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Lessons From The Financial Crisis: The International Dimension

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  • Roland Vaubel

Abstract

The current financial crisis has arisen as a result of entrepreneurial and business error rather than because of inappropriate incentives within the private sector. However, government failure has exacerbated the problem. The case for responding to government failure by greater international co‐ordination of banking regulation is weak. The IMF is particularly ill‐suited for this job.

Suggested Citation

  • Roland Vaubel, 2009. "Lessons From The Financial Crisis: The International Dimension," Economic Affairs, Wiley Blackwell, vol. 29(3), pages 22-26, September.
    • Handle: RePEc:bla:ecaffa:v:29:y:2009:i:3:p:22-26
    DOI: 10.1111/j.1468-0270.2009.01914.x
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    References listed on IDEAS

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    1. Patrick, John D., 1973. "Establishing convergent decentralized policy assignment," Journal of International Economics, Elsevier, vol. 3(1), pages 37-51, February.
    2. Roland Vaubel, 2008. "The political economy of labor market regulation by the European Union," The Review of International Organizations, Springer, vol. 3(4), pages 435-465, December.
    3. Frank-Oliver Aldenhoff, 2007. "Are economic forecasts of the International Monetary Fund politically biased? A public choice analysis," The Review of International Organizations, Springer, vol. 2(3), pages 239-260, September.
    4. Axel Dreher & Roland Vaubel, 2004. "Do IMF and IBRD Cause Moral Hazard and Political Business Cycles? Evidence from Panel Data," Open Economies Review, Springer, vol. 15(1), pages 5-22, January.
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    Cited by:

    1. Ruben Atoyan & Patrick Conway, 2011. "Projecting macroeconomic outcomes: Evidence from the IMF," The Review of International Organizations, Springer, vol. 6(3), pages 415-441, September.

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