The Road To Financial Reformation
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The Road To Financial Reformation
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Author : Henry Kaufman
language : en
Publisher: John Wiley & Sons
Release Date : 2009-07-30
The Road To Financial Reformation written by Henry Kaufman and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-07-30 with Business & Economics categories.
Our financial crisis: what happened, how we got here, and what needs to be done Henry Kaufman-an esteemed economist and statesman-is one of the most preeminent financial figures of the day, with a history of success from the 1980s, when his firm, Salomon Brothers, ruled the bond markets. In The Road to Financial Reformation, Dr. Kaufman, who has spent a lifetime entrenched in the world of finance, provides an insightful account of the history and impact of post-World War II financial markets on the economy-what happened, how we got to where we are today, and what needs to be done. Drawing on his vast breadth of knowledge and experience, Kaufman reveals the mistakes that got us into this debacle, the consequences-as they have not been fully realized-and how to put our derailed economy back on track. This book details Dr. Kaufman's warnings and concerns expressed repeatedly throughout the last quarter century, and shows that what he predicted came to pass. Provides an insightful account of the history and impact of post-World War II financial markets on the economy Explores the erosion of credit ratings on corporate debt in the late 1980s and the rapid increase in financial concentration of institutions Discusses the blinding faith in models that rely on historical data but fail to take into account economic and financial market structural changes With his breadth of knowledge and experience, Kaufman details that this crisis was foreseeable (he saw it coming), and how we created this history-making financial crisis. He also explains the consequences still to come, and presents solutions on how we can recover and reform the markets.
Financial Reform In China
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Author : Changwen Zhao
language : en
Publisher: Taylor & Francis
Release Date : 2017-07-06
Financial Reform In China written by Changwen Zhao and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-06 with Business & Economics categories.
This book focuses on the importance for China to correct the present imbalance in the relationship between the financial sector and the real economy. The book looks at China’s current financial system in terms of "extractive" and "inclusive". It asserts that the financial sector is producing huge "siphonic effects" that distort the overall development of the Chinese economy. Like a giant magnet, the financial sector attracts too many innovation factors, such as talents, capital and entrepreneurship away from the real economy and inhibits the development of the latter. Hence, the book argues that China’s financial system must now be thoroughly reformed to become an inclusive financial system, where finance and the rest of the economy can co-exist and develop in support of each other.
The International Handbook On Financial Reform
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Author : Maximilian Hall
language : en
Publisher: Edward Elgar Publishing
Release Date : 2003-01-01
The International Handbook On Financial Reform written by Maximilian Hall 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 2003-01-01 with Business & Economics categories.
Under growing pressure from within and outside their economies, countries around the world have embarked upon wide-ranging programmes of financial reform. This handbook provides country studies of contemporary developments in financial reform in a selection of both developed and developing countries from Western Europe, North America, South America, Asia and Australia. The outcome is an account of the contemporary world-wide attempt to refashion the way in which the financial services industry (and especially the banking sector) is regulated and supervised.
Implications Of The Global Financial Crisis For Financial Reform And Regulation In Asia
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Author : Masahiro Kawai
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Implications Of The Global Financial Crisis For Financial Reform And Regulation In Asia written by Masahiro Kawai 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.
'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.
Financial Reform Tracts
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Author : Financial Reform Association (Liverpool, England)
language : en
Publisher:
Release Date : 1848
Financial Reform Tracts written by Financial Reform Association (Liverpool, England) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1848 with Finance categories.
The Road To International Financial Stability
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Author : B. Schneider
language : en
Publisher: Springer
Release Date : 2003-11-30
The Road To International Financial Stability written by B. Schneider and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-11-30 with Political Science categories.
After the crisis in emerging market economies in the mid-late 1990s, the adoption of internationally recognised standards, or codes of good practice, was seen as a way to help strengthen the international financial system. This volume examines whether the standards and codes exercise can make a meaningful contribution to global financial stability and examines the developing country perspective. It takes the first steps in answering some of the open questions in the field.
Financial Reform Tracts
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Author : Financial Reform Association (Liverpool, England)
language : en
Publisher:
Release Date : 1848
Financial Reform Tracts written by Financial Reform Association (Liverpool, England) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1848 with Finance categories.
Busting The Bankers Club
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Author : Gerald Epstein
language : en
Publisher: Univ of California Press
Release Date : 2024-01-23
Busting The Bankers Club written by Gerald Epstein and has been published by Univ of California Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-23 with Business & Economics categories.
An eye-opening account of the failures of our financial system, the sources of its staying power, and the path to meaningful economic reform. Bankers brought the global economic system to its knees in 2007 and nearly did the same in 2020. Both times, the US government bailed out the banks and left them in control. How can we end this cycle of trillion-dollar bailouts and make finance work for the rest of us? Busting the Bankers' Club confronts the powerful people and institutions that benefit from our broken financial system—and the struggle to create an alternative. Drawing from decades of research on the history, economics, and politics of banking, economist Gerald Epstein shows that any meaningful reform will require breaking up this club of politicians, economists, lawyers, and CEOs who sustain the status quo. Thankfully, there are thousands of activists, experts, and public officials who are working to do just that. Clear-eyed and hopeful, Busting the Bankers' Club centers the individuals and groups fighting for a financial system that will better serve the needs of the marginalized and support important transitions to a greener, fairer economy.
Macroprudential Regulatory Policies
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Author : Stijn Claessens
language : en
Publisher: World Scientific
Release Date : 2011-11-02
Macroprudential Regulatory Policies written by Stijn Claessens and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-11-02 with Business & Economics categories.
This book is a collection of papers presented in the conference held at the Federal Reserve Bank of Chicago in September 2010, that examines the role of macroprudential regulation in the financial industry. Shocked by the experience of the last few years, many argue that the more traditional microprudential regulatory tools are inadequate to create a safe and stable financial system. The microprudential paradigm relies on the presumption that the financial system as a whole can be made safe by ensuring individual financial institutions are made safe. This ignores interconnections and externalities, whereby the actions of one financial institution or events in financial markets can lead to spillover effects that adversely affect general market conditions, other financial institutions, and ultimately the economy as a whole. Instead, it is argued, there is a need for both microprudential approaches to regulate individual institutions and macroprudential approaches to manage the overall financial system risks. Conference participants discussed macroprudential regulation and related issues, including: What are the theoretical motivations for macroprudential regulation? How would it interact with other regulatory and macroeconomic policies, especially monetary policy? What would be the specific macroprudential tools? Who should have control over the macroprudential tools? How should a macroprudential regulator be structured? Where should it be housed? How can macroprudential policies be structured across national borders? What role, if any, can market discipline play in supporting macroprudential objectives? Concentrating on public policy issues, the conference featured keynote addresses by influential past and present public policy figures including: Paul Volcker, Chairman of the US President's Economic Recovery Advisory Board and former Chairman of the Federal Reserve System; Tommaso Padoa-Schioppa, Chairman, Promontory Financial Group Europe and Former Chairman of the Basel Committee on Banking Supervision; Jaime Caruana, General Manager of the Bank for International Settlements and Former Chairman of the Basel Committee on Banking Supervision; and Charles Taylor, Director of the Pew Charitable Trust Financial Reform Project and Former Executive Director of the Group of Thirty. Contents:Special Addresses:Protecting the Stability of Global Financial Markets (Paul A Volcker)Global Macroprudential Regulation (Tommaso Padoa-Schioppa)The Challenge of Taking Macroprudential Decisions: Who Will Press Which Button(s)? (Jaime Caruana)Macroprudential Regulation and Evolution: Looking at the Financial System Through Darwin's Glasses (Charles Taylor)Why Macroprudential Policies are Needed:Lessons from American Bank Supervision from the Nineteenth Century to the Great Depression (Eugene N White)Coordination with Other Policies:Cross-Border Coordination of Macroprudential Policies (Attila Csajbók and Júlia Király)Macroprudential Policy: Central Banking Reconsidered (Jean-Pierre Landau)Macroprudential Policy and Monetary Policy: Some Lessons from the Euro Area (Domenico Giannone, Michele Lenza, Huw Pill, and Lucrezia Reichlin)Commentary on Macroprudential and Other Policies (E Philip Davis)Components of Macroprudential Regulation:Measuring Systemic Risk (Viral V Acharya)Systemic Risk in Bankruptcy Exceptions, Natural Candidates for Liquidity Charges (Enrico Perotti)Working Macroprudential Tools (Jesús Saurina)Structuring Macroprudential Regulation:On the Governance of Macroprudential Policies (Erlend W Nier)Some Implications of Systemic Risk and the Design of Regulatory Architecture (Marco Espinosa-Vega, Juan Solé, Charles Kahn and Rafael Matta)Cross-Border Issues:The Last Frontier: Protecting Critical Functions Across Borders (Eva H G Hüpkes)Cross-Border Crisis Management: Can Harmonization Create Harmony If the Orchestra Is Dissonant? (Grégory Nguyen and Peter Praet)Regulation and Competition in EU Banking: Before, During, and After the Crisis (André Sapir)Market Discipline:Cycle-Proof Market Discipline and Macroprudential Regulation (Luc Laeven)Curbing Risk on Wall Street (Oliver Hart and Luigi Zingales)What Role, If Any, Can Market Discipline Play in Supporting Macroprudential Policy? (María J Nieto)Policy Panel: Where to from Here?:Macroprudential Regulatory Policies: The New Road to Financial Stability (William R White)Beyond Regulatory Challenge: The New Public Policy Paradigm (Tarisa Wataganase)Challenges for Macroprudential Supervision (Randall Kroszner)Macroprudential Regulation, Financial Stability, and Capital Flows (José De Gregorio) Readership: Undergraduate and graduate students as well as researchers in international finance, central banks and financial regulators. Keywords:Macroprudential Regulation;Financial Regulation;Systemic Risk;Dodd-Frank;International Banking;Financial Crisis;Financial Stability;Bank Capital;Microprudential Regulation;Policy Tools;Cross-Border;Countercyclical Policy;Governance;Failure Resolution;Globalization;Basel III;Contingent Capital;Stress TestsKey Features:Very impressive list of speakers, particularly the keynote speakersThe global perspective provided by leading regulators and academicsThe ‘currentness’ or highly topical nature of the issues addressed
Civil Society And The Reform Of Finance
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Author : Charles McDaniel, Jr.
language : en
Publisher: Routledge
Release Date : 2015-07-16
Civil Society And The Reform Of Finance written by Charles McDaniel, Jr. and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-16 with Business & Economics categories.
Efforts to resolve the recent financial crisis have obscured a more deeply rooted financialization crisis that impacts not only the market economy but also the vital civic and moral traditions that support it. This book reveals the cultural influence of finance in reshaping the foundations of American civil society and proposes a return to certain "first principles" of the Republic to restore the nation’s economic vision. This book demonstrates how funding concerns and financial incentives "revalue" faith traditions, educational institutions, non-profit organizations, and even the nation’s healthcare system in ways that are eroding the diversity of American culture. These changes also undermine the ethical framework of both democratic government and the free-market system. While financial influence has diminished the value of civil society, this book proposes that revitalized intermediary institutions still offer the best path forward in restoring the financial sector and, more broadly, enriching the American competitive ethic toward development of a more virtuous economy. The book is written for an academic and professional audience, offering a blueprint for the involvement of civil society with government in providing more communally integrated oversight that could contribute to a genuine democratization of finance.