the global financial crisis triggers responses and aftermath

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The Global Financial Crisis

Author : Tony Ciro
ISBN : 9781317030249
Genre : Business & Economics
File Size : 63. 50 MB
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This book offers commentary and analysis on the catastrophic events which have recently confronted the international economy in the modern era and contrasts the current situation with other financial crises. It includes case studies on Lehman Brothers in the US, Babcock & Brown in Australia, and Northern Rock in the UK. Asking many pertinent questions about the causes of the crisis and its effects, the book explores fundamental themes such as: asset bubbles and speculation in the financial and non-financial markets, systemic risks and the role of regulation, and regulators. It also reviews the response of international institutions such as the IMF, the World Bank, the US Federal Reserve, the EU Central Bank and the G20. The book assesses the triggers of the crisis and evaluates rescue packages and policy responses as well as suggesting reform of regulatory and supervisory frameworks to maintain banking and modern financial systems in the future.

Handbook Of Empirical Research On Islam And Economic Life

Author : M. Kabir Hassan
ISBN : 9781784710736
Genre : Business & Economics
File Size : 24. 24 MB
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In Islamic jurisprudence, a comprehensive ethic has been formulated governing how business and commerce should be run, how accountability to God and the community is to be achieved, and how banking and finance is to be arranged. This Handbook examines how well these values are translated into actual performance. It explores whether those holding true to the system are hindered and put at a disadvantage or whether the Islamic institutions have been able to demonstrate that faith-based activities can be rewarding, both economically and spiritually.

Easy Money

Author : Vivek Kaul
ISBN : 9789351504979
Genre : Business & Economics
File Size : 48. 44 MB
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This is the third book in the Easy Money trilogy which discusses how, what the world now calls the global financial crisis evolved in the aftermath of the real estate bubble bursting in the United States and other parts of the world. In this book, we will try to understand the various reasons behind the financial crisis, and also identify the different villains behind it.

Financial Crises Causes Consequences And Policy Responses

Author : Stijn Claessens
ISBN : 9781484355268
Genre : Business & Economics
File Size : 47. 26 MB
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Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned. The book covers a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries are discussed. The medium-term effects of financial crises on economic growth, as well as policy measures to prevent booms, mitigate busts, and avoid crises are analyzed. Finally, policy measures for mitigating the adverse impact of crises and ways to restructure banks, households, and sovereigns are presented. The collection of research in this book provides an excellent overview of critical policy areas, with valuable lessons on how countries can better monitor their economies and financial systems.

Financial Crises Explanations Types And Implications

Author : Stijn Claessens
ISBN : 9781475579086
Genre : Business & Economics
File Size : 64. 79 MB
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This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Financial Crises Causes Consequences And Policy Responses

Author : Stijn Claessens
ISBN : 9781484324295
Genre : Business & Economics
File Size : 78. 42 MB
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Financial Crises: Causes, Consequences, and Policy Responses provides a comprehensive overview of research into financial crises and policy lessons learned. The book covers a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries are discussed. The medium-term effects of financial crises on economic growth, as well as policy measures to prevent booms, mitigate busts, and avoid crises are analyzed. Finally, policy measures for mitigating the adverse impact of crises and ways to restructure banks, households, and sovereigns are presented. The collection of research in this book provides an excellent overview of critical policy areas, with valuable lessons on how countries can better monitor their economies and financial systems.

Three Branches Of Theories Of Financial Crises

Author : Itay Goldstein
ISBN : 1680830848
Genre : Business & Economics
File Size : 74. 63 MB
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Three Branches of Theories of Financial Crises presents basic frameworks linked to the broad topic of financial crises and describes some of the directions in which they influenced the literature and the way they relate to recent events. The authors also address some of the policy challenges, shedding light on them using the analytical tools at hand so that this survey will help to highlight the basic underlying forces that have been studied in the literature for over three decades in a simple and transparent way. It will be an easy and accessible source to the many economists who are interested in exploring the topic of financial crises following recent events. After the Introduction, Section 2 reviews the literature on banking crises and panics. This literature is perhaps most directly linked to the concept of crises. While Section 2 emphasizes fragility faced by financial institutions due to coordination failures by their creditors, Section 3 reviews models that analyze frictions in loans extended by financial institutions and other lenders. Overall, the models of Sections 2 and 3 highlight fragility on the different sides of the balance sheet of a financial institution. Another literature that evolved independently is focused on currency crises. Traditionally, these were viewed as a separate phenomenon, unrelated to banking crises, but more recently the literatures have moved towards each other. Section 4 reviews models of currency crises and Section 5 provides concluding remarks.

The Foundations And Future Of Financial Regulation

Author : Mads Andenas
ISBN : 9781135043377
Genre : Law
File Size : 45. 20 MB
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Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al’s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective. The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance. This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.

Effective Crisis Response And Openness

Author : Simon J. Evenett
ISBN : 9781907142017
Genre : Business & Economics
File Size : 26. 47 MB
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The world has now faced the most severe global economic crisis since the Great Depression of the 1930s. Governments have responded to the crisis with many initiatives, often with implications for the openness of their national economies to global markets. While the primary objectives have been to support demand and thus economic activity and employment, recognition of cross-border spillovers has led to calls for international cooperation and to refrain from beggar-thy-neighbour measures. Arguably these calls have been heard. Efforts have been made to coordinate policy responses, through the G20 and other fora. As recovery becomes an ever greater prospect in late 2009, the question arises as to whether current, primarily non-binding inter-governmental cooperation will be sustained. Protectionist pressures may increase as trade recovers, imports into markets expand, and job growth still lags. Also, many governments are left with little margin for manoeuvre in fiscal and monetary policy, and in the event of an economic relapse, trade and industrial policies threaten to become the default stop-gap. The purpose of this book is to examine the ways in which the existing manifestations of openness, including binding international accords, have constrained or enhanced the options available to national policymakers during the crisis and influenced the degree, and potentially even the effectiveness, of cross-border cooperation. By examining state responses during the crisis in a number of distinct policy domains, the different chapters reveal potential complementarities and tensions as governments seek to tackle sharp national recessions while being mindful of the growing role that the international dimension has played in influencing national economies in an era of globalization.

Can We Avoid Another Financial Crisis

Author : Steve Keen
ISBN : 9781509513765
Genre : Political Science
File Size : 66. 74 MB
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The Great Financial Crash had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted. In this explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and how ever–rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become 'The Walking Dead of Debt', and those that are next in line – including Australia, Belgium, China, Canada and South Korea. A major intervention by a fearlessly iconoclastic figure, this book is essential reading for anyone who wants to understand the true nature of the global economic system.

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