : en
Publisher: University of Pennsylvania Press
Release Date : 2012-08-16
Regulatory Breakdown written by Cary Coglianese and has been published by University of Pennsylvania Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-16 with Political Science categories.
Regulatory Breakdown: The Crisis of Confidence in U.S. Regulation brings fresh insight and analytic rigor to what has become one of the most contested domains of American domestic politics. Critics from the left blame lax regulation for the housing meltdown and financial crisis—not to mention major public health disasters ranging from the Gulf Coast oil spill to the Upper Big Branch Mine explosion. At the same time, critics on the right disparage an excessively strict and costly regulatory system for hampering economic recovery. With such polarized accounts of regulation and its performance, the nation needs now more than ever the kind of dispassionate, rigorous scholarship found in this book. With chapters written by some of the nation's foremost economists, political scientists, and legal scholars, Regulatory Breakdown brings clarity to the heated debate over regulation by dissecting the disparate causes of the current crisis as well as analyzing promising solutions to what ails the U.S. regulatory system. This volume shows policymakers, researchers, and the public why they need to question conventional wisdom about regulation—whether from the left or the right—and demonstrates the value of undertaking systematic analysis before adopting policy reforms in the wake of disaster.
Crisis Prevention And Crisis Management
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Author : Udaibir S. Das
language : en
Publisher: International Monetary Fund
Release Date : 2002
Crisis Prevention And Crisis Management written by Udaibir S. Das and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Banks and banking categories.
The Failure Of Financial Regulation
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Author : Anil Hira
language : en
Publisher: Springer
Release Date : 2019-04-16
The Failure Of Financial Regulation written by Anil Hira and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-16 with Political Science categories.
“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 Cycles Revisiting The Political Economy Of Financial Crises
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Author : Jihad Dagher
language : en
Publisher: International Monetary Fund
Release Date : 2018-01-15
Regulatory Cycles Revisiting The Political Economy Of Financial Crises written by Jihad Dagher and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-15 with Business & Economics categories.
Financial crises are traditionally analyzed as purely economic phenomena. The political economy of financial booms and busts remains both under-emphasized and limited to isolated episodes. This paper examines the political economy of financial policy during ten of the most infamous financial booms and busts since the 18th century, and presents consistent evidence of pro-cyclical regulatory policies by governments. Financial booms, and risk-taking during these episodes, were often amplified by political regulatory stimuli, credit subsidies, and an increasing light-touch approach to financial supervision. The regulatory backlash that ensues from financial crises can only be understood in the context of the deep political ramifications of these crises. Post-crisis regulations do not always survive the following boom. The interplay between politics and financial policy over these cycles deserves further attention. History suggests that politics can be the undoing of macro-prudential regulations.