This article reviews the causes of the crisis, explores the nature of financial intermediation, presents a set of reforms to overcome the deficiencies of the regulatory structure and examines the role of monetary policy in the current crisis. It concludes that it is essential to increase regulatory capital requirements and liquidity of banks and increase the guarantees of financial products that are traded globally.
Volume (Year): 12 (2010)
Issue (Month): 22 (January-June)
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- Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Preface," MPRA Paper 17451, University Library of Munich, Germany.
- Alan Greenspan, 2000. "Technology and Financial Services," Journal of Financial Services Research, Springer;Western Finance Association, vol. 18(2), pages 109-113, December.
- Reinhart, Karmen & Rogoff, Kenneth, 2009. ""This time is different": panorama of eight centuries of financial crises," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 1, pages 77-114, March.
- Brigitte Desroches & Michael Francis, 2010.
"World real interest rates: a global savings and investment perspective,"
Taylor & Francis Journals, vol. 42(22), pages 2801-2816.
- Brigitte Desroches & Michael Francis, 2007. "World Real Interest Rates: A Global Savings and Investment Perspective," Staff Working Papers 07-16, Bank of Canada.
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