Avoiding Another Meltdown
The authors argue that the current financial crisis, the worst since the Great Depression, can be seen as the latest phase in the evolution of financial markets under a radical financial deregulation process that began in the late 1970s. Deregulation accompanied by rapid financial innovation stimulated powerful booms that ended in crises. But governments responded to the crises with new bailouts that allowed new expansions to begin. As a result, financial markets have become ever larger, and the crises have become more threatening to society, which forces governments to enact ever larger bailouts. The authors provide a comprehensive set of regulatory solutions they believe will sharply reduce financial instability.
Volume (Year): 52 (2009)
Issue (Month): 1 (January)
|Contact details of provider:|| Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106043 |
When requesting a correction, please mention this item's handle: RePEc:mes:challe:v:52:y:2009:i:1:p:5-26. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen)The email address of this maintainer does not seem to be valid anymore. Please ask Chris Nguyen to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.