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The Global Financial and Economic Crisis, and the Creation of the Financial Stability Board

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  • Stuart P.M. Mackintosh

Abstract

The 2007-2008 global financial and economic crisis precipitated a significant shift in the financial regulatory worldview (or paradigm) of political and central bank leaders from leading advanced and emerging states. With a common consensus on the required financial reforms, these actors moved swiftly to create a new organization. The Financial Stability Board (FSB) now stands at the centre of the global regulatory architecture, but it remains obscure, opaque, and closed to most external observers. The FSB needs to change as it matures to reflect its key role in global financial reform efforts.

Suggested Citation

  • Stuart P.M. Mackintosh, 2014. "The Global Financial and Economic Crisis, and the Creation of the Financial Stability Board," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 15(3), pages 103-120, July.
  • Handle: RePEc:wej:wldecn:592
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