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The origins of the sub-prime crisis: Inappropriate policies, regulations, or both?

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  • Mervyn K. Lewis

Abstract

This article analyses the origins of the sub-prime crisis. It argues that a series of serious policy errors in the United States created the conditions in which the sub-prime lending phenomenon took root, which were then compounded by regulatory developments and further policy mistakes as the credit crisis unfolded. These factors further explain why the sub-prime crisis assumed such global proportions.

Suggested Citation

  • Mervyn K. Lewis, 2009. "The origins of the sub-prime crisis: Inappropriate policies, regulations, or both?," Accounting Forum, Taylor & Francis Journals, vol. 33(2), pages 114-126, June.
    • Handle: RePEc:taf:accfor:v:33:y:2009:i:2:p:114-126
    DOI: 10.1016/j.accfor.2009.04.001
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    Citations

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    Cited by:

    1. Christopher J. Green & Eric J. Pentecost & Tom Weyman-Jones (ed.), 2011. "The Financial Crisis and the Regulation of Finance," Books, Edward Elgar Publishing, number 14248.
    2. Iley, Richard A. & Lewis, Mervyn K., 2011. "Has the global financial crisis produced a New World Order?," Accounting forum, Elsevier, vol. 35(2), pages 90-103.
    3. Günsür, Başak Tanyeri & Bulut, Emre, 2022. "Investor reactions to major events in the sub-prime mortgage crisis," Finance Research Letters, Elsevier, vol. 47(PB).
    4. Grougiou, Vassiliki & Leventis, Stergios & Dedoulis, Emmanouil & Owusu-Ansah, Stephen, 2014. "Corporate social responsibility and earnings management in U.S. banks," Accounting forum, Elsevier, vol. 38(3), pages 155-169.
    5. Darrin Grimsey & Mervyn K. Lewis, 2011. "Minimizing Collateral Damage: Options for Financing Public–Private Partnerships in the Wake of the Financial Crisis," Chapters, in: Christopher J. Green & Eric J. Pentecost & Tom Weyman-Jones (ed.), The Financial Crisis and the Regulation of Finance, chapter 15, Edward Elgar Publishing.
    6. Lewis, Mervyn K., 2010. "Did Berle and Means get it wrong? Reflections on Thorstein Veblen, Paul Samuelson, and ‘Corporate Strategy Financialized’," Accounting forum, Elsevier, vol. 34(3), pages 222-227.
    7. Marco Locurcio & Pierluigi Morano & Francesco Tajani & Felicia Di Liddo, 2020. "An Innovative GIS-Based Territorial Information Tool for the Evaluation of Corporate Properties: An Application to the Italian Context," Sustainability, MDPI, vol. 12(14), pages 1-29, July.
    8. Mervyn K. Lewis, 2011. "Monetary Policies During the Financial Crisis: An Appraisal," Chapters, in: Steven Kates (ed.), The Global Financial Crisis, chapter 8, Edward Elgar Publishing.
    9. Neculai Tabara & Alina Rusu, 2011. "The role of accounting in the global financial crisis. Assumptions and realities," EuroEconomica, Danubius University of Galati, issue 29, pages 16-22, August.

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