Financial and Regulatory Failure: The Case of Ireland
AbstractThe paper chronicles the evolution of financial regulation in Ireland, with particular attention given to the roles, responsibilities and actions of those authorities responsible for maintaining financial stability. It examines the role of financial regulation during the property bubble, in particular, the huge increase in propertybacked lending which fuelled its growth during the mid-2000s. We examine the impact of ongoing government support to the banking system and the damage which has been done to public finances since the banking crisis.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Geary Institute, University College Dublin in its series Working Papers with number 201136.
Length: 25 pages
Date of creation: 22 Dec 2011
Date of revision:
2008 banking crisis; regulatory failure; Ireland; principles based regulation; public debt;
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Joe Peek & Eric S. Rosengren & Geoffrey M. B. Tootell, 1999.
"Is bank supervision central to central banking?,"
99-7, Federal Reserve Bank of Boston.
- K.P.V. O'Sullivan & Tom Kennedy, 2010. "What caused the Irish banking crisis?," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 18(3), pages 224-242, July.
- K.P.V. O’Sullivan & Tom Kennedy, 2008. "Supervision of the Irish Banking System: A Critical Perspective," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 6(3), pages 20-26, October.
- Anil K Kashyap & Jeremy C. Stein & David W. Wilcox, 1992.
"Monetary Policy and Credit Conditions: Evidence From the Composition of External Finance,"
NBER Working Papers
4015, National Bureau of Economic Research, Inc.
- Kashyap, Anil K & Stein, Jeremy C & Wilcox, David W, 1993. "Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance," American Economic Review, American Economic Association, vol. 83(1), pages 78-98, March.
- Anil K. Kashyap & Jeremy C. Stein & David W. Wilcox, 1991. "Monetary policy and credit conditions: evidence from the composition of external finance," Finance and Economics Discussion Series 154, Board of Governors of the Federal Reserve System (U.S.).
- Thomas Conefrey & John Fitz Gerald, 2010.
"Managing Housing Bubbles In Regional Economies Under Emu: Ireland And Spain,"
National Institute Economic Review,
National Institute of Economic and Social Research, vol. 211(1), pages R27-R44, January.
- Conefrey, Thomas & FitzGerald, John, 2010. "Managing Housing Bubbles in Regional Economies Under EMU: Ireland and Spain," Papers RB2010/2/1, Economic and Social Research Institute (ESRI).
- Conefrey, Thomas & FitzGerald, John, 2009. "Managing Housing Bubbles in Regional Economies under EMU: Ireland and Spain," Papers WP315, Economic and Social Research Institute (ESRI).
- Reinhart, Carmen & Rogoff, Kenneth, 2009.
"The Aftermath of Financial Crises,"
CEPR Discussion Papers
7209, C.E.P.R. Discussion Papers.
- James R. Barth & Gerard Caprio, Jr. & Ross Levine, 2002.
"Bank Regulation and Supervision: What Works Best?,"
NBER Working Papers
9323, National Bureau of Economic Research, Inc.
- Barth, James R. & Caprio Jr., Gerard & Levine, Ross, 2001. "Bank regulation and supervision : what works best?," Policy Research Working Paper Series 2725, The World Bank.
- Goodhart, Charles & Schoenmaker, Dirk, 1995. "Should the Functions of Monetary Policy and Banking Supervision Be Separated?," Oxford Economic Papers, Oxford University Press, vol. 47(4), pages 539-60, October.
- Edward Kane, 1997. "Ethical Foundations of Financial Regulation," Journal of Financial Services Research, Springer, vol. 12(1), pages 51-74, August.
- Dowd, Kevin, 1996. "The Case for Financial Laissez-Faire," Economic Journal, Royal Economic Society, vol. 106(436), pages 679-87, May.
- Fabian Valencia & Luc Laeven, 2008. "Systemic Banking Crises: A New Database," IMF Working Papers 08/224, International Monetary Fund.
- Benston, George J & Kaufman, George G, 1996. "The Appropriate Role of Bank Regulation," Economic Journal, Royal Economic Society, vol. 106(436), pages 688-97, May.
- Englund, Peter, 1999. "The Swedish Banking Crisis: Roots and Consequences," Oxford Review of Economic Policy, Oxford University Press, vol. 15(3), pages 80-97, Autumn.
- Kevin Keasey & Gianluca Veronesi, 2008. "Lessons from the Northern Rock affair," Journal of Financial Regulation and Compliance, Emerald Group Publishing, vol. 16(1), pages 8-18, February.
- Joe Peek & Eric S. Rosengren & Geoffrey M. B. Tootell, 2001. "Synergies between Bank Supervision and Monetary Policy: Implications for the Design of Bank Regulatory Structure," NBER Chapters, in: Prudential Supervision: What Works and What Doesn't, pages 273-300 National Bureau of Economic Research, Inc.
- Ben S. Bernanke & Cara S. Lown, 1991. "The Credit Crunch," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(2), pages 205-248.
- Peter Temin, 1991. "Inside the Business Enterprise: Historical Perspectives on the Use of Information," NBER Books, National Bureau of Economic Research, Inc, number temi91-1, August.
- Bernanke, Ben S & Blinder, Alan S, 1988.
"Credit, Money, and Aggregate Demand,"
American Economic Review,
American Economic Association, vol. 78(2), pages 435-39, May.
- Friedman, Benjamin M & Kuttner, Kenneth N, 1992. "Money, Income, Prices, and Interest Rates," American Economic Review, American Economic Association, vol. 82(3), pages 472-92, June.
- Lars Jonung, 2008. "Lessons from Financial Liberalisation in Scandinavia," Comparative Economic Studies, Palgrave Macmillan, vol. 50(4), pages 564-598, December.
- Peter Temin, 1991. "Introduction to "Inside the Business Enterprise: Historical Perspectives on the Use of Information"," NBER Chapters, in: Inside the Business Enterprise: Historical Perspectives on the Use of Information, pages 1-6 National Bureau of Economic Research, Inc.
- FitzGerald, John, 2009. "Fiscal Policy for Recovery," Papers WP326, Economic and Social Research Institute (ESRI).
- Constantin Gurdgiev & Brian M. Lucey & Ciarán Mac an Bhaird & Lorcan Roche-Kelly, 2011. "The Irish Economy: Three Strikes and You’re Out?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 19-41, March.
- Edward J. Kane, 1997. "Ethical Foundations of Financial Regulation," NBER Working Papers 6020, National Bureau of Economic Research, Inc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Geary Tech).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.