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Financial Regulatory Reform in Global Perspective: Discussion in the Global Summit of Shadow Financial Regulatory Committees

Author

Listed:
  • Satoshi Koibuchi

    (Associate Professor of Finance, Faculty of Commerce, Chuo University, and Visiting Scholar, Asia-Pacific Research Center, Stanford University)

Abstract

This paper summarizes the direction of financial regulatory reforms in Japan, the United States, Europe, Australia and New Zealand after the global financial crisis based on debates at the global summit of Shadow Financial Regulatory Committees in Tokyo in October 2013, to which financial and economic experts from six regions around the world were invited. After the summarization, the paper sorts out and assesses several points of discussion that tend to be overlooked during debates on strengthening of financial regulations (identification of the causes of crises, increasing complexity of regulations and the role of market discipline) in relation to the problems concerning liquidity regulation that were cited in a recommendation issued at the global summit.

Suggested Citation

  • Satoshi Koibuchi, 2016. "Financial Regulatory Reform in Global Perspective: Discussion in the Global Summit of Shadow Financial Regulatory Committees," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 12(2), pages 239-252, March.
    • Handle: RePEc:mof:journl:ppr012_02c
    as

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    File URL: https://warp.da.ndl.go.jp/info:ndljp/pid/11217434/www.mof.go.jp/english/pri/publication/pp_review/fy2015/ppr012_02c.pdf
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    References listed on IDEAS

    as
    1. Kimie Harada & Takeo Hoshi & Masami Imai & Satoshi Koibuchi & Ayako Yasuda, 2015. "Japan’s financial regulatory responses to the global financial crisis," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 7(1), pages 51-67, April.
    2. S. Carbó-Valverde & H.A. Benink & T. Berglund & C. Wihlborg, 2015. "Regulatory Response to the Financial Crisis in Europe: Recent Developments (2010–2013)," World Scientific Book Chapters, in: James R Barth & George G Kaufman (ed.), The First Great Financial Crisis of the 21st Century A Retrospective, chapter 7, pages 167-218, World Scientific Publishing Co. Pte. Ltd..
    3. Robert A. Eisenbeis & Richard J. Herring, 2015. "Playing for time: the Fed’s attempt to mange the crisis as a liquidity problem," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 7(1), pages 68-88, April.
    4. C.A. Brown & K.T. Davis & D.G. Mayes, 2015. "Regulatory Change in Australia and New Zealand Following the Global Financial Crisis," World Scientific Book Chapters, in: James R Barth & George G Kaufman (ed.), The First Great Financial Crisis of the 21st Century A Retrospective, chapter 8, pages 219-248, World Scientific Publishing Co. Pte. Ltd..
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    financial regulatory reform; Shadow Financial Regulatory Committees; liquidity regulation;
    All these keywords.

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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