The (revised) future of financial markets
Purpose – The purpose of this paper is to evaluate recent financial system reforms in the USA by placing them in the context of major structural trends currently underway in the markets, due to technology and globalization of trading. Design/methodology/approach – The paper describes trends underway in markets and examines how the new rules recently agreed to in the USA and among regulators globally will bear on them. Findings – The paper finds that the financial system reforms in the USA can be expected to have modest beneficial effects in terms of making markets more robust and efficient, and that key trends affecting markets need to be taken into account as regulators implement the new rules and evaluate the need for future amendments. Our findings imply that regulators should be willing to closely monitor the reforms and adjust them quickly as needed. Originality/value – This article adds the perspective of interacting key secular trends in the structure of the banking and financial system with the latest regulatory initiatives.
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Volume (Year): 3 (2011)
Issue (Month): 2 (July)
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References listed on IDEAS
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.:
- Viral V. Acharya & Lasse H. Pedersen & Thomas Philippon & Matthew Richardson, 2010.
"Measuring systemic risk,"
1002, Federal Reserve Bank of Cleveland.
- repec:fip:fedhpr:y:2010:i:may:p:65-71 is not listed on IDEAS
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