Описание: In the wake of the financial crisis, new regulatory measures were introduced which, along with changes in monetary and macroeconomic policy, have transformed the global financial structure. However, this new financial structure displays various fragilities. A new shadow banking system has grown both inside and outside the traditional banks and the divergence between core and periphery countries’ banks has increased further due to both the new regulations and the European Central Bank’s very peculiar interventions. Following Minsky’s approach, this volume explores the interplay between monetary policy, regulation and institutions in the aftermath of the great financial crisis. Minsky’s insights are used to interpret the recent regulatory changes and consider how they have affected the evolution of banks and financial markets. The unfortunate conclusion is that the changes in financial regulation introduced in various jurisdictions and inspired by the work of the Basel Committee, have not succeeded in thwarting the instability of the economic system. Instead, the mix of policies implemented so far has brought about increased fragility in the financial system. Minksy’s work on financial stability offers alternative solutions which policy-makers need to consider to resolve these issues. Financial Regulation in the European Union After the Crisis is an important volume for those who study political economy, banking and monetary economics.
Автор: Grote Название: The Regulation of International Financial Markets ISBN: 0521103797 ISBN-13(EAN): 9780521103794 Издательство: Cambridge Academ Рейтинг: Цена: 7591 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: A framework for analysing options for the regulation of international financial markets from a public international law and comparative law perspective.
Автор: Moloney Niamh Название: EU Securities and Financial Markets Regulation ISBN: 019966434X ISBN-13(EAN): 9780199664344 Издательство: Oxford Academ Рейтинг: Цена: 38866 р. Наличие на складе: Невозможна поставка.
Описание: This is the first comprehensive, authoritative account of the new regulatory and supervisory regime which now applies to the EU financial market following the radical and far-reaching regulatory, supervisory, and institutional reforms which have followed the Global Financial Crisis.
Автор: Moloney Niamh Название: EU Securities and Financial Markets Regulation ISBN: 0199664358 ISBN-13(EAN): 9780199664351 Издательство: Oxford Academ Рейтинг: Цена: 13197 р. Наличие на складе: Поставка под заказ.
Описание: The is the first comprehensive, authoritative account of the new regulatory and supervisory regime which now applies to the EU financial market following the radical and far-reaching regulatory, supervisory, and institutional reforms which have followed since the Global Financial Crisis.
Название: Institutional Structure of Financial Regulation ISBN: 1138242683 ISBN-13(EAN): 9781138242685 Издательство: Taylor&Francis Рейтинг: Цена: 8166 р. Наличие на складе: Поставка под заказ.
Описание:
In light of on-going global financial crises, the institutional structure of financial regulation is currently a subject of significant academic and practical interest. The financial crisis has called into question the adequacy of financial regulation at the national and supranational levels, and has instigated financial regulatory reforms in major markets overseas. This has included the enactment of the Dodd-Frank Act in the US, and the programme to split the Financial Services Authority in the UK.
This book examines the institutional structure reform of financial regulation from a comparative perspective, exploring both fundamental theories and international experiences. The book explores the three main institutional structures of financial regulation in the world; the sectors-based model, adopted in the US, Mainland China and Hong Kong; the twin-peaks model with Australia and the Netherlands as its pioneers; and the single-regulator model as represented by the former Financial Services Authority in the UK and the Financial Services Agency in Japan.
The book contains contributions from renowned experts in the field of financial regulation including Douglas Arner, Jeffrey Carmichael, Robin Hui Huang, Dirk Schoenmaker, and Michael Taylor, and will be of interest to students and researchers of banking and finance law, and comparative economics.
Financial markets have become acknowledged as a source of crisis, and discussion of them has shifted from economics, through legal and regulatory studies, to politics. Events from 2008 onwards raise important, cross-disciplinary questions: must financial markets drive states into political and existential crisis, must public finances take over private losses, must citizens endure austerity? This book argues that there is an alternative. If the financial system were less 'connected', contagion within the market would be reduced and crises would become more localised and intermittent, less global and pervasive. The question then becomes how to reduce connectedness within financial markets.
This book argues that the democratic direction of financial market policies can deliver this. Politicising financial market policies - taking discussion of these issues out of the sphere of the 'technical' and putting it into the same democratically contested space as, for example, health and welfare policies - would encourage differing policies to emerge in different countries. Diversity of regulatory regimes would result in some business models being attracted to some jurisdictions, others to others. The resulting heterogeneity, when viewed from a global perspective, would be a reversal of recent and current tendencies towards one single/global 'level playing field', within which all financial firms and sectors have become closely connected and across which contagion inevitably reigns.
No doubt the democratisation of financial market policy would be opposed by big firms - their interests being served by regulatory convergence - and considered macabre by some financial regulators and central bankers, who are coalescing into an elite community. However, everyone else, Nicholas Dorn argues here, would be better off in a financial world characterised by greater diversity.
Автор: Gerding Название: Law, Bubbles, and Financial Regulation ISBN: 1138674397 ISBN-13(EAN): 9781138674394 Издательство: Taylor&Francis Рейтинг: Цена: 8529 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
Financial regulation can fail when it is needed the most. The dynamics of asset price bubbles weaken financial regulation just as financial markets begin to overheat and the risk of crisis spikes. At the same time, the failure of financial regulations adds further fuel to a bubble.
This book examines the interaction of bubbles and financial regulation. It explores the ways in which bubbles lead to the failure of financial regulation by outlining five dynamics, which it collectively labels the "Regulatory Instability Hypothesis." .
The book concludes by outlining approaches to make financial regulation more resilient to these dynamics that undermine law.
Автор: Cao Название: Banking Regulation and the Financial Crisis ISBN: 0415607809 ISBN-13(EAN): 9780415607803 Издательство: Taylor&Francis Рейтинг: Цена: 22688 р. Наличие на складе: Невозможна поставка.
Описание: This book is a review on the economic theories of systemic risks in the financial market and the topics in constructing the macroprudential framework for banking regulation in the future. It explains the reasons why the traditional microprudential regulatory framework missed its target in stabilizing the market and preventing the crisis, and discusses the principles and instruments for designing macroprudential rules.
Автор: Chey Название: International Harmonization of Financial Regulation ISBN: 0415812429 ISBN-13(EAN): 9780415812429 Издательство: Taylor&Francis Рейтинг: Цена: 27225 р. Наличие на складе: Невозможна поставка.
Описание:
It is often argued that international financial regulation has been substantially strengthened over the past decades through the international harmonization of financial regulation. There are, however, still frequent outbreaks of painful financial crises, including the recent 2008 global financial crisis. This raises doubts about the conventional claims of the strengthening of international financial regulation.
This book provides an in-depth political economy study of the adoptions in Japan, Korea and Taiwan of the 1988 Basel Capital Accord, the now so-called Basel I, which has been at the center of international banking regulation over the past three decades, highlighting the domestic politics surrounding it. The book illustrates that, despite banks' formal compliance with the Accord in these countries, their compliance was often cosmetic due to extensive regulatory forbearance that allowed their real capital soundness to weaken. Domestic politics thus ultimately determined national implementations of the Accord. This book provides its novel innovative study of the Accord through scores of interviews with bank regulators and analysis of various primary documents. It suggests that the actual effectiveness of international financial regulation relies ultimately on the domestic politics surrounding it. It implies as well that the past trend of international harmonization of financial regulation may be illusory, to at least some extent, in terms of its actual effectiveness.
This book may interest not only political economists but also scholars working on the intersection of law, economics and institutions.
Автор: Gerding Название: Bubbles, Law and Financial Regulation ISBN: 0415779391 ISBN-13(EAN): 9780415779395 Издательство: Taylor&Francis Рейтинг: Цена: 23595 р. Наличие на складе: Невозможна поставка.
Описание: Financial regulation can fail when it is needed the most. The dynamics of asset price bubbles weaken financial regulation just as financial markets begin to overheat and the risk of crisis spikes. At the same time, the failure of financial regulations adds further fuel to a bubble. This book examines the interaction of bubbles and financial regulation. It explores the ways in which bubbles lead to the failure of financial regulation by outlining five dynamics, which it collectively labels the "Regulatory Instability Hypothesis." . The book concludes by outlining approaches to make financial regulation more resilient to these dynamics that undermine law.
Автор: Jackson, John H.; Cottier, Thomas; Lastra, Rosa M. Название: International Law in Financial Regulation and Monetary Affairs ISBN: 0199668191 ISBN-13(EAN): 9780199668199 Издательство: Oxford Academ Рейтинг: Цена: 18981 р. Наличие на складе: Невозможна поставка.
Описание: Analysing the emerging international legal framework governing financial institutions and markets, including monetary policies and monetary regulation, this book addresses the cross border issues that arise within this area. It highlights the lack of formal international law present, and shows how this contributed to the global financial crisis.
Автор: Morris Simon Название: Financial Services Regulation in Practice ISBN: 0199688753 ISBN-13(EAN): 9780199688753 Издательство: Oxford Academ Рейтинг: Цена: 26664 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This new work provides real insight into the practical, legal, and policy issues affecting all dealing with the post-crisis regulatory environment, making it an essential reference for understanding the regulatory agenda as well as advising on compliance and enforcement in the financial sector.
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