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Persistent link: https://www.econbiz.de/10012905124
Financial regulation today is largely framed by traditional business categories. The financial markets, however, have … problems addressed by (but now beyond the reach of) current regulation, and the rise of new problems that reflect change in how … financial regulation, in light of recent changes in the financial system, and offer a tentative way forward to address gaps in …
Persistent link: https://www.econbiz.de/10013151563
The 2007-08 Global Financial Crisis is a watershed phenomenon that reshaped global capitalism. Stemming from the argument that the Crisis was caused by deregulation, this article assesses to what extent the financial industry influenced the legislative process underlying these reforms. The...
Persistent link: https://www.econbiz.de/10014370438
The credit crisis that started in the American mortgage subprime market in 2007 is having profound social and economic consequences. In this context, lawmakers, regulators, and commentators have questioned the role of rating agencies in the market turmoil. In light of the critiques, a strong...
Persistent link: https://www.econbiz.de/10013156993
.S. financial regulation: (i) enactment is invariably crisis driven, adopted at a time when there is a paucity of information … Law” of U.S. financial regulation. The ensuing one-way regulatory ratchet generated by repeated financial crises has … experimentation to financial regulation. The use of those techniques, properly implemented, advances means-ends rationality, by better …
Persistent link: https://www.econbiz.de/10013044722
This Essay discusses two historical parallels between the current financial crisis and the financial crisis of the late 1920s and 1930s. First, financial innovation was at the core of both crises. In particular, the machinations of Ivar Kreuger illuminate how financial innovation tends to...
Persistent link: https://www.econbiz.de/10013148212
The existing international financial regulatory architecture is multifarious. Prevalent regulatory forums are numerous, with over-lapping spheres of activity, where all such forums share a lack of consolidated authority. Bodies like the Basel Committee on Banking Supervision (BCBS), Group of 20,...
Persistent link: https://www.econbiz.de/10013092182
Atlantic. We show that the regulation of bankers' pay is presently more detailed and less flexible in Europe than in the US …
Persistent link: https://www.econbiz.de/10013091649
This paper uses four case studies to review the performance of the Anglo-American regulatory ‘culture'. In the decade before the global financial crisis, American and British officials were almost identical in their analysis of and non-interventionist responses to identified threats from...
Persistent link: https://www.econbiz.de/10013153417