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Liquidity Illusions in the Global Financial Architecture

In: Research Handbook on International Financial Regulation

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  • Anastasia Nesvetailova

Abstract

The globalisation of financial markets has attracted much academic and policymaking commentary in recent years, especially with the growing number of banking and financial crises and the current credit crisis that has threatened the stability of the global financial system. This major Research Handbook sets out to address some of the fundamental issues in financial regulation from a comparative and international perspective and to identify some of the main research themes and approaches that combine economic, legal and institutional analysis of financial markets.

Suggested Citation

  • Anastasia Nesvetailova, 2012. "Liquidity Illusions in the Global Financial Architecture," Chapters,in: Research Handbook on International Financial Regulation, chapter 15 Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:3748_15
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    References listed on IDEAS

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    3. Nouriel Roubini, 2006. "Why Central Banks Should Burst Bubbles," International Finance, Wiley Blackwell, vol. 9(1), pages 87-107, May.
    4. Stewart C. Myers & Raghuram G. Rajan, 1998. "The Paradox of Liquidity," The Quarterly Journal of Economics, Oxford University Press, vol. 113(3), pages 733-771.
    5. Grossman, Sanford J & Miller, Merton H, 1988. " Liquidity and Market Structure," Journal of Finance, American Finance Association, vol. 43(3), pages 617-637, July.
    6. Ethan B Kapstein, 2006. "Architects of stability? International cooperation among financial supervisors," BIS Working Papers 199, Bank for International Settlements.
    7. Ilan Goldfajn & Rodrigo O. Valdes, 1997. "Capital Flows and the Twin Crises; The Role of Liquidity," IMF Working Papers 97/87, International Monetary Fund.
    8. William R. White, 2006. "Procyclicality in the financial system: do we need a new macrofinancial stabilisation framework?," BIS Working Papers 193, Bank for International Settlements.
    9. Pettis, Michael, 2001. "The Volatility Machine: Emerging Economies and the Threat of Financial Collapse," OUP Catalogue, Oxford University Press, number 9780195143300.
    10. Claudio E. V. Borio, 2004. "Market distress and vanishing liquidity: anatomy and policy options," BIS Working Papers 158, Bank for International Settlements.
    11. Kregel, J A, 1998. "Derivatives and Global Capital Flows: Applications to Asia," Cambridge Journal of Economics, Oxford University Press, vol. 22(6), pages 677-692, November.
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    13. Frederic S. Mishkin, 1999. "Global Financial Instability: Framework, Events, Issues," Journal of Economic Perspectives, American Economic Association, vol. 13(4), pages 3-20, Fall.
    14. Claude Gnos & Louis-Philippe Rochon, 2004. "Reforming the international financial and monetary system: from Keynes to Davidson and Stiglitz," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 26(4), pages 613-629.
    15. Martin H. Wolfson, 2000. "Neoliberalism and International Financial Instability," Review of Radical Political Economics, Union for Radical Political Economics, vol. 32(3), pages 369-378, September.
    16. Philip Lowe & Claudio Borio, 2002. "Asset prices, financial and monetary stability: exploring the nexus," BIS Working Papers 114, Bank for International Settlements.
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    Keywords

    Economics and Finance; Law - Academic;

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