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Need for pragmatic regulation of markets: the takeaway from the recent financial crisis

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  • V. Shunmugam

Abstract

Despite being in an increasingly globalized economy with markets located far and wide, regulatory authorities across national boundaries, while focusing on their own market yards, had been in the dark about what had been happening in markets across borders. If leveraging opportunities and opaque markets drive participants to chase, unregulated, too few goods, it surely will prove unhealthy for interconnected markets and economies. Clearly, appropriate regulatory actions alone can prevent greed-driven individual and institutional participants from building up collective irrationality in markets. This paper discusses various takeaways from the worst economic recession post-Great Depression from a regulatory perspective.

Suggested Citation

  • V. Shunmugam, 2010. "Need for pragmatic regulation of markets: the takeaway from the recent financial crisis," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 3(2), pages 309-320.
    • Handle: RePEc:taf:macfem:v:3:y:2010:i:2:p:309-320
    DOI: 10.1080/17520843.2010.496554
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