The Global Crisis: Fatal Decisions - Four Case Studies in Financial Regulation
AbstractThis paper uses four case studies to review the performance of the Anglo-American regulatory ¡¥culture¡¦. In the decade before the global financial crisis, American and British officials were almost identical in their analysis of and non-interventionist responses to identified threats from changing financial conditions in Asia; dependence of new financial products on the insurance industry; shortcomings of the rating agencies; and excesses in their property markets. They now acknowledge these past policy errors but continue to resist consumer protection and other reform initiatives.
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Bibliographic InfoPaper provided by Hong Kong Institute for Monetary Research in its series Working Papers with number 332009.
Length: 25 pages
Date of creation: Nov 2009
Date of revision:
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Asia; China; Derivatives; Insurance; Credit Ratings; Property; Consumer Protection;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-02 (All new papers)
- NEP-HIS-2010-05-02 (Business, Economic & Financial History)
- NEP-IAS-2010-05-02 (Insurance Economics)
- NEP-PKE-2010-05-02 (Post Keynesian Economics)
- NEP-REG-2010-05-02 (Regulation)
- NEP-SEA-2010-05-02 (South East Asia)
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