Globalisation and Finance at the Crossroads
The Financial Crisis, Regulatory Reform and the Future of Banking
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Beschreibung
Globalisation and the governance of the international financial system have arrived at the crossroads, where either a coherent level playing field for the cross-border activities of banks and multinational enterprises is settled upon, or the risk of another crisis will build up again. This book will explore the underlying problems alongside inconsistent economic and financial trends as a guide for researchers, advanced students and professionals to think about the interconnectedness of the factors involved. Readers will gain insights drawn from recent developments in economic theory and empirical research—a toolkit to help them in their future careers in economics and finance—illustrated with an analysis of the 2008 crisis and its aftermath.
Globalisation and the governance of the international financial system have arrived at the crossroads, where either a coherent level playing field for the cross-border activities of banks and multinational enterprises is settled upon, or the risk of another crisis will build up again. This book will explore the underlying problems alongside inconsistent economic and financial trends as a guide for researchers, advanced students and professionals to think about the interconnectedness of the factors involved. Readers will gain insights drawn from recent developments in economic theory and empirical research—a toolkit to help them in their future careers in economics and finance—illustrated with an analysis of the 2008 crisis and its aftermath.
Analyzes the lead up to the crisis, the crisis itself, and the attempts at regulatory reform Showcases the interconnectedness of the factors involved in the 2008-09 crisis Combines lateral thinking about technical finance and banking issues with historical factors Criticizes the reform process at Basel and offers solutions
Autor*in
Adrian Blundell-Wignall
Themen in »Globalisation and Finance at the Crossroads«
regulatory reform shadow banking technical finance banking issues Basel banking financial crises
Stimmen zu »Globalisation and Finance at the Crossroads«
“It now seems to be commonly believed that post crisis regulatory reforms have made a repeat of the 2008 financial crisis extremely unlikely. In this book, it is convincingly argued that this belief is not only wrong but dangerously wrong. “Still more of the same” regulatory tinkering is not the key to financial stability. Rather, the authors conclude that more fundamental reform is required, with their specific proposals amply supported by both compelling logic and solid empirical analysis. Above all, the book succeeds admirably in mounting a significant challenge to the current complacency. What if their views are right?” (William White, former Chief Economist of the Bank for International Settlements, UK)
“An excellent analysis of the financial crisis of 2008 by authors equipped to look broadly at the forces at work and focus deeply on the critical factors. The questionsthey raise concerning how far we have removed ourselves from the risk of a repeat are sobering, and their proposals for dealing more effectively with systemic risk than policymakers have to date are worth careful consideration.” (Jeffrey R Shafer, former vice Chairman of Citigroup’s Global Banking and Head of Economic and Political Strategies, USA)
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