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Failure of the Dodd-Frank Act

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  • Michael I.C. Nwogugu

Abstract

Purpose - – This paper aims to explain the weaknesses and inconsistencies inherent in the Dodd-Frank Act of 2010 (USA). Design/methodology/approach - – The approach is entirely theoretical and multi-disciplinary (and relies on some third-party empirical research), and it consists of a literature review, critique and the development of theories which are applicable across countries. Findings - – The Dodd-Frank Act is inefficient and inadequate as a response to the global financial crisis. The Dodd-Frank Act has not resulted in significant economic growth and has increased transaction costs and compliance costs for both government agencies and financial services companies. Originality/value - – The author developed the theories introduced in the paper.

Suggested Citation

  • Michael I.C. Nwogugu, 2015. "Failure of the Dodd-Frank Act," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 22(4), pages 520-572, October.
    • Handle: RePEc:eme:jfcpps:jfc-11-2014-0053
    DOI: 10.1108/JFC-11-2014-0053
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