Hardback
Regulatory Failure and the Global Financial Crisis
An Australian Perspective
9780857935328 Edward Elgar Publishing
This fascinating book presents a lively discussion of key issues resulting from the recent financial crisis. The expert contributors explore why the global financial crisis occurred, how it destroyed wealth, triggered mass unemployment and created an unprecedented loss of control on employment, monetary policy and government budgets.
More Information
Contributors
Contents
More Information
This fascinating book presents a lively discussion of key issues resulting from the recent financial crisis. The expert contributors explore why the global financial crisis occurred, how it destroyed wealth, triggered mass unemployment and created an unprecedented loss of control on employment, monetary policy and government budgets.
Important topics encompassing the origin and impact of the crisis, governance failure, regulatory forgiveness, credit splurges, asset bubbles and the greed of institutions are analysed from the wide-ranging perspectives of not only academics in both economics and law, but also industry practitioners and regulators. This multidimensional evaluation of what went wrong concludes with an outline of what is currently being done to prevent another major crisis, and prescribes recommendations for the implementation of further preventative measures.
This book will prove a compelling read for economics, finance and law scholars, as well as for practitioners including accountants, lawyers and financial market players.
Important topics encompassing the origin and impact of the crisis, governance failure, regulatory forgiveness, credit splurges, asset bubbles and the greed of institutions are analysed from the wide-ranging perspectives of not only academics in both economics and law, but also industry practitioners and regulators. This multidimensional evaluation of what went wrong concludes with an outline of what is currently being done to prevent another major crisis, and prescribes recommendations for the implementation of further preventative measures.
This book will prove a compelling read for economics, finance and law scholars, as well as for practitioners including accountants, lawyers and financial market players.
Contributors
Contributors: M. Ariff, M. Bond, R.P Buckley, W. Byres, J. Carmichael, F. Clarke, K. Davis, G. Dean, J. Diplock, J. Farrar, A. Fels, N. Gaston, A. Khalid, R.I. MacKinnon, T. Makin
Contents
Contents:
Preface
1. Timeline of Crisis and Introduction
Mohamed Ariff and John Farrar
PART I: ORIGINS OF THE CRISIS AND IMPACT ON BANKING AND FINANCE
2. The Origin of the Global Financial Crisis: An Alternative View
Mohamed Ariff
3. Exchange Rate Changes and Global Trade Imbalances: China as a Major Creditor Company
Ronald I. MacKinnon
4. Bank Capital Adequacy: Where to Now?
Kevin Davis
PART II: CRISIS IMPACT ON ECONOMIC ACTIVITIES AND COSTS
5. Unemployment and the Global Financial Crisis: Who Suffered Most and Why?
Melisa Bond and Noel Gaston
6. The Fiscal Policy Response to the Global Financial Crisis: A Critique
Tony Makin
7. Cost Consequences to the Economy and Finance
Ahmed Khalid
PART III: GOVERNANCE AND REGULATORY ISSUES OF THE CRISIS
8. Improving the Governance of Financial Institutions
John Farrar
9. The Work of IOSCO and the Financial Regulatory Framework
Jane Diplock
10. Balancing National and International Interests
Wayne Byres
PART IV: LESSONS FROM THE CRISIS
11. Executive Remuneration in Australia
Allan Fels
12. Regulatory Lessons from the Global Financial Crisis
Jeffrey Carmichael
13. Should We Stop the IMF from Doing What it Should Not Do? A Radical Idea
Ross P. Buckley
14. When History is Ignored, Business Black Swans and the Use and Abuse of a Notion
Graeme Dean and Frank Clarke
Index
Preface
1. Timeline of Crisis and Introduction
Mohamed Ariff and John Farrar
PART I: ORIGINS OF THE CRISIS AND IMPACT ON BANKING AND FINANCE
2. The Origin of the Global Financial Crisis: An Alternative View
Mohamed Ariff
3. Exchange Rate Changes and Global Trade Imbalances: China as a Major Creditor Company
Ronald I. MacKinnon
4. Bank Capital Adequacy: Where to Now?
Kevin Davis
PART II: CRISIS IMPACT ON ECONOMIC ACTIVITIES AND COSTS
5. Unemployment and the Global Financial Crisis: Who Suffered Most and Why?
Melisa Bond and Noel Gaston
6. The Fiscal Policy Response to the Global Financial Crisis: A Critique
Tony Makin
7. Cost Consequences to the Economy and Finance
Ahmed Khalid
PART III: GOVERNANCE AND REGULATORY ISSUES OF THE CRISIS
8. Improving the Governance of Financial Institutions
John Farrar
9. The Work of IOSCO and the Financial Regulatory Framework
Jane Diplock
10. Balancing National and International Interests
Wayne Byres
PART IV: LESSONS FROM THE CRISIS
11. Executive Remuneration in Australia
Allan Fels
12. Regulatory Lessons from the Global Financial Crisis
Jeffrey Carmichael
13. Should We Stop the IMF from Doing What it Should Not Do? A Radical Idea
Ross P. Buckley
14. When History is Ignored, Business Black Swans and the Use and Abuse of a Notion
Graeme Dean and Frank Clarke
Index
