Recommended readings (Machine generated): Vol I: 1. Jeremy Greenwood and Boyan Jovanovic (1990), 'Financial Development, Growth, and the Distribution of Income', Journal of Political Economy, 98 (5), October, 1076-107 -- 2. Valerie R. Bencivenga and Bruce D. Smith (1991), 'Financial...

There was a systemic failure of financial regulation: senior policymakers repeatedly enacted and implemented policies that destabilised the global financial system. They maintained these policies even as they learned of the consequences of their policies during the decade before the crisis. The...